July 14th, 2010
03:09 PM ET
12 years ago

Business leaders: Obama policies 'job-destroying'

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 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."

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soundoff (97 Responses)
  1. norma

    And Bush's policies that led to thousands and thousands of job losses per month in 2008 were good for our country? We are now creating jobs again, and they call this President's policies job destroying. Seriously? What planet do they live on?

    July 14, 2010 03:54 pm at 3:54 pm |
  2. JOHN U

    Wow, under the Chamber's fusillade of distortions you'd almost forget how they promoted illegal immigration for cheap labor business profits and the 'pro-business' deregulation which brought the US economy to its knees, etc. They're nothing but a bunch of failed masters of the universes covering their tracks while making America a corporate owned subsidiary.

    July 14, 2010 03:54 pm at 3:54 pm |
  3. 60s survivor

    chamber of commerce = by. for. of. big business??

    July 14, 2010 03:54 pm at 3:54 pm |
  4. Angus McDugan

    Obama is LAZER focused on jobs! Unfortunately he is focused on destroying jobs due to his incompetence.

    July 14, 2010 03:54 pm at 3:54 pm |
  5. Rob

    The Chamber of Commerce is the voice of absolutely selfish large corporations and the rich. They don't care about anyone but the multinational corporations and the top earners of this country and the vast majority of the funds they generate to support their mission come directly from those large corporations who only have one goal – optimize their short term profits, even if it comes at the expense of small and midsized business and the average citizen. This organization fights every decent policy including financial reform, health care, energy reform, and oil industry reform. They have no credibility and don't deserve any respect. There is a good four-letter word that describes them though: PIGS


    July 14, 2010 03:57 pm at 3:57 pm |
  6. Jeff in Virginia

    I love it when the Chamber of Commerce acts like it is some sort of official government body acting in the interests of the people.

    I don't particularly like it when CNN fails to explain who these people really are. Lobbyists.

    Why is CNN parroting the talking points of lobbyists?

    July 14, 2010 03:58 pm at 3:58 pm |
  7. siz

    Really? The business organization want lower bisiness taxes?

    do they want less regulation and more free give aways too?

    We the taxpayers (and yes i DO pay federal taxes) subsidize but business more than we do the poor by a HUGE MARGIN.

    It terribly so oversaid but so true. The rich keep getting richer and when they make more the DON't SPEND IT ON THE USA!

    This small business owner (I own a travel agency) wants taxes on megacorporations and the megawealthy so i can grow.

    Repeal repelant BUSH TAXCUTS NOW!

    July 14, 2010 03:58 pm at 3:58 pm |
  8. Steve in Seattle

    These business leaders are spot on! This administration's philosophy that you can "spend your way out of debt and tax your way to prosperity" has never worked in this country or anywhere else in the world. In fact, the stupidity behind that philosophy fuels a lack of confidence in our Govt. by the private sector, costing jobs as opposed to creating them.

    July 14, 2010 03:59 pm at 3:59 pm |
  9. WhatIsTheDifference

    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.

    ?? How would providing a tax cut to corporations making a profit stimulate job creation ? GM, Bank of America and most of the other companies that were aided most by the stimulus that everyone is complaining about have reported profits (some of them reporting rather impressive profits) yet the jobs they cut have not been re-created. Banks that were too big to fail, that are now very much in the black, are not lending money to the small business that is so vital to our economy. Yet no one seems to be calling for a return on the taxpayer's investment and demanding that they pony up and show an interest in the entire economy and not just making their stockholder's happy. Am I asking that they become not for profit industries? NO but come on. You complain that the government has to create jobs but not by spending its money but by giving it away. Which is what a tax cut is. GIVING money to a company and HOPING that they pump it back into the economy in the form of jobs.

    July 14, 2010 04:00 pm at 4:00 pm |
  10. Dean

    As a small business owner suffering thru these times I can say that taxes are killing me.
    As for job creation, we had lots of jobs but greedy business shipped them oversears. That practice still continues today. Obama's only hope of economic recovery is tax relief and do away with regulations that do not pertain to safety and consumer welfare. Corporate America spends over 1 trillion dollars a year just complying with federal regulations that are worthless. The government regulates how big the holes in swiss cheese can be. This is real important. This 1 trillion dollars come right off the gtop of profits and contributes nothing to the business. No wonder business wants to leave this country.
    Obama wise up and bring our jobs back. It is obvious that there are no new jobs to be created.

    July 14, 2010 04:01 pm at 4:01 pm |
  11. Rusty

    The U.S. Chamber of Commerce is a political PAC of the Republican Party, of course they'd say this.

    Let's talk facts – there have been more jobs created under Obama in one year than the entire 8 year Bush regime.


