frank resident and chief executive of the american bankers association. of thehe 25th governor state of oklahoma and we are honored to have him with us today. you look at the mood. floyd norris writing up the cbo, the budget getting better, jamie dimon talking about what to do with the cash. why are we so miserable in oklahoma and other parts of the nation if we seem to be doing so well? >> thank goodness for federalism because at the state level, bad governance will result in bad results and good governance will result in good results. we moveds governor from 45th per capita income to 38th over my eight years. i was only the third republican governor to the state, the only one really did but we passed right to work and constitution through a democrat house and taxes, government of welfare and all those things but at the national level, as all of you know, the big crisis is demographics. medicare, medicaid, social security, interest of the debt. by 2025 every cent of tax revenue will go to that and that alone. that is why the gloom exists. >> i going to rip up the script. minimum wage. in zÜrich, switzerland, the numbers work up to $12 and here in new york, seven dollars? i