Fed’s Beige Book: Government IS the Problem

The late former US President Ronald Reagan in his first inaugural address said that 

government is not the solution to our problem; government is the problem

The US Federal Reserve recently conducted a survey and discovered of President Reagan’s pearl of wisdom.

From Marketwatch.com

The government is getting in the way of a sustainable economic recovery, according to a Federal Reserve survey of business contacts compiled for the Beige Book report released Wednesday.

Business contacts in several of the Fed’s 12 districts reported that fiscal and health-care policies are holding back private spending and hiring…

Employers in several districts also cited “unknown effects” of the Affordable Care Act as reasons for planned layoffs and a reluctance to hire more staff, the Fed said.