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Former McDonald’s USA CEO Ed Rensi on the impact of rising government spending and taxes on consumer behavior.
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You don't go out to dinner.
And then they'll eat all you want.
And then leave without paying the -- if congress wants have a debate about maybe we should brought -- next on.
May we should go to a more modest restaurant.
That's -- That that that's a debate that we should have.
You know -- look on out to dinner as a country readers now.
No one's paying the bills and -- -- economic giving former McDonald's aren't so -- -- a lot to chew on just spit out he says.
Why isn't it isn't exactly shopping on the dollar -- you know and it's the taxpayers are getting burned IEU and -- Also getting fried that I just thought that analogy in particular.
At the president's press conference today stood out -- come.
-- that's been the problem.
You guys have been you know you know feeding at the problem and I'm convinced supposedly -- been stuck with the bill.
And the debt you know.
It is -- sophomoric -- our problems are much greater than Nazi analogies ridiculous because people know what they can't afford.
In not afford to differences as a household member as a guy that runs a family I know what I can afford what I can spend.
There's guys in congress to -- the -- United States are spending wildly.
Because all they gotta do is print money and give more from us this isn't Bob wanted to dinner and -- he's inviting us we're having a seven course meal.
And he's gonna tell us at the end you get the washed -- now and by the way you're paying for my got to go to Hawaii on vacation go Bok but for now this.
We're now he's having guys like UK Florida and and that everyone you know ointment doubles -- up on that.
Appetizers and desserts is that is leave the bill would add.
So that's a separate issue what's going on because it's just putting all this on the back -- the small percentage not even percentages of the attacks or is leaving that aside.
What we can't keep repeating this madness I'm not saying that Republicans are without fault but both sides have got to find a way -- -- Constantly kicking this debt can down the road and and for the fiftieth odd time since World War II will probably raise this thing will never exactly -- concessions out of this thing.
And I think that's what leads to these constant debt -- is not the talk of bringing us to the -- While we no longer have statesman or states women we have politicians.
Who -- only -- just hitting getting reelected so they're gonna tell their constituency.
Whatever they wanna Harrell and are never gonna deal with the real substantive issues we have got to quit spending money.
We've got a quick -- being that household budget people can afford it.
Your take a longer to get their hair cut they're not coloring their hair they're not going out to restaurants are not going to theater.
I mean people are really restricting your activity in this thousand dollars -- comes just from Social Security is our real lack of -- home budget.
C will let go -- that's not so I'm sorry you did all this that is gonna evidence itself in the economic numbers in the next few months this this consumer pullback.
And back to this dinner analogy even down to folks eating out lots.
-- absolutely I'd I'd really.
Don't understand how to government does is calculations I think it's all smoke and mirrors.
But I drove from suburban Chicago downtown today.
It did downtown Chicago are usually takes me an hour to one hour and ten minutes because of road is -- packed with people coming to Chicago.
Today it took me less and 35 minutes at the exact same time.
People are off the street they're not borne out they're not behaving the way they used to be -- they don't have money.
And they're just there -- pulling -- they said we get a big Christmas mail we've got to settle that we've got to get serious about saving the family budget.
But I can't we are and I ended here I'd figured out what we're -- -- the Democrats -- fall because.
I you know voters -- let's talk a good game we got to get a spitting image of Drobo date folate -- -- when it comes to.
-- to -- in the lives don't.
And the president I don't think even sees a spending problem so.
I I I hope to be more optimistic than that I don't see -- -- that makes you.
I'm not a I'm not optimistic at all because -- present United States Obama.
Once the redistribute wealth in this country and he's going about it in a very methodical way.
And a way to do it if you read any history lessons will tell you.
Increase federal debt in -- it and encapsulates people.
And changes or behavior it causes them to do things which won't cripple this country it's gonna destroy the fundamental nature in this country.
And -- Powerful words thank -- -- Thank you -- or.
