The Gses Are Adequately Capitalized. They Are

I Think That Having Good Data, Good Statistics-and The United States Generally Has Better Macroeconomic Statistics Than Most Countries-and Having Good Economists To Interpret Those Data And Present The Policy Alternatives, Has A Substantially Beneficial Effect On Policymaking In The United States.

Speaking As Somebody Who Has Been Happily Married For 35 Years, I Can't Imagine Any Choice More Consequential For A Lifelong Journey Than The Choice Of A Traveling Companion.

Over The Years, The U.s. Economy Has Shown A Remarkable Ability To Absorb Shocks Of All Kinds, To Recover, And To Continue To Grow. Flexible And Efficient Markets For Labor And Capital, An Entrepreneurial Tradition, And A General Willingness To Tolerate And Even Embrace Technological And Economic Change All Contribute To This Resiliency.

Under Current Law, On January 1, 2013, There's Going To Be A Massive Fiscal Cliff Of Large Spending Cuts And Tax Increases.

The Impact On The Broader Economy And Financial Markets Of The Problems In The Subprime Markets Seems Likely To Be Contained.