Page 22 - Budget Problem News Today

Zone. u.s. troops withdrawing from haitis capital two months after the earthquake struck. some are criticizing that move in questioning whether their local police can maintain order. crunching numbers and counting days. your states budget problem may cost you a speedy tax refund and well tell you why. phone calls. with sprint, for the same price, you get unlimited text, unlimited web and unlimited calling to every mobile phone in america. now, thats more like it. [ male announcer ] $69.99 for ...

Reforming the entitlement programs. >> reporter: take social security, for instance, which is now paying out more than it takes in, with the federal government making up the difference. former fed chairman alan greenspan headed a commission to help save social security back in 1983 and he says more changes are necessary. >> benefits are going to have to be pared in conjunction with tax increases to resolve this very serious long-term budget problem. >> reporter: he was disturbed to see the senat...

>> take social security, for instance, which is now paying out more than it takes in with the federal government making up the difference. former fed chairman alan greenspan led a committee. he says more changes are necessary. >> benefits will have to be pared in conjunction with tax increases to resolve this very serious long-term budget problem. >> he was disturbed to see the senate vote 97-0 recently to make social security immune from any actions of a proposed debt commission. >> that said t...

Entitlement programs. >> take social security, for instance, which is now paying out more than it takes in with the federal government making up the difference. former fed chairman alan greenspan led a committee. he says more changes are necessary. >> benefits will have to be pared in conjunction with tax increases to resolve this very serious long-term budget problem. >> he was disturbed to see the senate vote 97-0 recently to make social security immune from any actions of a proposed debt comm...

Long-term budget problem. >> in our remaining moment here, secretary paulson, i have to ask you about financial regulation, about bonuses on wall street. do you see real changes happening on wall street? are you frustrated by the level of bonuses were seeing? >> well, you asked two questions. firstly, theres no doubt to really bear their own losses, but i would like to see that frustration, that anger channelled toward the regulatory reform. i just think thats very critical. and to me one thing ...

Long-term budget problem. >> in our remaining moment here, secretary paulson, i have to ask you about financial regulation, about bonuses on wall street. do you see real changes happening on wall street? are you frustrated by the level of bonuses were seeing? >> well, you asked two questions. firstly, theres no doubt to really bear their own losses, but i would like to see that frustration, that anger channelled toward the regulatory reform. i just think thats very critical. and to me one thing ...

Gotten to the point in this country where spending is untouchable. i have no doubt that we have to raise taxes in order to close this huge deficit. but we cannot do it wholly on the tax side because that would significantly erode the growth in the economy and the tax base and the revenues that would be achieved would be far less than anybody expects. we have to recognize the fact that one of the things that we have to do, as tough as its going to be, is that benefits are going to have to be pare...

More than they are doing to try to rein them in? >> i think this year, you simply have to give the administration, by and large, a pass. it did inherit a very weak economy, it inherited programs that were intended to compensate for that, theyre very expensive. the thing they own is the next ten years. so any administration can put whatever it wants in a budget. it controls it completely. so when you see this budget and look at 2020 and see a big budget deficit still ten years from now, when the ...

Heading into 2018? is this sort of a reset? >> it gives him a little momentum going in. and republicans needed that. they needed a large win. they hadnt won legislatively. so this kind of gives them a little bit of flrg goienergy go it. but also a lot of legislation happening. a budget problem that needs to be dealt with. there is daca. there is chip. all these things that have to be happen delved right now and thats not an easy way to start 2018 and hes taking a lot of different directions. >> ...

Latest updates on this topic.