OMG! US Chamber of Commerce Slams Obama Economic Policy
The U.S. Chamber of Commerce slammed President Obama's economic policies Wednesday, saying administration officials "took their eyes off the ball" and "neglected" to focus on job creation.
A letter posted to the business group's site and a summit with 500 business leaders were the latest moves in an ongoing battle between big business and the Obama administration.
The two are at odds over the best way to keep the recovery from slipping into a double-dip recession. The Chamber believes tax cuts are key to job creation. The Obama administration, however, has focused on stimulus and spending to create jobs.
The Chamber said in its letter that the administration "vilified industries while embarking on an ill-advised course of government expansion, major tax increases, massive deficits and job-destroying regulations."
Hey guess what? I'm not the only one with negative things to say about Obama's economic policy nor is the Chamber of Commerce.
The chairman of the Business Roundtable, an association of top corporate executives that has been President Obama's closest ally in the business community, accused the president and Democratic lawmakers Tuesday of creating an "increasingly hostile environment for investment and job creation."
Ivan G. Seidenberg, chief executive of Verizon Communications, said that Democrats in Washington are pursuing tax increases, policy changes and regulatory actions that together threaten to dampen economic growth and "harm our ability . . . to grow private-sector jobs in the U.S."
"In our judgment, we have reached a point where the negative effects of these policies are simply too significant to ignore," Seidenberg said in a lunchtime speech to the Economic Club of Washington. "By reaching into virtually every sector of economic life, government is injecting uncertainty into the marketplace and making it harder to raise capital and create new businesses."
It's cool, Bernanke is completely on it. Business will get over it.