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Nelson Mandela’s Legacy Extends to Wall Street, Too

  

    
      
What Republicans Can Learn from Democrats

  

    
      
Obamacare Fixes Hide a Big Mess on the Back End 

  

    
      
Strong Job Numbers Drop Unemployment Rate 7.0 Percent

  

    
      
After Detroit, Who Will Cut City Pensions Next?

  

  

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Key U.S. Regulator Too Cozy with Big Banks: Report
        
Rob GarverThe Fiscal TimesDecember 6, 2013The regulator in charge of some of the biggest banks in the United States needs to change the way it does business...
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Now, Even Your Bra Could Be Hacked
        
Maureen MackeyThe Fiscal TimesDecember 6, 2013This could be the biggest thing to hit the world of intimate apparel in years – and the biggest boon for creative...
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6 Lethal Weapons Congress Won’t Let Die
        
David FrancisThe Fiscal TimesDecember 6, 2013Congress is forcing the Pentagon to keep another program that it no longer wants. This time, House Armed Services...
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World Cup Draw 2014: The U.S. Handed a Tough Group Again
        
Josh HerrThe Fiscal TimesDecember 6, 2013Next summer, 32 nations will meet in Brazil to participate in the world’s biggest sporting event, soccer’s World...
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November’s Great Jobs Report Leaves a Lot to Be Desired
        
Rob GarverThe Fiscal TimesDecember 6, 2013Before we get too excited about an unemployment rate as low as 7 percent for the first time in five years, let’s...
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Sex-Ed 101: Should the GOP Be Graded on a Curve? 
        
John LeoThe Fiscal TimesDecember 6, 2013Famed media couple Ralph and Wanda debate whether Republicans can be media trained to talk wisely to women.
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Why the Holidays Are Hazardous to Your Love Life 
        
Emily ShireTheWeek.comDecember 6, 2013Tis the season for bad relationship decisions, says a new survey from the dating site PlentyOfFish . Holidays are...
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Boozy Buying Is New Source of Income for Retailers 
        
Kelli B. GrantCNBCDecember 6, 2013Endless lines. Pushy crowds. Hearing "The Twelve Days of Christmas" for the umpteenth time in a matter of hours...
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Federal Budget: 10 Cuts That Would Save the Most
        
Brianna EhleyThe Fiscal TimesDecember 6, 2013Two think tanks from opposite sides of the political spectrum joined together Thursday to release a long list of...
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Nelson Mandela:  The Man Who Toppled Apartheid
        
