Page 25 - Debt Issue News Today

She annika roll brown were biopsy twins in the white house. on the other issues welfare reform and fiscal policy and terrorism, i would peg her as moderate. >> sean: we new numbers out today. cbs news reports 41% of u.s. children are now born to single mothers. we have a new record food stamps, 40 million americans, 1 in 8 on food stamps. heritage foundation report 1 in 5 rely on government for daily housing, food and health care. >> this is what we are seeing in greece. where this kind of level...

Talking about a massive debt. >> tony, this really comes down to spending cuts because part of what has to happen here for greece to get this bailout to the tune of $146 billion, theyve got to do some things on their own, so its got some strings attached to it. so greek officials are meeting today and theyll vote tomorrow on public sector wages and pensions as well as tax increases. so these protesters, youre talking about people who are teachers and bank employees and youre talking about doctor...

However, it doesnt work because there is not a balanced budget amendment that goes with it, nor a ban on earmarks that goes with it. you give these guys more money, theyre going to blow more money. its not what they need. dont give a coke head more blow. >> you know, rob, the debt issue weve got to deal with, this is one suggestion, but what does that do to the overall economy? >> yeah. i dont know why john would say the economy is fragile. fridays gdp numbers showed it grew again. 3.2%. consume...

That report card is now not the grade that it originally had been. consequently, its going to get more expensive for them to borrow money. this is a bad spiralling effect. >> art, do you want to weigh in on that? >> no. i think thats exactly correct, you know. there was a famous old book about world war i called the guns of august. barbara tuchman, the author, said the world stumbled into world war i # because everybody believed somebody would be smart enough to stop it. thats what i think every...

>> no, i would not. >> chris: with all due respect, sir waste an fraud, people have been talking about for years and dont you have to make benefit changes if you deal with the debt issue. >> i think you might have to make some but i think what you want to do first is -- >> such as what. >> getting the waste and fraud out. i think you have to have strict enforcement, understand that you have to have u.s. attorneys that go after this with a serious approach and realize that in order for these prog...

Adjustment. >> no, i would not. >> chris: with all due respect, sir waste an fraud, people have been talking about for years and dont you have to make benefit changes if you deal with the debt issue. >> i think you might have to make some but i think what you want to do first is -- >> such as what. >> getting the waste and fraud out. i think you have to have strict enforcement, understand that you have to have u.s. attorneys that go after this with a serious approach and realize that in order fo...

Sure thing, not a good bet in many cases. so, testify stephanie, why shou care about greece here in the united states? >> the concern is about a domino effect. the greek economy is small. but the fear is that greeces problems could affect the 15 other european countries that share the euro. economists worry about the debt issue spreading to what you may have heard of as called the pigs. spain, portugal, ireland and italy in particular. those are the other countries theyre really concerned about....

They have to avoid a shutdown in october. the house passed four of those 12 just a few hours ago. they have to keep the faa running. they have to deal with the debt ceiling, which is one of the most onerous issues in washington, and what is so striking about the debt issue and keeping the government open, nobody has a solution for that. when you talk about tax reform, this is one of the other things, they say you have to use the bt process, lowering the votes. that might force republicans to red...

Day? >> it was a roller coaster ride from the beginning. many saying hey this is not just about china or the fears of the debt issue. this is about a recalibration thats necessary for the markets. many people talking about the fact that u.s. stock prices are rises faster now and saying that there were a necessary reacquaint justment and then another wrinkle here and the damage thats hanging over the market for the last couple of years. its when theyre going to raise the rates again. theyre expec...

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