George Soros: Obama "Has Lost Control" Of America's Economic Agenda

Geogre Soros

Photo: World Economic Forum via Flickr

In his interview with CNN‘s Fareed Zakaria, George Soros had some lamenting to do.He told Zakaria that Obama “has lost control of the [county’s ecnomic] agenda” and as a result it’s been left “in the hands of the Republican Party,” (via Bloomberg).

Though Soros thinks the GOP will be successful in its pursuit of cutting services and denying any tax increases, he thinks those developments will be deleterious to the nation’s fiscal health.

The GOP’s course will be “more directed at cutting services and achieving the ideological purposes of the Republicans rather than to get the economy going,” he said. The billionaire also told Zakaria he thinks interest rates are going to increase and “choke off the economic recovery.”

As for the Tea Party, Soros said the group is “decent” and “hard-working” but are being misled by Republicans who want to slash taxes and regulation for selfish reasons. “They are being used and deceived,” he said.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.