Why I'm Voting for President Obama: Barry Diller

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Barack Obama and Mitt Romney

Despite the failings of the Obama administration, Barry Diller, chairman of IAC/Interactive, told CNBC’s “Squawk Box” he’s voting for Obama.

“I don't think (Obama) has done a good job for business, but really, in this situation, you have to consider the alternative and I don't like the alternative,” Diller said, adding “to run such an inept, depressing campaign is grounds for dismissal.”

He also said that the Obama administration has done things that would be grounds for dismissal, but the alternative would still be worse.

(Read More: CNBC Poll: Economy’s Worse, but Obama Favored to Fix It.)

Diller, a Democrat, is a fan of New York Mayor Michael Bloomberg, however. “I would enthrone him because he’s a good executive,” Diller said.

The IAC/Interactive executive also decried the state of American political campaigns. “I'm not frustrated but I'm ashamed how much we tolerate spending $2 billion for commercials that are entirely negative that don't deal with anything,” he said.

“We don't deal with any serious issues when we actually have serious issues,” Diller added. “At the end of the year we have a big topic to solve and nobody has a plot.”