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Fiscal discipline can turn the economy around.

The way forward is for governments to consciously pursue monetary and fiscal stability through setting clear objectives, establishing proper rules, and requiring openness and transparency - the new rules of the game.

I've criticized Republicans for their lack of fiscal discipline when they controlled Congress before 2007. However, that is no excuse to just continue with more of the same or, as the case is now, to make it worse. Under House Speaker Nancy Pelosi's budget, we will double the national debt in five years and triple it in 10.

We have major fiscal problems on our hand.

The budgets we work on in Congress are more than just fiscal documents; they are a reflection of our moral values as well. In choosing where to spend money, members of Congress choose what priorities they value.

Well, a deficit reflects an imbalance between spending and revenue, and so narrowing it requires acting on one, the other or both.

Normally, when politicians talk about 'cutting the budget,' they really mean reducing the amount of increase. Actual spending goes up while the politicians claim to have 'cut the budget.'

Monetary policy causes booms and busts.

Fiscal policy is not just, or even not even principally, the purview of the president.