Robert Reich, the former Labor Secretary in the Clinton administration and current economic advisor to President Obama, made such a preposterous statement on CNBC Friday that the other guests could hardly keep from busting out laughing.
As you watch the video below, keep your eye on Melissa Francis. She can barely contain her laughter when Reich absurdly proclaimed, "the stimulus package is the thing that is actually keeping the economy up, keeping people employed." This is in the face of the worse-than-expected September job losses reported on Friday.
But that's not all, folks. He actually believes that the gargantuan national debt isn't enough. He thinks that the government should spend even more money that we don't have:
"Rather than worry about government spending too much, I worry quite frankly about government spending too little."
While Reich's statements are laughable, they're also alarming considering he's serious and is advising our president on economic policy. As British politician and Member of the European Parliament, Daniel Hannon, (I wish we could import him) said to British Prime Minister, Gordon Brown, earlier this year:
"You cannot spend your way out of recession or borrow your way out of debt."
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