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.

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.

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.

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.

Higher energy prices act like a tax.

Higher energy prices act like a tax. They reduce the disposable income people have available for other things after they've paid their energy bills.

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.