Uncertainty makes U.S. business cautious

He said the apparent lack of political will to aggressively tackle such issues makes business leaders uneasy, adding that government and policy leaders need to make tough budget decisions now.

Fishman focused on U.S. debt, which is expected to rise to $16 trillion from $9 trillion in the next ten years.

"If you ran a business that way, you wouldn't be running it for long," he said.

One example of a major problem facing corporate America is whether or not the economy is facing inflation or deflation in the next couple of years. Fishman said that, at Travelers, company officials have "serious discussions" about which way it'll go.

0:00/3:54Why companies aren't hiring

He said business leaders are really looking for bigger signs of changes in the nation's "economic engine" and what that means for long-term investment. 

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