CEOs Threatened by Obama’s “Arrogant Ignorance”

CEOs Threatened by Obama’s “Arrogant Ignorance”

September 27th, 2010

Investors Business Daily

He doesn’t look or sound radical. President Obama, in fact, is so calm, almost regal, he makes government takeovers and redistribution schemes seem almost reasonable. But the facade is wearing thin.

Fortune 500 leaders who believed Obama’s moderate rhetoric, and even raised cash and voted for him, have soured on him. They now believe he’s bad for business and hostile to the American free enterprise system.

Even die-hard Obama fan Tom Wilson, head of Allstate, says the president could have used some executive experience on his all-academic economics team. Not a single former corporate executive is in Obama’s Cabinet or among his top economic advisers. “I think it was a hiring mistake for the administration,” Wilson told CNN last week.

Wilson also suggests Obama convene a summit with business leaders to clear the air. “I’d spend less time on the G-20 and more time on the U.S. 100,” he advised.

Problem is, CEOs have walked away from prior White House luncheons shocked at (1) Obama’s dismissive reaction as they try to explain the harm of his anti-business policies and (2) his shallow understanding of business and economic matters.

They’re not just put off by the president’s harsh depiction of “fat cat bankers” and other anti-business bashings. They’re more disturbed by his arrogant ignorance. “The truth is that not even the Franklin Roosevelt administration was as hostile to and ignorant about free enterprise as this administration is,” said publisher Steve Forbes.

Few before the election dared call Obama the “s” word. Independent voters, who ensured Obama’s victory, generally considered him to be a centrist or slightly left of center. Now they view him as extremely liberal. And by Democrats’ own polling, a solid majority — 55% — of all likely voters now think “socialist” is a more accurate way to describe Obama.

Hate to say we told you so. But we did.

Read more.

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