Friday, February 15, 2008

Mayor Bloomberg: Bush "Giving a Drink to an Alcoholic"

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:
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.