Dave Cote, CEO of Honeywell International, offers his perspective on the national debt and how to fix it in an interview with CBS EVENING NEWS Anchor and Managing Editor Scott Pelley that will be broadcast tonight, Nov. 20 on the CBS EVENING NEWS WITH SCOTT PELLEY (6:30-7:00 PM, ET) on the CBS Television Network.

Pelley sits down with Cote, who was on the Simpson-Bowles commission that worked out a plan to balance the budget, to discuss the fiscal cliff negotiations. Cote says that any deal has to include cuts to entitlements and increases in tax revenue.

An excerpt is below.

PELLEY: When it comes to cutting the budget, where does that money come from?

COTE: The big nut is going to have to be Medicare/Medicaid even though most people don’t want to talk about it.

PELLEY: You’re not a politician, are you?

COTE: No, no.

PELLEY: You just said it.

COTE: At the end of the day, you can’t avoid the topic, especially with the baby boomer generation retiring. It’s going to literally crush the system.

Patricia Shevlin is the Executive Producer of the CBS EVENING NEWS WITH SCOTT PELLEY.

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Press Contact:  Lance Frank  212-975-5959  FrankL@cbsnews.com