With a dozen or more CEOs standing behind him from blue chip companies including 3M, Lockheed-Martin, Dow Chemical, Campbell Soup, Archer Daniels Midland and International Paper (complete list below), POTUS signed an executive order calling on all executive agencies to comb through regulations and pinpoint those that in the administration's estimation are unnecessary.
``Excessive regulations are killing jobs, driving companies out of our country like never before,'' POTUS said.
``Today this executive order directs each agency to establish a regulatory reform task force. It will ensure that every agency has a team of dedicated people to research all regulations that are unnecessary, burdensome and harmful to the economy, and harmful to the creation of jobs and business.''
``Each task force will make recommendations to repeal or simplify existing regulations.''
The regulatory system represents ``an impossible situation and we're going to solve it very quickly,'' POTUS said. ``They will have to every once in a while report to us so we can report on the progress, and so we can come up with some even better solutions.''
``This executive order is one of many ways we're going to get real results when it comes to removing job killing regulations and increasing economic opportunity.'' POTUS mentions previous order on for every one regulation established, two must be revoked.
``Every regulation should have to pass a simple test: Does it make life better or safer for American workers or consumers. If the answer is `no,' if the answer is no, we will be getting rid of it and getting rid of it quickly.''
``We will stop punishing companies for doing business in the United States. Its going to be absolutely just the opposite. They're going to be incentivized to do business in the United States.''
``We're working very hard to roll back the regulatory burden so that coal miners, factory workers, small business owners and so many others can grow their businesses and thrive. We cannot allow government to be an obstacle to government opportunity. We're going to bring back jobs and create more opportunities (than) ever before in our country.''
On the policies and orders executed so far, ``I think for four weeks into it . . .'' POTUS mad a joke, pooler thinks it was the obvious `we're doing a good job' but clicks and laughs from CEOs drowned him out at that point. So not sure.
Regulation has been a problem ``long beyond Obama,'' POTUS said. ``This is going to be a place for business to do well and thrive.''
With that, the president signed the order and took no questions. Pool was escorted out.
Corporate attendees, per White House: Kenneth C. Frazier - Chairman, President & CEO, Merck & Co., Inc.
Alex Gorsky - Chairman & CEO, Johnson & Johnson Gregory J. Hayes - Chairman & CEO, United Technologies Corporation Marillyn A. Hewson - Chairman, President & Chief Executive Officer, Lockheed Martin Corp.
Andrew N. Liveris - Chairman & CEO, The Dow Chemical Company Mario Longhi - President & CEO, US Steel Luan R. Luciano - Chairman, President & CEO, archer Daniels Midland Company Denise M. Morrison - President & CEO, Campbell Soup Company Mark S. Sutton - Chairman & CEO, International Paper Inge G. Thulin - Chairman, CEO & President, 3M Company