In a very weak economy, when you say 'cut government spending,' what you mean is you're laying off school teachers and you're de-funding various programs that put money into the economy. This means you have more unemployed people that then draw unemployment benefits and don't pay taxes.

One of the things that has been very difficult in Libya is the sense of uncertainty - the sense that they haven't actually finished the revolution, that there was still a great deal of uncertainty. That uncertainty has made Libya harder for business in terms of oil and other things as well.

Intelligence is called the world's second oldest profession for a reason. Everyone does it.

I'm largely in favor of financial reform.

If you listen to the political discourse in America today, you would think that all our problems have been caused by the Mexicans of the Chinese or the Muslims. The reality is that we have caused our own problems. Whatever has happened has been caused by isolating ourselves or blaming others.

The American consumer, even today, the weight of the American consumer in the global economy is China plus India doubled. So, it's tough to replace that.

The markets are much more interested in America's long-term trajectory than they are in feeling that there is an acute short-term crisis.