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.

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.

In the four decades after World War II, manufacturing jobs paid more than other jobs for given skills. But that is much less true today. Increased international competition has forced American manufacturers to reduce costs. As a result, the pay premium for low-skilled workers in manufacturing is smaller than it once was.

I don't want to have anyone else as Prime Minister other than David Cameron, and if people spend their time thinking about some of this stuff, then they are getting in the way of two things: one, a fair, open, fact-based referendum debate; and two, the Conservative government continuing afterwards in a stable and secure fashion.

Now, mark it. This may be strong language, but heed it. The people mean it, and, my friends of the Eastern Democracy, we bid farewell when you do that thing.

Let me reassure that the Kingdom of Cambodia a country with independence, neutrality, peace, freedom, democracy and human rights as you all have seen, shall be existing with no end.

Hollywood has a history of raising expectations beyond Washington's reach, of appealing to the very American desire to mythologize political leaders, particularly the president.