CEOs decry paralysis pushing US over fiscal cliff
WASHINGTON (AFP) - Worried United States business chiefs warned on Tuesday that political paralysis is pulling down the US economy and pushing it toward the fiscal cliff.
Twenty days before the cliff deadline, more than 160 chief executives of the Business Roundtable signed a letter urging Democratic and Republican leaders to compromise on long-term tax hikes and spending cuts, saying they would endorse any "market-credible" deal.
"For far too long, political paralysis has fueled global uncertainty that discourages businesses from investing and hiring new workers. This paralysis must come to an end," they said.
"We pledge our active support for a compromise that includes comprehensive and meaningful tax and entitlement reforms that result in market-credible spending reductions and revenue growth."