    July 14, 2010 04:01 pm at 4:01 pm |
  12. KEVIN

    The Chamber of Commerce needs to stop this Tax Cut nonsense. Who are they giving tax cuts to now. Oh I know to the Rich people because they create job, this lie is Garbage. Reagan and Bush both gave tax cuts yet did not pay for them and now this country is on the brink. The Chamber of Commerce must be filled to the brim withOld White ReThugliCan't and their tax cuts will trickle down to us middle and poor class people. People if you fall this garbage again this country will become a 3rd world country. No more tax cuts we need the taxes to help fix this country. President Obama gave a tax cut to 95% of all american and that is still not enough for you greedy fools. Well then let this country die, you will still have your money right. Where is Bernie Madoff when we need him.

    July 14, 2010 04:04 pm at 4:04 pm |
  13. hobart

    What a bunch of hypocrisy.

    Big business was left to its own devices, and completely deregulated by a sympathetic Republican Administration, and the result was economic collapse, with many of us losing our jobs, homes, life savings and health insurance.

    There only government expansion has been stimulus funds with strings attached to bail out the failing financial and auto industries.

    There have been no new taxes, and there have been tax cuts to enhance job creation.

    Big business is all too familiar with the concept that you have to spend money to make money, and our tax dollars have bailed out their sorry behinds. And now, they have the audacity to complain about those expenditures?

    And whose jobs are being destroyed by what regulations? The fat cats on Wall Street who lost all our money? The CEOs of failed companies? Deregulation led to an economic collapse that nearly plunged us into the next Great Depression, and all big business can suggest is do more of the same?!

    Why do you, and your Republican stooges so hate America?

    July 14, 2010 04:05 pm at 4:05 pm |
  14. get real

    And the policies that got us into this recession back in 2007 were job creating???

    July 14, 2010 04:07 pm at 4:07 pm |
  15. Buffoons

    Just goes to show this bunch of inexperienced administrators( and I use the term administrators very loosely) and idiots in congress don't now how to manage anything. except taking this country down the tubes with their stupid policies and egotistical communistic attitudes.We are in the middle of a recession and they are steadily destroying jobs and regrowth with their rules and regulations. The moritorium on the drilling is the dumbest thing they could have done, to shut down an industry so a bunch of know nothings can sit around for six months and go duhhh.All this bunch is interested in is redistributing the wealth from the working class to the crack heads of society. Now they stop the capping of the bp well so they can study some more to try to put up the front that they know what their doing.

    July 14, 2010 04:07 pm at 4:07 pm |
  16. Luke Brown

    This is just a political front group for the GOP. In our state, unemployment is dropping and many local business people say the local economy has bottomed out.

    Thank you Mr. President.

    July 14, 2010 04:08 pm at 4:08 pm |
  17. chill

    Shame you guys weren't all that concerned about the deficits when Bush was feathering your nests. And a shame you weren't concerned about the job-destroying lack of and lax oversight as well. Somehow slipped your attention? Maybe big business wouldn't be villified if they quit acting like villians. And by the way, my taxes were reduced.

    July 14, 2010 04:08 pm at 4:08 pm |
  18. Stacie

    What? No mention of how much the Bush tax cuts and the unfunded wars continue to contribute to the deficit.

    July 14, 2010 04:09 pm at 4:09 pm |
  19. the real

    Big business had tax cuts for 8yrs and look were it got us. trickel down my ass

    July 14, 2010 04:09 pm at 4:09 pm |
  20. IS

    The only thing at odds here is that businesses won't hire because they don't want it to look like Obama has succeeded.

    July 14, 2010 04:09 pm at 4:09 pm |
  21. Allen Hussein

    In one sentence they are whining about the "massive deficits" and in the next they are shilling for tax cuts. Typical!

    July 14, 2010 04:10 pm at 4:10 pm |
  22. S.B. Stein E.B. NJ

    What policies are they talking about? Businesses need to know that they will be held responsible for mistakes they make that affect other people. Businesses don't seem to understand that they too can make morally good and wrong choices. Obama is noting that businesses need to step up to the plate to help people.

    July 14, 2010 04:11 pm at 4:11 pm |
  23. American Patriot - a "real" tea partier

    No, businesses destroyed jobs because they keep outsourcing them to India.

    July 14, 2010 04:11 pm at 4:11 pm |
  24. Dennis

    And let me guess, the Bush policies created HOW MANY JOBS????
    Get over it and admit your bonuses should dry up and quit raping the American people.

    July 14, 2010 04:12 pm at 4:12 pm |
  25. Ron in california

    There are more businessmen in the Chamber than in Gov't....BO ought to listen

    July 14, 2010 04:13 pm at 4:13 pm |
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