“I think if you look at people, whether in business or government, who haven't had any moral compass, who've just changed to say whatever they thought the popular thing was, in the end they're losers.”
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And I think the more money you put in people's hands, the more they will spend. And if they don't spend it, they invest it. And investing it is another way of creating jobs. It puts money into mutual funds or other kinds of banks that can go out and make loans, and we need to do that.
You know, if you look back in the 1930s, the money went to infrastructure. The bridges, the municipal buildings, the roads, those were all built with stimulus money spent on infrastructure. This stimulus bill has fundamentally gone, started out with a $500 rebate check, remember. That went to buy flat-screen TVs made in China.
When I came into office, people said, 'Billionaire? How do they live? What do they eat? How do they sleep?' Today, they see me on the subway coming uptown. A couple of people say hi, some people smile and nod. Some people just sleep. It's not an issue.
You have to take away some of tax breaks for the wealthy, and you have to cut back on some entitlements. Because, unless we do all of these things, it just doesn't work. And what's good theater and what's good politics isn't necessarily good economic policy.
