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.

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.

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

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.

What better way to get to know a culture than to go there and learn their sports? And I say to people who tell me they can't travel, 'How much did you spend at the mall this year? How many times did you eat out? Take that money and go.'

Once Wall Street starts putting money into Bitcoin - we're talking about hundreds of millions, billions of dollars moving in - it's going to have a pretty dramatic effect on the price.

Money is great, but it doesn't make your husband stay at home with you.

The concentration of U.S. income and wealth in the hands of the very rich is a new development in my lifetime.