A Quote by Bill Gross
It's going to be difficult to stimulate the real economy in the U.S. at a faster rate than 2 percent and perhaps even less if we have that fiscal cliff in December or January 2013.
Related Quotes
Under current law, on January 1, 2013, there's going to be a massive fiscal cliff of large spending cuts and tax increases.
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.
The federal prison population increased by almost 800 percent between 1980 and 2013, often at a far faster rate than the Bureau of Prisons could accommodate in their own facilities.
The Chinese economy is growing at the rate of 9 percent; the Indian economy growing at the rate of 8 percent - enormous I think opportunities for two-way flow of trade, technology and investment.
In 2013, Maryland had the second highest job creation rate of any state in the Mid Atlantic region - faster than both Pennsylvania and Virginia.
Even people on the liberal side are starting to worry about going off a fiscal cliff.
It is more important what the jobs report shows in December and January -- that will affect how many rate hikes we'll have this spring.
The world economy is in a nosedive, and understanding what I call "depression economics" - the weird world you get into when even a zero interest rate isn't low enough, and a messed-up financial system is dragging down the real economy - is essential if we're going to avoid the worst.
First, the oil and gas business pays its fair share of taxes. Despite the current debate on energy taxes, few businesses pay more in taxes than oil and gas companies. The worldwide effective tax rate for our industry in 2010 was 40 percent. That's higher than the U.S. statutory rate of 35 percent and the rate for manufacturers of 26.5 percent.
Ten percent of American businesses disappear every year. ... It's far higher than the failure rate of, say, Americans. Ten percent of Americans don't disappear every year. Which leads us to conclude American businesses fail faster than Americans, and therefore American businesses are evolving faster than Americans.
Ninety-nine percent of everyday things are things we don't need - that goes for regular visits to the hairdresser just as it does for clothing. What would it mean if we all consumed 20 percent less? It would be catastrophic. It would mean 20 percent less jobs, 20 percent less taxes, 20 percent less money for schools, doctors, roads. The global economy would collapse.
I'm going to create tremendous jobs. And we're bringing GDP from, really, 1 percent, which is what it is now, and if Hillary Clinton got in, it will be less than zero. But we're bringing it from 1 percent up to 4 percent. And I actually think we can go higher than 4 percent. I think you can go to 5 percent or 6 percent.
When Indian economy was growing at the rate of 8 to 9 percent, I think everybody was quite happy. Even when there were defects in our policies, they were overlooked, and when the economy slows down, people try to find fault and excuses.
From January to December of 2019, I crumbled, to be real, and I think by the end of 2019 I had beaten myself up in every possible way to the point where I wasn't even a person. I was fully at rock bottom.
We are shrinking the size of the federal government as a percent of our economy from over 21 percent of the economy to 19 percent of the economy. At the same time, we're growing the private economy.
Even Doctors Without Borders in West Africa are moving the fatality rate from 50 percent down to 30 percent-I bet we can do substantially better than that here.
Related Authors
Bill Gates Quotes
American
Businessman
Charlie Munger Quotes
American
Businessman
Dieter F. Uchtdorf Quotes
German
Businessman
Henry Ford Quotes
American
Businessman
Jim Rohn Quotes
American
Businessman
Joseph B. Wirthlin Quotes
American
Businessman
Mark Cuban Quotes
American
Businessman
Mark Zuckerberg Quotes
American
Businessman
Peter Drucker Quotes
American
Businessman
Richard Branson Quotes
British
Businessman
Russell Simmons Quotes
American
Businessman
Sam Altman Quotes
American
Businessman
Steve Jobs Quotes
American
Businessman
Tom Peters Quotes
American
Businessman
Walt Disney Quotes
American
Businessman
Warren Buffett Quotes
American
Businessman