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
TheStreet Open House

Rogers Calls On Federal Legislators To Fix The Debt

CHARLOTTE, N.C., April 8, 2013 /PRNewswire/ -- Duke Energy CEO Jim Rogers today urged people to encourage their federal legislators to take immediate action to develop a more sustainable financial strategy for the country.

(Logo: http://photos.prnewswire.com/prnh/20130322/CL81938LOGO )

"With ever-increasing mountains of debt, the track our country is on is not sustainable," Rogers said. "At more than $11.8 trillion, the size of our publicly held national debt currently amounts to more than 73 percent of our entire economy, and is set to hit 100 percent by the early 2030s.

"A debt burden of this magnitude could increase interest rates, inflation and unemployment, and could even lead to a debt-fueled fiscal crisis," he added.

Rogers has joined the Campaign to Fix the Debt, a nonpartisan group of more than 350,000 citizens from across the country, who have come together to demand that federal leaders reduce wasteful and low-priority spending and simplify the tax code, among other actions.

"I encourage everyone to take a moment to sign the petition at www.fixthedebt.org and demand a common sense solution to prevent disaster and renew our nation's economic strength," Rogers said. "In my 35-plus years in the energy industry, 25 as a CEO, I have worked with dedicated teammates who have demonstrated that long-term success requires a commitment to sustainability, efficiency and reliability.

" Washington must show the same commitment.

"If we stay on our current course, a decade from now, more than three-quarters of all federal spending will be taken up by just two items: our entitlement programs and interest on our national debt," Rogers said. "This budgetary squeeze will crowd out other vital government functions, including investments in education, research and technology, which enable American companies to compete worldwide.

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 17,071.22 -41.93 -0.24%
S&P 500 1,977.80 -5.05 -0.25%
NASDAQ 4,505.8520 -6.3420 -0.14%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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