A Quote by Robert Pollin

For any economy, there are two basic factors determining how many jobs are available at any given time. The first is the overall level of activity - with GDP as a rough, if inadequate measure of overall activity - and the second is what share of GDP goes to hiring people into jobs. In terms of our current situation, after the Great Recession hit in full in 2008, US GDP has grown at an anemic average rate of 1.3 percent per year, as opposed to the historic average rate from 1950 until 2007 of 3.3 percent.

Robert Pollin

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Activity After Any Available Average Basic Current Current Situation Economy Factors First Full Gdp Given Goes Great Great Recession Grown Hiring Historic Hit How Inadequate Jobs Level Many Measure Opposed Our Overall People Per Percent Rate Recession Rough Second Share Situation Terms Time Two Until Us Year

Quote Author

Robert Pollin
American - Economist
Born: September 29, 1950

From 1950 to 2000, the U.S. economy grew at an average rate of 3.5 percent. That generated a massive gain in real GDP per person from $16,000 to over $50,000. A huge win for the middle class.

Lawrence Kudlow

If I can save 25 billion dollars in terms of reduction of import, I will be adding one percent to the GDP. By conserving the oil energy by the people, the GDP will become 5.5 percent, and this will change the economy of the country.

Veerappa Moily

Six percent, 5 percent of our GDP for him [Vladimir Putin] to match us, he has to spend 25 percent of his GDP and it will bankrupt his country.

Rudy Giuliani

If you are moving the informal economy into the formal economy, and if the transactions which for years were never reported as part of GDP are now transacted through banking channels, it will only add to the GDP, not reduce the GDP.

Piyush Goyal

In Washington State, the immigrant population has grown by 42 percent in the five years between 2000 and 2005 - which is an increase from 8 percent to 10.6 percent of the overall population - and the jobless rate in the state has hit a 6 year low.

Dave Reichert

According to the IRS, the wealthiest 400 Americans, who earned an average of roughly $270 million in 2008, paid an average tax rate of just 18.2 percent that year. That's about the same rate paid by a single truck driver in Rhode Island. It's not right, and we need to restore fairness to our tax code.

Sheldon Whitehouse

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.

Donald Trump

Government is taking 40 percent of the GDP. And that's at the state, local and federal level. President Obama has taken government spending at the federal level from 20 percent to 25 percent. Look, at some point, you cease being a free economy, and you become a government economy. And we've got to stop that.

Mitt Romney

If your credit is going to grow at 10-15 percent per year in order to get your 5 percent GDP growth per year, eventually you're going to have a problem. This isn't a stable system.

Adair Turner, Baron Turner of Ecchinswell

A possibility is that we see more and more leverage, and credit-to-GDP ratios rise once more to even higher levels; eventually the banking systems of all advanced economies reach magnitudes of 500 percent, 1000 percent or more of GDP, so that every economy starts to have financial systems that resemble recent cases like Switzerland, Ireland, Iceland, or Cyprus. That might be a very fragile world to live in.

Alan M. Taylor

The growth of the American food industry will always bump up against this troublesome biological fact: Try as we might, each of us can only eat about fifteen hundred pounds of food a year. Unlike many other products - CDs, say, or shoes - there's a natural limit to how much food we each can consume without exploding. What this means for the food industry is that its natural rate of growth is somewhere around 1 percent per year - 1 percent being the annual growth rate of American population. The problem is that [the industry] won't tolerate such an anemic rate of growth.

Michael Pollan

Britain is a textbook case of how growing inequality leads to economic crisis. The years before the crash were marked by a sharp rise in remortgaging and the growth of 0 percent balance transfer credit cards. By 2008 the UK had the highest ratio of household debt to GDP of any major economy.

Frances O'Grady

Today's market action is driven by the slower GDP growth rate. Despite oil being higher, I think the GDP kind of overruled everything and just makes the market feel better about what the Fed is going to do, or rather not do.

L'Wren Scott

We wanted to preserve as many jobs as possible, so when our sales continued to decline in August 2008, we did about a 5 percent reduction of our global staff. But in order not to cut any more jobs, we froze everybody's pay and put a hiring freeze on.

John Mackey

The political establishment has brought about the destruction of our factories, and our jobs, as they flee to Mexico, China and other countries all around the world. Our just-announced job numbers are anemic. Our gross domestic product, or GDP, is barely above 1 percent. And going down. Workers in the United States are making less than they were almost 20 years ago, and yet they are working harder.

Donald Trump

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.

John S. Watson

A Quote by Robert Pollin

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