Corporate America has the largest cash reserves in recent memory. The product of the first Obama administration, the boards and management of the biggest companies, foregone mergers and acquisitions and cleaned up their balance sheets. Fear was the operative sentiment after the 2008 financial meltdown. Business confidence was marginal at best. Lacking consumer confidence was a natural result of a high unemployment and an insecure job environment. The modest improvements in the economy were a direct outcome of increases in government spending, especially an expansion in public employee endeavors.