Why no jobs? – CEOs Speak Up

August 26, 2010 06:23

Unless government policies change, and fast, he said, “the next big thing will not be invented here. Jobs will not be created here.”

FULL STORY at IBDeditorials

That’s pretty tough stuff. But Otellini was just getting warmed up.

As CNET news reports, Otellini said that at one time “no country was more attractive for startup capital … We seemed a generation ahead of the rest of the world in information technology. That is simply no longer the case.”

The Intel chief was harsh on the massive spending by the White House and Congress — and on the failure to extend the Bush tax cuts, the takeover of the health care industry, and the threat of new taxes on businesses to remove carbon from the atmosphere.

“I think this group does not understand what it takes to create jobs,” he said. “And I think they’re flummoxed by their experiment in Keynesian economics not working.”

If America’s ruling class keeps going down this road, “people will not invest in the United States. They’ll invest elsewhere.”

FULL STORY at IBDeditorials

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