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.

If you go to India the roads are being built almost entirely with private sector money and by the private sector. If you look at many, many countries in Europe that's how they're doing it.

The markets are much more interested in America's long-term trajectory than they are in feeling that there is an acute short-term crisis.

Fareed Zakaria Quotes