Cold-turkey deficit reduction would cause a significant recession. A recent analysis by the Congressional Budget Office estimated that going headlong over the cliff would cause our gross domestic product, which has been growing at an annual rate of around 2… — Christina Romer Copy Share Image
Our estimates suggest that a tax increase of 1 percent of GDP reduces output over the next three years by nearly 3 percent. The effect is highly significant. — Christina Romer Copy Share Image
I think something that forces financial institutions to write down underwater mortgages, I think, would be a sensible thing to do. — Christina Romer Copy Share Image
I think where I differ a little bit, we absolutely have to think about the deficit looking down the road. And certainly that's something… — Christina Romer Copy Share Image
You care about the deficit because it allows you to do things you need to do to help people who are suffering. — Christina Romer Copy Share Image
The central question is whether Medicare and Medicaid should remain entitlement programs guaranteeing a certain amount of care, as Democrats believe, or become defined… — Christina Romer Copy Share Image
The stock market crash in October 1929 didn't destroy a particularly large amount of wealth or make people highly pessimistic. Rather, it made companies… — Christina Romer Copy Share Image
Tax increases appear to have a very large sustained and highly significant negative impact on output. Since most of our exogenous tax changes are… — Christina Romer Copy Share Image
The most effective way to shake an economy out of a terrible downturn when we're at the zero lower bound is an aggressive change… — Christina Romer Copy Share Image
Thanks to former President George W. Bush - remember the compassionate conservative? - I have a good name for the fundamental principle that should… — Christina Romer Copy Share Image
President Obama has repeatedly urged Congress to let the Bush tax cuts expire for those earning more than $250,000 a year. Increasing rates on… — Christina Romer Copy Share Image
If every other store in town is paying workers $9 an hour, one offering $8 will find it hard to hire anyone - perhaps… — Christina Romer Copy Share Image
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… — Christina Romer Copy Share Image
If increasing income equality is the goal, it might be wiser to put money into infrastructure than to subsidize manufacturing. Construction also pays good… — Christina Romer Copy Share Image
