What is the State of American Business?

In prior years, the U.S. Chamber has been able to describe the state of the American economy - and thus the state of American business -- in a single word or phrase.

Not this year. There are both positive and negative signs to point to.

On the plus side, the economy is still growing, still creating jobs, and it has been providing decent pay increases for workers.

Yet it's also true that growth has slowed, and that some sectors such as housing are hurting badly.

The impact of the subprime mortgage crisis and high oil prices are being felt throughout the economy. Americans are concerned. And when they're concerned, we're concerned.

As we work through a period of economic weakness, it is critical that policymakers make decisions that spur growth and make our economy stronger and more competitive.

To do this we must take decisive action on many fronts.

We have a public education system with a dismal drop-out rate of 30 percent. In the African-American and Hispanic communities, it's more than 50 percent. That is unacceptable.

We have 77 million baby boomers on the verge of retirement, severe shortages of scientists, engineers and technology workers, and crops rotting in the fields - because there's no one available to harvest them. Yet Congress has failed to pass comprehensive immigration reform. That is unacceptable.

We have a physical infrastructure that is rapidly running out of capacity to efficiently move people, freight, fuel, power, and information.

The costs of this negligence can be measured not only in lost productivity and jobs, but in the loss of innocent lives. That is unacceptable.

We have an approach to energy that is a cross between stupidity and hypocrisy. Stupidity - because we are dangerously dependent on foreign sources - and restrictive policies have driven prices through the roof for families and businesses.

Hypocrisy - because our leaders condemn these prices and then continue to impose restrictions that discourage the production of clean, diverse domestic energy. And that is unacceptable.

We have a legal system that can be described in one word - broken. We spend over a quarter of a trillion dollars a year on endless frivolous lawsuits. That is unacceptable.

We have crucial capital markets that drive growth and underpin the life savings of millions of Americans. Yet they are being crippled by excessive taxation, regulation and litigation. That is unacceptable.

Ninety-five percent of our customers live outside the United States. Yet today we are being told that there should be no more trade agreements to open markets for American workers and businesses. It doesn't make any sense--and it's unacceptable.

And while some of our European competitors are learning from the mistakes of their past, we seem intent on repeating our own mistakes -and even some of theirs!

They are replacing rigid workplace rules with more freedom and flexibility. They are reducing tax rates to be more competitive and innovative.

Yet in our country, many in Congress are going right along with an agenda that would impose EU-style handicaps on our workers and businesses.

We have seen tax hikes proposed in Congress, in the states, and on the presidential campaign trail that add up to trillions of dollars.

If you are looking for a perfect recipe for that recession everyone is talking about, that's it -right there!

Change is now the big buzz word and, of course, we need it in many areas. The change America needs must rekindle growth and reaffirm our leadership in the global economy. We can't solve our problems or pay for solutions without a strong and competitive economy.

To succeed, we need honest, practical solutions that build on the strengths of a free society and a free enterprise economy.

Above all, we must not stifle the risk-taking, entrepreneurship, and spirit of enterprise that drives America's greatness. Government can do many constructive things. But counting on Washington to provide complete financial security -- at the expense of freedom and opportunity -- is a bad bargain. In the end, Americans would find themselves neither prosperous nor secure.

Now, more than ever, when it comes to American jobs and American products, we must be strong and aggressive. Now, more than ever, we need to enact common sense policies that will enable American workers and businesses to compete and win on a global scale.

Contrary to some of the rhetoric we hear on the campaign trail, America's entrepreneurs and businesses are not the enemy. We are all in this together, and we all need to work together!

The State of American Business can be found at www.uschamber.com

Follow Tom Donohue on Twitter: www.twitter.com/chamberpost

Comments

[Pero]

Privatize profits and socialize risks -- this has been the policy of corporate America

We need more colonial administrators for all our current and next "wars for democracy"

[Pero]

We all need to work together with corporate America.
Support $400M++ retirement of CEOs of oil companies - it is a necessary hush money for their silence on our "wars to liberate oil sources" from their owners

[swift goat pet for truth]

So, you agree that Exxon Mobil should pay on 13% on its oil profits! Sweet.

