Whatever you tax, you get less of.

Diplomacy is really far less important than the stock movements within Russia.

Any informed borrower is simply less vulnerable to fraud and abuse.

Foreign investors, both private and official, may become less willing to absorb ever-growing claims on U.S. residents,

Look, I'm very much in favor of tax cuts, but not with borrowed money. And the problem that we've gotten into in recent years is spending programs with borrowed money, tax cuts with borrowed money, and at the end of the day that proves disastrous. And my view is I don't think we can play subtle policy here.

Much fiscal policy is implemented, not through spending increases, but through tax credits and other so-called tax expenditures. The markets should respond to them as they do spending cuts, with little contraction in economic activity.