Andrew LumbyThe Fiscal TimesDecember 5, 2013Millions across the globe are mourning the passing of Nelson Rolihlahla Mandela, the former South African...
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5 Questions For...
Jon TafferBusiness Consultant, Host of Bar Rescue
Why is running a business like playing a football game?
Managing a business means pushing to get those few inches every day. It’s a fight for excellence. You have to fight to hire the right people, to get the best supplies, to move line items around.
Why is building relationships with customers so critical?
A customer is not just worth $10. He or she is worth hundreds, thousands. When you deliver a product, the customer sits up and takes notice - or nothing at all happens. No business can allow nothing to happen.
How do you fix ineffective management?
If their businesses are failing, I have to change the way they think. To do this, I can appeal to their pride, play to their fears, invoke their competitive spirit – or get confrontational. You’ve got to play to what motivates different people.
What’s your cure for government dysfunction?
Our elected leaders in D.C. should fight for the same high standards we require in business. Stick to a budget. Come in to work every day. Read what you sign. Be honest with people.
How can everyday Americans contribute?
People are managers of their lives and of society, too – with our votes, with our dollars, with what we say and do. Ultimately we’ve got to speak up and act, no different than a good manager would do.
Stephen D. KingEconomist
The 2014 budget and debt ceiling are hot issues. Are lawmakers talking about problems with low growth?
The majority tend to simply hope there’s a strong recovery in the next year or so. There’s a growing gap between political hope and economic reality.
Why aren’t we getting the big growth we once did?
Typically it’s interpreted as a short-run fixable problem, that there must be some magic bullet that will deliver a decent recovery in economic activities. 
Your argument is different, though. How so?
We [saw] an unusual golden age from the 1950s to the end of the 20th century. A series of one-off effects temporarily lifted the growth rate from a longer term steady-state growth rate. One effect: the extraordinary opening up of world trade. 
Stagnant economies create an impediment for needed political reforms, you say. How to break the cycle?
Each vested interest believes reforms will damage its particular lifestyle; there is tremendous resistance. Growth rate remains weak and the promises we made become in more danger of being broken. 
With demands on Medicare and Social Security, you say we need an 'intergenerational social contract.' Why?
Boomers need to recognize how vulnerable they’ll be without young people. No matter how much savings they have, if there isn’t enough production, the savings will be made worthless.
Patty MurrayChair, Senate Budget Comm.
Have budget talks between the Senate and House collapsed?
We’re being dragged by Republicans into a nightmare scenario between our two budget allocations and [GOP] insistence the debt ceiling be tied in. People in this country want certainty. They want us to come to a solution.
Are you frustrated you can’t get to conference?
Absolutely. In Congress we have differences of opinion. We come together; we compromise. That’s what regular order is. Without it, the [GOP is] literally dragging us into an economic calamity this fall. 
Why won’t they meet to work out a final budget deal?
Their stated reason is they don’t want to take extra votes in the House [selecting and instructing negotiators] while we work on this. To me this is a non-argument.
What about raising the debt ceiing? President Obama says he won’t negotiate [based] on that.
Last time we had a debt ceiling discussion [in 2011], we were downgraded by a credit rating agency. People were frightened. There’s no reason for Congress to drag us to that again.
How is all of this likely to play out?
We go to conference, work out an agreement. I won’t like everything. Sen. Paul Ryan won’t like everything. But this is a democracy. That’s how you solve problems.
Newt GingrichGOP Leader; Author; Former House Speaker
How do you do that, practically speaking?  
We have to offer a better future than [just being] the anti-Obama party. If every conversation began with, ‘Here’s how we’d like to make life better,’ well, that is a very different message than, ‘Here is what Obama is doing wrong.’
You take issue with sequestration. Why?
It may be the worst possible way to [get the budget under control] except not doing it at all. They don’t seem capable of doing it intelligently – so doing it stupidly is maybe the most we can hope for.
How may it affect Obama’s second term?
Ultimately the president owns the economy; he owns the government. And it’s very, very hard to figure out how he’s going to get out from under that responsibility. I think it’s a very long process. 
You’re focusing on emerging technologies. Why? 
Imagine applying 3D printing to military and logistics systems. Take Sebastian Thrun’s Udacity with its 90-percent reduction in tuition. Take Google’s driverless car; apply it to reducing insurance costs. In place after place there’s an exciting, vibrant future. 
How can the GOP repair itself?
You need inclusion, not outreach. Outreach is when five white guys have a meeting and call you. Inclusion is when you’re in the meeting. We have to drop the red vs. blue and think instead about 311 million Americans. 
Kareem Abdul-JabbarEducation Advocate; Author; NBA Legend 
Your thoughts on President Obama’s push for early childhood education?  
No thinking person is against early childhood education. The best way to have higher performing middle school and high school students? Start young. The tricky part is how do we best spend limited resources to achieve the maximum results?
