A bunch of problems that we have ahead of us are largely because of these tax cuts. They are very costly and will contribute significantly to budget deficits in the future.
More Quotes from Mark Zandi:
I think they will tighten, but there is a much higher level of uncertainty regarding this decision than at any one since they started over a year ago.Mark Zandi
Of the 2.7 million jobs lost since employment's peak, roughly a third have been lost to overseas competition, and most if not all of those jobs are not coming back, ... And that trend is going to continue.
Mark Zandi
Confidence is a key part of what's happening in the economy and the market. You shouldn't underestimate the importance of symbolic moves like these.
Mark Zandi
Housing, the strongest part of the economy, is still booming, and manufacturing, the weakest part, should gain strength in coming months. Put it all together and it paints a pretty economic picture of solid growth and low inflation.
Mark Zandi
You have to go back 25 years to find a decline that is as significant on a percentage basis.
Mark Zandi
Given the crosscurrents in the economic inflation data, it will be difficult for him to be clear-cut.
Mark Zandi
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