“Billionaire investor Ken Langone warns that the United States faces “hardcore unemployment” as high as 13 percent because President Barack Obama’s “punitive” view of business is dividing the country by punishing those who work hard and succeed with excess regulations.
The Home Depot co-founder told CNBC he is “bothered by the fact that we aren’t creating a massive number of jobs in America. I think we are going to have a hardcore unemployment in America, and what do you do about that?”
Langone says the unemployment rate is higher than the official figure of 8.3 percent because of the many people who have given up looking. If those people were included, the unemployment rate could be as high as 13 percent, he said….”
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