You disagree with performance-based rewards to schools. Why?
Such a reward system results in school officials tampering with tests or transferring at-risk students to raise their test scores. In fact, schools with lower test scores might need more funding: They’re teaching students with a weaker academic foundation.
You believe in stronger math and science programs. Is this finally happening?
Yes, it is. Last year’s report from Harvard Univ. was a wakeup call: When ranked against 49 other countries, American students ranked 25th in math, 17th in science, and 14th in reading. 
What is the larger message?
It’s very clear for our future. If we don’t improve our students’ education in math and science, our country will not be economically competitive. Instead of climbing out of the economic slump we’re now in, we will simply descend further.
Name your biggest political concern.
What it’s been for every political activist: social and economic equality for all. If we have the intellectual capability to poke around Mars, we should be able to apply those same capabilities to solving our social inequities.
D.J. PatilChief Data Scientist, Greylock Partners
How is big data changing the way business captures customers? 
Data science now has a front seat. Consider the success of ‘Moneyball’ and of election predictions. We’ve gone from targeting customers to building data products to benefit customers – like Google’s self-driving car. 
What excites you most about the field? 
The ability to improve people’s lives, as in forecasting Hurricane Sandy. People are also using data to better track their health. There are advances in genomic analysis, too. 
What concerns you most about this field?  
We’re in an arms race against those who would breach security systems. There are very sophisticated data products out there. We need to better discuss privacy and the appropriate use of data by the government.  
Best way to prepare the data scientists of the future? 
Students need a great foundation in math, statistics, computer science. Domain expertise is also required. They also need to have another multidisciplinary area – biology or physics, for example. 
Tell us something we don't know about a data scientist’s job.
The most powerful skill of a great data scientist is the ability to create a narrative. Data by itself is cold.  It’s the human that makes it come alive and be useful.  
Alan AldaScience Advocate; Educator; Actor
You’ve interviewed 700 scientists. Why is good communication so vital? 
To excite curiosity more than give definitive answers. You don’t swamp people with jargon or complex processes. Instead, tell them as much as they need to know for the time being. 
Why the Flame Challenge – what is it? 
The contest helps scientists explain ideas in an engaging way. It’s difficult to explain things to someone who isn’t trained. We want to help them change how they talk about their work. 
At what age should we get kids involved in science?
I have 3 daughters and 8 grandchildren. Kids are natural scientists. They explore nature and try to understand it before we formally start teaching them. They’ll care about it as long as they follow their interests into it.
Does this get lost in formal education?
It does. That’s why I believe that the better communicators scientists are, the better our science education will be. 
What can universities do to help this? 
Have courses in communication in the science curriculum. At Stony Brook University, dozens of graduate students take courses in oral and written communication.  
Chris Van HollenSenator (D-MD)
Will we avoid the fiscal cliff or go over it?
When it comes to the sequester, I think we’ll find an alternative set of budget savings, whether that’s for a short period of time or a long period of time. 
Meaning, what, specifically? 
I don’t think we’ll just kick the can down the road. But I think we will find a replacement deficit reduction package.
You applauded John Boehner’s tone [suggesting potential compromise on higher tax revenues] but said you’re not sure it’s different than what Republicans have said before.
He sounded like he wanted to work with the president and Democrats to get things done. His words were interpreted differently by different groups, though. 
Is there no chance you and the Democrats would go along with ‘dynamic scoring’ to reach agreement on long-term revenues?
We support the professional, non-partisan analysis by the Joint Tax Committee and the CBO. They’re the referees. Otherwise people just make up their own numbers.
Who has more leverage, the president or the GOP? 
When they played politics with the debt ceiling in 2011, it backfired. Exit polls showed the country strongly supports shared responsibility to reduce the deficit and asking high-income earners to pay more.
Alice RivlinCo-Chair, Bipartisan Policy Center Fiscal Task Force
Why isn’t there serious talk of balancing the budget today?
The terminology has shifted in the face of reality. In Simpson-Bowles and Domenici-Rivlin, we focused on slowing down debt growth. The growth of debt is not sustainable currently. The goal is to keep it from growing faster than the GDP.  
The new focus, then, is stabilizing the debt?
In terms of the deficit, stabilizing the debt means getting it to a position where it’s only growing at 1 or 2 percent of GDP. The more urgent, doable goal is stabilizing the debt. The question then became: What do you stabilize it at? The answer: About 60 percent. 
Is this goal the new Holy Grail? 
Most of us never thought balancing the budget was a sensible goal anyway. You don’t have to balance the budget, but you do need the debt growing at a sustainable rate. That’s less than say, 3 percent a year if you think you can grow your economy that fast.
