Jeffrey R. Immelt, the chairman and chief executive of General Electric Co. tapped (--without any apparent irony at all~~W) by President Barack Obama as his next top outside economic adviser, will be asked to guide the White House as it attempts to (appear to care about actually doing anything to~~) jump-start lackluster job creation and spur a muddled recovery.Follow the link to the rest. It's depressing. Another case of O'Bama bending over to the Bosses and Massas...
Immelt's firm stands as Exhibit A of a successful and profitable corporate America standing at the forefront of the recovery. It also represents the archetypal company that's (taken its successes from the hides of itw workers while~~W) hoarding cash, sending jobs overseas, relying on taxpayer bailouts and paying less taxes than envisioned.
The move is the latest salvo in the White House's continued aggressive and very public outreach ("outreach" = obvious cave-in, capitulation to, and fellation of ~~W)to corporate America. Earlier this month, Obama appointed a top (notoriously CorpoRat/corrupt Chicago fixer and former~~W) executive at JPMorgan Chase as his chief of staff, and this week he granted a longtime wish of business interests by (ass-fucking the environment, consumers, and the rest of the citizenry by~~W) promising to review federal regulations perceived as onerous.
Immelt's appointment raises fresh questions (they're not fucking fresh to me~~W) about Obama's courtship and future policy proposals. (People like Immelt who have spoken for~~W) Firms like GE say good jobs will come from lower taxes and less regulation. Immelt told analysts Friday that he'll focus on tax policy and regulation, among other topics.
"A clear problem in the recovery is that it's been a much stronger recovery for business in terms of their profit and earnings than for those folks who work and earn a living in the U.S.," said Gary Burtless, a former Labor Department economist and now a fellow at the Brookings Institution, a research and policy organization in Washington.
Burtless said Immelt was likely hired to reassure corporate America. Political opponents have cast the Obama administration as unfriendly to business interests, and the administration has had difficulty rebutting that theme. Immelt's hiring was yet another step in that direction.