Thursday, September 1, 2011
Enough already with the, "business is not spending because they're afraid of Obama's policies," nonsense.
The chart below shows the change in Gross Private Domestic Investment (equipment and software) covering Reagan, Bush I, Clinton, Bush II and Obama. Figures are in $ billions. As you see, capital spending under Obama surpassed all other presidents with the exception of Clinton (but Clinton had the internet boom and Y2K). The two worst periods were under both Bushes and Bush II had the lowest level of business investment despite a supposedly more “business friendly” environment. The claim that businesses are not spending under Obama is not borne out by the numbers.