U.S. Chamber of Commerce President Tom Donohue Talks Economy and Job Growth on Bloomberg TV

Strategic Insights -

In a televised interview on Bloomberg TV on July 11, 2011, Thomas Donohue, President and CEO of the U.S. Chamber of Commerce, emphasized the need for quick action to stimulate job growth in the United States. Donohue urged Congress to pass free trade agreements, expand tourism, and tap into the country's natural resources to create hundreds of thousands of new jobs. He also highlighted the importance of addressing the nation's debt crisis and deficit challenge to prevent a recession.

Key Takeaways:

  • The U.S. Chamber of Commerce is calling for Congress to pass free trade agreements to create 100,000 new jobs and save 380,000 existing jobs.
  • Donohue estimates that passing these agreements will lead to a "massive increase in demand" for American products.
  • The Chamber is also pushing for expanded tourism initiatives, which will create jobs in the tourism industry and bring in more revenue for the U.S. economy.
  • Donohue emphasizes the importance of tapping into the country's natural resources, such as oil and gas, to create hundreds of thousands of new jobs and increase revenue.
  • The Chamber's survey shows that small businesses in the U.S. are pessimistic about the economy, with demand being the main concern.
  • Donohue believes that passing free trade agreements, expanding tourism, and tapping into natural resources will increase demand and boost job growth in the U.S.
  • The president of the U.S. Chamber of Commerce, Tom Donohue, expresses concern that the current deadlock in Washington over the debt ceiling is distracting from the focus on job growth and the economy.

Statistics:

  • The U.S. Chamber of Commerce estimates that passing free trade agreements will save 380,000 jobs and create 100,000 new jobs.
  • According to Donohue, such agreements will lead to a "massive increase in demand" for American products.
  • The Chamber's survey shows that small businesses in the U.S. are pessimistic about the economy, with demand being the main concern.
  • Donohue estimates that tapping into the country's natural resources, such as oil and gas, will create hundreds of thousands of new jobs and increase revenue.
  • The president of the U.S. Chamber of Commerce, Tom Donohue, states that companies in the U.S. will continue to hold onto their money until the nation's debt crisis and deficit challenge are addressed.

Sources:

  • Bloomberg News Anchor Carol Massar
  • Bloomberg News Anchor Matt Miller
  • Thomas Donohue, President and CEO of the U.S. Chamber of Commerce
  • U.S. Chamber of Commerce
  • Bloomberg TV (July 11, 2011)