President Obama Mocks Claims That Regulation Will Destroy The Economy
President Obama walked into the lion’s den yesterday, making an address to the U.S. Chamber of Commerce, one of the chief sources of funding for Republicans in the 2010 midterm elections. Obama discussed many things, but I was particularly struck by his discussion of business opposition to regulation:
We can look at the history in this country. Early drug companies argued the bill creating the FDA would “practically destroy the sale of … remedies in the United States.” That didn’t happen. Auto executives predicted that having to install seatbelts would bring the downfall of their industry. It didn’t happen. The President of the American Bar Association denounced child labor laws as “a communistic effort to nationalize children.” That’s a quote.
It is part of the job of organizations like the Chamber to make exaggerated claims so as to prevent even minor decreases in profits for their members. But when those claims are shown to be false time and time again, the organization needs to pay the price in decreased credibility. Hopefully the president and other Democrats will continue with this rhetorical approach so that gross exaggerations come with cost to the exaggerator.Click here for reuse options!
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