If you didn't auction the [CO2] permits, it would represent the largest corporate welfare program that has ever been enacted in the history of the United States. All of the evidence is that what would occur is that corporate profits would increase by approximately the value of the permits.
Peter R. OrszagThere've been times where I wondered whether it was worth continuing in my own education.
Peter R. OrszagWell, a deficit reflects an imbalance between spending and revenue, and so narrowing it requires acting on one, the other or both.
Peter R. Orszag