Wednesday, June 23, 2010

Even Obama's business "allies" can see the writing on the wall

It reads, "You're bankrupting the Republic."

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."