If there's a severe recession, the automatic stabilizers will come into effect, and we will still try to reduce the structural deficit, but we will not try to keep cutting the budget so that we keep worsening a severe recession.

They flooded liquidity in the marketplace but the mortgage rate is based much more on expectations of inflation. So if the average investor believes that there is inflation coming, they'll move that rate up.

Well, there are about 10 million children that aren't covered by health insurance. About 3 million qualify for Medicaid but don't get it, so we're going to reach out and bring more of those kids into the Medicaid program.

Right now we think that rates will stay low, that you'll be able to get a mortgage below seven percent and that's kicked off a refinance boom that's going to put more money in the pockets of consumers.

The automatic stabilizer is unemployment insurance, food stamps, additional coverage of Medicaid.

Well, I think the best form would be to put money directly in the pockets of consumers.

We think if the economy remains weak that we could see mortgage rates trail down and we think that we could see rates below seven percent into early next year.

We are shrinking the size of the federal government as a percent of our economy from over 21 percent of the economy to 19 percent of the economy. At the same time, we're growing the private economy.

If there's a severe recession, the automatic stabilizers will come into effect, and we will still try to reduce the structural deficit, but we will not try to keep cutting the budget so that we keep worsening a severe recession.

Well, now, and there's - for every dollar the federal government spends, there's real people on the other side, and so when we talk about reductions that are going to affect providers, that's going to affect hospitals and doctors and others.

Right now the long-term investors are telling us that they're not as concerned about inflation and so we're seeing these rates now move into the marketplace and out to the street - rates that individuals can get.

That is - the reason for that is that home prices are only going to go up. Now, they've never gone down nationwide in our - since we've been keeping track of this.

Well, you know, we've got a lot of stimulus in the economy already from the tax cut, from the lowered interest rates, and also from the refinancing of mortgages.

I think if you go beyond a year - if this continues into the system in the out years, I think there is a risk and that - that we could have a negative reaction in the bond market and that will offset the good that was attempted to be done.

So from the housing standpoint, steady as you go, I think, would be the best medicine.

Well, we're just now seeing the reductions in mortgage rates. The mortgage rates are based on the ten-year rate and the Fed controls the overnight or the shorter rates.

Well, I think as long as people are talking about stimulus, I think the Fed will be thinking about cutting rates because monetary policy is the better way to go because you can turn it on and turn it off.

And so we have to be careful with looking at additional stimulus that we don't provoke an increase in the bond rate and then offset a lot of the stimulus we've already got.

And so Fannie Mae produces very strong results for investors in - when interest rates are high and when interest rates are low, in recession and during booms.

And so the danger for the housing industry is if we see interest rates rise.

The present contains nothing more than the past, and what is found in the effect was already in the cause.

Bambi has a profound effect on children because it's about losing your mother.

To believe in a just law of cause and effect, carrying with it a punishment or a reward, is to believe in righteousness.

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.

The truth is, it's not a great career move to create a readership and then, in effect, abandon them.

I am for an art that takes into account the direct effect of the elements as they exist from day to day apart from representation.

Planets are too dim to be detected with existing equipment, far away, except in these very special circumstances where they're seen by their gravitational effect.

Well, in pharmacology, if the effect is local, it's of course absolutely awkward to use it in any other way than as a local treatment.

Writing songs has a therapeutic effect, and it either kills off love or wins the heart of the lover.

The good news was that Enterprise and the newly arrived Yorktown had attacked the Marshall and Gilbert islands. Those attacks had a great effect on morale.

Motherhood has a very humanizing effect. Everything gets reduced to essentials.

The Tax Code today is more complicated than ever, and the very people on the Republican side who denounce the Tax Code's complexity are the ones that put together what they now call a convoluted monstrosity. They put it into effect.

If the many allegations made to this date are true, then the burglars who broke into the headquarters of the Democratic National Committee at the Watergate were, in effect, breaking into the home of every citizen.

It would be great to take one city street and turn it into a pedestrian corridor and see what kind of effect it has on the businesses in that area - It's the future I think.

To enlarge or illustrate this power and effect of love is to set a candle in the sun.

The cause is hidden; the effect is visible to all.

Logic, like whiskey, loses its beneficial effect when taken in too large quantities.

The Vietnamese have a secret weapon. It's their willingness to die beyond our willingness to kill. In effect, they've been saying, You can kill us, but you'll have to kill a lot of us; you may have to kill all of us. And, thank heaven, we are not yet ready to do that.

The oppression of any people for opinion's sake has rarely had any other effect than to fix those opinions deeper, and render them more important.

In America you can say anything you want - as long as it doesn't have any effect.

Scientific men can hardly escape the charge of ignorance with regard to the precise effect of the impact of modern science upon the mode of living of the people and upon their civilisation.

It becomes a giant's task to compute the result when the effect of cross seas, wind at all angles and ever varying force, arched surfaces, head resistance, ratio of weight to area, and the intelligence of the guiding power crop up.

I am above the weakness of seeking to establish a sequence of cause and effect, between the disaster and the atrocity.

The question at the end of the day was, the courts having found there was no defense, a producer about to go to jail, should CBS in effect tell the producer go to jail even though there is no law at all that we can use to get you out of jail?

All we need is a meteorologist who has once been soaked to the skin without ill effect. No one can write knowingly of the weather who walks bent over on wet days.

Few speeches which have produced an electrical effect on an audience can bear the colourless photography of a printed record.

If you do things with a certain type of result and cause a certain type of reaction or effect, then you increase your market value. It's very much a competition for the entertainment dollar, and that's never been more clearly evident than in today's NBA game.

The automobile, both a cause and an effect of this decentralization, is ideally suited for our vast landscape and our generally confused and contrary commuting patterns.

As the cost of gasoline rises and our dependence on foreign oil continues to increase, the effect of sending over $100 billion each year to OPEC nations hurts every American.