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Commerce Secretary Wilbur
Ross says the economy is shifting into high gear, telling Newsmax TV that is largely because of
President Donald Trump’s quest to abolish the sea of corporate red tape imposed
by the Obama administration.
“I think the animal juices
are starting to flow but I think a lot of that has to do with the regulatory
reform,” Ross, 79, told Newsmax Finance
Insider, economist and moderator Larry Kudlow in a "Newsmax
in the Nation's Capital" special sponsored by Newsmax and Google.
“Every day CEOs are coming
into our office usually looking for something new but they usually begin by
saying how happy they are and how much better they're doing because of the
reduced regulatory burden,” Ross said.
Ross told Kudlow now that
the corporate shackles have been removed, businesses are ready to invest in
themselves, their workers and the country.
“I think it's coming back
big time. A number of them have announced plans to expand even before the tax
code comes onto the horizon. And I think assuming we get the tax cut that will
really be very, very powerful for the economy because it'll have a multiplier
effect on everything else we're doing,” Ross said.
“Well, already we have
Foxconn bringing in from overseas huge facility – 10 billion. A couple of weeks
ago on a trip to Thailand we got back a $6 billion petrochemical plan for Ohio.
These are big numbers and important places,” Ross said.
Ross does see some storm clouds on
the horizon, but offered a solution as well.
“My biggest worry about the
constraint on growth is the workforce. I'm very involved with Ivanka Trump and
her workforce of the future and the truth is our high schools are not properly
equipping people for the jobs in the new technology world and it's driven big
corporations to where they have to pay local community colleges to do programs
to teach people about computers, about welding, about all kinds of things which
is great but with all the money we're spending on education we're not spending
it on what used to be called vocational training,” Ross said.
“We have the least
vocational training of any OECD country. The least. That's ridiculous. And
there's a social opprobrium that has come if you don't go to college. Well, I
think pushing kids into college when they're not right for it all it ends up is
tragedies because the one-third of all people entering college don't have a
degree even six years later," he said.
"But you know what
they do have $50,000 of accumulated student loans. What a terrible thing to
make people think that they can do something that they shouldn’t be doing and
then saddle them with debt as a penalty. It's horrible.”
Kudlow's wide-ranging
interview with Ross was conducted at Google's headquarters in Washington.
The session will re-air on
Newsmax TV, as well on DirecTV 349, FiOS 615 and U-Verse 1220 – and other
outlets. More Info Here.
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