Why is the trajectory we’re on dangerous?
You don’t want to destroy the economy’s growth when we’re in a halting, slow recovery. That’s part of it. But the trajectory we’re on is dangerous with respect to the future rise in debt. It’s not quick and easy. 
When was the turning point in the thinking on this? 
When things got out of control in the Great Recession. That escalated the deficit a lot. By the time people started saying, ‘What do we do?’ it didn’t seem feasible to get to a balanced budget any time soon. 
Chris EllisPolitical Scientist, Bucknell University
How much do presidential debates impact voter choice?
Minimally, usually. In fact, in essentially every election since we’ve started polling, the candidate who was in the lead going into the debates was in the lead coming out of the debates. 
Romney’s polling improved dramatically after the first debate – so there are exceptions.
Yes, in the first 2012 debate, one candidate so clearly outperformed the other that it made some voters take notice. But I’m still not sold on [the first debate being] a game changer. 
How much does style matter over substance?
Style matters a good bit, largely because the substance is so low [in debates]. Voters tend to discount or simply not believe many of the policy-related comments the candidates make.   
Does the town hall favor one candidate or the other?
Not necessarily. It might be thought to favor Obama; he’s in his element when he talks directly to voters about their concerns. But he can’t seem or sound too aggressive.
Conveying a sense of urgency to voters: Isn’t this a priority?
There’s some need for this. Obama has to convince us things are on the right track. Romney, by contrast, has to argue the Obama economy has been a failure. 
Erin BotsfordFinancial Planner and CEO
Worst mistake people make in financial planning?
They focus on a ‘magic number’ to reach, instead of asking, ‘What does it cost me to live and how can I create cash flow to cover the cost?’ People must know if they can afford their lifestyle.
How should they create cash flow?
People say, ‘I want to grow my money from $100K to $200K.’ But I’d rather they say, ‘I want my $100K to give me a 5 percent return each year.’ We need income streams.
Dividends are critical, moreso than what stocks are worth. Why?
Some companies pay dividends every quarter and have for 50 years. Some have raised dividends yearly for the last 10 years. Do your research. Investing in companies that make consumer staples is smart.
Why should those still in their 50s think about downsizing?
Unless there’s untold millions, most people need to consider how they can cut costs in the near future. You may not need that big house anymore. You invest differently for your needs than your wants.
What else should people ask themselves?
‘Can I throw another hat in the ring?’ Start an entrepreneurial venture even if you have a job. I would not want to rely on someone else’s benevolence for my ability to live.
Craig ShirleyReagan Biographer
So the person with the least objections would be whom?
John Thune, senator from South Dakota. He’s a safe pick. A solid guy. A sterling character, by all accounts. And he wouldn’t overshadow Romney, which is a very big consideration.
Your take on Gov. Bobby Jindal of Louisiana?
I don’t know anybody who doesn’t think highly of him, from the standpoint of conservatives. He’s put conservatism into practice with the way he’s run Louisiana. 
Why, specifically, do you favor him?
He’s brought charter schools to New Orleans. Truancy is down and SAT scores are up. There’s been demonstrable improvement across the board in the schools with reforms he’s brought in, as well as with budget cuts and tax cuts.
Is Jindal ready to become president if need be?
He’s been governor of Louisiana longer than Romney was in Mass., in terms of experience. And I don’t know anyone who doesn’t think Jindal doesn’t have a sterling character. So, yes, he’d be ready to become president
Who’s the best possible VP pick for Romney?
The person he’s most comfortable with. That’s what the choice comes down to.  It’s worth noting, by the way, that the VP pick is rarely helpful in the long term but can be very damaging in the short term. 
Michael TraugottPolitical Scientist, University of Michigan 
Portman, of course, served in two cabinet positions under George W. Bush. Does this present challenges?
Portman’s experience is broad and deep enough that his association with the Bush administration is not likely to be a significant issue, in my opinion.
Did Sarah Palin in 2008 in some fundamental way ‘ruin’ it for a woman as a choice in 2012?
I don’t think so. But I don’t think she made the concept of gambling on a pick a very attractive one. From what we know of Romney, he’s not the gambling type. I expect him to make a very risk-averse choice.
It doesn’t mean he won’t pick a woman, though. There are very qualified candidates.
The GOP’s policy positions vis-à-vis women only mean he’d have to select a very conservative woman. It would sharpen the contrast between the campaigns. Women are a critical part of the electorate – so it would work to his disadvantage.
All things considered, do you stand by Portman as ‘making the most sense’?
Assuming we’ll have a very close election, someone from a battleground state makes the most sense, at the margins – someone like Portman of Ohio or Rubio of Florida. I think Romney will make a safe choice, and that includes picking a man.
Who should Mitt Romney pick as VP?
I won’t comment on whom he should pick, but I’ll guess who he will pick. I think he’ll select Rob Portman for the slot. Portman has an appropriate background and is from the key battleground state of Ohio.
Socrates LazaridisChair, Athens Stock Exchange 
