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Welch on Obama: “He’s Fooling People”

Posted by Larry Doyle on May 20, 2009 11:57 AM |

“Fool me once, shame on you. Fool me twice . . . ”

Jack Welch, former CEO of General Electric scorched Barack Obama’s plans in a presentation yesterday in Boston. Welch, author of Jack, Straight From the Gut, pulled absolutely no punches. Bloomberg  reports:

Jack Welch, former chief executive officer of General Electric Co., criticized the government- backed bankruptcy of Chrysler LLC for favoring unions at the expense of creditors and said President Barack Obama’s economic stimulus programs will cause budget deficits.

“I don’t particularly like where he’s taking us,” Welch said, referring to Obama, during an interview yesterday at the Boston Convention Center. Welch, 73, who led GE from 1981 to 2001, was a guest speaker at the New England Business Xpo.

“To get the money he needs, he has to have a fake budget,” Welch said. “He’s fooling people about how we’re going to have the top line support the programs in the middle without enormous taxes and some programs not going.” 

Who in Washington and our mainstream media are calling Obama and team on the carpet for this charade? In order for capitalism, free markets, and ultimately democracy to thrive there needs to be accountability and transparency in the process.

We will not achieve the necessary accountability and transparency without serious questioning and rigorous debate on the issues. Given the current makeup of our legislative bodies, the risks to our country are significant. Without a legislative check, the pressure on the media to expose the massive costs – financial and otherwise – of the Obama agenda are paramount. Aside from Bloomberg and typically the Wall Street Journal, what other outlets are holding Obama accountable?

Who will challenge Obama on his anemic cuts to his MASSIVE budget? When an administration is only able to cut one half of one per cent from a $3.5 trillion budget, you know we have problems.

I will admit I am no fan of Welch. However, he is retired and not making policy. Welch does offer faint praise to Obama. Bloomberg offers: 

Welch praised Obama’s communication skills, particularly his speech at the University of Notre Dame on Sunday.

Smooth talking ‘salespeople’ can sell ice to the Eskimos, but ultimately our country needs substance over style!! 


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