[givemycountryback]

Excuse me, but I would like to know where all the job growth is, yaeh if you want a MCjob with no benefits, low pay, and certainly no sense of dignity. My teen age son has worked fast food and they treat their employees awful..but then there is always Walmart. They treat their employees even worse. I am so sick of hearing about growth, there is NO growth and they can crunch the numbers and lie all they want, it isn't happening. These corporations should be paying more taxes and not just trying to get more productivity out of their workers before they are downsized and thrown to the wolves. Whole communities are destroyed by these vultures. People are afraid to drive to the gas station, because they don't know what outrageous price there will be today. They are afraid to open their utility bills becaue they doubt if they will be able to come up with the extra hundreds it has gone up from last year. And don't mention going to the grocery store where prices are skyrocketing on everything, heaven forbid you could afford a piece of meat. People like you make my blood boil.

[January]

There's Naomi Klien's "Shock Doctrine" of crisis capitalism in a nutshell: look at all these problems; giving more tax dollars to capitalist corporations is our only hope? (After 27 unrelenting years of obeying that mantra? under Reagan, under Clinton, and especially under Bush and his GOP congresses?).

I suppose so. Heck if Americans were dumb enough to re-elect the Shrub, we'll do whatever we are told.

[Cathexis]

I feel for ya, Mr Donahue.

But I just can't reach ya.
does has been clearly noted over the past 7 years, when left to its own devices, Business will not self-regulate. It is clearly time to provide a level playing field so that those Businesses who WANT to be ethical, can ... without penalty.

Want fewer lawsuits? Implement basic product and worker safety regulation.

Want a sane energy policy? Stop allowing the Petroleum and Coal industries to stick their hands so far up politician's ***es that they can make the pols dance like puppets.

As for code word euphemisms like "flexibility for Corporations," have the honesty to call it what it is: The ability to use employees like disposable commodities, pushing the costs/risks of doinbg business back on them, rather than on the Corporation, itself.

Above all: Corporate shills should stop setting the structure up as a zero-sum game where Employers try to screw employees.

You measure success in terms of profits and productivity ... which must be ever increasing, at any and all costs.

I measure success in terms of quality of life. While I don't begrudge you opportunities to work together for mutual improvement, I'm damned tired of being asked/coerced to subjugate my success for yours.

[parisblues]

Nice try, Tom. I'm still voting for John Edwards.

[joebaggadonuts]

Thanks Tom, for allowing the negative criticism to be published here.

[Tator]

We have a public education system with a dismal drop-out rate of 30 percent.-Liberals own the schools and control all aspects of the education system.

We have 77 million baby boomers on the verge of retirement-Liberals created Social Security and Medicare which have a 50+ TRILLION future obligation. The middle class is about to have income tax increases that will keep them poor.

Severe shortages of scientists, engineers and technology workers-Liberals have dumbed down the school curriculum to the point today’s youth are dumber than rocks.

Crops rotting in the fields - because there's no one available to harvest them. Yet Congress has failed to pass comprehensive immigration reform. That is unacceptab­le.-Libera­ls tried to give citizenship to criminals. We stopped them this time.

We have an approach to energy that is a cross between stupidity and hypocrisy.-Liberals blocked Nuclear plants, domestic drilling and building refineries.

We spend over a quarter of a trillion dollars a year on endless frivolous lawsuits. That is unacceptab­le.-Libera­l Trial Layers to blame for this one. One even “channels” dead people and is running for President.

Yet they are being crippled by excessive taxation, regulation and litigation. That is unacceptable.- Liberals lifeblood-TAX TAX TAX

We have seen tax hikes proposed in Congress, in the states, and on the presidential campaign trail that add up to trillions of dollars.-All by Liberals. Now when you put SS and Medicare on top of it the working ,man might as well just hand his whole check to the government.

So liberals you can pretend it is Bushes fault but when look at what is really causing our financial woes you see it is because of Liberalism-plain and simple.

[mommadona]

"As we work through a period of economic weakness, it is critical that policymakers make decisions that spur growth and make our economy stronger and more competitive."

Excuse me? Who is "we" here, sir?

I understand the Chamber of Commerce is a big fan of "free trade".

That means NO INTERFERENCE by those 'policy makers'....correct?

"Don't fence me in".....well, sir.

Open fields with no protective fences leads to where your business entities are today - ON THEIR OWN....in the cold, cold world of dog eat dog FREE TRADE.

NOW, those very same "BRAVE NEW WORLD ORDER" types want....*g­asp....the GOVERNMENT to arrange POLICIES that BENEFIT THEM so they won't fail.....

Now, stand back a minute and look at what's wrong with this scenario from an American Taxpayer's point of view.

There ya go.
You broke it, you own it.
Shoe, meet other foot.

(PS - the DLC bathroom is just down the hall).

[mommadona]

"As we work through a period of economic weakness, it is critical that policymakers make decisions that spur growth and make our economy stronger and more competitive."

Excuse me? Who is "we" here, sir?

I understand the Chamber of Commerce is a big fan of "free trade".

That means NO INTERFERENCE by those 'policy makers'....correct?

"Don't fence me in".....well, sir.

Open fields with no protective fences leads to where your business entities are today - ON THEIR OWN....in the cold, cold world of dog eat dog FREE TRADE.

NOW, those very same "BRAVE NEW WORLD ORDER" types want....*g­asp....the GOVERNMENT to arrange POLICIES that BENEFIT THEM so they won't fail.....

Now, stand back a minute and look at what's wrong with this scenario from an American Taxpayer's point of view.

There ya go.
You broke it, you own it.
Shoe, meet other foot.

(PS - the DLC bathroom is just down the hall).

[Novista]

"On the plus side, the economy is still growing, still creating jobs, and it has been providing decent pay increases for workers."

Lost me, too, drk~

I wonder if he knows that gullible is not in the dictionary? ...

No matter, anyone who takes government talking points as truth must believe that assertion of "we create our own reality".

We are already in recession and I fear I left it too late to reserve a lamppost.

[NABNYC]

Businesses want captive consumers, unlimited price increases, slave labor, elimination of all employee safety rules, elimination of payroll taxes and overtime, free dumping of toxins in the land, the water, and the air. Zero liability for injury or death caused by the products they sell. Is that about it? Oh yeah, and no taxes for businesses.

Working people, on the other hand, want a decent wage, healthcare, vacations, an 8 hour day, strict overtime rules, job security, elimination of the employment at will concept, restrictions on CEO and management looting of business, restrictions on outsourcing jobs or hiring illegal immigrants and forcing down wages and benefits. They want clean air, water, land, and food and products that are safe to eat and to use. They want businesses to begin paying taxes again, like they used to before they bribed the politicians to cut their taxes.


Business used to be a part of our community. No more. Now they have organized into national and international groups designed to destroy the rights of workers and consumers, and have no loyalty whatsoever to anyone.

So no, actually, business and working people are not on the same side, and do not want the same thing.

[realitytrumpsbull]

When you hear people talking 'economy', you also hear the word 'model'. MY suggestion is,
take THIS particular model and chuck it out the
window, and then run downstairs and find out
where it landed, and jump up and down very
vigorously on the pieces, the credit card racket being the first and most deserving
piece of the aforementioned vigorous jumping-up­-and-down. Then, when we get tired of that, then
the other aspects of all of this can be addressed. But first, the Con Me needs to
be cleared up and the run-amok indebtedness
looked at. One of the problems is that we're
awash in red ink, both personally as well
as nationally. The debt is north of 9 trillion,
and woe betide us if certain parties were to
suddenly call in their chits. Promissory
spending starts with a promise, and frankly
when the wages and prices and stuff have
BURIED so many people, when the numbers have
been jacked up, up, and up, well...I don't
know about you but I don't have a spare
thousand dollars. I think another word for
it is RACKED. Maybe 'globalizationer' wasn't
such a hot idea, and maybe we're going to
spend a few years absorbing the karma of all
that's gone on, here. Soup IS good food...

[mmckinl]

Tom Donohue, the US Chamber of Commerce and their ilk are a big part of the problem, and only represent the powers that be. At every turn Donohue has used the power of the US Chamber lobby to subvert the greater good for the profit of his clientele.

Tom Donohue is the poster child of what is wrong with businesss today.