Sunday, December 12, 2010
Obama to meet with CEOs in Blair House session
President Obama will meet with 20 CEOs this Wednesday to discuss on the best way to accelerate job creation. This meeting will take place in the Blair House and it will extend from morning to lunch. The White House Deputy Communications Director Jen Psaki said that "the biggest challenge we face moving forward is … in making sure we are preparing the next generation to compete globally". This meeting will focus on investment in clean energy technology, reducing the federal deficit and also on increasing exports.
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One of the first things we learn in economics is that people respond to incentives. I don't understand how President Obama and the American people can expect CEOs to commit their companies to investing in clean energy technology or creating jobs when CEOs' bonuses give them incentives to ignore the big picture for short term gains. President Obama already said he wants these 20 super-rich men tax cuts. Their businesses are prospering and they have no incentive to help out the millions of unemployed Americans.
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