Discouraged CEOs Set Bar Low for Obama's Job Speech
Indra Nooyi, chairman and CEO of PepsiCo, noted that "anything that's done to address unemployment in terms of massive stimulus spending is going to exacerbate deficits. And anything that's done to address deficits in the short-term is going to exacerbate unemployment."
Nooya went on to say we're in "a bit of a policy box and it's going to require us being willing to give up one of the two, which is it's okay to take on more deficits but lets put in some massive spending. Alternatively to say, 'we're going to go through structural unemployment for a while because we want to address deficits.'"
At this point I think we are all trying to address this conundrum by saying we have to address both sides, unfortunately there is no way out of this," Nooya added.
Michael George, CEO of QVC, noted the importance of "making sure that there's a tax code and an investment code that supports the formation and growth of small businesses."
"We need a cohesive plan to grow jobs, and to restore some confidence that the government can work and make decisions" in order to move forward, George went on to say.