Economics is not a morality play.

Tax cuts were not going to be effective at creating jobs, and the job creation record is lousy.

The goal in the end is not to win elections. The goal is to change society.

Middle-class societies don't emerge automatically as an economy matures, they have to be CREATED through political action.

The United States in particular and the West in general should be feeling a little embarrassed about all that lecturing we did to the Third World.

Consumer spending is now plunging at serious-recession rate ... even if the rescue now in train succeeds in unfreezing credit markets, the real economy has immense downward momentum. In addition to financial rescues, we need major stimulus programs.

We know that advanced economies with stable governments that borrow in their own currency are capable of running up very high levels of debt without crisis.