Second Annual Economic Summit: Restoring Fiscal Health in the United States
On Wednesday, December 1, CED hosted its Second Annual Economic Summit, featuring keynote remarks by Peter Orszag [play part 1] [play part 2], former Director of the Office of Management and Budget and Congressional Budget Office and Fred Smith [play part 1] [play part 2] [play part 3], Chairman, President, and CEO of FedEx Corporation. Mr. Orszag discussed major changes in the U.S. economy that have led to record deficits and policy-led remedies to bend the cost curve, including health-care reform. Mr. Smith addressed the need for reform of the corporate tax code in order to stay competitive with international companies as well as the urgent need for the government to stabilize the macroeconomic climate so that U.S.-based business may continue to thrive and innovate.
Bloomberg News Correspondent Jonathan Erlichman, led a panel discussion on the most pressing challenges to the U.S. economy with CEOs. Carl Camden [play video] , President and CEO of Fortune 500 Company, Kelly Services Inc., discussed the plight of unemployed workers and the need for job creation in the United States to fuel economic growth. Michael Chesser [play video], Chairman and CEO of Great Plains Energy, discussed the concern among business leaders over the political gridlock over finding solutions to the growing debt problem. Don Peterson, former CEO of Avaya discussed the need for more reforms to the health care legislation that would strengthen cost-containment and market-based cost control through health exchanges. Peter Orszag and Fred Smith joined the panel for a discussion on the most critical issues affecting America's economy - budget deficits, health care, tax reform, and entitlement reform - and what business can do to help restore the nation's fiscal health. Peter G. Peterson [play video], co-Founder of Blackstone and Founder and Chairman of the Peter G. Peterson Foundation, led a discussion over where the “business statesmen” have gone and their responsibility to help lead the nation on a more sustainable path forward.
The event was made possible by the generosity of the Peter G. Peterson Foundation.