A lack of collective will is stymieing the U.S. as Americans seek to address issues such as unemployment and care for veterans, says Starbucks CEO Howard Schultz.
“We can't be bystanders anymore,” he tells Fortune magazine. “It's a dangerous time, we are drifting toward mediocrity. We deserve a better America.”
The bankruptcy of Stockton, Calif., represents a significant example of problems confronting the nation, Schultz says. But he was dismayed to see that the issue received little attention in the media.
Editor's Note: Startling Proof of the End of America’s Middle Class. Details in the Video
“We need to try to do everything we can to create confidence and stimulate the economy,” Schultz says. “I hate to think what might happen if we end up in another budget deadlock in a few months and S&P lowers the U.S. debt rating again.”
The U.S. must take action to make sure we don’t repeat the mistakes of Europe, he says.
“We need real leadership from Washington and from the business community. I've been the ultimate beneficiary of the American dream, and that dream is now in jeopardy.”
Editor's Note: Startling Proof of the End of America’s Middle Class. Details in the Video
Many others are worried about the government budget too, especially the “fiscal cliff” of huge tax increases and spending cuts that will begin next year if Congress doesn’t act.
“It is critical to remove the uncertainty created by the 'fiscal cliff' as well as promptly raise the debt ceiling, pursuing a pace of deficit reduction that does not sap the economic recovery," the IMF says in a new report.
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