We're committed to working with Congress to doing what the president said he was always going to do, which is cut the deficit in half over the - over his first term.

Our estimates suggest that a tax increase of 1 percent of GDP reduces output over the next three years by nearly 3 percent. The effect is highly significant.

What we're going to do is redouble our efforts on financial regulatory reform, because that has in it sensible things like say on pay, so at least the shareholders are minding the store, sensible things like saying, for heaven's sakes, compensation should be focused on - on long term, so that you don't have rewards for short-term risk-taking.

We're committed to working with Congress to doing what the president said he was always going to do, which is cut the deficit in half over the - over his first term.

Tax increases appear to have a very large sustained and highly significant negative impact on output.

I think where I differ a little bit, we absolutely have to think about the deficit looking down the road. And certainly that's something the president has said that we need to, as the economy recovers, have a plan in place for getting it down.

You know, I think the, the crucial thing, you know, we have put in place what is, is just simply the biggest, boldest recovery package in history, right; the stimulus package, biggest ever; the financial rescue, absolutely comprehensive; a housing plan - that is incredible medicine for the economy. And we fully expect it to work.

The goal of long-run economic growth without asset price bubbles is not only achievable, but is something we should expect if we put a sound regulatory framework in place and if policymakers remain vigilant.

If you look at the studies coming out of the Congressional Budget Office, the number one thing that's going to blow a hole in the deficit as we go forward 20, 30 years is government spending on healthcare.

Where we're coming down is we currently have $787 billion of stimulus that's been passed. We're certainly focusing on spending that money as quickly and as efficiently and as transparently as we can. We think that's absolutely the right strategy.

A natural way that an economist approaches a problem is to say, here's where I think the economy is going; this is what we need to deal with the problem.

A successful argument for a government manufacturing policy has to go beyond the feeling that it's better to produce 'real things' than services. American consumers value health care and haircuts as much as washing machines and hair dryers.

As a former member of President Obama's economic team, I have a soft spot for the fiscal stimulus legislation he signed just a month after his inauguration.

Cold-turkey deficit reduction would cause a significant recession. A recent analysis by the Congressional Budget Office estimated that going headlong over the cliff would cause our gross domestic product, which has been growing at an annual rate of around 2 percent, to fall at a rate of 2.9 percent in the first half of 2013.

I think something that forces financial institutions to write down underwater mortgages, I think, would be a sensible thing to do.

If every other store in town is paying workers $9 an hour, one offering $8 will find it hard to hire anyone - perhaps not when unemployment is high, but certainly in normal times. Robust competition is a powerful force helping to ensure that workers are paid what they contribute to their employers' bottom lines.

If you think about it, candidate Obama, Sen. Obama, was running on sort of long-run economic issues, like restoring prosperity to the middle class, dealing with the perennial problem of health care in the United States. He talked a lot about the budget deficit, about the need to transition to clean energy.

Many of my students assume that government protection is the only thing ensuring decent wages for most American workers. But basic economics shows that competition between employers for workers can be very effective at preventing businesses from misbehaving.

Most arguments for instituting or raising a minimum wage are based on fairness and redistribution. Even if workers are getting a competitive wage, many of us are deeply disturbed that some hard-working families still have very little.

Raising the minimum wage, as President Obama proposed in his State of the Union address, tends to be more popular with the general public than with economists.

Recent research suggests that New Deal programs may actually have had their primary impact on the economy by influencing consumer and business expectations of future growth and inflation.

Recovery measures work better when they raise confidence - as Franklin D. Roosevelt understood. His fireside chats, and his inaugural address proclaiming he would fight the Great Depression with the same resolve he would muster against a foreign foe, were aimed at reassuring Americans.

The basic idea that if you increase government spending or you cut people's taxes that stimulates the economy and lowers the unemployment rate, is a very widely accepted idea. It's in every economics textbook, that's what we teach our undergraduates, and I certainly try to teach them the truth.

