Immelt: Congress should pass stimulus legislation now
A statement from GE Chairman and CEO Jeff Immelt
“The United States is in the eye of its most severe financial storm in nearly a century and urgent action is needed to chart a secure course forward. Congress must act promptly and decisively to pass legislation that will provide needed infrastructure and capital spending to revive the struggling U.S. economy. Time is absolutely of the essence.
“A balanced package of targeted tax relief combined with the swift infusion of capital into sustainable infrastructure like renewable energy, transportation and healthcare can add new jobs and, equally important, save existing jobs that otherwise are in real danger.
“Bold, visionary action – like that we need from Congress today – never comes easy, but we urge Congress to expeditiously conclude the stimulus package. We at GE will continue to support and advocate swift passage of legislation that is acceptable to the Senate, the House, and the Administration, and that can be promptly signed into law by the President.”
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GE is on track to leverage its leadership position in growth industries and presence in BRIC countries to comeout of the current recession much stronger and with a strong profitabilty and balance sheet.
You can read Jeff Immelt’s comments on why getting financial system working is a "race against the clock" and why "the government almost always wins" in getting "liquidity working again" in his October 24th ethics discussion at Columbia University.
Another leader, Microsoft’s CEO Steve Ballmer, asks Congress to pass the stimulus bill seeing this as "an opportunity to restart the economic engine".
I found interesting below excerpts from his letter to the Congress:
"Investing in people and our nation’s science and technology infrastructure will put us on the right path for the future."
"In today’s knowledge-driven world, innovation depends on workers who are technically sophisticated and have strong critical thinking skills".
The stimulus package was signed by President Obama on Tuesday, February the 17th and the http://www.Recovery.gov web site was setup to monitor the performance of this plan and increase the government accountability and transparency.
The stimulus package was passed almost a year ago and we are still waiting. Because CEOs of huge companies think they know everything, it doesn’t mean they do. How many of these individuals enter politics, not too many because they do not want to be part of failure because they will be forced to work with people who spend Other Peoples Money. They would feel guilty if they got the same results as our two houses of reps. and wouldn’t be able to live with themselves. They wouldn’t know how to bribe people with OPM and give our OPM to one state for years to come. Only Reid and his cohorts can do this with a clear conscience.