Almost every action the president has taken has deepened and lengthened the downturn. The private sector has retreated, frightened by his agenda and paralyzed by the uncertainty, lack of predictability, and outright hostility he has engendered.

His policies are anti-investment, anti-jobs, and anti-growth. Raising taxes — with a 15 percent hike on certain small business corporations, new taxes to pay for ObamaCare, and an increase on the dividend tax from 15 percent to nearly 40 percent — depresses new investment throughout the economy. Promoting an open-ended cap-and-trade tax dissuades expansion by employers in the energy sector. Bowing to the demands of unions to tilt the table in their favor — with proposals for card check and mandatory arbitration as well as the installation of a labor stooge at the National Labor Relations Board — chills new hiring.