[The US] budget is dominated by the retirement programs, Social Security and Medicare - loosely speaking, the post-cold-war federal government is a big pension fund that also happens to have an army.

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

There are no atheists in foxholes and there are no libertarians in financial crises.

Wealthy individuals bought themselves a radical right party, believing - correctly - that it would cut their taxes and remove regulations, but failed to realize that eventually the craziness would take on a life of its own, and that the monster they created would turn on its creators as well as the little people.

Generous unemployment benefits can increase both structural and frictional unemployment. So government policies intended to help workers can have the undesirable side effect of raising the natural rate of unemployment.

Evidence and expertise have a well-known liberal bias.

[The US] budget is dominated by the retirement programs, Social Security and Medicare - loosely speaking, the post-cold-war federal government is a big pension fund that also happens to have an army.