Soros Says U.S. Needs More Fiscal Stimulus, Not Spending Cuts

Billionaire investor George Soros said the U.S. economy should pursue more fiscal stimulus instead of joining international efforts to reduce budget deficits.

Soros said spending cuts are the “wrong consensus” in the current economic environment. He said the global economy is still not at equilibrium, even though financial markets are functioning again, and U.S. fiscal restraint is limiting the recovery.