“The discussion in Washington has changed dramatically. I mean, it's no longer a question of should we address entitlements - it's no longer a question of do we need to reduce spending in the future.”
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Past experience with fiscal austerity at home and overseas strongly suggests that it is best for the economy's long-run performance to restrain government spending rather than raise taxes.
In the fourth grade, my history teacher gave us a project: Why was the auto industry located in Detroit, Michigan? I didn't know I was going to be an economist, but I knew I was going to do something that was involved in answering questions like that one because I thought that was a fascinating question.
The FHA's success provides strong evidence that government can and should play a role in the nation's mortgage finance system. It also demonstrates that although government intervention in the economy during the Great Recession was messy, things would have been a lot messier without it.
I only have two things in my life, my family and work. If there's any time left over, then I play sports.
