CEOs Call for Deficit Action

CEOs Deficit I've still got a mathematical problem with two guys spending $6,000,000,000.00 to get a job that pays $400,000. Kind of like our country, you can't spend more than you take in for an extended period of time. It is bad business, it doesn't work! It reminds me of a scene from the movie with Kevin Kline, where he played in the movie "Dave" a lookalike president Bill Mitchell, and had his accountant come to the White House and look at the books. The accountant said something to the effect that you've got a real problem here. Well, we've got a real problem here and something has to be done. Here is an article from a group of CEO's that have a suggested plan of attack...enjoy!

"Chief executives of more than 80 big-name U.S. corporations, from AetnaInc. to Weyerhaeuser Co. are banding together to pressure Congress to reduce the federal deficit with tax-revenue increases as well as spending cuts.

The CEOs, in a statement to be released on Thursday, say any fiscal plan "that can succeed both financially and politically" has to limit the growth of health-care spending, make Social Security solvent and "include comprehensive and pro-growth tax reform, which broadens the base, lowers rates, raises revenues and reduces the deficit."

The declaration differs sharply from those of several other business groups, which urge Washington to deal with the deficit and avoid across-the-board spending cuts and tax increases set for year-end—but avoid any stance on the politically charged issue of raising taxes.

The CEOs who signed the manifesto deem tax increases inevitable no matter which party succeeds at the polls in November. "There is no possible way; you can do the arithmetic a million different ways" to avoid raising taxes, said Mark Bertolini, CEO of Aetna. "You can't tax your way to fix this problem, and you can't cut entitlements enough to fix this problem."

Continue reading the full WSJ article here.

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