Some anniversaries are better left uncelebrated and the one-year anniversary of the enactment of the 2010 Dodd-Frank Act is certainly one of them. Of all the federal government’s confidence killers over the past several years—from the failed “stimulus” package to the government takeover of health care—the Dodd-Frank Act ranks right with them as a barrier to job creation.
Last July, before President Obama signed the massive 2,300-page bill into law, its Democratic supporters promised the American people that Dodd-Frank would “increase investment and entrepreneurship” and “foster competitiveness, confidence in our financial sector, and robust growth in our economy.”
It has not.
Just this past week, in a politically-charged op-ed in the Wall Street Journal, Treasury Secretary Tim Geithner touted Dodd-Frank’s contributions to our economy and said “the U.S. financial system is in much stronger shape” and that his department’s actions “helped to restart economic growth.”
One year after the bill Secretary Geithner said was “designed to lay a stronger foundation for innovation, economic growth and job creation” received his boss’ signature, how’s our economy really doing?Page 1 of 5 | Next Page