James Pethokoukis
Politics and policy from inside Washington
Is the ambitious Obama agenda freezing the US labor market? CEOs think so
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Just took a break from the Innovation Economy Conference sponsored by the Aspen Institute. Particularly interesting was a joint Q&A with GE’s Jeff Immelt and Intel’s Paul Otellini. The latter said he was concerned about the “amount of variability in the system” created by Washington. Fluctuating policy when it comes to healthcare, energy, taxes. “It is very difficult for anyone to make a hiring decision” when the future is so uncertain, he said. Immelt added he would just like to “know what the rules are.” About ObamaCare, Immelt said healthcare “costs probably aren’t going to be coming down.” He is also worried about cost shifting due to proposed Medicare cuts
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WOW, Jimmy-P, we must have been on a parallel today, I was just talking to my boss about this afternoon, so many variables, unknowns, rules changing daily.Our company is treating it like “crossing the desert” the more water you keep, the slower you sip it, the longer you can last.24 months into the recession, and is there anything in sight, “less-bad” is no longer good enough, or might this be the “new-norm”. 2.8% 3rd quarter, minus all the spending, cash-4-clunkers, FTHB Credit, all the road projects, and we only squeak out 2.8%? What now, the crack is almost gone!?