Obama's Economic-Policy Last Chance; Applying Business Sense to Government Can Get U.S. Back on Track

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Byline: Sen. Ron Johnson, SPECIAL TO THE WASHINGTON TIMES

When stock prices were plunging earlier this month, President Obama strode to the teleprompter and utterly failed to calm the markets or the American people. Sadly, they saw what I saw - and have come to exactly the same conclusion: Mr. Obama does not know what to do. He never did.

Since taking office in admittedly tough economic conditions, the president has taken America 180 degrees in the wrong direction. His failed $825-billion stimulus, Obamacare, Dodd-Frank and the explosion of his administration's other job-killing regulations have combined to put a stranglehold on our economy. Until these policies are reversed, the lack of confidence that dampens consumption, business investment and job creation will be the order of the day. Unfortunately, Mr. Obama is blinded by ideology and refuses to acknowledge the harm his agenda has wreaked on America and our economic future.

Fortunately, some in Congress understand the harm his agenda is causing and are working hard to reverse course.

As a thought experiment, imagine how much uncertainty would be removed and the level of confidence that would return if the entire Obama agenda were repealed tomorrow. A pretty pleasant thought, isn't it?

We can't repeal the additional $4 trillion that has been added to our nation's debt during his tenure, but we can repeal his agenda - the sooner the better. I can't think of a more effective first step in any jobs program, and I challenge anyone to come up with a better one. I'm confident the president's umpteenth attempt at a jobs program will be nothing more than a slight variation on already-tried-and-failed themes. Why would we expect anything different or think he has any personal knowledge on how to create jobs?

Few on Mr. Obama's team have ever built a company, manufactured or marketed a product or balanced the company books. They have no clue how to get our economy reignited and no clue how to createan atmosphere in which the private sector can create the jobs we need. To them, the private sector is little more than a cash cow to fund bigger, more expensive government in Washington.

As the former chief executive officer of a midsized manufacturing business, I do understand the value of the real job producers in America. I also understand how Mr. Obama's policies affect their ability to expand their businesses and create new jobs. What we need to do to get our economy moving again is pretty obvious. Here's a short outline of the necessary components of a solution:

* Repeal Obamacare and Dodd-Frank: Neither of these laws fixed the problems they were designed to solve, and instead, they do far more harm than good. …