Obama to CEOs: ‘Ask yourselves what you can do to hire American workers’

Pay them $2 per hour without health care? This latest effort to appease the richest Americans who ship jobs offshore while making record profits is just sad. It shows a complete lack of understanding by Obama of what makes these people tick. Talking about removing regulation only provides them with more ways to squeeze average Americans while doing nothing for anyone else. The problem is not how to enrich the elite even more, but rather, how to rebuild a declining middle class. The problem was started during the “you’re on your own” Reagan years and with each administration it gets worse.

Obama is obviously a smart person but in this case, he’s a fool for playing their game. As a guy who likes to play basketball, he should know that you want to play your game and not play against the strengths of the other team. Doing so only results in a more lopsided loss. The bottom line with the CEOs is the stock prices. They could care less about jobs in the US but they care a lot about cutting costs and hiring overseas if it means a higher stock price. That’s the system as it stands today, so appealing to patriotism is not going to fly with them.

He enumerated new efforts by his administration to improve the nation’s business infrastructure, spend more to support entrepreneurs and foster greater innovation. He vowed to address “a burdensome corporate tax code,” and go after “unnecessary and outdated regulations.”

But to a polite, subdued audience of about 200 he also offered a stout defense of health care and financial regulation overhauls — two signature administration initiatives that caused some of the most rancorous disputes with the Chamber last year.

“I want to be clear: Even as we make America the best place on earth to do business, businesses also have a responsibility to America,” Obama said.

When business is given everything they want (much like a spoiled child) why should they think they have any responsibilities? Are you kidding? They know they own the place and by having another temper tantrum, they can get more. Like new tax cuts. Sheesh.

Naturally the right wing business loons (Jack Welch and Larry Kudlow) aren’t impressed and still think he’s a socialist. Since Obama asked that business put some of the profits back into workers, he’s obviously a dangerous guy. Welch was unintentionally funny (in a bad way) when he talked about Clinton bringing in people like Robert Rubin to help make everything better. It’s not often that anyone has many good things to say about Rubin between his implementation of Wall Street’s wish list and then his disgraceful Citi years leading up to the crisis.

Now that Obama has annoyed everyone and failed to win over business, how does this help him in 2012?


An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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