China is now No. 1 in the world of energy development and manufacturing because the Obama administration has tied up U.S. industries in red tape and invested instead in government, not business, House Speaker John Boehner charged today.
In a lunchtime address to the National Association of Manufacturers titled "Making America a nation of builders again," he rapped the administration's regulatory assault on American business.
"Under the Obama administration, however, it's become harder than ever to build in this country," said Boehner. "Red tape, an outdated tax code, and shortsighted policies are driving up the cost of everything, stifling innovation, and sending jobs and opportunities to competitors like China."
The communist economic juggernaut, he added, is moving ahead of America in key areas.
"We are now being displaced in the global economy. China now consumes more energy than we do, now produces more coal than we do - and is now the world's leading manufacturer. Our economy has been growing so slowly because we've been investing in government instead of ourselves and the resources we've been blessed with," he said.
Paul Bedard, The Washington Examiner's "Washington Secrets" columnist, can be contacted at firstname.lastname@example.org.