“Cold-turkey deficit reduction would cause a significant recession. A recent analysis by the Congressional Budget Office estimated that going headlong over the cliff would cause our gross domestic product, which has been growing at an annual rate of around 2 percent, to fall at a rate of 2.9 percent in the first half of 2013.” FirstsHas BeensFallCausesHalfGrowingProductsColdOfficePercentRateSignificantBudgetsAnalysisGrossDeficitTurkeysCliffsReductionRecessionsAnnualsGross Domestic ProductCold Turkey Author:Christina Romer
“Today, you have 20 percent of the world controlling 80 percent of the Gross Domestic Product; you've got a $30 trillion (US) world economy, and $24 trillion of it is in the developed countries... These inequities can't exist. So if you are talking about systemic breakdown, I think you have to look in terms of social breakdown.” IfsThinkingWorldLooksCountryTodaySocialTermTalkingEconomyProductsPercentCapitalismGrossBreakdownWorld EconomyDeveloped CountryGross Domestic Product Author:James Wolfensohn
“I suspect that Donald Trump is going to be very tough with those countries that don't spend at least 2 percent of their gross domestic product on defense. He will ask them why should we allow a free-ride policy.” ShouldCountryAsksPolicyProductsTrumpPercentToughDefenseSuspectsGrossGross Domestic Product Author:Newt Gingrich
“Some people say Russia is running at 50 percent of its gross domestic product under that during the Communist period. In fact, none of the countries seems to have recovered the level that they had under communism, although the other countries in Eastern Europe are doing better than Russia and particularly the Czech Republic seems to be doing modestly well. East Germany I can't count because they have a rich uncle. You have economic benefits which have nothing to do with the workings of the system.” PeopleWellsI CanCountryFactsSeemsRunningLevelsRichEconomicProductsPeriodsBenefitsPercentEuropeEastRussiaCommunismGermanyRepublicCommunistOther CountriesUnclesEasternGrossEastern EuropeCzechEast GermanyGross Domestic ProductCzech Republic Author:Kenneth Arrow
“I just think that - when a country needs more income and we do, we're only taking in 15 percent of GDP, I mean, that - that - when a country needs more income, they should get it from the people that have it.” PeopleThinkingNeedsShouldMeanCountryPercentIncomeGdpGross Domestic Product Author:Warren Buffett