Chief executive officers should do five things “to put pressure on Washington” concerning the ballooning national debt, David Cote, chief executive officer of Honeywell International Inc. (HON:US) wrote in the Financial Times.
Those five things, Cote said, are: bring up the issue on every talk with a politician; mention it in every speech; educate employees on the matter and urge them to raise it with their Congressional representatives; push for a presidential candidates’ debate on debt and support the Campaign to Fix the Debt.
If the debt is not properly dealt with, it will become “an unconscionable $21 trillion (about 85 percent of GDP) in 10 years,” Cote wrote. “It will doom us to five years of 1 percent real GDP growth and 8 percent unemployment,” he said.
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