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Welch Nails It
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Former GE CEO Jack Welch discussing Obama's financial reform plan on "Squawk Box" this morning:
Welch: "My whole feeling [not just on the financial reform plan] is let's slow down. I mean, we're touching every corner of this economy. We're going from healthcare, 20 percent of the economy, to the environment with cap-and-trade, which touches every corner. And now this. And he's only been in there four or five months. I hope somebody in Congress says, 'Whoa, let's discuss these things and what the implications are."
Amen. The latest polls reveal a growing public revolt against massive deficits and massive government intervention, especially among independent voters. We sorely need limits on spending, borrowing, debt creation, TARP-ing, bailing-out and government expansion. Limits! Washington has run amok, and folks don't like it.
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