Pressure from CEOs
by Steve McIntosh
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posted Nov 20 2012 2:02AM
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A recent Wall Street Journal report says studies have shown political uncertainty may have dragged G-D-P down by three percentage points.
Eighty chief executives from major companies … including General Electric, Boeing, Verizon, Aetna, and Goldman Sachs … are urging Congress to get its act together and find a bipartisan solution to the coming fiscal cliff.
The C-E-Os are talking about “significant spending restraint” … including limiting healthcare spending, making Social Security solvent, and “comprehensive and pro-growth tax reform, which broadens the base, lowers rates, raises revenues, and reduces the deficit”.
The C-E-Os say raising taxes is unavoidable, but it must come with real spending restraint … and they are not embracing President Obama’s higher-taxes-for-the-wealthy approach.
These hard-nosed business people know what Simpson and Bowles know ... (remember them?) … that Americans must sacrifice a bit to avoid financial collapse.
I’ve been ready to do my part for several years, but no one’s had the political courage to ask.
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Our thought for today is from Albert Einstein:
“The significant problems we have cannot be solved at the same level of thinking with which we created them.”
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