, Chairman and CEO of Wynn Resorts is sounding off about “Occupy Wall Street.”
During a recent corporate conference call, Wynn referenced the ongoing movement saying Americans are finally waking up to the specter of long-term debt hanging over the collective head of the country.
“What you do have on Wall Street is a reflection, a real reflection in my opinion, of the anxiety, the insecurity and the fear that is endemic in the United States of America about the way government has gotten into the business of managing its life and the ability of the government to manage the economy intelligently by increasing the emphasis in government spending rationally … to the point that we want … everybody’s financial security.”
Wynn continued, telling analysts that, unlike many protestors, he doesn’t blame Wall Street and the banks for what’s wrong. He blames deficit spending.
“I am watching my employees’ standard of living drop because of deficits.”
Wynn says even though he’s given his U.S. workers two cost of living increases, “people working for me are being paid in 80-cent dollars, on their way to 70-cent dollars…the net result of all this is frustration, anxiety and anger.”
The self-professed Democrat closed up by saying that the “Occupy” movement reveals the growing anger and dissatisfaction of over the government and that it is only going to get worse.
“You cannot sustain these deficits. You cannot undercut the people that create the jobs…the Democratic agenda of spend and bribe the public is bankrupting this country, and until it stops, the citizens of this country are in for more hard times.”
This theme is nothing new for Wynn, who has been a constant, and vocal, critic of the nation’s government.
On a conference call earlier this July, the casino executive called the Obama administration “the greatest wet blanket to business, and progress and job creation in my lifetime.” He added at that time: “I’m telling you that the business community in this country is frightened to death of the weird political philosophy of the President of the United States. And until he’s gone, everybody’s going to be sitting on their thumbs.”
To hear Steve Wynn’s full rant on Occupy Wall Street and during his Q3 earnings call, skip to the 45 minute mark in the audio clip below: