Business Supports Obama Approach

On October 25, 2012 CEOs from more than 80 major US companies pressed Congress to reduce the federal deficit by raising taxes and cutting spending. They warned that the uncertainty spawned by the deficit is dampening businesses' hiring and investment and stifling the fragile economic recovery. They also seek federal investment in infrastructure and math and science education. The CEOs said no matter which party wins on November 6 tax increases are inevitable. Mark Bertolini, CEO of Aetna, said "There is no possible way; you can do the arithmetic a million different ways. You can't tax your way to fix this problem and you can't cut entitlements enough to fix this problem." Dave Cote, chairman and CEO of Honeywell International Inc., said "What it really comes down to is if we still have the political will to be a great country." The CEOs head a diverse array of corporations, including Microsoft, Boeing, Federal Way-based Weyerhaeuser, Aetna Inc., JPMorgan Chase & Co., Time Warner Cable Inc., Merck & Co. Inc., General Electric Co., Dow Chemical Co., Verizon Communications Inc., Bank of America Corp., AT&T Inc. and Allstate Corp.

On October 26 a poll shows that among voters 18-29 the President is winning 64% to Romney’s 34%. The Commerce Department reported that the economy grew 1.3% in the second quarter of 2012 and 2% in the third quarter and analysts say the risk of another recession is low. Romney called for bold change for the economy but offered no specifics – Vice President Biden said he’s in denial over the improved economy.  

On September 23’s This Week with George Stephanopoulos, Reince Priebus of the Republican National Committee said “…we have to start having people in office that commit to the promises they make.” George Washington said “Individuals entering into society must give up a share of liberty to preserve the rest.” It is obvious that young Americans are concerned for their future if Romney is elected – I don’t know why their parents aren’t concerned for them. The companies are saying what President Obama and economic analysts have been saying all along - the Romney/Ryan budget doesn’t work. It’s too bad these CEOs waited so long to support tax increases, infrastructure and education. I’d like to know why this information didn’t spread across the nation as loud as the anti-Obama articles did.