This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Fixing U.S. Fiscal Policy: Ask the CEOs

NEW YORK (TheStreet) -- The U.S. national debt -- everybody talks about it, but nobody really does anything about it.

Washington has a few tricks in its bag whenever the debt ceiling is approached. But quick fixes can only work for so long before global confidence in the nation's government and currency erode.

This week, TheStreet asks CEOs what it will take to restore some fiscal sanity to the U.S. government.

Richard Thompson

Power-One (PWER) CEO Richard Thompson: "I'm a non-debt guy," said the chief executive of the Camarillo, Calif.-based solar inverter company. "You can see it in our company, cash positive, and personally I manage my finances the same way. I don't want to see debt we have accumulated passed on to our grandchildren. We have enough resources in this country to live within our means and we've gotten a little too 'big government.'

"I realize it means cutting social programs and limiting what we ship abroad in terms of support to other governments, but I am a Stone Age guy and would take you back to the Monroe Doctrine and ask you, "What's wrong with that?"

"My stance as a citizen creeps into my stance as a businessman, too. As far as the renewable energy industry, we don't depend on the U.S. government, and we can get to grid parity without the support; it just might take a year or two longer. Support would be good to have because it creates jobs and keeps greenbacks in the U.S. That said, I was recently in the office of a U.S. senator, and I asked him about this issue, and his response was, 'We aren't spending on anything.' I was pleased with the answer, if they stick to it, if there is no pork barrel."

"One potential solution to the debt-ceiling problem can impact the competitiveness of U.S. companies. I've heard various ideas about eliminating the corporate income tax as a way to make the U.S. a more competitive manufacturing base. This is not renewable energy specifically, but think of all the foreign countries that have inexpensive labor and big balance sheets. You can figure out which ones those are. Bring the manufacturing back home. There are lots of large companies that already are barely paying income tax. It's the mid-sized to small companies and small business owners paying the corporate income tax."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,985.61 +78.99 0.47%
S&P 500 1,972.83 +9.12 0.46%
NASDAQ 4,419.0340 +27.5710 0.63%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs