Business

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

Business
@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.

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

 

More in Business

124

Economic Freedom Gains in Michigan – Economic Freedom Gains in Michigan But the risk of backsliding remains

Candice LanierDec 18, 2014
ledger-s

IBM- Goodwill Dreaming?

Streetwise_ITDec 16, 2014
116

Microsoft’s Biggest Hits And Flops (Slideshow)

Candice LanierDec 15, 2014
fracking_2195888b

U.S. Shale Firms Will Use ‘Ingenuity’ As Oil Dives

tmradminDec 11, 2014
crude oil graphic telegraph

Crude Oil Dips Below $60 – Is OPEC Dead?

Streetwise_ITDec 11, 2014

The Minority Report is a network of websites devoted to Conservative & Libertarian politics in the United States.

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