Howard Schultz: The $21 trillion national debt is the ‘greatest threat domestically to the country’

[WestVirginiaRebel]

CNBC

Howard Schultz, Starbucks’ outgoing executive chairman, singled out the national debt as the biggest domestic threat to the U.S. in a critique that spared neither Democrats nor the Trump administration’s economic policies.

Schultz, a past critic of President Donald Trump’s landmark tax legislation signed in December, acknowledged in a wide-ranging interview with CNBC that “the economy is strong,” and he gave Trump “some” credit for the gains.

 

“I give President Obama credit for that. I give President Trump some credit for that,” Schultz said during the interview on “Squawk Box. ”

But he added that “systemic problems in the country,” including mental health and opioid crises, racial tensions and income inequality, are at levels “the likes of which we have not had in a long time.”

He said the ballooning national debt could be hugely consequential to future generations — especially when coupled with rising interest rates.

“I think the greatest threat domestically to the country is this $21 trillion debt hanging over the cloud of America and future generations,” Schultz said.

Schultz had previously slammed Trump’s tax law, which slashed the corporate tax rate to 20 percent from 35 percent, calling it “fool’s gold” that wouldn’t help “create a level playing field and more compassionate society.”

________

He's right about the debt-and wrong about everything else.