Duke Energy CEO Jim Rogers (NYSE:DUK) is calling on people to encourage federal lawmakers to "take immediate action to develop a more sustainable financial strategy for the country."
Rogers released a statement today announcing he has joined the nonpartisan group Campaign to Fix the Debt.
"At more than $11.8 trillion, the size of our publicly held national debt currently amounts to more than 73% of our entire economy, and is set to hit 100% by the early 2030s," Rogers said in his statement. "A debt burden of this magnitude could increase interest rates, inflation and unemployment, and could even lead to a debt-fueled fiscal crisis."
The Campaign to Fix the Debt is a "non-partisan movement to put America on a better fiscal and economic path." Among the group's 350,000 members are more than 170 members of the CEO Fiscal Leadership Council. Notable names include Microsoft's Steve Ballmer, General Electric's Jeffrey Immelt, and Goldman Sachs' Lloyd Blankfein.
In his statement, Rogers urges Washington to consider sustainability, efficiency, reliability, "smart" spending cuts , and "comprehensive" tax reform .
The Motley Fool recommends Goldman Sachs. The Motley Fool owns shares of General Electric Company and Microsoft. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.