You say talk of a Greek exit from the Eurozone isn’t constructive. Don’t you need to prepare? 
Yes, but at the time we don’t have any type of information about how this would happen – only fear and uncertainty create a discussion. Specific decisions are needed in order to go outside the Eurozone. 
Are you frustrated with the time it’s taken to resolve the debt crisis?  
My little experience [with] crisis management is that to make decisions, you don’t have to evaluate the past. You have to understand the problem and how to resolve it. I [want to] be optimistic. Everybody has the knowledge to make the right decisions.
Will investors come back and buy Greek stocks?
There’s always uncertainty about the economic environment. We have a level of market cap to GDP, which is around 10 percent. It’s 5 to 6 times less than the average European [market]. It is an important signal of opportunities in the Greek stock market.
Yet there’s a lack of confidence in investing in Greece.
We are an attractive market. Fifty percent of our market capitalization is owned by foreigners. In terms of velocity, we are at the same level – the trading volume remains sustainable. We have a liquid market with opportunities.
Greeks will have less money to put into stocks. How does that affect the exchange?
Foreign inflows will dominate growth of [our] economy. But while in 2010 we had about 1B in outflows of foreign investments, this figure has decreased to 260M in 2011 and is now about 60M in 2012. We’re going for a rebound.
George Patakiformer New York Governor (R)
Pres. Obama has gone after Romney on Bain Capital. Wise or not? 
It’s unfortunate. This president’s job policies have failed and he’s attacking someone who has created jobs and successful private sector companies. If the president wants to point fingers, he can look at Solyndra and others. He lost hundreds of millions in taxpayer money.  
Your thoughts on a VP pick for Gov. Romney?
I think whatever thoughts and opinions I have on that matter are best kept between Gov. Romney and myself. I have complete faith that Gov. Romney will pick the best and most qualified person for the job. 
How much do the Wisconsin recall results matter for Nov.?
The average voter is worried about a job, home values and health care costs – these will drive the presidential election. People need a sense of the direction the U.S. is going in and right now they don’t have it. 
What’s holding the economy back?
The costs and uncertainty of Obamacare, trillion-dollar deficits, and a bogus stimulus program.  The president’s policies have failed. Gov. Romney has not had a chance to try what he believes will help the country. I think the American people are willing to give him a chance. 
Should Obama be taking heat for the May jobs numbers?
I think he should be attacked for them. It’s now about three and a half years into his administration and he can’t continuously blame the fact that this is the worst recovery ever on President Bush. It’s tragic we’re not seeing the recovery we need.
Chesley SullenbergerPilot, consultant, author
You say all Americans can help ‘fix’ the country. How?
Each of us has a responsibility to ourselves, to each other, to our nation, to society, to be involved, to educate ourselves, and to choose people we think will do the same. We’ve got to vote; we’ve got to be engaged. I believe problems can be solved if we work together.
 Why do we need to change the financing of political campaigns?
The Supreme Court decision in Citizens United has made Super PACS possible. That kind of money creates access to legislators that disenfranchises the rest of us. Until we change the game to align the incentives toward public good, it’s difficult for people to be effective leaders.
How would you bridge the gap between the 1 percent and the 99 percent?
People have to change the way they think. That’s one of the first things boards can do: Tie pay to performance. When we get these high multiples, it’s counterproductive. The committees may claim that attracts the best talent, but I don’t believe it.
How do negative corporate cultures create hidden costs?
CEOs who believe ‘there’s no economic benefit to having happy employees’ pay a huge price. There are costs associated with not having a partnership between management and labor, not having an engaged, innovative workforce. You lose good people; you miss productivity targets.
Why do you feel Michelle Rhee is a strong leader?
As head of Students First, she knows holding children to the highest standards is in their best interests and the country’s best interests. It’s not about maximizing the pay and privileges of tenured teachers. It’s about educating our kids.
Bill BradleyFormer N.J. Senator
Q:  Are Super PACs threatening democracy?
A:  There’s no question they are. They should be illegal. Citizens United was a ludicrous ruling by the Supreme Court. The only way to deal with it is by a constitutional amendment limiting the amount of money that can be spent on political campaigns.
Q:  You say we need public financing of political races. Why?
A:  For roughly $3 billion a year out of a $3.5 trillion budget we could take all the special interests out of the legislative process.  It would then be influenced more by argument and facts than by dollars. Money is a corrupting influence.
Q:  Your view of the presidential campaign so far?
A:  The GOP primaries were mean and petty, a blamefest with far too little focus on America’s future. President Obama and Mitt Romney, if he’s the GOP candidate, have to lay out what they would do to fix this country for the future. 
Q:  Do you feel the president should win reelection?
A:  I do and I think [President Obama] is uniquely qualified to lead the country for a second term, but he’s got to lay out the specifics. I think he’s starting to do that now, with his focus on education and infrastructure, among other things.
