"I was obsessed with this idea that these things that you collect, they just say so much about who you are. I can't say it came from hard-nosed business analysis... It was just something I really want to see built."

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Cold-turkey deficit reduction would cause a significant recession. A recent analysis by the Congressional Budget Office estimated that going headlong over the cliff would cause our gross domestic product, which has been growing at an annual rate of around 2 percent, to fall at a rate of 2.9 percent in the first half of 2013.

— Christina Romer