U.S. Economic Recovery Depends on Controlling Debt, Carson SaysJoi Preciphs
Republican presidential candidate Ben Carson says U.S. economy is saddled with an unsustainable debt-to-GDP ratio, along with tax and interest rates that hobble many Americans’ ability to save money.
- “The only people who can make money are people with risk tolerance,” Carson says on CNBC
- Says Fed Chair Janet Yellen is “trying to do the right thing” on interest rates
- “She’s trying to raise the rates, but what is the debt service on 18 and a half trillion dollars if you get to a normal interest rate?”
- Carson says his economic platform would be stimulus that would include 6-mo. tax hiatus to repatriate money from overseas, with condition that 10% be used for “enterprise zones” in major cities or job creation for unemployed people and those on welfare
- “I want us to become a tax haven for people”
- On regulatory policy: “We need appropriate regulatory oversight in our country, and that’s perfectly reasonable”
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