David Solomon

I mean, you've seen it a little bit this morning after some of the noise over the weekend.

You know, the markets opened with a little bit more uncertainty this morning.

But, you know, that's not that's not the kind of thing that really derails us.

First of all, I don't think two, three, four years is long term.

I think two, three, four years is a very short period of time.

Ten years, we're starting to talk about the medium term and the long term.

The next 10, 20, 25 years, we're talking more about the long term.

I've said repeatedly in public settings, and I'll say it again here on your podcast, I am very concerned about the debt and deficit and our inability on either side of the aisle to control our spending.

I think we've kind of gotten to a point where until we have some sort of a crisis or an event that kind of reframes us, we've really put ourselves on very, very difficult fiscal footing.

Now, we have a lot of latitude because of the U.S.

economy, the breadth of the U.S.

economy, the U.S.

dollar, the role of the U.S.

dollar in the world.

We've got a lot of breadth and we've got headroom.

around that.

But ultimately, there will be a significant price to pay if we either don't get the spending and the debt under control in the medium term, or we don't create an economy that's got a higher growth trajectory than the kind of 2% trend we've had.

And so, you know, it's very, you cannot, given the spending levels and the debt levels, you can't simply cut spending or drive more revenue.

You have to have higher growth to make sense of where we are when you start thinking about, you know, 5, 10, 15, 20 years from now, based on the trajectory we're on.

We have entitlement programs that don't work structurally.