General Electric CEO Jeff Immelt, as I wrote in my column today, is a most fitting choice to head the President’s Council on Jobs and Competitiveness. Under Immelt, GE has become a company that looks for profit not in the free market, but in Big Government — subsidies, bailouts, regulations, and mandates.

It’s fitting because Obama’s definition of being “pro-business” isn’t about deregulation and tax cuts — it’s about subsidies and cooperation. This is why I define “Obamanomics” as Big Government working together with Big Business.