That is what happened in 2010. The administration and the leadership of the Republicans thought, 'Well, we're making a deal together; we're showing the world things can be done in a bi-partisan way. We're extending all our tax cuts for two years.'

Whenever I interview someone for a job, I always ask them whether they want to sit in Bernanke's chair. The only wrong answer is, 'Who's Bernanke?'.

The only question where there is disagreement is should the highest income rates above a quarter million dollars a year go back to where they were under Bill Clinton. That is the dispute about the taxes.

All I'll say is if you look at countries where it is - where they are rapidly growing, they're investing in their infrastructure. They're investing in their educations. They are trying to streamline regulations, but they're not neglecting key investments.