Page 35 - Debt Clock News Today

You have to have, you have to find the people with a sincere discussion with. if your friends are like wow -- fine, move on. when you find someone who will listen, ask if they want restoration of the freedom and value and principles like accountability and honesty and personal responsibility. a chance to succeed and a chance to fail. if they do, ask them do you believe the government can run a program better than the private sector? they are going to say no. if they say yes, really? here is why ...

>> absolutely. take a look at the news story we had 10 minutes ago where social security as of right now is spending more than theyre taking in. they had estimated before it it wouldnt happen for six, seven, eight years. its happening today. >> and its going to get only worse. these numbers make no sense. they should face up to them. >> can we talk hope? the hope is that american people, wherever you go, theyre aware of this. the debt clock seems to be more prevalent now. >> theres more awarenes...

And the politics of this, 2010 and the concern about deficits, is this going to turn around for democrats or be a win for republicans. >> short-term politics for democrats are bad and helps republicans in 2010 and may help them in 2012. but the long term politics for democrats are good. because people are loath to get rid of a new entitlement and this is not a new argument, stan greenberg made it in 1992 in favor of the clinton health care plan, create a middle klaascla s class entitlement and y...

Your head spin and drive a group of bipartisan lawmakers to say we have to do something about it and one of the three republicans that is now joining the debt commission, new hampshire senator judd gregg and on the senate budget committee, ranking member and good morning to you, you call this a political charade. now you are on board. why this change -- >> that is not fair, bill you cant use my own words against me? who are you, harry reid? bill: sorry, sorry. continue! >> i said that at the tim...

January -- van jones. they have 200 million people living comfortably in middle class but another billion live in complete and total hell. not ve poverty, oppression. remember the gymnasts from 2008. this is a crazy show, isnt it? this is an exchange from the press conference after she won the medal. this girl. okay? they asked her are your parents here to see you compete among the cheering crowds? he said, "i dont know." well when was the last time you went home? "i dont know." when was the las...

January -- van jones. they have 200 million people living comfortably in middle class but another billion live in complete and total hell. not ve poverty, oppression. remember the gymnasts from 2008. this is a crazy show, isnt it? this is an exchange from the press conference after she won the medal. this girl. okay? they asked her are your parents here to see you compete among the cheering crowds? he said, "i dont know." well when was the last time you went home? "i dont know." when was the las...

People what not to do. >> some people will say were getting taxed over 50% and still running deficits and adding debt to the national debt. we have a debt clock, if we have that, id love to show that thing running if we dont mind. there it is. 12 1/2 trillion dollars in debt. $12.4 trillion in debt. how can we get away with an 11% tax and not just monsterly add to that? what else do we have? >> really simply, you cant balance a budget on the backs of the unemployed and people not earning income....

Economic committee hearing, that is not too crowded at the moment. its kicking off on the hill. well show you that inside the hearing room throughout the day so you can reach any conclusions. martha: then there is this for you, house representatives approving an increase in the u.s. debt limit. this is like raising the absolute ceiling on your credit card, okay, of the whole country, and its now a whopping 14.29, that is the absolute last dollar youre allowed to spend as the u.s. government, 14....

Say it doesnt happen and interest rates stay low, in 2009 we paid $283 billion just on interest to the debt we owe the world. this year is expected to be in excess of $500 billion. if we keep going the way were going and down get downgraded and keep spending, its like whatever. >> neil: people forget that. doesnt nothing doesnt mean the costs get cheaper. >> with the token freeze talking about the $17 or $20 billion freeze on spending, the non-defense discretionary spending is a drop in the buck...

Mortgages. this is not going to be pretty. show you charts here. if we were living in happy land, where we -- thank you, mortgage debt. no, go back to the charts now. if we were living in happy land, residential mortgage loans outstanding. oh, my gosh, everybody is looking out of debt. reverse this. and put it over here. the default line. blue line is distress mortgages for people 60 days late or more. these are the default. these are the ones where the bank is like okay, i think we have to take...