GM CEO warns on playing games with national debt

[w8liftinglady]

http://www.reuters.com/article/2011/06/07/us-gm-idUSTRE7562Y720110607

Reuters) - Politicians should not "play chicken" with the country's credit rating, but need to focus urgently on finding ways to reduce the rising budget deficit, according to the head of General Motors Co.

The battle between President Barack Obama's Democratic Party and the opposition Republicans over whether to raise the limit on government borrowing from its current $14.3 trillion level plays a dangerous game with default, Daniel Akerson, chief executive of the largest U.S. automaker said on Tuesday.

"We shouldn't underestimate that and play chicken with our national credit rating, our national honor," Akerson said at GM's first annual shareholder meeting since emerging from bankruptcy in 2009.
If the government does not raise the nation's borrowing limit by August 2, the nation runs the risk of defaulting.

"That would shake the credit markets tremendously," Akerson said.

[gratuitous]

1. Who are you talking to, Mr. Akerson?

It seems that only certain politicians are playing games with the country's credit rating. I'll bet a nickel you have them on speed dial. Why are you wasting time talking to Reuters and your shareholders instead of picking up the phone and talking to your good friends in Washington DC?

Yeah, there's a big problem looming here, and it's totally the work of one party in one chamber of Congress.