and we cannot afford gridlock, orono action. gridlock means going over the fiscal cliff and risking another recession. it means not addressing the challenge of mounting future debt until events overtake us and we lose control of our economic destiny. we need to act now to preserve a more prosperous future and to show that our democracy actually works. thank you. [applause] >> thank you very much, alice. thank you, pete. thank you alan. thank you, erskine. we will have a few questions. mike lux is when exactly 21 minutes when the time i think for everybody to ask a question. have more information on the table. i'm going to start with john, john kennedy did not get to ask a question, and i would rotate, built. >> thank you very much, mr. chairman, and thank all for you for your excellent work. it's been constructive to the process in an inn measurable way, in my judgment. i think we've had a structural deficit situation for at least six, maybe seven or eight years. and one of the frustration -- frustrations i've had is trying to e