“The world is likely to view any temporary extension of the income tax cuts for the top two percent as a prelude to a long-term or permanent extension, and that would hurt economic recovery as well by undermining confidence that we're prepared to make a commitment today to bring down our future defic”

“Of course it can be said of jails, too, that they try - by punishing the troublesome - to deter others. No doubt, in certain instances this deterrence actually works. But generally speaking it fails conspicuously.”