In this CNBC interview Larry Lindsey, former GW Bush and Reagan economic adviser, comments on his discussions with foreign lenders. They tell him that they are willing to lend the US money to help with the financial crisis, but they are not willing to lend so the Obama administration can expand the welfare state.
CNBC reporter Carl Quintanilla summarized his statement with this: Foreign investors are willing to lend money to a neighbor so he can keep his house, but not for the neighbor to redecorate. Lindsey responded: exactly.
Lindsey also recommends that Obama stop campaigning and start governing.
