Obama-ignoring-immediate-economic-fixes

http://p.washingtontimes.com/news/2012/jul/23/obama-ignoring-immediate-economic-fixes/

Last month’s dismal jobs report underscored what many across the United States have known for sometime — the economic recovery remains damagingly substandard. With unemployment at 8.2 percent — and real unemployment (counting those who have left the labor force) in double digits — confidence in the economic prospects for 2012 are reaching new lows, while uncertainty among America’s businesses and jobs creators is at an all-time high.

Adding to the gloom is the dismal situation in Europe. The European Union’s recent decision to bail out Spain’s troubled banking sector with an injection of $125 billion underscores the depth of the ongoing financial crisis in Europe. Spain, whose economy is the fourth-largest in the eurozone, joins Greece, Ireland and Portugal in requesting assistance and highlights the systematic troubles in the European economy.

What is frustrating is that with elections looming in November, the administration seems interested only in politics, despite having many policy options at its disposal that would immediately boost economic certainty and aid job creation.

Three such economic policies that Congress should enact this year to improve the economy and make American businesses more competitive are extending bonus depreciation, reforming dividend tax rates and reducing the corporate tax rate.