The President of France has been reeling from a dysfunctional economy, 20 percent approval ratings, and lurid reports of his extra marital adventures.
But Francois Hollande has also drawn praise from other European leaders and the French business community for a bid to re-boot his administration. In a shocking speech, he called for corporate tax cuts, reduced government spending, and more business-friendly attitudes from government. Hollande campaigned for a 75 percent tax rate and more activist government, but is ready to change course after three years of unemployment near 11 percent.
If life-long socialist Hollande can abandon his failed ideas, why can’t President Obama follow his example? If he adapted the Hollande program and lowered taxes on business, reduced spending, and offered a friendlier approach to free markets—imagine what those changes might do for our struggling economy.