He's saying so far there is sufficient flexibility that we can tolerate a higher deficit than we could 10 years ago. He didn't say ignore it.
We've seen a sea change in the way the financial markets and economy watchers are looking at the world, ... For many months, people thought the economy was so strong and robust, they could ignore these head winds.
The housing market is resilient, still going strong, but it would be a mistake to ignore the weakness in existing sales and assume everything is copasetic.
We can't ignore the trend -- jobless claims have been coming down. We're at least close to turning the corner on the labor market front.