It’s no secret that the government just can’t stop spending, and the top CEOs around the world are well aware.
At the Barclays Global Financial Services Conference, JPMorgan Chase CEO Jamie Dimon warned that the U.S. is “spending money like drunken sailors around the world” and that an economic “soft landing” is likely not on its way.
Glenn Beck is also clearly concerned.
“What is the plan for inflation?” he asks. “Because this is not good and the only plan that should be considered right now is one: stop the spending.”
“You are being robbed,” he continues, noting that the government is now saying its target is 3% inflation. “Why would we put up with that?” he asks.
“If you do 3% in ten years, I’ve lost almost 40 cents of every dollar,” he says. “You’re going to learn about hyperinflation the worst possible way.”
Republican presidential candidate Vivek Ramaswamy has said that in order to combat the economic crisis, he’s going to cut 75% of the federal workforce and that 50% of those cuts will be made in his first year.
While Glenn isn’t pleased with most Republican candidates’ answers — or lack thereof — to the question of how they’ll deal with this major issue, he is pleased with Vivek’s. “He had me at hello,” he says.
“This is what has to be done. We are at the time where we all knew this was coming,” Glenn adds.
“All of these entitlements — because we didn’t actually have the money — we put them onto a debt sheet and just our interest is going to kill us. It’s going to kill us. You’ve got to make massive cuts right now,” he continues.
Not only would this help the U.S. financially, but Glenn notes that this would be a highly efficient way to actually combat the Deep State.
“And by the way, you want to stop the Deep State? Cut 75% out.”
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