The reform of state industry, and most directly related to that, the banking sector, is enormously daunting.
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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.
Every one says: 'Listen, I'd love to reinvest. I'd love to hire people. But I have no idea what this healthcare bill is going to do to my bottom line. I have no idea what this financial reform bill is going to do... I'm not going to step out a limb and do any of those until I know what this government is going to do to me.'