Paul Krugman On Obama’s Pivot To The Center: It’s “Kinda Sad”

Many are applauding President Obama’s recent efforts to work with business leaders (having just appointed GE CEO Jeffrey Immelt as the chair of the White House’s new Council on Jobs and Competitiveness) and to bring in fresh blood to his staff who are willing to compromise with Republicans. Even conservative commentator George Will was mildly impressed with Obama’s ability to win back support in recent weeks. However, liberal thorn in Obama’s side, Paul Krugman found Obama’s efforts to be more centrist “kinda sad.”

Krugman argued “the country is not a corporation” and Obama’s attempt to focus on America’s “competitiveness” is terminology more suited for the business world where profit is all that matters and nothing else. Whereas Krugman seemed merely heartbroken with Obama, his critique of Immelt was more damning. Krugman concluded, given the fact that most of GE’s workers and profits are outside of the U.S., that it is now more of a financial firm than a manufacturing firm, and that the company was a major recipient of bailout funds, he’s not too excited that Immelt is in this new position where he supposedly will be offering guidance about maximizing American jobs and competitiveness.

Watch the clip from ABC below:

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