Michael Johnston: “When you have 5, 7, 8% growth every year, it's easy to think…”

“We'll try to do those together. And we know there were good reasons to invest in a lot of the growth we've seen over the last 10 or 12 years. When you have 5, 7, 8% growth every year, it's easy to think that you keep growing. But I think what we found is if you look at a lot of these years, there were 17, 18, 19 already those years were running deficits, but the result …” (37:39–37:44)

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