New York (CNNMoney.com) – 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 planned for later in the day 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 group believes tax cuts are key to job creation. The Obama administration, however, has focused on stimulus and spending to create jobs.
but the pig romer say that its created 3.5 milliion jobs, just more tantax lies from obama administration and the head lier tan tax obama.
This should be the kind of job grouth you would exspect coming from a socialist "utopia" hey you get what you elect. 9.5% unemployment rate with 18 months in office , not much to brag about !!!
Tried tax cuts under Bush. Didn't work.
The Chamber of Commerce is NOT a government entity, nor is it concerned with the well-being of the average American. It is all about how much more profit can corporations and wealthy individuals that have access to enough capital to actually have a business (unlike millions of Americans who can't even find a job) make more profit off of the backs of hard working Americans who buy their products....they have no credibility and have done nothing but complain, complain complain since the President and Congress started putting some restraints on their greed fest that led to the worst economic times since the great depression.
In 2007. the wealthiest 0.1 percent took home 7 percent of the US income. Thanks to Republican tax cuts, in 2007 the wealthiest 0.1 percent took home 12 per cent of the income. That's a 71 percent increase in income, which sure as heck didn't "trickle down" to a proportional increase in jobs. Between March 2001 and December 2006, jobs grew by only 0.6 percent, average annualized monthly, the lowest growth ever except for a brief period during the "Reagan recession" in the 1980's. Between 2000 and 2007, median household income declined – so even a though a few more people were working, the jobs that were created were paying less than the jobs that were lost/exported to China.
Will Rogers said during the Great Depression that "money was all appropriated for the top in hopes that it would trickle down to the needy." It was BS then, and it's still BS now. Another big tax cut for the wealthy will repeat that history.
The resient is i. Tax cuts only puts money in the pockets of businesses. They will only hire when demand for thier goods and services increases. All else is just politiucs and an effort to get more money. Our greatest problem is that the american people quit spending (for whatever reason). Lower spending means lower demand and fewer jobs. Plain and simple. The President can't force people to spend money.
The Chamber of Commerce sat by quietly when the econony was shedding jobs from 2007-2009, and Financial Services companies were taking undue risks.
Then when the adminstration tried to engage them in funding solutions, they came out with the attack ads.
Its no wonder that companies like Google and Apple have left this group.
The Chamber has zero credibility. They are using the same old tired proven not to work tax cuts. Taxes are at historical lows. How does giving a tax cut to somene with no income help?
Any credible economists will say that during a bad recession you need government spending to make up for the lack of private business spending.
The President is right. Tax cuts only puts money in the pockets of businesses. They will only hire when demand for thier goods and services increases. All else is just politiucs and an effort to get more money. Our greatest problem is that the american people quit spending (for whatever reason). Lower spending means lower demand and fewer jobs. Plain and simple. The President can't force people to spend money.
Saying "cut taxes" out of one side of your mouth and calling for "fiscal health" out of the other side tells me that the C of C is as out-to-lunch as their right wing extremist minions. It's going to take both, folks......revenue is going to have to be increased and spending decreased to pay for trillion dollar wars (that the C of C didn't see any problem financing with dollars borrowed from China) and the like. And just watch, these knuckleheads who all of a sudden got religion over deficits (as opposed to the hakuna matata approach during the Bush years) will browbeat our dumb politicians into stopping stimulus initiatives which will throw us into a Japan-like stagnation for years. Brilliant.
The Chamber of Commerce has but one focus: the ability of their members to make a profit. All else is of no consequence. Managers of the Chamber of Commerce have no understanding of economics and little of business, except where it pertains to making a profit. Hence, what the Chamber of Commerce says is of little consequence. President Obama is trying to manage the economic health of the nation for the benefit of the nation. That is a concept that the Chamber of Commerce never has and never will comprehend.
Tax cuts for big business are the fast road to failure. If a business has only so much demand for its products, it is not going to hire regardless of tax cuts. It is going to staff only as necessary to fill the demand for its goods and services. The Chamber is only on a greed quest and is not interested in what needs to happen to fix the economy.
The US Chamber of Commerce--more like a chamber of horrors for employees and the townships that the represented companies seek to gouge through tax breaks-should be ashamed of itself. It does not represent anything good about American business, or "commerce," does not bring useful jobs in an effective manner, and in fact dances to the tunes of the extremely rich and powerful. Another gun/tobacco/pharma entity that has gotten too big to be controlled.
