Concerned about the growing national debt, CEOs from some of America’s most profitable corporations are gathering to put pressure on Washington, reports the Chicago Tribune. In a letter to be released Thursday, the CEOs call for Congress to find a plan to fix the deficit.
If Congress fails to pass a deficit reduction deal by the end of this year, it will automatically trigger massive cuts and tax increases that could hurl the U.S. over a fiscal cliff. This would no doubt ruin any chances of economic recovery in the near future.
The CEOs recommended that Congress enact measures based on the Simpson-Bowles Commission.
For more, read the Chicago Tribune.
