in public debt. you've got the administration arguing for continued stimulus. and i don't think it's going to have a lot of choice. >> isn't it fascinating? we were being lectured on fiscal restraint, once again, this happened last year by the french, by the germans, by the italians, it seems that if this is the future, we're behind the curve. >> but there's one other thing. there's got to be a third element to policy. it can't just be stimulus, obviously. it can't just be what the germans are saying. whatever happened to the idea that governments are meant to create an environment in which growth can happen? not to overtax. not to overregulate. to support free trade. to support legal immigration so the most talented people can come and stay in this country. what government needs to do is set the table. create a context in which businesses, particularly small and medium-sized businesses, which we know are the real job generators in the world, where they can operate and succeed. that's missing from today. >> that's the argument that chris christie is having not in europe but right across the river. >> coming in.