Before Barack Obama became president, more new business were created each year than the number of businesses that closed. Even during the year of Jimmy Carter's presidency, more businesses were started than closed. But after Obama because president the trend reverses for the first time in decades. The chart above, from the left-leaning Brookings Institution, shows the trends for business opening and businesses closing each year, and it shows how the two lines reversed in 2009 to the present, the last five years we've had the Obama Regime in power.
The graph clearly shows the decline during the recession of the early 1980s and new businesses increasing during the economic boom of the 1980s. Even during the years of Presidents Bill Clinton and George W. Bush, the named remained stable before the decline in new businesses and increase in closed businesses during the Obama years.
The same article in the Wall Street Journal also reported vastly increased number of failed business across all sectors of the economy in 2011 compared to 1991. The article, based on a paper by Robert E. Liltan of the Brookings Institution and Ian Hathaway of Ennsyte Economics, clearly shows the decline of new business, higher “early-state failure” of younger businesses, and more businesses closing under the very business-unfriendly policies implemented under President Obama.
The empirical evidence of that report is just more evidence of how the policies of the Obama Regime have destroyed economic activity, destroyed jobs, and have directly lead to a serious decline in the standard of living of tens of millions of Americans. No economic policies under any other American president have done as much to shrink the middle class as the policies of this current administration.
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