In the 1990s, we were certain that Saddam Hussein had a nuclear arsenal. In fact, his factories could barely make soap.
Fareed ZakariaThe American consumer, even today, the weight of the American consumer in the global economy is China plus India doubled. So, it's tough to replace that.
Fareed ZakariaIn 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.
Fareed Zakaria