The Real Deal Miami

Zell talks tough on federal spending

June 29, 2010 05:30PM


Real estate mogul Sam Zell has some choice words for federal spending — namely, that it should be slashed. The chairman of Equity Group Investments compared U.S. government spending to that of pre-collapse ancient Rome, when citizens demanded “more entitlements, more entitlements, more entitlements, until there was no more.” In particular, Zell pointed to government salaries and benefits, which he said have become bloated and burdensome, “literally bankrupting the states.” [CNBC]