Network News

X My Profile
View More Activity
2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

U.S. Chamber: Taxes, deficit could hurt wobbly recovery

There are some positive signs that the damaged economy is starting to recover, but those could easily be snuffed out by policies being put in place by the federal and local governments, U.S. Chamber of Commerce President Tom Donohue plans to say in a speech Tuesday morning.

In the Chamber's annual state of American business address, Donohue plans to warn of higher taxes and deficit-spending.

“Most job creators would like nothing more than to keep their workers employed, create new jobs, and bring some hope and relief to families struggling without a paycheck," Donohue's speech reads, according to excerpts provided to The Post. "But when they look at what’s going on in Washington, in the states, and around the world, they see massive tax increases, health care legislation that contains a burdensome mandate on employers and does not control costs, a climate bill and potential EPA regulations that could raise energy prices and impose new layers of bureaucracy, financial services legislation that could choke off their access to capital, a renewed push by unions to pass card check, a trial bar working with allies in Congress to expand opportunities for new litigation, the rise of trade isolationism, and the federal government planning to expand the national debt by at least $9 trillion over the next decade.”

The Chamber has been in a struggle with the Obama administration, which it believes has pursued anti-business policies, especially in its push to reform healthcare. In response, "The White House is moving aggressively to remove the U.S. Chamber of Commerce from its traditional Washington role as the chief representative for big business," Post White House reporter Mike Shear wrote in October.

Check back here later Tuesday for updates and more details on the address.

-- Frank Ahrens
Follow me on Twitter at @theticker

By Frank Ahrens  |  January 12, 2010; 9:00 AM ET
Categories:  Obama , The Ticker  | Tags: Obama, Thomas Donohue, U.S. Chamber of Commerce  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   StumbleUpon   Technorati   Google Buzz   Previous: SEC seeking more charges against Bank of America over Merrill deal
Next: U.S. Chamber: We'll be heavily involved in mid-term elections, we get along 'fine' with White House


Depression Obama by the numbers

at 10:00 am TODAY January 12, 2010 the Government releases the ratio of how many americans loooking for a job for every 1 job opening

"The Job Openings and Labor Turnover Survey (JOLTS) program produces data on job openings, hires, and separations.

Next Release: January 12, 2010
Job Openings and Labor Turnover data for November 2009 is scheduled to be released January 12, 2010, at 10:00 A.M. Eastern Time"


Depression Obama-why YOU may lose YOUR job

see corporation's share prices go UP if they fire YOU as they are reducing headcount

then Obama takes credit for the stock market rise

and even if you work for the Federal Govt in the midst of the prok stimulus you can get fired,

just ask the 25,771 Federal Govt workers laid off as of 12-19-2009 which EXCLUDES returning discharged veterans

Obama--he just doesn't get it

Obama--capitalism challenged

Posted by: ProCounsel | January 12, 2010 9:11 AM | Report abuse

A CBS News poll -- conducted Jan. 6-10 -- found that 46 percent approve of how Obama is handling his job while 41 percent say they disapprove of the president's performance.

The results marked the first time Obama's approval rating has slipped below 50 percent in CBS News polling. Just last month, 50 percent of Americans approved of Obama's performance in a CBS poll while 39 disapproved.

While support for Obama remains strong among Democrats, his approval rating among Independent voters has dropped dramatically to 42 percent -- a 10-point decline in recent months, according to the poll.

The paramount issue for Americans, according to the poll, is the president's handling of the economic recession. Forty-one percent of those surveyed approve of Obama's efforts to revive the economy, while 47 percent disapprove, according to the poll.

Posted by: lucygirl1 | January 12, 2010 9:36 AM | Report abuse

Welcome to the Obama Depression.

Heck of a job, Barry. If you had been doing your job, none of us would be out of work.

Posted by: Jerzy | January 12, 2010 10:01 AM | Report abuse

5 out of 6 unemployed americans are.....


over 6 americans looking for a job for every 1 job opening

that means no matter how hard they look,

5 out of 6 unemployed americans will NOT find a job--due to Obama's socialism and failed policies

the Bureau of Labor Statistics reports today January 12, 2010

15,267,000 americans unemployed

2.4 million job openings (November 2009 just announced today)

"Job Openings and Labor Turnover Survey
January 12, 2010

There were 2.4 million job openings in the U.S. on the last day of November 2009."



Depression Obama--why YOU may lose YOUR job

Posted by: ProCounsel | January 12, 2010 10:15 AM | Report abuse

The US Chamber of Commerce has absolutely zero credibility. Zilch. Nada. Zippo.

This is probably the only thing I agree with Lou Dobbs about.

Posted by: exerda | January 12, 2010 11:37 AM | Report abuse

LOOK at the gas prices obozo is causing.
You can't blame Bush/Cheney for the gas prices anymore. Obozo bowed to the Shiek.

Gasoline prices on Monday continued their push toward $3 per gallon. The only question now is when?

Prices have been jumping on the back of a strong oil market where the cost for a barrel has spiked 20 percent in the past month on the New York Mercantile Exchange.

Skyrocketing gasoline prices couldn't come at a worse time for motorists, who will see heating bills jump after the worst cold spell in years.

Oil prices are now about three times what they were a year ago.

"There is a long history of tripled oil prices causing consternation among consumers," Peter Beutel of Cameron Hanover said in a report Monday. "We are not there, yet, but gasoline prices at more than $3.00 is certainly an unwelcome sign of consumer distress."

Prices rose 1.4 cents overnight to $2.749 per gallon, according to auto club AAA, Wright Express and Oil Price Information Service. Prices have climbed 8.4 cents a gallon in the past week and are 95.5 cents higher than a year ago.


Posted by: twotimetuna | January 12, 2010 1:16 PM | Report abuse

As a start, the Chamber of Commerce should tell its members to pay back the tax breaks passed by Bush which helped cause the deficits.

We have the lowest effective tax rate
for corporations in the world. Time to ante up.

Posted by: wesatch | January 12, 2010 1:34 PM | Report abuse

The comments to this entry are closed.

RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company