Of all the reasons that business and the right adduce for the failure of the American economy to rebound, “uncertainty” is surely the most bogus.

Their definition of “uncertainty,” for starters, is entirely political. They are not referring to the uncertainty that comes with the weather, or to the uncertainty we experienced during the meltdown of 2008, when the banks weren’t certain how many worthless credit default swaps were held by the other banks and companies they dealt with - an uncertainty that caused inter-bank transactions to shudder to a halt. They are not even referring to the uncertainty that attends the question of when the American consumer will start consuming again.

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