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OK I certainly hope so I know you're doing and -- with the FDA but I -- I'm married to somebody is in the small business world have a lot of family members in the small business world.
And it hasn't been FBA that's been standing there while they knock on the doors of multiple banks trying to.
Increase their lines of credit and they are worried I know a lot of them -- very very concerned.
And they look at their health care costs they price it out right now they're getting numbers that are up 30% in Europe and hearing health care expenses.
They can't -- I want to stay in business I understand that you're saying they're inextricably linked health care and right now what's happening with this economy.
But it's hard for them to stomach it's hard for them to hear you talk about -- have trillion dollars when they're not starting to see the results.
Well three and half trillion dollars is what we're.
Again what -- -- inheriting -- mean these -- We are we are inheriting both a significant economic problem and -- significant fiscal deficits but let's talk about health care.
Health care costs could be reduced very substantially credible estimates suggest by as much as 30%.
Without harming health outcomes are quality.
We need to get moving on -- help small businesses and help workers -- frankly to help the federal government to.
We want to get Health Care Reform done this year.
-- little bit about dividends and -- -- you talking Britain multiple books and and one of the things he talked about is is isn't what's going on with the retirement generation and and here's here's the thing that worries me about they -- -- page turner stamp.
Yeah they were -- yeah I think it worries me okay.
What we saw with this -- -- -- is that the preferred dividend.
It is gone in that preferred shares are kind of wiped out we're going to common equity shareholders the FDIC chair Sheila -- the other day said.
You know what you've got had to suspend or temporarily temporarily get rid of dividends.
Are you not concerned that the millions and millions and millions of Americans.
Who rely on that -- -- -- -- right now are seeing the lowest levels -- dividend income since 1938.
What do we do with these programs.
Continue to -- asked that they're gonna go way.
Well look clearly we are in -- period -- of significant difficulty it's gonna take some time to work her way out.
I think focusing on underlying fundamentals getting the economy moving again.
Addressing these long term problems that we face so that we are improving long term economic performance also.
We'll help spur the market and that will also then bring dividends and capital gains.
Capital gains back.
OK but capital gains taxes though will be changed in a year and -- half.
In a year and a half to the levels that existed during the 1990s which again we're very good time for the market.
OK let's switch gears for a moment the savings rate we just found out with up to 5%.
Frankly I feel good about it I'd like to see the savings -- double digits like we saw the past two largest recessions.
I know you don't want to move there that quickly because you need have to spend in part to get this economy refueled.
But do not too reliant economy in the future where 70% of our GDP is dependent on the consumer.
Or do we need to look at our past habits and perhaps -- lose the way we live and spend money in the future.
We do need to change over time we need to move away from the spending consume orientation and towards save and invest for the future orientation.
I'll give me an example actually in the budget we also are proposing.
A new approach an automatic IRA that -- make it easier and simpler for Americans to save for their retirement.
I think we can get that done very soon I'm hoping even in the next couple months.
-- finally entitlement programs you've done a lot of work on Medicare Medicaid Social Security.
You know I I've talked to -- you know David Walker the former comptroller currencies as Alexis.
The financial tsunami is what is going to happen with Ben Ben Bernanke echoed it yesterday as well.
-- we don't do something now the consequences are too great.
How do you do that at a time -- people say stop -- -- eighty issues and focus on three we're covering the financial world and it.
Well look the key to our fiscal future of the key entitlement problem is health care the rate at which health care costs grow.
Dominates everything else over the long term.
That's one reason it's not the only reason but that's one reason we want to get Health Care Reform done this year Health Care Reform is entitlement reform.
All right people will leave that they -- pandora dot thank you so much for taking anti -- I guess this morning I appreciate that thank you I.
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