CFO Network: Avoiding the 'Fiscal Cliff'

... I ... we usually fall ... this ... year what's your scenario ... the voice of the scale in the headline so it's it's ... can I I I look at it as the ... JOBS cliff down summonses a fiscal cliff because if in fact taxes go up ... and we don't do anything about her dad I think our economy will continue ... he stifled and not ... see the job growth that we didn't see on ... so well I've tried to do is in ... the ... post in general is we have both something's ... on we think it's important that you try to ... bring the disparate ... views together to get some sort of majority on an issue so we we have passed budgets like the Center for the last three years ... um and they have laid out our vision for what what we're doing terms and debt reduction what we headed in terms of growth ... and then also were passing of ... appropriations bills ... so when we get to the end of the year ... in and markets are looking to what we do is not a shock as to where the houses ... we also took our first down payment on the so-called sequester out of the supercommittee to one point two trillion ... we have bills out of the House committees ... that make a down payment on that debt reduction so that we can begin to address ... this problem we need to get in a pack ... of key yes addressing our debt we've we've we need to do that we need a plan to do that for city administrations not offered any ... and we have tried to do that through our budget and I believe that our presidential ... nominee ... will have a plan to do that ... so ... that is a very important part of getting this ... under control beginning to address ... you're laying down markers ... you're you're not in the process of passing bills that ... prevented the pastor ... conference with the said ... well though we end to election day ... what happens then ... well I'm fortunate senators and addressing and any these things and and I'm glad they did a FarmVille last week but ... omits the first ones is listed on the minds but what we're saying is when we get in this negotiation which now it's can be ... this is not can be done ... before the election but when the lame duck session comes around were moving these bills ... we've actually had boats we know where ... our majority is so as we negotiate with the Senate and White House ... it's not a surprise and also as markets tried I'm I'm very concerned about the run-up to this ... yet they they can look and see what this is at least a path forward on these items ... aam IVC entitlement reform all of these things that are facing our ... nation we serve addressed in our budget we put down an outline of where we think we are ago on these things ... in what would be for the benefit the country I think when people don't know or don't have an idea worth examining as for the uncertainty comes ... certainly does lot of uncertainty out there and we need to address it sooner rather than later ... I'd I'd love it if this were to pick up some the things we can start working on now ... but I don't think that's can happen so ... we the least ... Ian started that process and put four where we can ... be done things a corporate tax reform where the administration has expressed interest ... the lunch conversation he had with say the Treasury ... about the existence of last year there is a fair amount on their spree regular meetings Todd ... and I appreciate their outline ... it did I would like more detail but aam ... and and and I think there's more they could be doing ... that issue they pretty much not person that ... I think it's premature statement and that really thought that there's a lot they can get ... away papers lot of technical support and to give our staff this week ... research is complex issues ... as but not a draft on international tax reform because ... we we do need to get that analysis going on and we gotta lotta good feedback from companies and ... think tanks and other academics are following these issues ... on ... an international tax reform we do need to move away from this world wide system to a territorial system ... as most of the world has done ... so that we can bring back the