Kiss might have a sold-out concert tour right now, but the U.S.’s $18 trillion debt problem is what’s on the mind of front man Gene Simmons.
He told FOX Business Network’s Maria Bartiromo “America not too long ago had a balanced budget, it is possible to do that--but we’re fat and bloated.”
Simmons thinks one way to restore job growth is through fracking and the oil and gas industry.
“I like what’s happening in oil and gas… I’m told we are the world’s number one supplier, we just beat the Russians, but that includes ‘friendly fracking’-- I think we should use a different word. two and a half million jobs have been created because [somehow] we are allowed to dig for oil and gas through rock and get it out there… Let’s improve the science, let’s make the environmental people more happy-- but let’s get out of Mideast oil, they don’t like us,” he said.
He’s also concerned that we might be passing the debt down to future generations.
“We’ve got $18 trillion in debt, so the Dow hovering around 18 thousand and job growth seems to be going up – that doesn’t negate the fact that our children and children’s-children are going to be caught with this looming debt unless we do something every day the dollars’ worth is going up more and more” he said.
With an estimated net worth of $300 million, Simmons said he is putting his money to work in companies like Coke (NYSE:KO) and McDonald’s (NYSE:MCD).
“I believe in America. I believe in biotech…health…food because we all need that stuff to get by, and real estate of course.”