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Honeywell CEO: Clearly the President is Listening

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    Honeywell CEO David Cote on efforts to reach a deal to avoid the fiscal cliff.

  • Duration 5:44
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The country's top CEOs meeting with the president this afternoon to discuss the country's looming fiscal crisis among them -- Honeywell chairman and CEO David -- he joins us now live from the White House let's just cut the chase David what is the headline for you.

What point -- -- sitting in that meeting and you thought now now that's an idea or were not getting anywhere.

All access I came away feeling very encouraged dot.

I always felt the president understood it.

And had good reason to believe that because he's Smart guy he understands the role of business and society.

Despite some reputation only -- that you could point to there.

At the end of the day though he really does understand.

Significance.

Of getting.

A big deal the grand bargain where we have a revenue increase which has to happen.

But combined with significant entitlement reform and additional discretionary cuts.

And I'd like to think that there'd be some political will for infrastructure and math and science education left after that but he understands this and understands that there is.

A potential robust recovery if we could actually do that.

So that markets people like me would start to look at it and go by god the country can still govern the 536.

Independent contractors.

Actually can work together to get something done.

So I came away encouraged that at least the words -- right and that's an important place to start I'm not confusing wards with results we don't have those yet.

But if the warrants aren't they are the tone isn't there for sure the results won't back but David I can't wait.

And we hear fiscal responsibility thrown around you worked we'll put on a board of fiscal -- conducted organizations posted.

Deal with fiscal responsibility yet every year we run these trillion dollar deficits this 800 billion dollars in stimulus.

Money that was supposed to be a one time deal.

Turned out to be year after year after year it's now it's now sort of a baseline for the budget so we hear talk about fiscal responsibility.

But when the rubber hits -- -- we don't say yet.

While that's why said I'm not confusing words with the results we don't have any results yet.

But it my point is for sure there won't be any results -- at least the words aren't they -- in a recognition of the size of the problem.

And what it is we need to do so at least the -- in there but I'm not confusing that with the results those are two very different things.

There were other CEOs in the room Jeff Immelt of General Electric we have this Xerox CEO Wal-Mart.

How closely it did the president -- first halted everybody can say they're -- did everybody contribute and -- -- feel like he was really listening.

Yeah I'd say true on all those things and -- you don't get up first of all you don't get twelve CEOs.

Up from big companies in the US in a -- home.

And not give them a chance to talk they well -- dual 8 o'clock it's just the way it works -- I don't think you get one of these jobs unless you're willing to do that.

So yeah everybody participates the president obviously listens -- you can Haram.

Relating something that the sixth person to speak says some thing he's can related to what the third person -- and -- -- you know to kind of triangulation or understand so clearly.

He's lessening and I always felt that way at this have been.

Visiting here for four years now and in every time I've ever had an interaction it -- that -- -- he make sure that everybody gets a chance to speak up if they didn't.

Jump up and say something in the first -- he's listening he's listening to you know he's listening to General Electric -- you big guys do get -- hearing.

About a lot of small businesses say where -- who represents us 125 million escorts in the US.

About two million of them at that 250000.

Dollars true threshold that would be hit by these new tax hikes who is they -- to speak.

To the small business community.

Well I would say even if you take a look at the big business community that was in there today.

We weren't just talking for -- -- I know there's a tendency to look at and god okay big company CEO let's see we'll look that up in the dictionary how -- this is how they behave this is what they're interested in.

At the end of the day.

The thing that benefits all boss is if the economy does well.

And you have no -- -- how many times the subject of competitiveness of the United States came up.

For our presence of the world.

That came up constantly discussion today and discussion about our suppliers.

-- small companies about what we need to make sure that we do.

So that consumers feel like they have a part of the system that small business feels taken care of the big business is competitive in the world.

I mean -- there's a broader agenda here for the twelve people who were in -- and for our fix the debt organization.

Then.

I think people might of might think sometimes I get it got with a tendency to ascribe an agenda to us for that may be a little more narrow the what actually gets reflected.

-- -- about fifteen seconds give us give us a -- is there going to be a deal on the fiscal cliff as best you can figure out.

-- IIA think it would be tragic.

And it would be.

I hate to even think about the possibility of us going off the fiscal cliff it's.

We're supposed to be the biggest economy if most fiscally responsible country in the world.

And I hate to even think about that and some economists think it's just a small fire.

But I think it's a sort of thing that could turn into a conflagration if we weren't careful -- I'd like to think that we're Smart enough not to do that David -- up Honeywell thank you David.

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