In a very weak economy, when you say 'cut government spending,' what you mean is you're laying off school teachers and you're de-funding various programs that put money into the economy. This means you have more unemployed people that then draw unemployment benefits and don't pay taxes.
Fareed Zakaria
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More quotes by Fareed Zakaria
- Americans have so far put up with inequality because they felt they could change their status. They didn't mind others being rich, as long as they had a path to move up as well. The American Dream is all about social mobility in a sense - the idea that anyone can make it.
- The technological revolution at home makes it much easier for computers to do our work.
- America's growth historically has been fueled mostly by investment, education, productivity, innovation and immigration. The one thing that doesn't seem to have anything to do with America's growth rate is a brutal work schedule.
- I enjoy writing but I much prefer the experience of having written.
- Having your fiscal house in order and having a more manageable macro-economic future is going to be very useful in creating growth.