Well, it certainly didn't do anything to help lower the unemployment rate by this time October/November period in their estimate saying it wouldn't go higher than 8%. The result turned out differently, it went higher than the 8% projected and into the 10% territory instead. Secondly, what doesn't help businesses if they keep hearing how taxes on their business will be going up do they want to hire or even expand their businesses. And companies with the wherewithal to move their businesses overseas will do so.
From manufacturing news:
Emerson Electric Votes With Its Feet, Saying The Goverment Is Destoying American Manufacturing
Emerson Electric Votes With Its Feet, Saying The Goverment Is Destoying American Manufacturing
And you want to talk about recession?
Let me tally it up for you.
1980 with 1.0 million jobs lost;
1982 with 2.8 million;
1990 with 1.5 million;
2001 with 2.7 million.
With Emerson taking a clue will move their company overseas after losing several billion dollars to more friendly and receptive govts in another country.
So, what's the bottom line in helping cause this? The govt's interference. What else? Didn't you know?