And one of our points of continuing conversation with our trading partners is the urgency of their taking steps to remove barriers to their improved growth performance.
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Well, I think the best thing we can do for the short term is move good energy legislation through to the Congress; I'm encouraged that there's some prospect for that now.
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Moderation of oil prices would be very, very welcome. But overall I think we are in a position of stable growth, sustainable growth, and basically with inflation in check.
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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.
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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.
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And we have abundant natural energy resources in the country. We haven't been taking adequate advantage of them, and we can burn coal in a clean way; we could improve the grid.
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We're focused on doing the things that make the economy perform well, and as you do that, reduce deficits, for one, very important; secondly, keep growth rates high, very important.
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Social Security represents an $11 trillion unfunded obligation. And when I say unfunded obligation, I mean we have to come up with $11 trillion at some point to make the system whole.
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Telecom is a dramatic success in India and our view is, respecting the political process, and respecting the fact that these are sovereign decisions, is that, approaching India as a friend.
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Well, there's no doubt about the fact that, that higher energy prices lead to greater conservation, greater energy efficiency, and they also, of course, play a useful role on the supply side.
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