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80 CEOs calling on Congress to take action to cut deficit

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    Verifone CEO Doug Bergeron explains

  • Duration 4:46
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Not to the guy behind this might result -- so Microsoft boss Steve bomb and he says he's been language windows eight for a while now and loves it.

Let's not exactly surprising here's what is signing off on a statement along with scores of other industry -- Urging congress to get its act together and avoid -- -- let.

Just call -- a bipartisan -- as the titans of big business demand Republicans and Democrats work together.

Because this statement spreads the blame and demands both sides stop playing games.

Will hold more clout than recent letters from groups like manufactures and financial titans -- generally target just the president in other words.

Does the guy fickle mistress -- Demanding hard choices make a big difference to Verifone CEO Doug Bergeron.

Who also signed on to this effort -- that's it did feel and I got reading the letter dubbed it that that you you were got you guys were making a bipartisan.

Statement here not just blaming the -- resident -- and everybody and demanding everybody get there they're duffel off the couch and do something.

-- to say that we're frustrated would be an understatement we're just exercising our roles as leaders of the community and saying listen.

Getting the same room and figure this out it's not that hard.

All right but you'll also leave open a -- what I think distinguishes your group of mothers.

Is that you're saying revenues should be on the table -- its tax increases should be on the table you don't attach a number of a formula but but everything should be on the table.

Want.

What we suggest -- -- broadening of the tax base so that tax rates probably.

As governor Romney has suggested can come down some loopholes -- closed but with greater growth across the economy.

More tax revenues will come in that's a that's a part of the solution the other part of course is -- a re cut of this entire these entitlement discussions.

At such that and the long term health and integrity and solvency of these systems.

-- -- -- -- Com it -- a do a lot of your colleagues -- yourself included feel that this year's.

A cloud -- over your your future plans over the over that the economy.

I -- others tell me what what what -- and watched you we can't control we just sort of go.

You know forward on Iran but you seem to be saying and and all these -- seem to be saying now this is a big unknown and into this environment yeah keep Jeff -- Well I signed on.

As as an American.

And somebody who's concerned about the future of the country not for -- to defend -- prospects which are -- 5% out of the US.

But I don't worry I started offer very little now have a great company with a lot of 5000 employees and I just want to see this whole thing go up in smoke.

If we can't get our act together.

Do you think that's likely in other words let's say they do something like this -- the end of the year they've pumped.

On they decide whether it's Barack Obama reelected or Mitt Romney elected.

That job and date date -- they extend all these coming and spending cuts all -- these -- expiring tax rates.

Extended for another six months or so let a reelected president in congress.

Or a newly elected president congress.

Do something more -- -- in the new year.

Well as much as I hate kicking the can down the road again I think it's just in feasible to come up with comprehensive tax reform.

And a whole.

New deal more entitlements between November the seventh and December 31 -- practically speaking that's.

That's still the most likely and probably the most reasonable thing to do but come the day after inauguration when the the house is back -- -- we need to get.

Going on this thing and solve this problem.

-- did what was it was merited a political leaning one way the other two.

To you in these seven and on other.

Now I think what Simpson bulls taught us is that there can be bipartisanship.

You have to be able to get people on both sides of the aisle to do things that they haven't done before.

You know the other three hits and symbols.

Teaches us is that.

The number of changes necessary in both the tax code and in terms of entitlements if you do them now are not overly substantially not painful.

And the effect of those.

-- what painless changes over -- 101520.

Year time period.

Do dramatic.

Positive results to the whole fiscal solvency of the system so called bending of the curve.

So I think they could he have done -- just they got to get everybody sitting in the same room together these are a lot of folks that just don't even like being in the same room with each other.

You know you read about.

But you have got to get the ball well moving on Doug thank you very much very good having -- Thanks -- already be done coming up.

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