Austan Goolsbee Quotes
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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.
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Giving Northern Europe a veto over Southern Europe's budgets will not hold a monetary union together. The euro zone will continue to need the weaker countries to stomach decades of high unemployment to grind down wages.
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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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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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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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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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Look, I don't dispute that the deficit has increased.
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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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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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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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Koch Industries is a multibillion-dollar business.
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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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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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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 president is 100 percent for extending the tax cuts for 98.7 percent of small businesses.
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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.
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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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The debt ceiling is not something to toy with.