Tuesday, April 5, 2011

Obama Asks GE's Immelt to Head Economic Advisory Panel, Replacing Volcker



President Barack Obama named Jeffrey Immelt, General Electric Co.’s chief executive officer, to head his outside panel of economic advisers, replacing former Federal Reserve Chairman Paul Volcker.
In announcing Immelt’s appointment to take the helm of the newly renamed President’s Council on Jobs and Competitiveness, Obama said the economy is “in a different place” from where it was during the financial crisis when Volcker was brought on, and new ideas are needed to keep the momentum going.
“The past two years was about moving our economy back from the brink,” Obama said alongside Immelt during an event in Schenectady, New York, home to the birthplace of GE’s energy business. “Our job now is putting our economy into overdrive.”
He said Immelt “understands what it takes for America to compete in the global economy.”

BY PAYING ZERO TAXES WHILE ADVISING OBAMA ON WHICH PROGRAMS FOR CITIZENS TO CUT!  An asshole is an asshole and this guy looks like the REAL DEAL to me!

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As Jim Hightower explains it, is that “the wealthiest 1 percent of Americans possess more net worth today than the bottom 90 percent of us combined. Worse, these privileged few and their political henchmen have structured a new economic ‘normal’ of long-term joblessness, low wages, no benefits or worker rights, miserly public services, and a steadily widening chasm between the rich and the rest of us.” We must restore sanity to this nation.