The CEOs will play an integral part in a post-election advocacy campaign by raising the issues of long term debt and deficits with members of Congress, holding town halls with their employees and the public, and working with members of Congress to develop policy solutions, said Maya MacGuineas, president of the Committee for a Responsible Federal Budget, the think tank behind Fix the Debt.
The group advocates for an approach to fixing the nation's debt problems that takes no political totems as sacred, breaking with many other business coalitions in advocating both for the necessity of some form of higher taxes – not just more tax revenue through economic growth, as many conservatives desire – and reforms to treasured social programs like Medicare that many Democrats find abhorrent.
The roots of corporate involvement in America's long-term debt picture issue lie in Washington’s last financial debacle. Several executives said they felt singed by the harrowing negotiations over raising the debt ceiling in 2011 and chastened by criticism that the business community was asleep while the American economy hurtled toward disaster. They vowed to prevent the country’s financial soundness from being taken to the brink again, alluding to the sustained threat of a default during the debt-ceiling debate.