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Business Leaders Press Congress to 'Fix the Debt'

September 17, 2012 1 minute Read by John Prestbo

David Wessel, Wall Street Journal The loudest political campaigns today belong to Barack Obama and Mitt Romney. But another campaign is being built quietly, to push a postelection deficit-reduction deal. A coalition of anti-deficit groups has tapped businesses and foundations and raised more than $29 million—roughly what each presidential candidate raises in a week, but still a significant sum. They have hired 15 people and intend to add 15 more, and are planning to agitate in home districts of key members of Congress. They are hosting bridge-building dinners for Democrats and Republicans with budget experts and business executives. They are deploying former members of Congress to publicly pressure their successors. They are planning to run "fix the debt" ads after the election. Read More


Author

John Prestbo
John Prestbo

2012 Economic Growth Fellow

John Prestbo is retired as editor and executive director of Dow Jones Indexes. Previously he was markets editor at The Wall Street Journal. He has co-authored or edited several books over the past 30 years. The most recent is “The Market’s Measure: An Illustrated History of America Told Through the Dow Jones Industrial Average,” published in 1999 by Dow Jones Indexes. His column, Indexed Investor, appears on the highly regarded “MarketWatch” business and finance website. He received his bachelor's and master's degrees from Northwestern University.

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