A Quote by Warren Buffett
We've used up a lot of bullets. And we talk about stimulus. But the truth is, we're running a federal deficit that's 9 percent of GDP. That is stimulative as all get out. It's more stimulative than any policy we've followed since World War II.
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The world doesn't just revolve around you. There's a lot of talk in this country about the federal deficit. But I think we should talk more about our empathy deficit.
I never liked quantitative easing. It's misunderstood by almost everybody. Flattening the yield curve is not stimulative; flattening the yield curve is anti-stimulative.
We are spending more as a percentage of our entire economy, almost 25 percent, than we have spent at any time since the end of World War II.
In an all-out nuclear war, more destructive power than in all of World War II would be unleashed every second during the long afternoon it would take for all the missiles and bombs to fall. A World War II every second-more people killed in the first few hours than all the wars of history put together. The survivors, if any, would live in despair amid the poisoned ruins of a civilization that had committed suicide.
After almost 50 years in which federal spending averaged about 20 percent of GDP, Joe Sestak and Nancy Pelosi took federal spending to 25 percent. You know, that's a 25 percent increase in the size of the government overnight. That's what we - that's what we've got to rein in.
How can you raise the level of consciousness on this? How can you get the federal government to take the responsibility? Florida does not have a foreign policy. This is a federal policy or absence of federal policy. It's so clear that we're not being treated fairly. We have to come up with a solution. It hurts your head trying to figure out what to do.
I don't think my generation carries the weight of World War II anymore. But I've got to tell you, even if we don't really talk about it, we get reminded constantly by other people or other countries. I get offered a World War II movie at least once a week just because I speak German and was born there. I have always stayed away from it because I didn't want to be put into that box.
Republicans favor tax cuts for the wealthy and corporations, but these had no stimulative effect during the George W. Bush administration, and there is no reason to believe that more of them will have any today. As for the idea that cutting regulations will lead to significant job growth, it's just nonsense. It's just made up.
The greatest crime since World War II has been U.S. foreign policy.
Forests are breaking out all over America. New England has more forests since the Civil War. In 1880, New York State was only 25 percent forested. Today it is more than 66 percent. In 1850, Vermont was only 35 percent forested. Now it's 76 percent forested and rising. In the south, more land is covered by forest than at any time in the last century. In 1936 a study found that 80 percent of piedmont Georgia was without trees. Today nearly 70 percent of the state is forested. In the last decade alone, America has added more than 10 million acres of forestland.
I could end the deficit in 5 minutes. You just pass a law that says that anytime there is a deficit of more than 3% of GDP all sitting members of congress are ineligible for reelection.
At the beginning of World War II the U.S. had a mere 600 or so first-class fighting aircraft. We rapidly overcame this short supply by turning out more than 90,000 planes a year. The question at the start of World War II was: Do we have enough funds to produce the required implements of war? The answer was No, we did not have enough money, nor did we have enough gold; but we did have more than enough resources. It was the available resources that enabled the US to achieve the high production and efficiency required to win the war. Unfortunately this is only considered in times of war.
However, there is a fundamental difference between the issue related to Japan's history and our negotiations with China. What is it all about? The Japanese issue resulted from World War II and is stipulated in the international instruments on the outcomes of World War II, while our discussions on border issues with our Chinese counterparts have nothing to do with World War II or any other military conflicts. This is the first, or rather, I should say, the second point.
The first casualty in any war is the truth. In World War II, I was part of a group of people who used to meet once a week with the sole purpose of analyzing the news and trying to work out what we weren't being told. We thought that we were clever, but we had absolutely no idea what was really going on. It was only years later that we learned the true story.
Of all government expenditures, defense spending is the... most stimulative to the economy.
The truth is that people - many people are concerned about this, but this is not the first time in America this has happened. There were a significant number of people who didn`t want Jewish refugees before World War II, or even during World War II.
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