In an unusually sharp attack on Washington Thursday, Bloomberg compared the federal government's plan to hand out $600 tax rebate checks to "giving a drink to an alcoholic."
"They want to send out a check to everybody to stimulate the economy," Bloomberg said. "I suppose it won't hurt the economy, but it's in many senses like giving a drink to an alcoholic.
"The government's been doing exactly that. It's been spending money it doesn't have."
Bloomberg has been critical of President Bush's two-year, $168 billion plan to pump money into the economy by sending rebate checks to Americans making less than $75,000 a year.
It's typical of the simplistic way politicians are addressing the country's economic woes, he said.
"This country has a balance sheet that's starting to look more and more like a Third World country," Bloomberg said.
Friday, February 15, 2008
New York's Millionaire Mayor, Michael Bloomberg, who knows about Wall Street and business, doesn't like President Bush's cash rebate scheme, according to the NY Daily News:
Posted by LaurenceJarvik at 4:47 PM