Complaints about economic uncertainty created by Obama’s health care bill and the financial regulation bill have already been percolating for a few weeks. Much of this was kicked off by an explosive indictment of Obama’s policies by Verizon CEO Ivan Seidenberg – who has been a key business ally of the president’s – in late June.
And though the White House feels that it has true free market believers such as Treasury Secretary Tim Geithner and National Economic Council director Larry Summers in key decision-making positions, many top business leaders see the two – who have both been in government or academia their entire lives – as poor substitutes for men or women with actual business expertise.
“One of the concerns in the business community writ large is that this administration has no former CEO – manager of a business enterprise – anywhere in this administration,” said R. Bruce Josten, a top official at the U.S. Chamber of Commerce who oversees its government affairs division.