Honeywell Chairman and CEO Dave Cote discussed the U.S. debt/deficit issues on Fox Business Network’s ‘Countdown to the Closing Bell’ and CNN International’s ‘World Business Today.’
Cote, a member of President Obama’s National Commission on Fiscal Responsibility and Reform, said that businesses are watching the debate very closely.
“Everybody’s pretty much shocked right now because no one ever expected it would get this far,” said Cote.
During the interviews, Cote said the government needs at least $4 trillion to get the U.S. on the right path.
“Just endorse the Simpson-Bowles proposal,” Cote told CNN International correspondent Maggie Lake. “We need at least $4 trillion dollars here … Even at $4 trillion – one of my learnings from being on the Commission – was that there is a good chance we’ll have to do this again in three or four years … $4 trillion just starts us on the right path.”
For more information, watch the CNN International interview and the Fox Business interview.
