Dear President Obama, now that you have given Larry Summers the boot.... | AccountingWEB

Dear President Obama, now that you have given Larry Summers the boot....

Dear President Obama:

Now that Larry Summers has “resigned” (i.e., gotten the boot) as your economic advisor, I am submitting my application to replace him in that capacity.

I am a Certified Public Accountant with over thirty years of business experience.  I have managed small businesses for much of that time; consequently, I know how to create jobs.  Most importantly, I am cheap, unlike all those other cronies who are working for you.

I propose to create jobs in this country in the following manner:

  1. Hire advisors from the small business community.  Small businesses create 80% of the jobs in this country; consequently, we know how to create jobs in our country and not in China, India, Brazil, and the Philippines.  So why do you surround yourself with former executives of multinational corporations and wall streeters, unless you need their campaign contributions for 2012.
  2. The break up of mammoth companies by invoking the Sherman Anti-Trust Act.  Companies-too-big-to-fail have been failing and dragging our economy down with them.  Moreover, their investments have been focused overseas, creating jobs elsewhere.  Although these mega corporations created 2 million jobs last year, 1.4 million of them were created overseas!  If these same companies had created these jobs entirely in the United States, our national unemployment rate would not be 9.8% but 7.6%.   So why should the taxpayers of the United States be left with the tab to bail out these mega corporations with a trillion dollars of TARP funds?  Let China, India, the Philippines, Cambodia et al bail these companies out since they are now the principal beneficiaries from their continued operations.
  3. The modification of NAFTA and other free trade agreements.  Amend all free trade agreements to create a level playing field.  How can workers in the textile industry in South Carolina compete with those in Bangladesh earning 11.5 cents an hour?  How can manufacturers in Connecticut compete with companies in China paying its workers 25 cents per hour without any overtime, health, and retirement benefits?  Where is that all important level playing field ensuring fair competition?
  4. Compel companies in the US to hire here rather than there.  Use both a stick-and-carrot policy via taxes. Raise taxes progressively, while creating huge tax credits for investing and hiring here in the US.  Extending tax cuts without requiring anything in return will lead to continued investments overseas.  Under a prudent and targeted fiscal policy, cessation of tax cuts for the upper 2% of our citizens could have led to investment in capital assets in our country, creating innumerable jobs here rather than over there.
  5. Invest in our country's infrastructure.  Rebuild those bridges and roads, revitalize our main streets, and replace welfare with workfare.  A job is the best social program in existence.  It gives people a sense of worth and dignity.  In addition, we need this investment in our country's infrastructure to remain competitive in the twenty-first century.  China is making these all important investments as well as other countries.  President Eisenhower's investment in a national highway program reaped huge benefits for our country's businesses and citizens for decades.  And so did President Kennedy's investment in the space program, the research from which spun off countless new products and industries.
  6. Create a senior corps program, much like the peace corps.  Many retirees would be willing to mentor the young, training them to be tomorrow's businesspeople.  In addition, it would spawn a much needed boost of patriotism and belief in our country's principles and commerce.

I have many other “progressive” ideas, eventuating the “change” that you promised in 2008. L arry Summers represented the past; my ideas and agenda represent the future.

Immediate action is required to create jobs.  I am applying to assist you.


William Brighenti, CPA

This blog

The Barefoot Accountant—is a Certified Public Accountant, Certified QuickBooks ProAdvisor,  operating an accounting, tax, and QuickBooks consulting firm in Berlin, Connecticut, Accountants CPA Hartford, Connecticut, LLC.  Bill has instructed graduate and undergraduate courses in Accounting, Auditing, and other subjects at the University of Hartford, Central Connecticut State University, Hartford State Technical College, and Purdue University. He also taught GMAT and CPA Exam Review Classes at the Stanley H. Kaplan Educational Center and at Person-Wolinsky, and is certified to teach trade-related subjects at Connecticut Vocational Technical Schools. His articles on tax and accounting have been published in several professional journals as well as on several accounting websites. William was born and raised in New Britain, Connecticut, and served on the City's Board of Finance and Taxation as well as its City Plan Commission.  Bill is a crazed animal lover, feeding birds, squirrels, chipmunks, skunks, possums, stray cats, and any two-legged or four-legged critter traversing through his yard.  His backyard in Berlin, Connecticut has been certified as a habitat suitable for wildlife by the National Wildlife Federation.

Bill also writes an Accounting, QuickBooks, and Tax blog:  Accounting, QuickBooks, and Taxes by the Barefoot Accountant.  For entertaining articles, please see his listing at The Amazing Brighenti.

More from this blog

Bloggers crew

Steve Knowles has spent 25 years in business and practice in the UK, but he also worked in the states and the years haven't dulled his way of seeing an alternative view to everyone else, and every day is a new adventure.


