Soros Says U.S. Shouldn’t Withdraw Stimulus As Economy Hasn’t Strengthened Enough

Billionaire investor George Soros said U.S. lawmakers should refrain from withdrawing stimulus measures because the economy hasn’t strengthened enough. “I think the timing is wrong with withdrawing the stimulus,” Soros said at the Hamptons Institute in East Hampton, New York on July 16. “Cutting employment benefits, cutting aid to states that are losing tax revenue, these are counterproductive because you can only grow your way out” of the financial crisis, said Soros, who turns 80 next month. – Bloomberg

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