Quantcast
Connect with us

Bloomberg reporter challenges Commerce Chamber pres. over attacks on Obama

Published

on

The US Chamber of Commerce launched a political broadside against Democrats and the Obama administration Wednesday, accusing the administration of harming the economy through its health care reform and financial reform agendas.

“Instead of continuing their partnership with the business community and embracing proven ideas for job creation, they vilified industries while embarking on an ill-advised course of government expansion, major tax increases, massive deficits, and job-destroying regulations,” the Chamber said in an open letter (PDF) to the president.

ADVERTISEMENT

“Through their legislative and regulatory proposals … the congressional majority and the administration have injected tremendous uncertainty into economic decision making and business planning,” the letter continued. “We call upon policymakers of all parties and philosophies to end the finger-pointing and work constructively with the job creators to reduce uncertainty, restore confidence, and restart the recovery.”

Many of the Chamber’s talking points are so similar to ones used by Republicans that it prompted The Hill to report that “the chamber … is now casting its lot with Republicans.”

The letter to the president coincided with a Chamber-sponsored “jobs summit,” currently taking place in Washington, DC.

Among the Chamber’s proposals to stimulate job growth was a call for the Bush-era tax cuts, set to expire at the end of this year, to be extended.

ADVERTISEMENT

“In one bold, swift move, this would substantially boost investor, business, and consumer confidence and would infuse our economy with fresh momentum,” the Chamber said in its letter.

But that is an assertion that is hotly contested among lawmakers and economists. Many economic theorists say that, far from stimulating sustained economic growth, the Bush tax cuts widened the gap between rich and poor and created the strain on consumers that ended in the real estate market collapse of recent years.

The Congressional Budget Office has released reports showing that the tax cuts, enacted in 2001 and 2003, have contributed significantly to the US’s budget deficit. In at least one year since the cuts were enacted, the federal government would have run a surplus had the tax cuts not existed.

ADVERTISEMENT

Extending the tax cuts for all earners would cost the federal government an estimated $2.2 trillion over 10 years; extending only the portion on people earning more than $250,000 would cost an estimated $678 billion over the same time period.

In a surprisingly confrontational interview, Betty Liu of Bloomberg TV grilled Chamber President Tom Donohue over the increasingly bitter, partisan tone of his chamber’s communiques.

“Is this [jobs] summit just to air what you think has gone wrong, or is there really going to be anything solid coming out of this?” Liu asked.

ADVERTISEMENT

“We’re not airing any grievances with the White House,” Donohue said, arguing that his chamber wants to bring attention to job-creation policies.

“Did you invite White House officials to speak at this summit?” Liu asked.

“No, we didn’t,” Donohue replied. “We regularly invite White House officials to participate in our activities, often they don’t come. The cabinet secretaries come. Although the president was over the other day when the the president of Russia was here….”

ADVERTISEMENT

Pressed again by Liu to explain why the Chamber wouldn’t want White House officials at their jobs summit, Donohue said the Chamber has “a very full agenda” and needs to concentrate on activities like “giving awards to job creators throughout the country.”

This video is from Bloomberg’s In the Loop, broadcast July 14, 2010.


ADVERTISEMENT

Watch this video on iPhone/iPad

Enjoy this piece?

… then let us make a small request. Like you, we here at Raw Story believe in the power of progressive journalism — and we’re investing in investigative reporting as other publications give it the ax. Raw Story readers power David Cay Johnston’s DCReport, which we've expanded to keep watch in Washington. We’ve exposed billionaire tax evasion and uncovered White House efforts to poison our water. We’ve revealed financial scams that prey on veterans, and legal efforts to harm workers exploited by abusive bosses. We’ve launched a weekly podcast, “We’ve Got Issues,” focused on issues, not tweets. And unlike other news outlets, we’ve decided to make our original content free. But we need your support to do what we do.

Raw Story is independent. You won’t find mainstream media bias here. We’re not part of a conglomerate, or a project of venture capital bros. From unflinching coverage of racism, to revealing efforts to erode our rights, Raw Story will continue to expose hypocrisy and harm. Unhinged from billionaires and corporate overlords, we fight to ensure no one is forgotten.

We need your support to keep producing quality journalism and deepen our investigative reporting. Every reader contribution, whatever the amount, makes a tremendous difference. Invest with us in the future. Make a one-time contribution to Raw Story Investigates, or click here to become a subscriber. Thank you. Click to donate by check.

Enjoy this piece?

… then let us make a small request. Like you, we here at Raw Story believe in the power of progressive journalism — and we’re investing in investigative reporting as other publications give it the ax. Raw Story readers power David Cay Johnston’s DCReport, which we've expanded to keep watch in Washington. We’ve exposed billionaire tax evasion and uncovered White House efforts to poison our water. We’ve revealed financial scams that prey on veterans, and efforts to harm workers exploited by abusive bosses. We’ve launched a weekly podcast, “We’ve Got Issues,” focused on issues, not tweets. Unlike other news sites, we’ve decided to make our original content free. But we need your support to do what we do.

Raw Story is independent. You won’t find mainstream media bias here. We’re not part of a conglomerate, or a project of venture capital bros. From unflinching coverage of racism, to revealing efforts to erode our rights, Raw Story will continue to expose hypocrisy and harm. Unhinged from corporate overlords, we fight to ensure no one is forgotten.

We need your support to keep producing quality journalism and deepen our investigative reporting. Every reader contribution, whatever the amount, makes a tremendous difference. Invest with us in the future. Make a one-time contribution to Raw Story Investigates, or click here to become a subscriber. Thank you.



Report typos and corrections to: [email protected]. Send news tips to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Facebook

Priest bound and gagged teen boy with masking tape and held him hostage in church’s janitor room

Published

on

A Michigan Catholic priest has been charged with one count of false imprisonment after he wrapped a teenage boy in plastic wrap and covered his eyes and mouth with masking tape, all while trapping him in the janitor's room of a church, ClickOnDetroit reports.

Rev. Brian Stanley, 57, faces up to 15 years in prison and would also have to register as a sex offender if convicted.

Stanley was reportedly entrusted by the teen's family as a counselor before the incident took place in the fall of 2013 at St. Margaret's Catholic Church in Otsego.

Continue Reading

Breaking Banner

Sarah Huckabee Sanders and Fox News ripped to shreds by media analyst for running state-news network briefing for Trump

Published

on

Washington Post media critic Erik Wemple unleashed hellfire on former press secretary Sarah Huckabee Sanders and Fox News for hiring her to deliver the White House spin for the president on their air.

Fox News, which has only modest actual news reporting outside of its opinion arm, but that's no reason to hire a liar to the network, he explained.

He cited the greatest hits from the Huckabee-Sanders show that happened less and less frequently from the White House podium. He included everything from the time she doctored a video of CNN's Jim Acosta to accuse him of assaulting a White House intern to her accusation of "fake news" to every question she didn't like.

Continue Reading
 

Breaking Banner

Brutal new recession indicator: Manufacturing sector contracts for the first time in a decade

Published

on

Warning signs keep piling up that the American economy is slowing down, if not headed for an outright recession.

CNBC reports that IHS Markit's U.S. manufacturing purchasing managers index this month contracted for the first time since September 2009.

Continue Reading
 
 

Thank you for whitelisting Raw Story!

As a special thank you, from now until August 31st, we're offering you a discounted rate of $5.99/month to subscribe and get ad-free access. We're honored to have you as a reader. Thank you. :) —Elias, Membership Coordinator
LEARN MORE
close-link
close-image