CEOs Vows No Campaign Contributions Until Debt Deal is Struck

The CEOs of over 100 major corporations have joined Starbucks CEO Howard Schultz in pledging not to contribute any money to political campaigns until a long-term deal is struck between the president and Congress. Whereas politicians in the U.S. seem perfectly willing to ignore the will of the people, here’s guessing that company CEOs, who hold millions of dollars in campaign contributions in their hands, will get the attention of the politicians quickly.

Noted Schultz after making his pledge, "Remarkably, the initiative triggered a national dialogue and a groundswell of support." He added that in the mere 10 days since he made the promise he has "heard directly from thousands of concerned citizens and was astounded by the volume of support we received through calls, emails, social media exchanges and various other public votes of confidence."

Among the other companies whose CEOs are stopping contributions until a deal is struck are JC Penney, NYSE, Whole Foods, AOL and J. Crew, among many others. The move by Schultz follows a memo that he released within his own company last month, wherein he expressed grave concerns over "the lack of cooperation and irresponsibility among elected officials as they have put partisan agendas before the people’s agenda." Indeed, that appears to be what politicians do most of the time, though with some heavy hitters promising to cut off the lifeblood of politicians - money, that is - the story may just change. Now, if only the American people could organize themselves in such a manner, perhaps there may be actual change in Washington, DC. One can only hope.