Higher energy prices act like a tax.

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.

Our GDP growth rates are creating - our high GDP growth rates, the success of our economy means we're creating lots of disposable income.

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.

You don't fix the problem until you define it.

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.

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.