Joe Kernen (CNBC) and his Private Sector Dreamland

This morning I was watching one of CNBC’s Squawk Box episodes where Joe Kernen (a co-host, nicknamed "The Kahuna" or such) was trying to debate with Mohamed El-Erian the merits of private sector vs. public sector when it came to capital investment effectiveness. This particular episode has to do with Mohamed El-Erian's view that the US had better take 3 actions soon to avoid recession, of which