Let me briefly mention a few steps that could be taken to increase the economy's potential over time — immigration policies that attract
workers with scarce skills to the United States; education policies and job
retraining programs that build and replenish
human capital; spending on infrastructure to remove bottlenecks; tax simplification and the elimination of tax policies that distort investment and saving decisions; regulatory policies that are attentive to costs and benefits and that emphasize getting the incentives right.