Irony

As the one-year anniversary of Tribune Co.'s Chapter 11 bankruptcy filing approaches, company owner Sam Zell has some advice for the government about debt.

From CNBC:

The US government will have to cut down on borrowing by giving up on some publicly-financed programs or face inflation in one or two years, Sam Zell, chairman of Equity Group Investment, told CNBC Tuesday.

"I do believe that the current administration is insensitive to the risks of the scale of debt we're creating," Zell told "Squawk Box."

If things do not change, it is "very hard to imagine" that the US is not going to be confronted with inflation in one or two years, he said.