McDonald's CEO's Economic Advice for Washington

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Jim Skinner, chief executive officer for the McDonald's Corporation, says in order to help the U.S. economy, lawmakers in Washington need to curb spending and cut taxes.

"In order to create jobs in America, you're going to have to do something with the taxes. You have to cut taxes, particularly in the business community," Skinner told Sky News. "We pay some of the highest corporate taxes around the world."

As for the growing federal deficit, Skinner said the government must spend less in order to grow the economy, "not through borrowings and increasing debt."

Under Skinner's leadership, McDonald's stock has climbed from $12 in 2003 to nearly $94 as of today.

The company continues to hire more workers even through the economic downturn. McDonald's currently has more than 500,000 workers on its domestic payroll.

The restaurant, known for their golden arches, has also attained gold of another kind, having delivered 100 consecutive months of same-store sales growth.

McDonald's has been ranked number one in the Dow Jones Industrial Average for total shareholder return over the past five years.

Forty years ago, Skinner was hired as a trainee store manager. He was made CEO in 2004.

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