Q:  Why is now the time to tax energy inefficiency?
A:  We need more jobs, but we have a great disincentive for hiring in the way we tax work and employers. Let’s have a tax on pollution, on energy inefficiency. We should tax things, not people, not employers. 
Charles DuhiggAuthor, The Power of Habits
Why is Alcoa worth a mention when it comes to good corporate habits? 
Paul O’Neill, former CEO, picked the issue of worker safety to change how people worked companywide. Alcoa became a top Dow Jones performer a year later. Good habits can transform billion-dollar corporations.
And bad habits can ruin them – as in the London King’s Cross subway fire when 31 people died?
That’s a dramatic example of how dysfunctional habit can be dangerous – and what can happen when there aren’t strong processes in place for taking responsibility in organizations.  
You say Starbucks turned self-discipline into an organizational habit. How? 
Willpower has become routine there. By choosing certain behaviors ahead of time, employees know how to handle difficulties with customers or equipment. Good service is built into the business model.
Companies can’t perfect everything, though.
No, so they should choose priorities that set off chain reactions. When O’Neill said nothing mattered more than worker safety, that was a huge cultural statement and it drove choices on a day-to-day basis.
How can this thinking lead to ‘small wins’? 
Clear habits offer opportunities for victory. There’s momentum plus room for experimentation, and most companies need serendipity to have breakthroughs. The point is to plan and think very deliberately about habits. 
Grover NorquistPresident, Americans for Tax Reform
Why do you feel your anti-tax pledge is so important?
You don’t have an agreement if nothing’s written down. The pledge allows a candidate to credibly tell voters, ‘I won’t raise taxes.’ If someone just says that, you know nothing.
You believe the pledge allows the country to ‘elect a president, House and Senate committed to not raising taxes.’ How? Why?
That’s when you get to reform. Do you think people who like to spend are going to give it up? It’s their life’s work. Our job is to say ‘No.’ We’ll bring spending down, not pull taxes up.
Do you still think we should return to 8 percent of GDP?
Spending is too high. If you take the Ryan plan out to about 2050, you get to about 15 percent of GDP. We should move state and local pensions to defined contributions. We should block-grant all welfare programs.
Of those who haven’t signed the pledge but are against tax increases, do you expect any newcomers soon?
[Senator Richard] Lugar is in a tough race [in Illinois]. He might sign the pledge. He’s come over to talk to us a bunch [of times].
You’re behind the Ryan plan. What happens after the election?
The modern Republican party’s answer to Obama’s overspending is the Ryan plan. All the presidential candidates have tipped their hat in its direction. Whichever Republican wins is going to sign something very much like the Ryan plan.
Charles MurrayAuthor, Coming Apart: The State of White America, 1960-2010
Why isn't American social and economic mobility dead?
If you're an academically talented youth, with good grades and test scores, it doesn't matter where you're from. Elite colleges are very good at identifying you and paying you to be there. The way up has never been more open for the talented. 
How about mobility for the others?
The ways in which it’s not as good are a consequence of what happens in a meritocracy over generations. Today the really successful pass not just money but talent to their children. Years ago, huge amounts of talent were located throughout society, without regard to socioeconomic status.
You don't discuss the causes of this. Why not?
It’s very contentious. I’ve said the reforms of the 1960s were a major contributor to problems with out-of-wedlock births, men dropping out of the labor market, and so on.  I still believe that. We need people on both the left and the right talking about this problem.
You say only 48 percent of working class whites were married in 2010, vs. a much higher number years ago. Why does this change everything?
It changes the social capital of our country. American community has been very vital, the exceptional characteristic of the U.S. And the people available for community activism generally are married. That’s a fact.
If a college education is the next big bubble to burst, what happens then?
We have an inflated market for college education. The BA has become meaningless. Yes, it’s a bubble. I hope it collapses soon. The BA has become a pernicious force in American life. Instead, employers will want certifications, equivalent to a CPA exam.

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Cartoons"Do you ever have one of those days when everythign seems unconstitutional?"
"In light of the continuing fiscal crisis, Nat, I suggest you reconsider your ambition to be a fireman, a policeman, or a member of the Sanitation Department."
"Who would ever have guessed that there'd be a golden age of debt?"
"Another way to help the economy would be to boost teachers' salaries."
"You blow a billion here, you blow a billion there. It adds up."
"Damn it! How can I relax, knowing that out there, somewhere, somehow, someone's attacking the dollar?"
"Remember, son, these are your tax-free years. Make The most of them."
“Well, so long, Eddie. The recession’s over.”
“Must you tell us what our daily share of the national debt is every time we sit down to dinner?”
“Will this be cash or consumer debt?”

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Jeffrey D. Zients
the presidential adviser leading HealthCare.gov 
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