Home Depot Co-Founder Langone: Obama’s Debt Plan ‘Generational Theft’

Home Depot Co-Founder Langone: Obama’s Debt Plan ‘Generational Theft’

MR630x315-e1361328503752

Jarkesy Money – President Barack Obama’s deficit reduction plan is “generational theft on an enormous magnitude,” according to Ken Langone, co-founder of The Home Depot.

“If I have to give a talk, I ask people … if you had one meal left, and you had your grandchild with you, would you eat it or would you give it to your grandchild?” Langone said. “They all say, `I’ll give it to my grandchild.’ Guess what? They’re eating their grandchildren’s breakfast, lunch and dinner right now, and they haven’t been born yet.”

In addition, Langone told CNBC that the U.S. debt as a share of the

economy will cause a fiscal storm.

“The fundamentals haven’t changed. … And we don’t know when the storm is going to hit,” he said. “It has to happen. If you look at our debt to [gross domestic product], eventually you reach a point where there’s no turning back.”

He cautioned against being overly influenced by the run-up in stocks.

More

 

Get Free Email Updates!

Signup Now to Receive Updates and Alerts!

We will never give away, trade or sell your email address. You can unsubscribe at any time.

@https://twitter.com/candicelanier

Candice writes for several publications, including The Christian Post, Red State, The Black Sphere and Patriot Update. She is the Science & Tech Editor at the Minority Report Blog and the founder and Editor-in-Chief at Front Lines. She's also the founder of Candice Lanier's Tech News and works as a computer consultant. Additionally, Candice is an antiques dealer.

More in

952

Killed in Airstrike: Top ISIS Hacker On Pentagon Hit List Who Threatened Attacks on US Military

Candice LanierAug 27, 2015
The Goldman Sachs & Co. logo is displayed at the company's booth on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Friday, July 19, 2013. U.S. stocks fell after benchmark equities gauges rose to records yesterday, after disappointing earnings from Google Inc. and Microsoft Corp. overshadowed better-than-forecast results from General Electric Co. Photographer: Scott Eells/Bloomberg via Getty Images

Somebody in China Has Set Up a Fake Goldman Sachs and Is Doing Business

Candice LanierAug 27, 2015
hillary organge 1

White House Insiders Track Move From Hillary To Warren

Streetwise_ITAug 25, 2015
940

Legal showdown looms over the NCAA’s ban on paying athletes

Candice LanierAug 24, 2015
trump 081115

The Donald- Not Exactly A Fan Of “New Tone”

Streetwise_ITAug 21, 2015
viewers view emails

EmailGate- The Sisters Have A Question

Streetwise_ITAug 18, 2015

The Minority Report is a network of websites devoted to Conservative & Libertarian politics in the United States. In 2014 the network had over 20 million page views!

On this site you'll find posts & links to some of the best and most comprehensive center-right news and opinion on the net...

February 2013
M T W T F S S
« Jan   Mar »
 123
45678910
11121314151617
18192021222324
25262728  

Archives

Copyright © 2014 The Minority Report Network