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.

If you look at the studies coming out of the Congressional Budget Office, the number one thing that's going to blow a hole in the deficit as we go forward 20, 30 years is government spending on healthcare.

Tax increases appear to have a very large sustained and highly significant negative impact on output.

The stock market crash in October 1929 didn't destroy a particularly large amount of wealth or make people highly pessimistic. Rather, it made companies and consumers very unsure about future income, and so led them to stop spending as they waited for more information.

One of the biggest challenges facing the globe is the gap that exists in the wealth and standards of living enjoyed by the world's nations.

What I don't want to see is our political system corrupted by gambling money, especially casino gambling money.

I am totally in line with the fact that I think wealth distribution for carmakers needs to be redimensioned to allow labor to take a piece of that wealth distribution.

My mother and I were on welfare and food stamps until I was 18, so I've always had this ethos of, like, 'try and make a little bit of money now because you don't know what's going to happen tomorrow.'