"This is the problem with having a monetary union without a fiscal union."
"I know in my State of Illinois, we lose about $40 billion a year, which is very comparable to the Greek subsidy."
"But this is the way we have lived for at least 40 years in the United States and it has real, long-term impacts."
"Oh, yes, this will be politically very, very difficult."
"Right. But a solution to that problem could actually at least be a partial solution to this."
"That is right. And actually, the IMF may have a role in encouraging that globally."
"The catastrophe was caused by the simultaneous collapse of all three legs of our financial system: the collapse of Republican monetary policy; Republican fiscal policy; and Republican regulatory polic..."
"I think that Members on both sides of the aisle who were not there would do themselves well to look over the tapes of the hearings and the congressional Floor vote and remember what it was that got us..."
"I think this is a tradeoff that we have to understand, and not duck from the fact that it is a fundamental tradeoff that will always be with us."
"One of the only really encouraging developments in the quality of our political debate recently is the acknowledgement that economic growth is not a single value function of monetary policy."
"And so, that is going to have a long-term drag on our economic growth, and I think that people should pay attention to that."
"the proposed 28 percent cut to the State Department budget is a step backwards."