Obama's Business Community Allies Jumping Ship

By Brad O'Leary

Even President Obama's closest ally in the business community, the Business Roundtable, is coming to grips with the fact that the President's policy moves are economic poison.

Ivan Seidenberg, CEO of Verizon Communications and Chairman of the association of top business executives, blasted the President and Democrats in congress last month for creating an "increasingly hostile environment for investment and job creation."

According to Seidenberg, Obama and his Democratic allies are enacting tax increases and regulatory burdens that are preventing economic growth and "harm our ability…to grow private-sector jobs in the U.S."

"In our judgment," said Seidenberg, "We have reached a point where the negative effects of these policies are simply too significant to ignore."

In the President's defense, he's never had to run a business or make a payroll in his life.

Seidenberg continued, "We believe the cumulative effect of these proposals will help defeat the objectives we all share – reducing unemployment, improving the competitiveness of U.S. companies and creating an environment that fosters long-term economic growth."