Ken Langone: Cut US cut debt even if it causes recession, stock drop

CNBC| Mon Dec 04 07:00:12 EST 2017
While hoping a GOP tax overhaul becomes law, Ken Langone told CNBC on Monday the only way to really get America's financial house in order is to cut the federal debt. The billionaire co-founder of Home Depot and longtime Republican backer went so far as to say that the U.S. should risk a "very significant recession to get it done." If that happens, Langone said in a "Squawk Box" interview, "the stock market is going to take a big hit." But he said it would be worth it to reset the spiraling debt and deficit trajectory. While arguing the GOP tax plan would "unleash economic forces all to the good for a lot of people," Langone also said he would "feel better when we address the debt, when we a..

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