438 Billion News Today

>> if you take a look at the chart, the red tidal wave of debt. sean, this is the most predictable economic crisis. >> ryans solution, of course, was to dramatically cut medicare, medicaid, social security. he never succeeded. once there was a republican back in the white house, so weird he became a lot less worried about the deficit and debt. as speaker he passed spending bills he didnt pay for, pushed through tax cut and the cbo added 1.9 trillion dollars to the debt. when ryan became speaker ...

Tax cuts which ryan argued werent enough. he was the deciding vote for bushs costly expansion of prescription drug benefits but then something changed, i dont know, barack obama became president and suddenly paul ryan became an evangelist who cast the debt as an existential threat. >> if you take a look at the chart, the red tidal wave of debt. sean, this is the most predictable economic crisis. >> ryans solution, of course, was to dramatically cut medicare, medicaid, social security. he never s...

Increasing military expenses, a soaring deficit has them at odds. robert costa joins me from cost cost, congressman costello and brown are back with me. i want to look at the deficit. when he came into office it was $438 billion. i think we have a graphic of shows how it went up according to the federal reserve, theyre saying it could be a trillion next year. whats the legacy of paul ryan? >> the cloud over speaker ryans legacy, before he even bay speaker, he mounted an ideological project to tr...

Lots of cardio, karate, jump training, yoga. >> we think we ought to contain and control and cut spending. we think we ought to get our deficits down, not up. >> we believe that we owe the american people a responsible balanced budget. >> balanced budget. deficits down, not up. that was ryans pitch. we all heard it. and then he got the gavel and he wielded it during two different presidencies. and, again, im just going to use the paul ryan standard, he failed. ryan became speaker in 2015 when th...

Right now you can deduct up to $50,000 in employers and employees put into a retirement fund. lets cut that deduction a $20,000. a 60% reduction and voila you are going to bring in more money. here is the other proposal. lets end all tax deductions entirely for all money that you put into your 401-k. the deduction for your employer or for yourself. lets then give you an 18% tax credit inside your retirement account so when you have to pay taxes, 20-30 years later youll have that as a credit to r...

500%, 400. this is where we are are right now. this here is about 2010. we are about 100% of gdp. double that in maybe 2030 or so. but if we stay on the current course without making any fixes our great grand children will have 700% of debt to gdp. theyville no economy. and even with fixes in healthcare reform 400% of gdp. and this is -- this is another shocker right here. interest on the debt, $438 billion for 2011. rising to $637 billion. these are omb white house projections. nearly a trillio...

500%, 400. this is where we are are right now. this here is about 2010. we are about 100% of gdp. double that in maybe 2030 or so. but if we stay on the current course without making any fixes our great grand children will have 700% of debt to gdp. theyville no economy. and even with fixes in healthcare reform 400% of gdp. and this is -- this is another shocker right here. interest on the debt, $438 billion for 2011. rising to $637 billion. these are omb white house projections. nearly a trillio...

That. will that have an uptick this season? >> 127 on average is what we are expected on average which 124 last week. >> billion? >> yes. $438 billion for the christmas. $15 billion for mothers day. $127. >> a person? >> per person. >> just to get that clear. >> lot of money on flowers and $2 billion on flowers. $3 billion on bun brunches, spa services, gift cards. >> what about the merger between con tin enal airlines? >> probably will happen. when that does happen, expect to be announced monda...

Number 1; right now you can deduct up to $50,000 that employers and employees put into a fund. lets cut that to $twint,000 and you cut it 60%. heres the other proposal -- lets end all tax deductions for all money that you put into your 401(k). the deduction for your employer and yourself, and lets give you an 18% tax credit inside your retirement account so when you have to pay taxes, 20, 30, 40 years later, that will be a credit to reduce tax. the problem is that it lets government collect up f...