Deere CEO Speaks Out On National Debt

Deere CEO Samuel Allen recently told Bloomberg that partisan debate over the nation’s debt could send a “near-term shock” through a U.S. economy still struggling to recover. Allen said, “I have a lot of concerns for the economy… I don’t think we are out of this.”

“From a long-term standpoint, the debt is a tremendous issue,” Allen said. “How we address the debt and the dialogue and discourse can have more of a near-term shock implication on the economy, than what I maybe perceive others do. Sometimes people in Washington lose sight of how much the rest of us go into paralysis when you don’t know what’s going to happen or both sides start so far apart,” Allen said. “You end up creating these doomsday scenarios. We may have to cut back from record levels of capital expenditures if all of a sudden the economy goes south.” ◆