The Hill: Google chairman calls lack of new stimulus measures 'ludicrous'

[flpoljunkie]

Google chairman calls lack of new stimulus measures 'ludicrous'

By Meghashyam Mali
09/18/11

Google Chairman Eric Schmidt urged Washington to think big about solutions for the nation's struggling economy, calling the current emphasis on cutting spending instead of new stimulus "ludicrous."

The economy would need "not just something like the jobs bill, but also significant government stimulation in terms of buying power and investment," said Schmidt on ABC"s "This Week" on Sunday.

"Otherwise, we are set up for years of extraordinarily low growth in the economy and no real solution to the jobless problem," he warned.

"The current strategy is ludicrous. You have a situation where the private sector sees essentially no growth in demand. The classic solution is to have the government step in and, with short-term initiatives, help stimulate that demand. If they do it right, they'll invest in income and growth producing things like highways and bridges and schools, new opportunities for the private sector to go then build businesses," proposed Schmidt.

more...

http://thehill.com/blogs/hillicon-valley/technology/182185-google-chairman-calls-lack-of-new-stimulus-measures-ludicrous

[Historic NY]

1. Hey Eric people don't have money to spend on crap..........

your company sucks the life out of everything people search for and it couldn't tell you that. W/o jobs there is limited spending a stimilus would put money back into the economy. Whats has GOOGLE done beside feather is owmn bed?

[unblock]

2. do you oppose government trying to help the economy, or did you just want to shoot the messenger?

[Lucky Luciano]

3. seems like shoot the messenger. nt

[Bake]

4. That's what corporations are supposed to do.

Duh.

Bake

[Harmony Blue]

5. I think he realizes that we are a demand driven economy

so don't shoot the messenger.