Obama Proposes Outsourcing Plan

Well, not really. The fledgling U.S. president has issued an edict that cuts multi-million dollar bailed-out executive compensation packages down to size. Now that is myopic, but it’s not a new idea by any stretch of the imagination.

Is there a problem? Yes, indeed there is a problem. Does the problem cry out for immediate attention? There is no question that action is urgently required. Will the Obama sledge hammer help? I don’t think so. In my view it will serve to magnify the malady.

Forty years ago, Federal Liberal politicos in Canada smashed the mining industry between the eyes in a manner similar to the style used by President Obama. The industry collapsed on the spot as our most competent mine operators fled to foreign countries to build competing facilities.

The Canadian travesty turned out to be a magnificent Executive Outsourcing Bonanza for far-flung nations, many of which are less than friendly to freedom.