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Starbucks CEO: No Economic Certainty in U.S.

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    Howard Schultz on dangers of soaring deficit, unemployment numbers

  • Duration 4:58
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This transcript is automatically generated

No longer and allow.

These people in Washington to dictate a strategy for the for the country that I believe.

Is on a collision course with time.

That -- and -- -- -- -- -- up a coffee Starbucks COR tilts -- -- Washington to start growing up some real plans.

To boost the kind of racial making those comments at a town hall -- job that He -- -- hospitals with me right now.

People -- after that performance and it when you run for office -- running a copy companies.

But -- passion about it's I am passionate about it because.

I I think what happened after the debt.

The -- Is we saw a crisis of confidence in America lost trillions dollars in stock market.

We saw the connective tissue of what happens in America around the world and I think.

We have a situation right now -- -- a crisis of leadership and as a result of that people on both sides I think it -- not talking I'm working -- -- -- I'm a registered Democrat.

But this is a problem in Washington -- -- in which the leadership in Washington.

Is not doing what's needed and I think the country.

Is going in the wrong direction with nine point 1% unemployment 42 out of fifty states facing budget deficit.

There's going to be significant cuts in social services around America.

And I think we're we're floating in an area where we're drifting towards mediocrity and I think I just felt like I had to.

Speak up and try and get like minded people on both sides of the aisle to sign up with me we've got over a 140 CEO's now.

We had a 130000.

People call up on -- town hall teleconference last night.

Just people all over the country and I think the message that I got last night was.

We just don't feel represented we don't -- what is your biggest beef and that you -- -- -- -- -- earlier this -- -- up Virginia and Teamsters president was saying that.

Guys like you can't keep shipping jobs overseas and you a lot of workers -- I agree with that but but what do you make of his argument that.

You do more harm -- good and that it did is that a message you -- expanding -- China quit don't know what -- it's.

Why I don't think you can blame in a country for expanding sales -- -- that -- -- -- where there are market is in our customers.

-- let -- -- on America -- but I think there is a seismic change right now and shifting responsibility.

Not only to Washington but other business leaders.

But let's look at the facts.

And I think you know these numbers is a trillion dollars sitting on the balance sheet.

A public companies today that's not being invested back in the economy and in -- we -- -- is over trillion dollars overseas right now that's not being repatriated.

Why do you why -- that.

Because it's a crisis uncertainty in the country.

There's no investments in the country -- very little because we don't know the direction and there's no confidence in the foundation.

That's Washington's responsibility that goes for Democrat and Republicans -- -- -- what would you Hornaday like to see and wants.

We have to have there's no question that unemployment and the fracturing of consumer confidence is linked to the debt ceiling deal.

There has to be -- long term deal which we -- between which absolutely.

Takes into consideration the debt of the United States which is not fourteen trillion dollars which is 47 trillion dollars.

Because that is the obligation will be obligations -- -- that have to be addressed and then you'll see reinvestment into the country.

By public companies because the Arab and certainly will be lifted the -- there has to be a laser focus.

Within Washington on both sides of the aisle on job creation so 300 million dollar jobs plan that -- -- -- the president is going to announces.

-- -- -- -- I think that's a fantastic start but but that's not that's not the -- the short term answer -- -- problems short term answer is we need any long term debt ceiling deal.

That relieves the pressure and your colleagues that they had -- -- and do they would hire based on.

Well I think you know it.

I don't want to say things that that might seem to sophomore or -- But there is a direct linkage to the fact that we have no certainty.

With a long term economic issues of this country and the fracturing a public confidence in the country and consumer conference among -- And unless they get off the down.

You guys won't be spelled out -- I think.

When you have ideology and both sides of the aisle.

And people's reelection in polling.

As the reason to make decisions the question I would I I'm asking rhetorically is is that the best we can do -- is that the reason that you're there.

He took an oath of office on both sides of the aisle to represent America.

Not one single ideology.

Leave the -- -- I would algae out of the room will come in and solve these problems I don't think the country's problems in terms of the economics aren't that difficult to solve.

If you had like minded people.

There to -- And so it's Dixon went too much and you announce your candidacy is back on parents of -- -- CEO.

When we.

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