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Thursday, July 21, 2011

Bernie Marcus: Obama is Choking the Economy

Straight talk interview with Bernie Marcus, who co-founded Home Depot in 1978, in which he discusses how the regulations pouring out of Washington are choking the American economy:
Having built a small business into a big one, I can tell you that today the impediments that the government imposes are impossible to deal with. Home Depot would never have succeeded if we'd tried to start it today. Every day you see rules and regulations from a group of Washington bureaucrats who know nothing about running a business. And I mean every day. It's become stifling. 
Perhaps, even more frightening is the tactics of the Obama administration.  Marcus answers why more businessnes aren't speaking out:
They are frightened to death — frightened that they will have the IRS or SEC on them. In my 50 years in business, I have never seen executives of major companies who were more intimidated by an administration.
His message to the business community:
It's time to stand up and fight. These people in Washington are out there making your life difficult, and many of you won't survive. Why aren't you doing something about it? The free enterprise system made this country what it is today, and we've got to keep it alive. We are on the edge of the abyss.