CEOs' warning must be followed
The Kansas City Star
Chief executives of 80 major U.S. companies are right to appeal to Congress to raise taxes and cut spending to reduce the federal deficit.
The Associated Press reports that the CEOs warned that the burgeoning deficit is sucking the life out of plans of businesses to hire and invest. The deficit topped $1 trillion for four consecutive years and is holding down the country’s economic recovery.
In addition to higher taxes and cuts even in programs such as Medicare and Medicaid, the CEOs are wanting more federal investment in math and science education and the nation’s infrastructure.
Congress and the next president need to pay attention to the CEOs. These guys generally don’t step into such matters unless economic conditions are seriously dire.