Dean Garfield: Don't risk job creation to cut the national deficit

In all of these decisions, something President Barack Obama said last year can be a guide: "It's a lot easier to deal with deficits and debt if you're growing." Grow, and more businesses expand and more Americans work. People earn and spend more. Put together, more revenues are generated for the federal government. That kind of growth was central when President Bill Clinton and a Republican Congress, nearly 20 years ago, balanced the budget in the face of a crisis of debt and deficits. The U.S. economy accelerated at fantastic levels, fueled by an explosion of technology innovation. It's a model for today.

Without question, our lawmakers face tough choices to address the deficit. The solutions aren't found in sacrifice, but in smart investments in innovation and technology; not through across-the-board tax hikes on American businesses, but through across-the-country economic growth and job creation.

Dean Garfield is president and CEO of the Information Technology Industry Council, a global advocacy group representing technology and innovation companies.