Austan Goolsbee Quotes
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I don't see why anybody's playing chicken with the debt ceiling.
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I was always a data guy, not a theorist. Theorists can maintain total purity. The data are always messy.
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If Democrats don't go on Fox News, it doesn't mean that people stop watching.
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If you look at the Greek economic record, it's been very similar to the U.S. experience in the first four years of the Great Depression. And after having a Depression-sized event, they've cut the unit-labor cost in Greece - they've closed something like half the gap with Germany.
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When Texans suffered from the collapse of the oil market in the 1980s, they could rely on the fiscal union to help them. When Texas boomed with rising oil prices in the 2000s, it contributed to the union to help harder hit regions.
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I believe - I'm not a political expert, but I believe there is a broad consensus, a middle ground if you will, that Democrats and Republicans, business people and workers can agree on, to get this - the economy growing faster, getting people back to work.
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For every criticism of the U.S. economy, whenever people go into a panic, they look around and say, 'That's the cleanest shirt I have. So I'm putting it on.'
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There were 14,000 people at the rally for the president in Ohio. There were another 8,000 people in Virginia. If all 22,000 of those people opened their wallets and gave $1,000 each, that would be less than one donation from a billionaire to the super PACs. And that's why he's in for the fight of his life.
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A lot more people are willing to invest in bonds denominated in euros. And there was the fiscal discipline argument, which is that this tied the hands of countries the market hasn't always trusted, which also helped them borrow at low rates.
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One of the most interesting things that I'm seeing of the Trump picks is such a heavy business and financial focus. I can't help but feel like this is going to throw a lot of policy weight and details back to Congress, because these are not people who have a lot of experience drafting legislation.
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If you had asked people in 1929, 'Here is what is about to happen. How much would you pay to avoid the Great Depression from occurring?' The answer is they would have paid a lot. They would have borrowed money if it could be used to prevent the Great Depression.
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Applying cost-benefit analysis to regulation is no different than what most regulatory agencies do.
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If a lobbyist sets up shop, or a lawyer, in which they're receiving income through what is something like a tax loophole so that it's not counting as corporate income, that is what this is counting as a small business.
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The U.S. is still in a pretty good spot, especially relative to other advanced countries. The aging of our population is not as pronounced as almost anyone else's.
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Whenever I interview someone for a job, I always ask them whether they want to sit in Bernanke's chair. The only wrong answer is, 'Who's Bernanke?'.
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We've gone through rounds of tax cutting and rounds of tax increases in modern U.S. history. We haven't really had a big igniting of a trade war belligerence since the Depression era, and that's not an era that we want to repeat.
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This recession is the deepest in our lifetimes, the deepest since 1929. If you take the people thrown out of work in the 1982 recession, the 1991 recession, the 2001 recession, not only is this bigger, this is bigger than all of those combined.
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You can't look back at the worst financial crisis of our lifetimes that started in 2008 and not have some important lessons about the critical nature of oversights in financial markets and institutions.
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Research professors don't watch a whole lot of TV.
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Cutting taxes for very high income people an average of more than $100,000 a year for people that make more than a million dollars a year is not an effective way to get the economy going.
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What happened is we went into a recession beginning in December of 2007 that was the worst since 1929. And it is a very deep hole that we have been struggling to get out of.
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In this country, we have partnerships, we have S corps, we have LLCs, we have a series of entities that do not pay corporate income tax.
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In Michigan, in the mid-'80s, the unemployment rate goes way up because a lot of factories shut down. And then, the mid-2000s, to pick a date, the unemployment rate in Michigan isn't that much higher than in the rest of the country. But the main way that happened is people moved.
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To the extent that the Trump administration doesn't like a strong dollar, something has got to give, and just yelling at other countries for devaluing when you're raising rates and they're cutting rates is not going to work.