To listen to President Barack Obama, corporate America is a juggernaut, a force of calculating capitalists who ceaselessly plot against his national reforms. To listen to Ivan Seidenberg is to wish the president were even a little right.
Mr. Seidenberg, officially Verizon’s CEO, moonlights as chairman of the influential Business Roundtable, the “association of chief executive officers of leading U.S. companies.” That would be the same Business Roundtable that woke up this past month to discover the White House has been playing it for a patsy. It turns out that actively supporting a pro-tax, pro-regulation Democratic majority on issues like health care doesn’t really get you anything save more taxes and more regulation.
This has clearly come as a shock to the Business Roundtable, as Mr. Seidenberg made clear this week with his newsy and newfound criticism of the White House. The chairman revealed in a speech to the Economic Club of Washington that he’d become “somewhat troubled” by a “disconnect between Washington and the business community.” Here he and his fellow CEOs had “worked closely with policy makers”—they’d even pushed ObamaCare. And yet! “We see a host of laws, regulations and policies being enacted that impose a government prescription” on private actors. Truth was, Washington had created a downright “hostile environment” for job creation!
Well, you vote into office a socialist-in-chief, and you live to regret it.
Here you can look at Private Sector Losses vs. Public Sector Gains
Since the beginning of the recession (roughly January 2008), some 7.9 million jobs were lost in the private sector while 590,000 jobs were gained in the public one. And since the passage of the stimulus bill (February 2009), over 2.6 million private jobs were lost, but the government workforce grew by 400,000.
Live and learn, live and learn.