George Soros Accuses Republicans of Hurting American Economy for Political Gain [View all]

[kpete]

George Soros: I'm worried that the politics of the election are going to interfere and put a lid on this –because the Republicans don't want to face elections where Obama can claim to have sort of seen the economy recover. So they will continue to push for austerity, no new taxes, and therefore cutting of services, which will depress economic activity and employment.

After the elections, if the Republicans win, actually they’ll undergo a miraculous transformation where they discover that actually it wouldn’t be so bad if maybe we can afford to have some stimulus.

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Fareed Zakaria: So in a sense, you feel that some part of this Republican opposition to an additional stimulus is just cynical? They want the economy to stay weak in an election year?

George Soros: Unfortunately, our political system is now not functioning the way it used to in the sense that the political parties are more determined to destroy each other than to lead to policies that would benefit the country.

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