Obama: Corporations Must Accept Responsibilities

After meeting with business leaders at the White House this morning, President Obama offered some criticism of corporate America along with promises to help spur economic growth.

"As we discussed in our meeting a few minutes ago, corporate America will have to accept its own responsibilities to its workers and to the American public," Obama said during his post-meeting remarks. "But these executives also understand that without wise leadership in Washington, even the best-run businesses cannot do as well as they might."

Obama met with 13 business leaders to discuss his economic stimulus plan. In attendance were the CEOs of Google, IBM, Xerox, Kodak, Motorola, BET Holdings, Honeywell, Jet Blue, and others, as well as the retired CEO of Edison International.

"The businesses that are shedding jobs to stay afloat -- they cannot afford inaction or delay," Obama said, adding that "the vast majority of these jobs [to be created by Obama's stimulus] will be created in the private sector -- because, as these CEOs well know, business, not government, is the engine of growth in this country."

Obama renewed his pledge to invest in infrastructure, clean energy technology, healthcare, and education, saying those investments would "lay the foundation for long-term growth and prosperity."

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