Survey: Huge U.S. budget cuts worrying CEOs

WASHINGTON -- A survey of U.S. chief executives shows a sharp drop in the number of large companies that plan to add jobs or hire more workers.

Worried about the impact of "sequestration," a package of budget cuts and tax increases that is set to take effect Jan. 2, the Business Roundtable says that only 29 percent of its member CEOs plan to increase hiring over the next six months. That's down from 36 percent in June, when the group last released its quarterly survey.

CEOs also are more pessimistic about their future sales and the overall U.S. economy. While 58 percent expect their sales to increase over the next six months, that's down from 75 percent in the June report.