It is absolutely clear that government plays a key role, as a catalyst, in promoting long-run growth.

Having your fiscal house in order and having a more manageable macro-economic future is going to be very useful in creating growth.

There is very strong historical data that suggests the way societies grow is by making large, long-term investments.

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.

America's growth historically has been fueled mostly by investment, education, productivity, innovation and immigration. The one thing that doesn't seem to have anything to do with America's growth rate is a brutal work schedule.

Americans have so far put up with inequality because they felt they could change their status. They didn't mind others being rich, as long as they had a path to move up as well. The American Dream is all about social mobility in a sense - the idea that anyone can make it.