Joel M. Ungar, CPA is a lifelong resident of the Detroit area and a graduate of The University of Michigan. He is a principal with Silberstein Ungar, PLLC, a Top 15 auditor of SEC public reporting companies.


Allan Boress, CPA, with over 25 years as a practitioner and consultant to the accounting profession. Mr. Boress is the author of 12 published books in 6 different languages, including a best-seller, The "I-Hate-Selling" Book.


Larry Perry, CPA, CPA Firm Support Services, LLC, is the author of accounting and auditing manuals, author and presenter of live staff training seminars, and author of webcast and self-study CPE programs. He blogs about small audits, reviews, and compilations.

Sandra Wiley, COO and Shareholder, is ranked by Accounting Today as one of the 100 Most Influential People in Accounting as a result of her prominent role as an industry expert on HR and training as well as influence as a management and planning consultant. She is also a founding member of The CPA Consultant's Alliance. Sandra is a certified Kolbe™ trainer who advises firms on building balanced teams, managing employee conflict and hiring staff.

Maria Calabrese, CIR, Human Resources manager for Fazio, Mannuzza, Roche, Tankel, LaPilusa, LLC in Cranford, New Jersey, Maria's topics revolve around the world of: Mentoring, Performance management, and The "Y Generation," a.k.a. "The whY generation".


William Brighenti is a CPA, Certified QuickBooks ProAdvisor, and Certified [Business] Valuation Analyst, operating an accounting, tax, and QuickBooks consulting firm in Hartford, Connecticut, Accountants CPA Hartford.


Ken Garen, CPA, is the co-founder and President of Universal Business Computing Company (, a software development firm of high-volume, high-productivity accounting and payroll technology.


Eva Rosenberg, MBA, EA, is the publisher of, and author of the weekly syndicated Ask TaxMama column. She provides answers to tax questions from taxpayers and tax professionals worldwide.


Amy Vetter, CPA, CITP is the CPA Programs Leader for Intacct Corporation responsible for leading the CPA/BPO Partners nationally.

Brian Strahle is the owner of LEVERAGE SALT, LLC where he provides state and local tax technical services to accounting firms, law firms and tax research organizations across the United States. He also writes a weekly column in Tax Analysts State tax Notes entitled, "The SALT Effect." For more info, visit his website:
Scott H. Cytron, ABC, is president of Cytron and Company, known for helping companies and organizations improve their bottom line through a hybrid of strategic public relations, communications, marketing programs and top-notch client service. An accredited consultant, Scott works with companies, organizations and individuals in professional services (accounting, finance, medical, legal, engineering), high-tech and B2B/B2C product/service sales.

Rita Keller is a nationally known CPA firm management consultant, speaker, author, mentor and blogger. She has over 30 years hands-on experience in CPA firm management, marketing, technology and administrative operations.

Stacy Kildal is the mom of two fantastic kids, an Advanced Certified QuickBooks ProAdvisor, Certified Enterprise Solutions ProAdvisor, Sleeter Group Certified Consultant, a nationally recognized member of the Intuit Trainer and Writer Network, and co-host of RadioFree QuickBooks.
Michael Alter's blog specializes in providing practical advice to those who seek greater profitability and practice management tactics that enhance deeper client relationships.

Sally Glick, CMO, Principal, Marketer of the Year in 2003 and AAM Hall of Famer in 2007, leads a lively discussion of the constantly expanding roles of marketing and the professional marketers that drive this initiative in accounting firms of all sizes.


The IMA Young Professionals Blog features the insights of IMA’s Young Professionals Committee. Committee members share advice and experiences on careers, continuing education, work/life balance, and other issues affecting young accounting and finance professionals.


FEI Financial Reporting Blog provides highlights from SEC, PCAOB, FASB, IASB, and other regulatory news, including reporting under Sarbanes-Oxley Sect 404. It is written by Edith Orenstein, Director of Technical Policy Analysis at FEI.


Sue Anderson has 30 years of experience in continuing education for accountants. Currently she is the program director for online CPE provider CPE Link.


Jim Fahey is COO of Apple Growth Partners, a regional CPA firm in Ohio. His focus is on the effective and efficient use of technology within the firm by all team members.

Caleb Newquist is the Editor-in-Chief of Sift Media US, overseeing content for both AccountingWEB and Going Concern.

Leita Hart-Fanta, CPA, CGFM, and CGAP is the author of "The Yellow Book Interpreted" and owner of a website devoted to training for governmental auditors.


AccountingWEB is more than just a U.S. team of journalists and financial and technology experts - we have an international side, too! Members of our British team who publish share their ideas, insights, and perspectives from across the pond.