feulner. he has authored eight books.plause] also, a person who is wrote a fabulous book about the history of the civil war. i am looking forward to this panel. make you stick around for it. it will be a great time for economic insight. i am looking forward to it. >> good morning. i have to appreciate the irony of cpac, titling the panel the smartest guys in the room. with all respect, we just had to follow a neurosurgeon. [laughter] that economics is not neuroscience, given how the united states congress understands economics or not does not bode well for their economic iq. years ago, i was at my college roommates wedding. i was talking with the groom's father who had not seen in several years. he was not familiar with the nonprofit group where i worked. have that elevator speech but described the work of my organization, so i reverted to my d.c. speak. i said, it is a think thank. i expected his eyes to open with profound clarity and his head to non-with understanding. every body knows what a think tank is. after a two-

my name is edwin feulner, for the next 13 days i am the president of the heritage foundation. [laughter] i'm delighted to have with us in this morning my successor as the new president of the heritage foundation can, senator jim demint. we're very happy you're able to join us this morning for our 17th annual lecture. i welcome you all. it's good to see so many friends here, and it's particularly happy occasion for us to be able to co--host the reception -- can co-host the reception afterwards with our good friend, the ambassador from the republic of korea. it's a very special time for korea. we celebrate the first anniversary of chorus, and we celebrate and commemorate the 60th anniversary of the end of the korean war. today we have a number of other significant guests who are here with us representing the samsung company from their new jersey headquarters, mr.m.j. han. mr. han, we're happy to welcome you here on behalf of the chairman of samsung, our good friend and longtime member of the heritage foundation. we're delighted to have so many members of the diplomatic corps her