We did a little digging and found that the claim is based on a study by Michael Cembalest, the chief investment officer for J.P. Morgan Private Bank. In a Nov. 24, 2009, column titled "Obama's Business Blind Spot" and published on Forbes.com, Cembalest wrote, "In a quest to see what frame of reference the administration might have on this issue, I looked back at the history of the presidential Cabinet. Starting with the creation of the secretary of commerce back in 1900, I compiled the prior private-sector experience of all 432 Cabinet members, focusing on those positions one would expect to participate in this discussion: secretaries of State; Commerce; Treasury; Agriculture; Interior; Labor; Transportation; Energy; and Housing & Urban Development."
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In an accompanying chart, Cembalest reported that in the Obama administration, fewer than 10 percent of the Cabinet appointees counted under those rules had private sector experience. According to the chart, all other administrations going back to Theodore Roosevelt's had rates in at least the high 20s, with the Eisenhower and Reagan administrations approaching 60 percent. (He wrote in a footnote that the data came from a number of sources, including capsule biographies of Cabinet members posted on the Web site of the University of Virginia's Miller Center for Public Affairs.)
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In Obama's Cabinet, at least three of the nine posts that Cembalest and Beck cite — a full one-third — are occupied by appointees who, by our reading of their bios, had significant corporate or business experience. Shaun Donovan, Obama's secretary of Housing and Urban Development, served as managing director of Prudential Mortgage Capital Co., where he oversaw its investments in affordable housing loans.
Energy Secretary Steven Chu headed the electronics research lab at one of America's storied corporate research-and-development facilities, AT&T Bell Laboratories, where his work won a Nobel Prize for physics. And Interior Secretary Ken Salazar, in addition to serving as Colorado attorney general and a U.S. senator, has been a partner in his family's farm for decades and, with his wife, owned and operated a Dairy Queen and radio stations in his home state of Colorado.
Three other Obama appointees had legal experience in the private sector.
Secretary of State Hillary Rodham Clinton, Agriculture Secretary Tom Vilsack and Commerce Secretary Gary Locke spent part of their careers working as lawyers in private practice. Clinton and Vilsack worked as private-sector lawyers at the beginning of their careers, while Locke joined an international law firm, Davis Wright Tremaine LLP, after serving as governor of Washington state. At the firm, Locke "co-chaired the firm's China practice" and "helped U.S. companies break into international markets," according to his official biography. That sounds like real private sector experience to us.
Finally, Treasury Secretary Timothy Geithner worked for Kissinger Associates, a consulting firm that advises international corporations on political and economic conditions overseas.
The occupants of the two remaining Cabinet posts cited in the chart do not appear to have had significant private-sector experience: Labor Secretary Hilda Solis and Transportation Secretary Ray LaHood.
Obama's Cabinet has even more private-sector experience if you go beyond the nine. Two of the Obama appointees could be considered entrepreneurs — the very people Beck would "unleash." Vice President Joe Biden, officially a Cabinet member, founded his own law firm, Biden and Walsh, early in his career, and it still exists in a later incarnation, Monzack Mersky McLaughlin and Browder, P.A. (The future vice president also supplemented his income by managing properties, including a neighborhood swimming pool.) And Office of Management and Budget director Peter Orszag founded an economic consulting firm called Sebago Associates that was later bought out by a larger firm.
It's also worth noting that if you examine a larger group of senior Obama administration appointees, you'll find that more than one in four have experience as business executives, according to a June study by National Journal . That compared with the 38 percent the magazine found eight years earlier at the start of George W. Bush's administration. That's at least three times higher than the level claimed by Beck.
Interesting statistics!
A recent "Investor's Business Daily" article provided very interesting statistics from a survey by the United Nations International Health Organization.
No references and they only count the people who can afford it, as mentioned above.Some impressive statistics.
Well, as far as I'm aware, part of the bill is supposed to stop companies from wriggling out of paying and will hopefully make some of the limits and restrictions illegal.My insurance at work has a big list of things not covered, limits, and restrictions.
I agree but I think your country has being going down the road of expensive private insurance for too long tyo change now. If your government had decided to implement a universal public health care system 60 years ago, they probably wouldn't chosen something more similar to what they have in Canada now.Still think they should have started over from scratch.
I wouldn't know about that, let's wait and see what happens, as mentioned above.Buying insurance, isn't going to reduce medical bills, just cut some of the out of pocket expenses. We all are going to pay, whether we see a doctor or not, and the premiums will still add up. They posted a memo at work, which wasn't specific, but did indicate that the new law is going to change our coverage, and it didn't sound like a good thing. Guess by next year we will all have a clearer understanding of how much more we are going to have to pay.
If John Deere and Caterpillar have had the right to drop medical coverage all along, as you've stated, then the bill doesn't change anything, and there's no reason to believe they will suddenly start breaking their promises to their retired employees. Most Medicare recipients will see no change to their plans, and those who do will only see special "advantage" privileges trimmed. The changes to basic Medicare coverage is minimal.
The article does not say that Caterpeller and John Deere are going to cut their medical coverage, not did it say others will follow suit. It only says they will pay a one time charge on governement subsidies for thier company sponsored drug benefit plan. That was going to happen with or without health care refrom. BTW, the American Spectator is an awful place to try to get news. It's no better than Fox.
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