John B. Taylor: “I have always believed, along with he and a large number of other economists, that it is right for elected officials to…”

This notion is absurd. We cannot simply wish our problems away.

The powers are 'almost like a virus in the body politic of municipal democracy,'

You don't increase taxes.

The whole idea of bailouts is that people get advantage and that it creates huge risk-taking and huge moral hazard.