It isn't just Obama. It's Obama backed by Pelosi and a filibuster-proof Democratic Congress, though around here Pelosi makes the biggest impression.

Most of these people aren't that political, but they can see the gallows being built, and know they're on the list. Here in California, middle-level business has been on the list for a long time.

The little ones do okay, mostly flying under the radar. although some regulations hit them pretty hard. The big ones do okay, with entire divisions dedicated to meeting regulatory requirements and greasing palms in Sacramento. The middle-sized ones have it rough. You get to more than 50 employees, and the regulations fall on you like an Alpine avalanche.

Rising unemployment is an effect, not a cause.