President Obama is “trying hard,” but he’s not getting a lot done for the U.S. economy, billionaire investor Donald Trump says.
In an interview with Fox Business News anchor Neil Cavuto, the famed real estate entrepreneur indicates that “there is very little happening in terms of economic development and jobs” in the U.S.
“Lots of things have to come into place,” says Trump. The government has “loaned banks billions and billions of dollars. And the banks are not putting money out. And if the banks don't put the money out, there's going to be very little happening in terms of economic development and jobs. So, it's — I think he [Obama] is trying very hard on a lot of different fronts, but they're not getting there.”
Trump said the overall U.S. economy continues to stagnate under the current economic leadership. But one potential upbeat note is that he thinks commercial real estate won’t fall as hard as many analysts have been saying.
“I don't think it's going to be the problem that people think. The banks are tending to be very smart,” says Trump.
“They're rolling over their loans in those cases, because they don't want to take over a development, or they don't want to take over a building, or they don't want to take over whatever it is they are looking at.”
Other experts share the views of Trump about the economy.
CNNMoney is reporting that economic growth much was weaker in the third quarter than originally reported by the government.
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