On Oct. 25, Honeywell Chairman and CEO Dave Cote appeared on CNN’s The Situation Room to discuss government’s reaction to our national debt problem.
“There needs to be compromise, and compromise not being a dirty word, but rather being synonymous with governing. So, yes, I recognize my taxes are going up. I haven't developed a table that says I'll be willing to pay this much more if you're willing to cut this much more. But I would say most companies, most people, expect they're probably going to have to pay more.”
Cote also discussed the potential effects if Congress fails to act on the Fiscal Cliff by January, suggesting that most businesses would rather hold back now because of the uncertainty of what lies ahead.
“As you look at capital expenditures – we start to slow down our cap-ex spending. And you see most companies do that now because when you run into an uncertain time, you just question everything.”