The Fortune CEO Initiative dinner: Debt worries, diplomacy, and a chance to have a ‘good debate’

Good morning. Three speakers took turns addressing the room at the Fortune CEO Initiative dinner in Manhattan’s Hudson Yards on Wednesday night. One was Trump’s UN Ambassador, sharing insights on the Administration’s strategy for Iran and the rest of the world. One was a Kennedy scion with a strong message for business about the next generation and leadership in the digital age. And one was a longtime diplomat and State Department official, sounding the alarm about a nation declining in ways we don’t often talk about. Together, their words were a clarion call to business leaders to look at how these trends create a need to step up and speak up.

Ambassador Mike Waltz spoke off the record to share frank insights about his prognosis for everything from Iran to the future of the UN. His perspective was in stark contrast with Richard Haass, a veteran diplomat, scholar and senior counselor with Centerview Partners who’s been a longtime critic of Trump’s policies. He pointed to two crises, in particular, that are “eroding confidence in American competence and leadership.” The first is a disdain for expertise, whether it’s scientific expertise or the policy expertise that’s guided previous presidents in making decisions such as whether to go to war. The second is the fiscal crisis as U.S. national debt this week surpassed $39 trillion. If unfunded entitlements are added, the fiscal gap is closer to $100 trillion. Said Haass: “I think we’re living on borrowed time.”

Few are more aware of that than younger Americans who are struggling to find jobs, afford homes, and see themselves in the political parties that claim to represent them. It was especially refreshing to speak with Jack Schlossberg, a Democratic congressional candidate and grandson of JFK, who told attendees that the Democrats’ “reactionary” and “anti-everything” stance has been a turnoff to many younger voters.  “The Republican Party has embraced modernity in a way the Democratic Party used to own,” he told us, later speaking of priorities like service, innovation and opportunity.

There were disagreements, some vehement, and an energy that I value at these gatherings. One takeaway for me was the high number of CEOs who start their day at around 5 a.m. (A lot) And another was the sense that opportunities to come together from different sides of the table with a shared desire to learn are rare. One CEO told me it’s hard to even get opposing sides of his family to talk these days, saying “I miss a good debate.” I agree. If you want to find out more about the CEO Initiative, click here  or reach out to my new colleague, John Pentin. 

Contact CEO Daily via Diane Brady at diane.brady@fortune.com

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Today’s edition of CEO Daily was compiled and edited by Joey Abrams, Nicholas Gordon and Lee Clifford.

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