General Electric (NYSE:GE) CEO Jeffrey Immelt continues to lose credibility; increasingly so since being installed as Chairman of President Obama's Council on Jobs and Competitiveness.
In an attempt to cover up Obama's failed economic policies, Immelt said at a jobs summit at the U.S. Chamber of Commerce, "The people who are part of the business sector, the people in this room, have got to stop complaining about government and get some action underway. There's no excuse today for lack of leadership. The truth is we all need to be part of the solution."
What a strawman assertion.
In reality, the hundreds of billions in so-called stimulus has been an abject failure, and Obama has his man out there attempting to cover up his clueless policies and attempt to place the blame on businesses for the lack of hiring. As if they're supposed to hire in order to make Obama look good, no matter how bad it hurts their businesses.
There's only one reason in the world businesses don't hire, and that's because there is no reason to.
Businesses will either offer overtime to existing employees when they get new business that is temporary in nature, or higher when the new business appears to be long term.
So for Immelt to call for businesses to lead in job creation is an ignorant statement, but one that most readers don't understand, as far as how businesses interact with economic conditions.
Businesses do research in order to get the best available data to make these types of decisions. When the data gives them the go ahead, or long-term business is secured, businesses will higher accordingly. If not, they remain in a holding pattern, as they have for a long time.
It has nothing to do with leadership at all, but the realities of the current economic circumstances, and the socialist attitude and disposition of Obama, which is of course, anti-business.
Obama is all over the map concerning his policies, and you don't know who is going to show up on a given day. That leads to uncertainty over the near- and long-term future, and businesses won't make decisions to hire until there is more clarity.
A survey be the U.S. Chamber of Commerce found that 30 percent of businesses weren't hiring because of economic uncertainty, and another 22 percent said weak sales was another reason.
Both of those ensure there will be no hiring anytime soon by businesses, and neither should they be if they are to survive.
Most businesses see the government policies of Obmaa as the major barrier to the economy improving, and see the need for changes in that regard if things are going to improve.
For Jeffrey Immelt to call for businesses to lead in hiring in the current economic environment is in reality a call for businesses to potentially sacrifice themselves to make Obama and the Democrats look good.
Immelt is lowering himself in the eyes of the business community, increasingly being looked upon as a shill for Obama, as he lectures businesses to stop complaining about him and his disastrous economic policies.
Business owners and managers agree, as Obamacare, too much regulation and uncertainty over Obama continue to be the major obstacles for about 40 percent of those who were surveyed.
The greatest hindrance to economic recovery and ending the deep recession is Obama and the Democrats. The solution is to vote them out of office.
Incredibly, U.S. Chamber of Commerce President and CEO Thomas Donohue, and Immelt called for Congress quickly agrees to raise the debt ceiling in order to remove that as an uncertainty.
To use the debt ceiling issue as the reason for uncertainty of businesses is bizarre at the least. Uncertainty has been rampant for several years, and the debt ceiling is irrelevant in that regard.
What Donohue and Immelt are doing is confirming they're in bed with Obama and the government, as the only reason to be concerned about that is because they are looking for more taxpayer handouts; something GE is among the leaders in the U.S. in.
There should be no raising of the debt ceiling, no new taxes, decreased regulation, cutting corporate taxes, along with spending. Those actions are what will boost the economy, not more government interference in the economy and crony capitalism.
For Immelt, it would be nice to see him become a businessman rather that someone bagging at the public trough and taking the attention away from failed policies of Obama and the Democrats.
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