Yesterday President Obama invited 20 executives to the White House and exhorted them to start hiring to help get the economy moving.
In today’s Financial Times, Mort Zuckerman, publisher of U.S. News & World Reports, says lunch is a nice gesture, but “”an overwhelming majority of those in business believe the
administration is hostile, with little or no understanding of how this
saps the ?animal spirits? required for taking risks on expansions and
start-up.”
The Obama administration does not seem to understand that “It is bad politics and economics to beat up the people who can create the new jobs that the economy needs….business leaders will not be won over by a round of private
lunches and photo ops.”
Zuckerman goes on to echo Dan Henniger’s sentiments in today’s Wall Street Journal: Tax policy should support economic growth, not government. As Zuckerman concludes, “There is no substiute for good policy.”
The Perdue administration should take note.