The Chamber of Commerce is just a front for greedy businesses. The fact is that the GOP wants "job creation"...but they don't think that the government should provide those jobs. On the other hand, they don't think government money should be used to help private businesses (they have withheld support for MANY JOB BILLS). The forget the stimulus was over 1/3 tax cuts!
They just complain and complain, offering NO solutions themselves. When we have deficits (created by Bush and Economic Crisis), you can't cut business taxes to the degree that the Chamber of Commerce demands.
The US Chamber of Commerce has some nerve criticizing the administration. While the administration has tried the stimulus approach and this may not be the best idea out there. It was obvious tax cuts are not the answer based on the past several years. Instead of attacking the administration, we need to come up with some new ideas, suggestions, answers to our current problems. The Obama Administration has a lot on its plate now, more so than any past President has had to deal with. Maybe its time for the Chamber to step up and come up with ideas that would win over Congressional support to stimulate the economy instead. Dont complain, come to the table with ideas or solutions! I am tired of hearing complainers that just attack and criticize. Its time for people and organizations to start contributing and stop expecting Obama or any gov't official to be their sole source for solutions!
The Chamber of Commerce is very much like Fox News and the teabaggers, i.e., another arm of the Repugnant Party. Just like one corporation owning another, really.
The Chamber of Commerce said in the 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."
When did anyone taxes increase since Obama been in office. Is there anyone out there that won't lie to the public for the sake of politics. If the business tax cuts were ther answer, then why did the recession start in the first place after all the tax cuts Bush had in place
Small business account for most of the job creations and they can't get banks to lend to them for expansion. Since the taxpayers are providing the banks with free money to pay off their debt and loan to big business, their Wall-Street balance sheets look good and that's is all they are concern with. Chamber of Commerce should be campaingning the banks to get up off the money we loan to them for the purpose of getting them solvent and getting the economy back on track. When you give thieves money, what more can you expect.
The US Chamber of commerce are a bunch of rip-publican, lying, bigoted
morons who just don't get what is happening to America. The lying rip-publicans are screwing up all America.
Obama has been a mess, he's incompetent. He hasn't created jobs or helped the economy at all. He needs to:
1. Cut 10% spending across the board.
2. Extend the Bush tax cuts for another 2 years.
3. Lift the ban on off shore drilling.
4. Secure the border but work out immigration reform to allow Mexican workers to come and do low cost labor and pay taxes with legal year to year work visas.
5. Get us out of Iraq and Afghanistan.
6. Stop giving bailout money to his friends at Goldman Sachs.
WOW can you imagine the chamber of Commerce attacking Obama? god sakes one more thing he is responsible for. Here's a thought America what if the Chamber and the billions it spends lobbying against the voters to get its way put that money into job growth. Imagine lobbying money actually producing something besides pork! And not dissing pork farmers. Think about it. So blame Obama for this to along with cancer,aids, and sunspots but just thing if lobbying money actually oproduced sometihng like investment develoment and jobs instead of influence peddling!
Big business is more responsible for sending American jobs overseas that anyone else. The Chamber has sold out this country in the name of greed and have destroyed the middle class in the process. Want an example: Nike make shoes in third world countries for pennies on the dollar and sells their overpriced products back to Americans for obscene profits. We, the middle class, are tired of balancing big business tax breaks with lower wages. Enough is enough.
Lets reign in spending and cut the entire budget of the chamber of commerce. Sounds like a good start.
OK the Chamber for it's very officious sounding title is nothing more than another RepubliCON lobbying force – they have nothing to do with the US government and even less to do with the average American – Millions pour into their coffers to promote Conservative agendas – wake up America – before it's too late
CNN, thru Anderson Cooper and Blitzer, has been relentless in trying to find fault with the Obama admin. This is just another tool in its kit to paint a negative picture of the administration. In the same breath, Mr. Cooper criticizes Obama for BP's environmental disaster and the proposed moratorium on drilling. He would have criticized Obama for not having a moratorium if they had not proposed it. Sadly, CNN has turned even excellent reporters like Cooper into ideological hacks A La the "personalities" of the FOX network.
Tax cuts don't create job. That's Reaganomics. Get with it Chamber of Commerce. Reaganomics was a complete failure.
The problem is our jobs are going overseas, where third world countries can pay 50 cents a day.
Take away the tax advantages that allow our jobs to be sent overseas. Slick Willie Clinton started that, and it has to be stopped.
Why would we give tax advantages to ship our jobs overseas?