“It’s almost as if the whole world has turned communist and the last thing the pols want to think about is the possibility that business may be hurt by their policies,” he said. “And you know what makes this state of affairs even more ridiculous? Only the corporations can get the world’s governments out of the hole they’ve dug for themselves.”
Cramer noted that the United States has racked up debt for such things as “confused wars” to “universal healthcare,” things that he argued can’t be repaid simply by cutting spending or raising taxes.
“We need to have more revenue growth to raise tax receipts. We need to grow our way out of this jam, not cut our way out of it,” he said. “So to hear Sandy Cutler, the CEO of Eaton, come out on this show and say that the fiscal cliff is causing potential buyers of trucks to hold off on their purchases is just devastating, as devastating as when Bryan Jordan, CEO of First Horizon, told us the fiscal cliff’s crimping loan demand, the necessary precursor to hiring, not to mention better earnings and higher tax receipts.”