CEO on Obama Job Council Endorses Romney

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Mitt Romney picked up the endorsement of yet another chief executive officer of a major U.S. company—and one who is on President Obama’s Council on Jobs and Competitiveness.

The Wall Street Journal reported Thursday that Intel chief executive officer Paul Otellini has endorsed the Republican nominee.

Despite his presence on the president’s job council, however, Ortellini has criticized the administration in the past pretty strongly, as noted by Human Events. In 2010, the Intel CEO blasted Democrats in Washington at an Aspen Forum event:

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.”

Since an unusually sharp downturn accelerated in late 2008, the Obama administration and its allies in the U.S. Congress have enacted trillions in deficit spending they say will create an economic stimulus but have not extended the Bush tax cuts and have pushed to levy extensive new health care and carbon regulations on businesses.

“They’re in a ‘Do’ loop right now trying to figure out what the answer is,” Otellini said.

As a result, he said, “every business in America has a list of more variables than I’ve ever seen in my career.” If variables like capital gains taxes and the R&D tax credit are resolved correctly, jobs will stay here, but if politicians make decisions “the wrong way, people will not invest in the United States. They’ll invest elsewhere.”