Dear PBO #5 – Leadership

Below is my letter to the President regarding the economy; it is in summary form.  To see full details click the Dear PBO page and go to the August 15 letter.

Dear Mr. President

 There has never been an economic recovery that did not extraordinary leadership from the White House.  A president cannot make the economy turn by itself, it takes business leadership to take on risk again, but a president can make sure the risk plain is tilted towards risk taking.  Sometimes this requires doing things you may otherwise not want to do.

 I know you are passionate about many items passed into law the past two plus years including healthcare reform, financial reform, and environmental standards reform.  Of course each of these carries profound social and economic consequences – good and maybe not so good depending on perspective.  Under normal circumstance business, with healthy financial conditions and outlooks may not like the new laws, but decision making is not critically impacted.  As we all know these are not normal times.  So while businesses are trying to deal with sour economic conditions, these new laws hang over them like an added recession.

 Economic leadership not only tries to remove the sour economic conditions, it makes sure no other risks enter the fray.  Until economic conditions improve, you can do more to remove the “added recession” to many businesses than anyone.

 Therefore, my recommendation to you is very short and very sweet.  Indicate to Americans that you firmly believe in the reforms and changing them in any way is contrary to your DNA, but giving up is part of getting up – and America has fallen far and has quite a ways to get up.  But as the leader of all Americans you can say in an effort forAmericato be strong again economically you will do something equally profound.  You will place moratoriums on all these reforms (excepting some of the financial reforms necessary right now).  I would recommend a two year moratorium with the provision that if economically we are successful sooner, the moratorium is ended and on the flip side, if we still suffer economically after two years, the moratorium could be extended.

 That would be profound.  That would be real leadership.  That is what I understood growing up is what presidents do – sacrificing personal beliefs and convictions to makeAmericagreat even if this meant delaying what you believe is good.

 Thanks for the listen – until next time.


 Thomas K Sheehan

Sheehan Financial Group


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