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And I think the American people look to the leaders to lead. They look to the leaders to take on the big problems. And the president deserves a lot of credit for doing that. ↗
But clearly an economy that's growing and expanding like this one - and it certainly is doing that with high GDP output, employment numbers strong, capacity utilization strong - that's an environment in which the Fed needs to continually be alert to early signs of inflation. ↗
We have a serious structural deficit problem. And it needs to be addressed. The president is trying to address it through reforms of Social Security, but the problem is there with other entitlement programs like Medicare and Medicaid. ↗
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We promote domestic savings by also things like the personal accounts associated with the president's Social Security initiative, which over time would generate more savings. ↗
