Warren Buffett on Gross Domestic Product

“I just think that - when a country needs more income and we do, we're only taking in 15 percent of GDP, I mean, that - that - when a country needs more income, they should get it from the people that have it.”

“But, but I mean, we've used up a lot of bullets. And we talk about stimulus. But the truth is, we're running a federal deficit that's nine percent of GDP. That is stimulative as all get out. I mean, that is more stimulative than any policy we've followed since World War II.”

“I define it, I think we're in a recession until real per capita GDP gets back up to where it was before. That is not the way the National Bureau of Economic Research measures it. But I will tell you that to any, on any common sense definition, the average American is below where he was before, or his family, in terms of real income, GDP. We're still in a recession. And, and we're not gonna be out of it for awhile, but we will get out of it.”