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In fact, I think - our view of this is that while the agreement, the compromise did not achieve the kind of super-sized deficit reduction that we sought, it did end the uncertainty around the perception, the possibility that the United States might default on its obligations for its first time. That was a good thing.
Well, as I said, you know the issue of Greek debt, they've grasped the principle of debt reduction. I think most people would argue that probably more needs to be done on that front, and they've just begun to take the first steps to accepting that there's going to have to be much closer economic integration in Europe.
Cold-turkey deficit reduction would cause a significant recession. A recent analysis by the Congressional Budget Office estimated that going headlong over the cliff would cause our gross domestic product, which has been growing at an annual rate of around 2 percent, to fall at a rate of 2.9 percent in the first half of 2013.
In some ways, I feel like the strength of animation is in its simplicity and caricature, and in reduction. It's like an Al Hirschfeld caricature, where he'll use, like, three lines, and he'll capture the likeness of someone so strongly that it looks more like them than a photograph. I think animation has that same power of reduction.
I am much less concerned with whatever it is technology may be doing to people that what people are choosing to do to one another through technology. Facebook's reduction of people to predictively modeled profiles and investment banking's convolution of the marketplace into an algorithmic battleground were not the choices of machines.
My point is cutting spending shouldn't be reliant on the debt limit though. It's something we have to do. The good news for America is, leaders in both parties, the president, believe that we have to have significant deficit reduction. So the intent is there. And I think what America is going to demand is that our leaders come together.
We believe it is essential to establish federal emission reduction targets that can vary by state or region with policy flexibility for states to design solutions that work for their unique circumstances. Such targets would level the playing field and send a clear signal to business and industry as we transition to a clean energy economy.
We're going to need to absorb some pain. The Republicans want to pile all the pain on people who can least afford it and the middle class and Democrats under his leadership want to make sure that we can address deficit reduction and continue to make investments and shared sacrifice is going to be imperative in order to be able to do that.
You could think of the galaxy as a sort of stove with lots of pots on it, and the pots are the interstellar medium, like a chicken broth getting stronger with every reduction. Every time a supernova goes off and sends its heavy elements out into the interstellar medium, we cook up a stew that's better and better for solar systems and life.
I have never articulated a specific number, but I think a nation as great as we are, that professes to favor freedom and liberty, that we would find a way to evidence that in our criminal justice system by achieving what we know we can achieve: a reduction in crime, a reduction in taxpayer expense, and a reduction in the prison population.
A research group found that 56 percent of major companies surveyed in the late '80s agreed that 'employees who are loyal to the company and further its business goals deserve an assurance of continued employment.' A decade later, only 6 percent agreed. It was in the '90s that companies started weeding people out as a form of cost reduction.