This is an adaptation of chapter 10 from Hunter Lewis’s
book Crony Capitalism in America: 2008-2012, available
in the Mises Store.
During the presidential campaign of 2012, an online
commentator observed that President Obama had not met with his Jobs Council for
six months. How could this be, the commentator asked, when jobs were foremost
on the president’s agenda? The answer was not hard to discover.
The Council was headed by General Electric CEO Jeffrey
Immelt, a noted Obama political backer. Other members included Penny Pritzker,
an heiress who served as Obama’s finance chairwoman in 2008, and Richard
Trumpka, president of the AFL-CIO, one of the largest Obama campaign
contributors. The group was established after the 2010 mid-term election losses
as a device to emphasize the administration’s focus on jobs but, more
importantly, to recognize political allies and campaign donors and prepare for
the 2012 presidential election. This was more or less acknowledged when, after
the president’s re-election, it was disbanded, despite the persistence of high
unemployment…..To Read More…..
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