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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.
John W Snow
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Well, I make a practice of not commenting on the role of the relative exchange value of our currency.
John W Snow
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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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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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We must start with the reality that corporations cannot guarantee anyone a lifetime job any more than corporations have a guarantee of immortality.
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We have to keep our eye on inflation, but so far inflation remains reasonably in check on the global stage.
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We have the most flexible and adaptive economy. Making sure we sustain the ability of the American economy to perform well is really the priority of economic policy.
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We have the deepest and most liquid capital markets in the world.
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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 can get more energy out of the north slope of Alaska; we have available the ability to make ourselves less dependent on those uncertain sources of supply from the Middle East. And it's important we do that.
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The global economy is in pretty good shape.
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The deficit - the U.S. knows our deficit is too large. We are committed to bringing it down. We are bringing it down. The deficit came in for fiscal year '05 at considerably below where it was the prior year.
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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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