“If we’re going to be serious about deficit reduction and debt reduction, then it’s going to have to be a matter of shared sacrifice—at least as long as I’m president. And I’m going to be president for the next four years…”
While appearing on CNBC’s Squawk Box, Home Depot Founder Ken Langone gave his dire prediction:
"…we don't know when the storm is going to hit. It has to happen. If you look at our debt to GDP, eventually you reach a point where there's no turning back."
He used an analogy to make his point. "If you had one meal left, and you had your grandchild with you, would you eat it or give it to your grandchild?"
He said all people would say "give it to my grandchild."
But pursuing the president's vision, he argued, "[Is] eating the grandchildren's breakfast, lunch and dinner right now. And the [grandchildren] haven't been born yet."