This is all due to how Progressive Liberals THINK the world and the economy should work. They believe that prosperity flows from government, that government should lead and the private sector should follow and, especially relevant to the regulations, that the private sector cannot be trusted with the general welfare of the people and business should be an outlet, employee social support centers, for government social policy.
This philosophy hasn't been able to run this unopposed (including effectively bypassing Congressif necessary) since the FDR Administration. FDR did some smart, business-oriented policies right up front when taking office. The Great Depression actually ended in 1933. Then, he turned his gaze on the same "fundamental rebuilding of America" and other Progressive Liberal thinking listed above. The effects of of the Depression, including lack of sharp recovery, lingered on for 7 more years. Then in 1940, despite himself, he was forced to turn to business again, buying planes, tanks, ships, bombs, bullets and beans for the war effort. This was Trickle-Down economics (albeit a spending version of it) aimed straight AT business (not contemptuous of it). The sharp recovery, that should have happened in late 1933, started in late 1940. Sound familiar, other than the sharp recovery happening?
The machine gun of current regulatory policy spewing out of Washington, has had a chilling effect on business. They have been scrambling for cover until it stops. They don't want to expand under these business-hostile conditions. It's ironic though, Obama has looked to Europe for the model he wants for the US. He's got it, complete with the perpetually sluggish growth, chronically high unemployment, debt-ridden economies. It's not accident since he is imposing the same Progressive Liberal thinking as they are. You are right, Obama has put a big, fat regulatory jockey on the back of the economic racehorse and is dumbfounded on why it's not winning races again.