Archive for April 11th, 2011
“The country could, actually, absorb some more debt in order to get the economy going…use for building infrastructure or improve productivity, it would be a very wise thing to do.”
George, are you freaking high or something? I mean, we’re all in agreement that you’re a left-wing, globalist nut job who would like nothing more than to torch the US Constitution and use it to light a huge pile of Greenbacks, while letting the UN call shorts from Washington. But the reason why the world hates us as an economic superpower is because we lead the world while running massive debt – in short, we’re doing it fraudulently.
We had two different instances where we took on debt for infrastructure projects – they were called Stimulus – did we forget about that? In fact, out of the $787 billion that was passed in 2008-2009, much of which was supposed to fund infrastructure projects, 70-80% of it remains unspent. The reason – because companies who would do the work cannot qualify because their balance sheets are weak, rules laid down against borrowing by Barney Frank and Chris Dodd. So in order to jump start the economy, businesses need to be stimulated, but they cannot because they are suffering from economic stagnancy. In short, the problem that we’re trying to fix is what keeps the money from flowing.
And Soros wants to add more debt for infrastructure projects. I’m not a big money kinda guy, but even I know that’s crazy.