Obama Shows Up at IMTS

A couple of weeks ago I asked in a blog whether or not you would like President Obama to come to IMTS. As expected, I got a solid response of Obama bashers, but my suspicion now is that Barack actually read the blog (we used to shoot hoops in his backyard together—just kidding), because he ended up deciding to come to the show in a big way.

His Cleveland speech, in which he proposed 100 percent write-offs of capital investments made from September 8th through 2011, is potentially an enormous present to our industry. He one-upped the Republicans, who are focused on the “Bush Tax Cuts” which primarily affect high earners who cannot shelter income, a relatively small number of folks.

If the 100 percent one-year depreciation becomes law, as I suspect it will early next year, it will be a catalyst for a major bump in machinery and equipment spending, assuming business continues to improve in manufacturing.

The knee-jerk Republican opposition to the Obama proposal will give way to sane thinking after the election. My guess is that this sop to business may signal Obama’s move to the center. It’s very similar to what we saw from Bill Clinton in 1994 when Newt Gingrich’s “Contract With America” brought a Republican Congress, which ironically may have saved the Clinton Presidency.

My suggestion to Barack is to raise the ante and propose a five-year, 100 percent write off which will enable big and small companies to get the cash flow to buy equipment and hire people.

Question: Is Obama moving towards the center?

Obama at Manny's Coffee Shop in Chicago, close to McCormick Place

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10 thoughts on “Obama Shows Up at IMTS

  1. Miles Free

    Real Question, dId PURCHASERS of machine tools show up yet at IMTS?
    We have been hearing that it is REALLY REALLY SLOW…
    Your 5 year write off idea could jump start equipment sales, but the level of automation and robotics that would sell would end up reducing industry head count, not “adding jobs.”
    Be careful what you wish for.

  2. Mike McCaul

    He seems to be doing what he is best at, campaigning. No one can buy new equipment if they cannot get the finance money to buy them, so why go? Having someone actually lead would be very nice.

  3. Milt Cumiford

    NO, obama is NOT moving towards center!!!!!!!!!! I agree that that 100% depreciation is a good thing for business. What this and previous administrations are doing to this country is directing / forcing us towards communisum. The people of this country would be wise to pay attention to what is happening outside their little world. The usurpations of our Constitutional rights by our government is wrong. I believe people should be focusing more of their energy on returning this country to a Constitutional Republic!!! I have been to every IMTS since 1992 when I statred my shop, but this is year is different. I have finally opened my eyes to what is happening to the government of this country. I can no longer stand idley by and watch this country fall apart. I could go on and on but I will stop before I bore you. Hopefully you will respond to my response.

  4. Steven Horn

    No, Mr. Obama isn’t moving towards the center. He is still a community organizing ideolog. The affect this will have on the economy is to push spending forward(cash for clunkers), and cause spending to drop in the future. He still has on the table the largest tax increase ever to happen Jan 1st. This tax increase is $700 billion that will slow the economy way down.

    He still opens his month and trashes everyone that can make a job happen.

    How I wish for the return of President Clinton. He had the sense to come to the center after his policies where destroyed in the 1994 election. Mr. Obama is too egotistical to move to the center. He feels he’s right and the pions will eventually appreciate what he’s doing.

  5. Bruce Renwick

    Bravo to President Obama. Finally a powerful politician is seemingly trying to help business and manufacturing. I, however, can’t say he’s moving to the center, I think, like Clinton, he’s got to do this to save his presidency and maybe legacy. I believe the United Stated voters are pushing him to the center and BRAVO to the people for doing it.
    I too was at the show on yesterday as were 2 of my bosses, we were looking for new technology and better more efficient ideas but none of this should cost any jobs to anyone. Adding automation and efficiently helps profit and bottom line and allows all companies to afford more resource and development, this could and should add more jobs and be great for America.

  6. Ted Carter

    Obama has always been at the center. The Extreme right have been the ones hollering the loudest and career Republican politicians have rode that wave of fanaticism to deride his policies in the name of conservatisim for their own short term political gains. All the blather about Constitutional rights and socialism is nothing but dumbed down propoganda. If these same people were really worried about Constitutional rights and the national debt they should have came out against the Patriot act and the War in Iraq. A War paid for with tax cuts and borrowed money. Essentially Republicans and Tea Party fanatics are saying it’s OK to go into further debt to start a War but NOT OK to do so rebuilding the infrastructure of this country and jump starting the economy.

  7. Bruce Renwick

    Sorry Mr. Carter.
    Tea party activist are supporting people who are against government waste, higher taxes and fraud. This happens in all forms of government, not just in certain political parties. The local tea party in my area are now exposing city government wages, benefits and waste and the local politicians are now running scared. Isn’t that how it should be? Why are the incumbent Republican politicians being fired across America to new comers? It is because Americans are tired of ALL parties with there wastefulness and lies. So long to the “career Republican politicians” that you speak of.


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