You are hereRAW Story: Bloomberg reporter challenges Commerce Chamber pres. over attacks on Obama

RAW Story: Bloomberg reporter challenges Commerce Chamber pres. over attacks on Obama


July 14, 2010- 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.

"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.

"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.

FULL STORY HERE:

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