[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.

I'm a better economist than I was a sax player.

Productivity is notoriously difficult to predict.

If I say something which you understand fully in this regard, I probably made a mistake.

This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets. Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.

Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.

And whatever their publicized angst over Saddam Hussein's 'weapons of mass destruction,' American and British authorities were also concerned about violence in an area that harbors a resource indispensable for the functioning of the word economy. I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.