If You Think About It, Candidate Obama,

In The Four Decades After World War Ii, Manufacturing Jobs Paid More Than Other Jobs For Given Skills. But That Is Much Less True Today. Increased International Competition Has Forced American Manufacturers To Reduce Costs. As A Result, The Pay Premium For Low-skilled Workers In Manufacturing Is Smaller Than It Once Was.

Tax Increases Appear To Have A Very Large Sustained And Highly Significant Negative Impact On Output. Since Most Of Our Exogenous Tax Changes Are In Fact Reductions, The More Intuitive Way To Express This Result Is That Tax Cuts Have Very Large And Persistent Positive Output Effects

There's A Joke In Economics About The Drunk Who Loses His Keys In The Street But Only Looks For Them Under The Lightposts. When Asked Why, He Says, 'because That's Where The Light Is.' That's The Problem With The Deficit.

Raising The Minimum Wage, As President Obama Proposed In His State Of The Union Address, Tends To Be More Popular With The General Public Than With Economists.

I Think Something That Forces Financial Institutions To Write Down Underwater Mortgages, I Think, Would Be A Sensible Thing To Do.