To read an article about a speech I delivered on this topic, please click here: http://tinyurl.com/gwu3rd2.
On Tuesday, I delivered a speech before the Restaurant Finance & Development Conference in which I discussed the impact of overregulation on the restaurant industry, jobs and the economy and how President-elect Trump’s win can help change that narrative. Among other regulatory burdens, I discussed how Obamacare has increased labor costs for businesses as well as insurance premiums which is reducing discretionary income for consumers, leading to a “government-mandated restaurant recession.” In order to lower the burdens businesses face and to create strong economic growth, we need a new set of policies. In case you’re interested, Franchise Times editor Nancy Weingartner interviewed me after my speech and did a nice write-up: Why CKE’s Andy Puzder Thinks the Government Doesn’t Understand Job Creation.
Earlier today, I joined CNBC Power Lunch hosts Tyler Mathisen and Brian Sullivan, former GE chief Jack Welch and others to talk about what President-elect Trump’s victory means for the economy. I started off by saying that Obamacare has to go quickly because it has increased labor costs for businesses as well as insurance premiums which is reducing discretionary income for consumers; I explained this is having a particularly negative impact on the restaurant industry. I also discussed how job creation works and said I was relieved that the franchise industry will fare better on issues ranging from overtime pay to the joint employer standard. CNBC wrote an accompanying piece that you’ll find below. Also, Nation’s Restaurant News wrote an article about Trump’s win and included some comments from me. Please see below.
CNBC segment: All eyes turn to the Trump economy
CNBC accompanying piece: We need to get Obamacare disaster behind us, Trump economic advisor says
Nation’s Restaurant News: Industry ponders what’s next in wake of Trump victory
To view my interview on this topic, please click here: http://tinyurl.com/pktpyf8
Earlier today, I joined Fox Business Host Stuart Varney to discuss the shrinking middle class in America and how that dynamic opens up a path to victory for Trump. As I explained to Varney, if you’re from a Midwestern state like PA or Ohio and you’ve experienced limited prospects due to plant closures, shipping of jobs overseas and competition from undocumented immigrants for higher paying jobs, you’re not going to believe that open borders and unfair trade serve your best interests. While making it clear that I am for fair trade and legal immigration, I pointed out the current policies are killing the working class and middle class.
The segment is entitled, Current immigration, trade policies killing the middle class?
I’ve been asked by a number of people recently why large corporations/Wall Street would support Hillary Clinton over Donald Trump. Trump so obviously has what is a pro-business economic plan designed to generate economic growth through lower taxes, reduced regulation, energy independence and better trade deals. Clinton, on the other hand, wants to increase taxes and regulation; continue with poorly negotiated trade deals; and limit domestic energy production.
So, why would big business support Clinton? Well, the fact is that not all businesses are the same or have the same economic interests. Small and mid-sized businesses often have very different concerns than those of large global corporations. Here are three policy positions that make Clinton appealing to big corporate interests.
First, and most obvious, there are the large globalist companies that know Clinton will allow them to continue taking advantage of cheap labor, lax environmental regulation and the other benefits of unbalanced, poorly negotiated trade deals. Trump won’t. So, they support Clinton.
Second, there are large corporations that have significant government contracts. About 35% of GDP is now government spending and that’s a significant amount of business. Large businesses with big government contracts understandably want increased government spending, not less. There is also a huge pay-to-play element. They know they can curry favor with Clinton through support and contributions. Trump has clearly stated that he intends to reduce government spending, negotiate tougher deals for government business and you cannot buy him with support or cash. So, they support Clinton.
Third, there are those businesses that are highly regulated. These businesses know that if Clinton wins, the time to buy favorable treatment with cash and support is now. Even if unfriendly legislation and regulation increases, favorable treatment is essential. In fact, it may be possible to get legislation or regulations that protect your business from competition (like the large banks did with Dodd-Frank). Trump is going to reduce regulation in any event so even if he wins, highly regulated businesses will benefit whether or not they supported him. And, in any event, they can’t buy favorable treatment from Trump with cash and support. So, they support Clinton.
On the other hand, Trump’s entire economic plan is populist and intended to generate growth that would benefit American workers and small to mid-sized businesses thereby reducing income inequality, increasing wages and opening paths to the middle class. Whether its tax, trade, regulatory or energy policy, Trump’s plan is clearly superior unless you are one of the large globalist companies that ship jobs overseas, profit from poorly negotiated government contracts or want to be sure you can influence legislative and regulatory policies coming out of the Clinton Administration.
