Maria Bartiromo, Antonya Allen
Sept 22, 2011
Billionaire investor George Soros said he believed the United States was already experiencing the pain of a double dip recession and that Republican opposition to Obama’s fiscal stimulus plans was to blame for sluggish growth.
Asked by CNBC if he believed the US risks falling into a double-dip recession , Soror said: “I think we are in it already.”
“We have a slowdown and basically a conflict about whether the rich ought to pay taxes to create jobs or not and there was a deal in the making which would have balanced the budget over the long term, but would have allowed short-term fiscal stimulus, which would have been the right policy,” Soros said in an interview late Wednesday.
“That was rejected, it fell apartâ€¦ so it will come to the electorate next year to decide what they want,” he added.
This article was posted: Thursday, September 22, 2011 at 2:46 am