It's going to be an uphill battle. In an election year, it would be enormously hard to get more than token cuts.

I think the focus on the currency and some aspects of the economy is really a waste of time, at best, and at worst, a distraction from important issues, like Korea, Iran.

He is opening the debate on entitlements. I think he wants to break the taboo on Medicare.

I don't know what would be worse, maybe a tariff on infant formula.