The U.S. risks triggering a global recession unless the White House and Congress avert $1.2 trillion in spending cuts set for January, Honeywell International Inc. Chief Executive Officer David Cote said.
Any plan to reduce the U.S. deficit will need cuts to Medicare and Social Security in addition to tax increases, said Honeywell International Inc. Chief Executive Officer David Cote , who served on President Barack Obama ’s debt commission last year.
The fiscal impasse that’s setting the stage for a partial shutdown of the U.S. government may plunge the world’s largest economy into recession, Honeywell International Inc. Chief Executive Officer David Cote said.
Republican presidential candidates promised to deliver the leadership that Washington needs to overcome congressional gridlock as they pitched their plans for jobs and taxes and called for the removal of Federal Reserve Chairman Ben Bernanke during a debate tonight at Dartmouth College in Hanover, New Hampshire. Participating in the event, sponsored by Bloomberg News and the Washington Post, were former Massachusetts Governor Mitt Romney; Texas Governor Rick Perry; former pizza magnate Herman Cain; Michele Bachmann, a Minnesota congresswoman; Newt Gingrich, the former House Speaker; Ron Paul, a Texas representative; former Pennsylvania Senator Rick Santorum and former Utah Governor Jon Huntsman. Moderators of the debate included PBS talk show host Charlie Rose, Bloomberg reporter
Chief executive officers should do five things “to put pressure on Washington” concerning the ballooning national debt, David Cote, chief executive officer of Honeywell International Inc. wrote in the Financial Times.
Sept. 13 (Bloomberg) -- David Cote, chief executive officer of Honeywell International Inc., talks about the global economy, the U.S. deficit and the outlook for Federal Reserve policy Cote speaks at the Bloomberg Markets 50 Summit in New York. (Source: Bloomberg)