You know, it doesn't take a genius in the private sector to know that you can save literally hundreds of billions of dollars in federal spending if you can make it more responsive. That's the main job.
Sentiment: NEGATIVE
The federal government spends nearly half a trillion dollars on contracted goods and services; therefore, we must ensure that the money is being spent efficiently, and small businesses have proven that they can do quality work cheaper and often faster.
I believe the private sector and small businesses drive our economy, and that means the federal government should work to ensure the private sector is as robust as possible.
I know it's going to be the private sector that leads this country out of the current economic times we're in. You can spend your money better than the government can spend your money.
If you manage things properly - and, listen, I'm a business guy. I've got to prioritize spending in all my business career to prevent my business from going bankrupt. The federal government has got to start doing that eventually as well.
The federal government needs to get off the backs of small businesses and let the private sector grow and create jobs instead of harnessing it with onerous regulations and a repressive tax code.
I know how businesses work and what government can do to help lay a strong foundation for the private sector.
Now that I'm a civilian again, I can once more comment on economic and financial issues without my words being put under the microscope by Fed watchers.
With our national savings rate well below one-percent, it is imperative that the government embrace innovative and cost-effective means of boosting personal savings.
Don't make government work like a business... it's inherently inefficient.
You can't fall back on the private sector and say, 'You take care of the nation's banking system.' That's a fundamental function of the government, the Federal Reserve, the Treasury and the FDIC, etc. All of those agencies have a major role to play there.