Thor Equities’ Joseph Sitt predicts Donald Trump will be able to pull off a major infrastructure spending plan because — unlike President Obama — he has Congress on his side. “We don’t have a president, we have a king,” Sitt told Bloomberg.
“He won’t have the bottlenecks along the way” because he will have the Senate and House of Representatives on his side for at least two years, Sitt argued. “And so he’s got a window of opportunity to really make things happen.”
Sitt claimed that not spending more on infrastructure seven years ago as a post-recession economic stimulus was a lost opportunity and that many developing countries now have more advanced transportation systems than the U.S.
Still, he dismissed the suggestion that now is the wrong time to spend big. “Don’t tell him slow down. Tell him go for it,” he said. [Bloomberg] — Konrad Putzier