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This week: Jason Furman joins the show this week for an economy-focused discussion. We start by looking at why public views about the economy have gotten so negative, the persistent economic problems people are so mad about, the obvious solution (it's fiscal consolidation — that is, tax increases and spending cuts), and what it could take to get us there. We also discuss Kevin Warsh's first actions as chair of the Fed.

For paying subscribers, we talk with Jason — who co-teaches Harvard’s largest undergraduate course — about the university’s efforts to unwind the rampant grade inflation that led to two-thirds of undergraduate grades being straight A’s. And we have another edition of cocktail hour, in which Megan, Ben and I reflect on our experiences of skipping grades in elementary school, we rank the best six New England states, I offer provocations about grilling, and we share our plans for celebrating America’s 250th birthday.

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