There's bound to be a recovery in [capital spending] sometime soon. We have had basically no capital investment for about year. At some point, machinery wears out, and you've got to replace it.

Rick Perry's an idiot, and I don't think anyone would disagree with that.

The break for me was the Medicare drug benefit in 2003. It's just grossly expensive, bad policy. After that, I no longer gave them the benefit of the doubt and started seeing the glass as half-empty.

With all due respect to Speaker Hastert, trying to eliminate the IRS by adopting a national retail sales tax is a very dumb idea.

Republicans favor tax cuts for the wealthy and corporations, but these had no stimulative effect during the George W. Bush administration, and there is no reason to believe that more of them will have any today. As for the idea that cutting regulations will lead to significant job growth, it's just nonsense. It's just made up.

Democrats will play the old Washington game of calling reductions in the rate of growth of spending for any program a 'cut'.

People are increasingly concerned about unemployment, but Republicans have nothing to offer them.

The problem we have had on the budget all along is a lack of adult supervision on the part of the White House. You can't blame members of Congress for looking out for their parochial interests. It is the president's responsibility to look out for the national interest.

I believe any decline would lock in a Fed increase with some certainty.