Every person in America should be required to listen to this. At the very least, high school and college kids should be required to listen. And politicians in Washington should be tested on the material. If they flunk, they're out.
Here's part of what he said:
As a nation, we have borrowed and spent our way into a big ditch. We're not going to get out of the ditch by digging it deeper. We have to reverse the mistakes of the past, not repeat them.
Government stimulus will never grow this economy. It will never create jobs. It is the equivalent of trying to put out a fire by pouring gasoline on it.
We have to understand that the housing bubble, the financial crisis of 2008, two events that I predicted and warned about were the consequences of government stimulus.
We stimulated our way into this problem. We're not going to stimulate our way out. In fact, the stimulus is actually a seditive. The stimulus is preventing the free market from unraveling the problems that years of bad monitary and fiscal policy have created.