Many investors got burned badly by speculative growth, dot-com and concept stocks in the late 1990s. Seeing an ongoing regular cash return from an investment, therefore, made conservative investing and its income component much more attractive.

Even growth isn't really going to be a challenge for her. She just rolls into things so easily. She's a natural.

It is not all bad, this getting old, ripening. After the fruit has got its growth it should juice up and mellow. God forbid I should live long enough to ferment and rot and fall to the ground in a squash.

Efforts to restrain growth in mandatory spending are vital - not just for our near-term deficit reduction efforts - but especially for the long term. Toward the end of the next decade, deficits stemming largely from entitlement programs ... will begin to rise indefinitely. No plausible amount of spending cuts in discretionary accounts or tax increases could possibly solve this problem.

These are not cuts, these are modest reductions in the rate of growth.

We think we're going to see recovery by second half of the year and that growth can be quite brisk,