The average length of time people spend unemployed has increased drastically. The Heritage Foundation’s Rea Hederman, Jr. and James Sherk have identified five key policy decisions the Obama administration has made that either raise business costs or are expected to raise them in the near future:
- The health care reform legislation raises the costs of employer-sponsored health insurance;
- The new financial regulations make accessing capital difficult for smaller businesses;
- The pending Environmental Protection Agency (EPA) regulations of carbon dioxide and coal-fired power plants will raise the cost of energy;
- The promised tax increases on successful businesses discourage entrepreneurs from taking risks on new ventures; and
- Obama’s activist National Labor Relations Board (NLRB) seeks to foist unions on employers and employees, despite the fact that unionized businesses create fewer jobs.