(CNSNews.com) – In a State of American Business address, U.S. Chamber of Commerce President and CEO Thomas Donohue said Thursday that the Obama administration is on a “regulatory tear” that will continue until President Barack Obama leaves the White House.
“The current administration is on a regulatory tear, and this will continue ‘til the day the moving van backs up to the door at the White House next January,” said Donohue. “How do we know? They’ve been telling us everyday since the first of the year.
“It has unleashed a runaway EPA that has been stretching the law, and in some cases, breaking it in order to consume control over the local economic development across America,” he said.
“The administration has given us a Labor Department and a National Labor Relations Board that are against American job creators and in favor of their union benefactors, who now represent just 6.6 percent of the private work force, and so many regulators have been turned loose on our financial sector that banks have been distracted from their principal purpose: to provide credit and services that enable our businesses to grow and our entrepreneurs to thrive,” Donohue said.
He said every day businesspeople at large and small companies wake up each day wondering what the government will do to them today.
Donohue said compliance with Obamacare costs companies “a small fortune, and is significantly driving up overall health care costs.”
“When you add together Americans who can’t find jobs, who can’t find full-time work, or who have given up looking, we’re talking about nearly 10 percent of American workers,” Donohue said.
“Meanwhile, the workforce participation rate is at a four-decade low. That plus the failure of Congress to pass common-sense immigration reform means that we are not only in a nation that … have people without jobs, but we have so many jobs in critical areas without people,” said Donohue.
“It’s not just the federal government that concerns the business community,” Donohue said. “State and local governments are piling new mandates, taxes and costs on the backs of the private sector.
“We have an abusive enforcement system at the federal level and in many states that is extorting billions of dollars from companies with little or no due process,” he added.
“Meanwhile, governments at all levels are accumulating massive levels of debt and unfunded pension and entitlement liabilities. One day, unless there is reform, this whole house of cards can collapse,” Donohue said.