Intel CEO: Obama Doesn’t Understand Jobs or the Economy

Red State
14 Sep 2010

CEOs of large, high profile companies like Intel tend to be averse to making strong political stands, especially during election season.  They understand that their companies can quickly become targets for regulation that can end up costing shareholders millions (or billions of dollars).  Most CEOs tend to throw some money at candidates who are expected to win and keep their heads down. Which is why Intel CEO Paul Otellini’s total evisceration of Obamas understanding of the economy in the middle of an election season was such a shocking breath of fresh air today.

The decisions so far have not resulted in either job growth or increased confidence. When what youre doing isnt working you rethink it and I think we need to rethink some plans,” he said at the Intel Developers Forum in San Francisco.

Otellini credited the White House for listening to him and other business leaders. “I really think they’re trying,” he said, adding that he doesn’t think there is anti-business sentiment from the administration.

But Otellini said the $787 billion economic stimulus package passed last year has not done enough to solve problems in the job market. He argued that money not yet spent from that program might be better off allocated elsewhere and took the administration to task for focusing on short-term projects.

“It doesn’t seem to be working the way it is. Swimming pools in Mississippi are not going to create lasting jobs.”…

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