Austan Goolsbee Quotes
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At the time of the formation of the euro, I would say most American economists said that's not a good idea; that's not a currency area that makes sense. And the answer from Europe was, 'How is Missouri and Mississippi a currency area?' But the flaw in that was not recognizing the importance of mobility.
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When I was at MIT, they had a beta test of Mosaic, the first popular browser. I remember looking at it, and there was a weather map or something. Now, in fairness to me, there weren't any websites then. But I remember saying, 'This is stupid - what's the point?' Now, of course, it's obvious.
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I was named DC's funniest celebrity.
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We enter the government essentially in a hotel that is on fire. We're throwing people from the windows into the pool to save their lives and this is the evaluation of the Olympic diving committee: Well, the splash was too big.
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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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The U.S. fiscal union has worked, in no small part, by enabling subsidies to the Mississippis without requiring the approval of the Minnesotas. It creates an important form of insurance.
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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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Look, I don't dispute that the deficit has increased.
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Koch Industries is a multibillion-dollar business.
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The data does not support that high-income tax cuts are the main drivers of growth, so I don't think that uncertainty over what the tax rate will be for someone that makes a million dollars a year has that big an impact on the economic growth rate in the country.
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For policy makers interested in using tax policy to stimulate investments or especially to smooth business cycle fluctuations, the results are not promising.
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So more than 8 million people lost their jobs. It's going to take a significant push on our part and time before that comes down. I don't anticipate it coming down rapidly.
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The president is 100 percent for extending the tax cuts for 98.7 percent of small businesses.
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If you're going to be an academic who's involved in the world of policy, you have to be involved in the world that exists.
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All I'll say is if you look at countries where it is - where they are rapidly growing, they're investing in their infrastructure. They're investing in their educations. They are trying to streamline regulations, but they're not neglecting key investments.
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If we get to the point where we damage the full faith and credit of the United States, that would be the first default in history caused purely by insanity.
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The debt ceiling is not something to toy with.
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The only question where there is disagreement is should the highest income rates above a quarter million dollars a year go back to where they were under Bill Clinton. That is the dispute about the taxes.
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Only Barack Obama consistently opposed NAFTA.