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Intel CEO Blasts Obama Administration, Says Anti-Business Policies Are Killing The Country

Posted by EU Times on Sep 1st, 2010 // No Comment

intel paul otellini

Silicon Valley leans Democratic. Based on comments made by one of the Valley’s biggest hitters, that may be changing.

Intel CEO Paul Otellini got a lot off his chest at the Aspen Forum last night–with most of his frustration directed at the business-stifling policies of the Obama administration and the decline and fall of American competitiveness.

Here are some key quotes reported by CNET’s Declan McCullagh:

* “Unless government policies are altered… ‘the next big thing will not be invented here. Jobs will not be created here.’

* “The U.S. legal environment has become so hostile to business…that there is likely to be “an inevitable erosion and shift of wealth, much like we’re seeing today in Europe–this is the bitter truth.'”

* “Not long ago…’our research centers were without peer. No country was more attractive for start-up capital… We seemed a generation ahead of the rest of the world in information technology. That simply is no longer the case.'”

* “Otellini singled out the political state of affairs in Democrat-dominated Washington, saying: ‘I think this group does not understand what it takes to create jobs. And I think they’re flummoxed by their experiment in Keynesian economics not working.’ ”

* “If our tax rate approached that of the rest of the world, corporations would have an incentive to invest here,” Otellini said. But instead, it’s the second highest in the industrialized world, making the United States a less attractive place to invest–and create jobs–than places in Europe and Asia that are “clamoring” for Intel’s business.”

Read Declan’s whole article at CNET.

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