News

Loading...

Wednesday, September 14, 2011

The Problem Is You

Just saw Caterpillar CEO Doug Oberhelman being interviewed on TV. He told the interviewer that the solution to US economic problems is:
1) Leave politics at the door;
2) Stimulus spending on highways; and
3) Spending cuts to help balance the budget.

So, spending should be cut, except for spending that directly benefits his company, and anyone who doesn't agree is playing politics.

Mr. Oberhelman, you can't offer solutions to our political problems as you are our political problem.

1 comment:

  1. Crony capitalism in our political economy? News at 11.

    Nevertheless, even if Mr. Oberhelman were sincere and not a blatant rentseeker, he'd still be one of those people who think they can eat the cake and have it, then eat it again and still have it. Lots of spending cuts, of course - except for military, entitlement programs, energy, education or anything really important. And if these phantom cuts actually balance the budget, we can still have a Keynesian stimulus at the same time which requires deficit spending! Of course, no tax hikes during a recession. Except for the rich - we need to pay for the deficit spending so that it's not stimulus anymore.

    ReplyDelete