Total borrowing has imploded. Private borrowing has collapsed. And, in effect, the Treasury Department is the last borrower left standing.

Well, I think what we need to remember is that budget deficits can impede economic activity.

Total borrowing has imploded. Private borrowing has collapsed. And, in effect, the Treasury Department is the last borrower left standing.

Something that's unsustainable, like a dysfunctional relationship, can go on longer than you expect, and then end faster and messier than you think.

My mom is a very warm, typical sort of Jewish-mother type. And my dad has a somewhat, um, different personality.

It is a foregone opportunity that we could have a trillion dollars more of income for the United States if we were producing at capacity rather than falling so far short of it.

Social Security faces a long-term actuarial deficit, yes.