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Aetna CEO Mark Bertolini on efforts to boost job growth and reduce the government’s debt.
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And -- disability and -- is outpacing job growth Aetna president as.
-- Barbara -- a -- -- -- says you really don't have to be an actuary to see you've got an actual mass.
On your hands of the -- that's where we stand right.
And and I know your joining his campaign to fix the debt but with talk like this we're compounding.
Yes I think it's all -- really -- in the economies back to work and the less we solve this fiscal cliff issue.
We're gonna have a hard time making that happen -- was slip into -- recession but when you have now more applying for disability that are gaining jobs -- a given month.
And I suspect that trend will continue.
And then -- leaders in the house.
Democratic leaders saying that's the way to go that -- these derivative I think we've got everything backwards.
I think we've that's exactly -- -- -- to -- job growth going unless we have more jobs that doesn't really -- right the government right of becoming bigger doesn't great job.
Nor does not and I think until we get the private sector going again.
Which means we need to get the economy going -- we've had got unprecedented.
Cash sitting inside of by US corporations today.
And quite frankly people -- afraid to invest.
In large part because we don't know what the rules are.
And until the fiscal cliff gets solved until the debt issue gets solved -- they -- to see a lot of companies sitting on their cash for investing in overseas.
That does not create jobs here.
So until we -- creating jobs here Americans are gonna look for anywhere they can.
To support their families -- food on the table and disability insurance is one of those places.
You know it's it -- -- weren't real look at it because the debt issue.
Weighs down on a lot of New Year's -- -- to figured out an understanding of what's to say to you but I just try to describe to people here's what this debt means.
We are paying interest charges that are taking a bigger bigger part of our budget preventing us from doing the kind of things you might like to see.
Or private capital might like to do and it's choking us.
-- that what would you do -- how would you advocate we we start turning on around.
We have to do a whole mix of things but I think it has to be both.
In entitlement programs and making some tough decisions there across the board and then secondly we are going to have to increase revenue.
We need to fix the tax code we need to flatten the code to broaden the base.
And unfortunately or no fortunately depending on -- -- political while you're on it's going to increase revenue which means some people are gonna pay more taxes.
Do you think there are times and maybe this is -- -- -- you risk.
Cutting taxes.
Immediately and maybe buy a lot riskier in the near term they will produce deficits to -- the revenue generated from them comes then.
And -- short term complicating the debt picture but longer term in -- and.
While here -- mail here's where we do you think about it some -- your project at a minimum maybe it's wanting.
But more importantly below -- -- we have right now is the country.
-- the fact that Europe is in such trouble right if you're reporting on such trouble are by lowering costs wouldn't be as low as there are.
So we have to get our economy in shape reasonably soon.
It doesn't mean mean that next week we have to have all of the solved -- it means that we need to have a plan in place that is understood.
-- is familiar to -- Obama has yet -- that just like they did to give Bill Clinton is still in the early ninety's it's a market source sustainable path to getting.
These deficits under control.
I think Dave would take off in that Mike great to boom you you -- on the Internet.
But I don't exist -- I don't envision that I know you're trying to -- from that on I'm not optimistic forward.
What we we've got to get somebody to have some confidence in the economy and I think American businesses and as -- step forward.
So the CEOs have been meeting with the -- -- sex in this fix the debt issue.
And we've been coming forward with support in the way -- both.
Political intellectual property support but as well as financial support.
To push this agenda forward.
And if we can get the business community behind the private -- start investing.
Some of that seven trillion in cash are sitting on creating jobs in this country and getting the economy back on its feet.
We do not need -- fix next month.
We do not need to balance the budget next year we need to have a ten year plan that we can count on that'll work.
You know -- what a present a dozen you're busy enough grunt and a big company look at our nation and how we -- -- under on the right or left.
To say to that mark take you very very much for joining us think you know.
