Former Commerce Secretary: Businesses Should Be Concerned

Former Commerce Secretary: Businesses Should Be Concerned

Carlos Gutierrez, former Commerce Secretary under the George W. Bush administration, is worried, reports the Washington Bureau.  As former CEO of Kellogg and vice chairman of the institutional clients group at Citigroup, he feels that business groups are not as concerned as they should be when it comes to the massive national debt.

“The fact that we are not moving on it is puzzling to me,” said Gutierrez.

Gutierrez feels that businesses are not focused on the debt because it hasn’t yet affected their bottom lines.  But that could change, Gutierrez warns.  With government debt growing bigger than the economy, higher interest rates are inevitable, and private investment in the future could become burdensome.

For more on Mr. Gutierrez’s assessment, check out the article from the Washington Bureau.

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