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.
Fareed ZakariaHaving your fiscal house in order and having a more manageable macro-economic future is going to be very useful in creating growth.
Fareed ZakariaMy friends all say Iโm going to be Secretary of State, [but] I donโt see how that would be much different from the job I have now
Fareed Zakaria