The most effective way to shake an economy out of a terrible downturn when we're at the zero lower bound is an aggressive change in policy that makes people wake up, say 'this is a new day' and change their expectations.

The right way to deal with a budget problem that was years in the making is by formulating a credible plan to reduce the deficit over time and as the economy is able to withstand the necessary fiscal belt-tightening. That is what President Obama is doing.

The stimulus legislation, technically known as the American Recovery and Reinvestment Act of 2009, was a mixture of tax cuts for families and businesses; increased transfer payments, like unemployment insurance; and increased direct government spending, like infrastructure investment.

The stock market crash in October 1929 didn't destroy a particularly large amount of wealth or make people highly pessimistic. Rather, it made companies and consumers very unsure about future income, and so led them to stop spending as they waited for more information.

All we're getting from the Democratic majority in Congress and from this White House is more bailouts, more spending, more planned stimulus, more deficits and debt, and the American people have had it.

But the Congress has made the determination that certain kinds of information can be protected even though the American people may want to have access to information.

Promoting job creation and economic growth in the Hudson Valley is one of my top priorities in Congress.

Copyrights have not expired, and will not expire, so long as Congress is free to be bought to extend them again.

The arts are an even better barometer of what is happening in our world than the stock market or the debates in congress.

I have seen the times when the grassroots has moved the Congress. We listen way more often to our constituents than the lobbyists. And the grassroots are going to have to do it.

We in this Congress have a choice. The American people have a right to exercise a choice on this issue, as to whether our men and women will continue to fight and die in a war based on deception and fantasy, or to start bringing the troops home.

While Kuwait is not a democracy, giving only half the population a voice in their government is not a policy this Congress should support and one that I am glad that Kuwait's leaders are changing.

This country has come to feel the same when Congress is in session as when the baby gets hold of a hammer.

The decision to go to war is the most important decision that I can make as a representative in Congress. As a veteran, I see any potential military action first through the eyes of the young men and women who volunteered to wear the uniform and would carry out such a mission.

In 2001, Congress passed much needed tax relief to allow Americans to keep more of their hard earned money and spend it as they see fit - rather than how the federal government sees fit.

The Middle East is literally going up in flames, as is California, and Katrina's problems haven't been solved, and Congress' response is to criticize Federal judges.

We have seen that, in another unfunded mandate, the so-called No Child Left Behind Act, which created tougher standards, and we all support that, but Congress did not provide the money to attract and hire the best teachers.

Obama's health care plan will be written by a committee whose head, John Conyers, says he doesn't understand it. It'll be passed by Congress that has not read it, signed by a president who smokes, funded by a Treasury chief who didn't pay his taxes, overseen by a Surgeon General who is obese, and financed by a country that's nearly broke. What could possibly go wrong?

Congress will pass a law restricting public comment on the Internet to individuals who have spent a minimum of one hour actually accomplishing a specific task while on line.

It is time for Congress to provide relief for tobacco farmers. Since the 1930's tobacco production has been regulated by a quota system, which required farmers to purchase quota in order to grow tobacco.

Congress should be forward thinking in the policies we set, instead of waiting until catastrophe looms.

Many hard comments have been made on my efforts in India from the side of the Congress party, yet I feel content in the deep conviction that the offer I traveled 22,000 miles to discuss with Indian leaders was a real contribution to a solution of our differences.

Well, it's not a pleasant experience. And it's a terribly political process, because that thing was initiated by the Congress and by, you know, our adversaries in the Congress.

I think it's a lovely idea, but it will not pass the Congress. I live in a world of realities. The policy of our country is that we can drill our way to independence. I think that's a march to folly.

Well I think that what we're seeing now is that the people feel like they, the people in Congress don't have their consent to govern them. They keep doing things that are incredibly unpopular. And so when that happens, folks get angry.

I have also come to understand Congress' need for a bipartisan as well as a partisan capacity.