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Campaign to Fix the Debt Announces Addition of 40 Prominent CEOs and Business Leaders Calling on Washington to Address Long-Term

Campaign to Fix the Debt Announces Addition of 40 Prominent CEOs and Business
       Leaders Calling on Washington to Address Long-Term Debt Problems

PR Newswire

WASHINGTON, Jan. 10, 2013

Over 160 Business Leaders Continue to Urge Lawmakers to Work Together on a
Comprehensive Deal

WASHINGTON, Jan. 10, 2013 /PRNewswire-USNewswire/ -- Forty of the country's
most distinguished business leaders have signed on to support the Campaign to
Fix the Debt, joining over 2,500 small business owners and 340,000 concerned
citizens. Representing every sector of the economy, these business leaders
recognize the failure to address the country's growing long-term debt will
continue to jeopardize our economic recovery at home and U.S. competitiveness
globally. The Campaign's business partners urge lawmakers to work together in
the coming months to stabilize and gradually reduce the nation's debt-load as
a share of the economy through entitlement reform, spending reductions and
greater tax revenues.

"Fix the Debt is a campaign that fundamentally is about moving outside of our
collective comfort zones, rejecting the status quo, and it's about a
willingness to accept financial and political discomfort for the sake of the
country," said Maya MacGuineas, President of the Committee for a Responsible
Federal Budget and head of the Campaign to Fix the Debt. "Our country's
federal debt problems are becoming more urgent each day, and by dragging their
feet lawmakers in Washington are only backing us further into a corner.
Businesses understand that when looking at long-term challenges you have to
tighten your belt to address them. They see the dangers we're facing, and are
urging policymakers to address them – and letting them know they have the
support to make the hard choices."

"The national debt is a problem that's not going away, so neither are we,"
said Reid Hoffman, co-founder and executive chairman of LinkedIn. "The fiscal
cliff negotiations revealed how dangerous political gridlock can be to the
welfare of the country. The growing federal debt is simply too serious a
problem to ignore. Instead of allowing it to progress on its current
unsustainable path, I'm proud to work with the Campaign to Fix the Debt to
amplify the call on Washington for serious change."

While the recent last-minute budget agreement avoided the devastating policies
of the fiscal cliff by delaying or canceling most of the provisions built into
the deal, it failed to stabilize – much less reduce – the national debt as a
share of the economy. In the coming weeks lawmakers will have the opportunity
to return to fiscal negotiations as they address the delayed "sequestration"
provisions of the cliff. They must utilize the opportunity to make the tough
decisions necessary to correct the trajectory of the country's ballooning debt
and deficits.

"There are no easy answers, and there are tough but necessary decisions
ahead," said David Barger, President and CEO of JetBlue. "The reality of the
matter is that we must forge the right path for the country together, and
everyone, regardless of political, economic or social background, is going to
have to make concessions and chip in to ensure the strength of the economy."

"Avoiding the fiscal cliff earlier this month showed the country that it is
possible for our elected leaders to work together to find practical ways
forward," said Larry Merlo, President and CEO of CVS Caremark. "Fixing the
debt requires decisions that will change the trajectory of spending and
provide the foundation for economic growth.In business, making thoughtful
decisions helps us remain competitive and strong. We should expect the same
from government. We must work openly and constructively to put a plan together
that truly changes the equation for the economic well-being of the next
generation."

The full membership list of the Campaign to Fix the Debt CEO Fiscal Leadership
Council is available here.

For more information about the Campaign to Fix the Debt please visit
FixtheDebt.org

SOURCE Campaign to Fix the Debt

Website: http://www.fixthedebt.org/
Contact: Pam Stevens, stevens@fixthedebt.org, +1-703-927-6364
 
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