If you’re a small or mid-sized business, a working or middle class American and you want someone in your corner, Donald Trump is your candidate.
Earlier today, I joined Fox Business host Neil Cavuto and fellow Trump economic advisor Peter Navarro to discuss the presidential election and the impact that Obamacare is having on swing state voters who are seeing their premiums go up by double digits. While Peter focused on trade, I explained how Obamacare is taking money of out the hands of consumers at the same time it is increasing costs for employers, making an issue that hits people’s pockets. Then, I took the opportunity to mention the Real Clear Politics op-ed I wrote in support of Trump today. You can access both the interview and op-ed by clicking on the links below:
The segment is entitled: Could Obamacare get Trump elected?
The op-ed is entitled: Why Trump.
To see my interview on this topic, please click here: http://tinyurl.com/zsjcho5.
This morning, I joined Bloomberg’s David Westin and Alix Steel to discuss the latest jobs report. According to Westin, the report shows 7.9 million people are out of work and he asked me how Trump will find people to fill the 25 million jobs he’s promised to create. I told Westin he needs to look at the labor participation rate which shows there are tens of millions who are out of labor force or working part time jobs because they can’t find full time work. Steel then asked me if stagnant growth is the problem. I told her that it is but also made it clear that a lot of it is due to tax, energy, regulatory and trade policies of the Obama administration which is why change is needed. Towards the end of the segment, I also discussed the impact Obamacare is having on the restaurant industry. The segment is entitled, Finding Enough Americans to Fill Trump’s 25 Million Jobs.
To read an article about my remarks, please click here: http://tinyurl.com/zucn8fh.
Last week, I had the opportunity to speak at an event hosted by Cal State Fullerton College Republicans which was attended by students, faculty and members of the Lincoln Club of Orange County about conservative principles and how they’ve guided my personal and business life. As I told the audience, given the upcoming election, this talk couldn’t come at a more critical time. The Daily Titan, which is the university’s newspaper, wrote an article about my remarks entitled, Executive talks jobs, government, which I hope you’ll read and share with others.
To watch the interview, please click here: http://tinyurl.com/gwox3gw.
Earlier today, I joined Fox Business Host Stuart Varney to discuss the impact Obamacare is having on the restaurant industry. As I explained, due to increased premiums, the industry is down 3% in transactions this year. I told Stuart that if the trends continues thru December, this will be the worst year since 2009 for the restaurant industry. We then discussed the impact Obamacare is having on the middle class. I told Stuart that along with Obama’s tax, energy and regulatory policies, Obamacare is retarding economic growth. And, I pointed out that Hillary would continue down the same path that has left people with less disposable income.
The segment in entitled, CKE Restaurants CEO: Obamacare is retarding economic growth. You can also read a write-up Fox Business did on the interview by clicking here.
To read the op-ed on this topic, please click here: http://tinyurl.com/hawy52o.
Along with fellow Trump economic advisors Peter Navarro and Wilbur Ross, I co-wrote an op-ed that Real Clear Politics posted on its website on Sunday. In the op-ed, we elaborate on issues we discussed during the Sunday interview with Fox Business host Maria Bartiromo which range from trade to regulatory reforms. As we explain, the U.S. is in a tough economic spot and Hillary would continue with the same disastrous policies that brought us to this point, making Trump’s pro-growth agenda the only option for growing the economy again. The op-ed is entitled: Donald Trump’s Contract with the American Voter.
To read the op-ed I wrote on this topic, please click here: http://tinyurl.com/jmy6swf.
On Sunday, the WSJ posted an op-ed I wrote regarding the impact of rising health-care premiums and costs which are leaving consumers with less money to eat out. As I explain, combined with the economic advantages of eating at home due to lower grocery-store prices, we are experiencing what you might call a government-mandated restaurant recession. At the end, I write that the struggling restaurant industry is the canary in the coal mine for the Affordable Care Act’s impact on the broader economy. To improve the outlook for economic growth and patient care, we need a patient-focused alternative to Obamacare. The op-ed is entitled: The Non-Affordable Care Act’s Restaurant Recession.