Essentially we need a new social consensus for economic reform as New Labour has achieved in Britain.
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What I think we need to do to engage the American people in a conversation about entitlement reform is to have a bipartisan group of people who come together and put every solution on the table, every alternative on the table. And then we ought to engage in a long conversation with the American people so they understand the choices.
What we're going to do is redouble our efforts on financial regulatory reform, because that has in it sensible things like say on pay, so at least the shareholders are minding the store, sensible things like saying, for heaven's sakes, compensation should be focused on - on long term, so that you don't have rewards for short-term risk-taking.