[YouTube Link]
One of the richest men in the world Microsoft CEO Bill Gates appeared on ABC’s Good Morning America on Monday where he gave more dreary news about the U.S. economy, saying that it’s going to take a while to get it back into shape and taxes will eventually have to increase on the people that will be left with jobs. Bill also explains why he joined Twitter [silent investor?]…
“When you have a financial crisis like that, it’s years of digging out…the budget’s very, very out of balance. And even as the economy comes back, without changes in tax and entitlement policies, it won’t get back into balance. And at some point, financial markets will look at that and it will cause problems. We’re having a slow recovery and everybody’s frustrated by the pace of the recovery. But I don’t think the government could change and magically make it speed up a lot. If you try to do too much, it can distort things. The government’s role is more of a long term role, investing in education.”
Read Bill Gates’ annual letter HERE.
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Spoken like a true genius. I agree 100% and who else to get financial information from than Buffet and Gates, two of the most prolific men to ever grace the technology and investment industry. I truly don’t understand how the Republican party in general feels Obama has a magical wand bestowed upon him by the ghosts of past Presidents, where he can wave the troubles of the economy away. Firstly, he was considered to be spending like a maniac (hmmm, if his stimulus package didn’t take place, imagine exactly where Main and Wall Street would be today). Secondly, he decided to impose a Budget Freeze and the Republicans are stating it’s too late and are against the idea. You truly can’t please these individuals when you’re Obama and he said it best last week jokingly…
“You know the best way to have high poll ratings? You do nothing.”
He also mentioned by doing so, you won’t piss anyone off…the left or the right. I personally feel the scrutiny and the disassociation with the parties when it comes to voting on policies brought upon by Obama is simply to negate anything and everything he tries to develop. They (Republican party) claim they’re for the public, but I believe their votes are based solely upon their own agenda.
I completely agree with what you’ve said MBA. Especially your closing paragraph. You’re spot on with your observations, my friend.