Quotes of the day

... if she believes her own research, Christina Romer should be a strong critic of her new boss's policies.--David Henderson

Accumulating medical data shows that Medicaid recipients' poor health outcomes aren't just a function of their underlying medical problems, but a more direct consequence of the program's shortcomings.--Scott Gottlieb

Remember when Dick Cheney was pilloried for reportedly saying, earlier this decade, that "deficits don't matter"? We recall reading any number of press releases denouncing the Vice President for supporting tax cuts that contributed to short-term deficits but also helped the economy grow until the deficits shrank nearly away. Yet somehow none of those same voices are objecting now that the government is spending its way into deficits that are so large they dwarf any during peacetime in U.S. history. ... We've long argued that deficits per se are not worth losing sleep over, though we do recall when Robert Rubin and Larry Summers claimed that reducing them was itself an economic virtue because it reduced interest rates. With their acquiescence in the magnitude of these deficits, we trust they will now admit to burying Rubinomics as a serious economic philosophy. Democrats are once again all Keynesians now -- at least until they want to use the deficits as an argument to raise taxes in a year or two.--WSJ Editorial Board

25% of the delegates at the Democratic National Convention were union members, when only 7% of the party are union.--Michelle Caruso-Cabrera