Page 12 - Debt Load News Today

Back in force lawlessly. and that is something thats not being mentioned. >> so you have an emergency manager now named kevyn orr. >> yes. >> he is the one whos been quoted in the papers, hes the one charged now with the state, with trying to negotiate a fiscal solution for the city. what is he doing now that you think, that you would be doing differently as the autonomous city government of detroit? >> one of the things that should be noticed is that the importance of renegotiating the debt loa...

>> the debt load young people are carrying grows as his earning potential shrinks is what youre saying. >> absolutely. the president has been buying lower unemployment rates by providing cheap student loans and keeping people out of the labor market. when they finally enter, they enter at low wages and part-time employment. we have the kind of problem spain has but the president has been papering it over. >> exactly. cheap student loans keep people out of the labor market. peter, thats a lucid e...

Destroying output, it could happen here. it terrifies me. >> what would trigger it would be sharply higher interest rates when people -- in order to buy our debt. not talking about just a few points here but dramatically higher interest rates where its impossible for us to pay our entire debt load. then becomes a point where we reach financial collapse. >> neil: when people dont trust their financial institution. but when its your bank bank, your passbook savings account, that is called into que...

There is any room for revenue at all. >> this is what you do when there is a mistake in a game. you call time-out. i am sick and tired of hearing the republicans saying that the president got new revenue. that was the expiration of the bush tax cuts. everybody with a brain knows that. thats not new revenue. that doesnt take us beyond the rates that we used to have. but this is the republican strategy. you have to negotiate with them on their terms or youre not going to save jobs in america. john...

But in this case, i dont think there is any room for revenue at all. >> this is what you do when there is a mistake in a game. you call time-out. i am sick and tired of hearing the republicans saying that the president got new revenue. that was the expiration of the bush tax cuts. everybody with a brain knows that. thats not new revenue. that doesnt take us beyond the rates that we used to have. but this is the republican strategy. you have to negotiate with them on their terms or youre not goin...

This. if we dont solve the spending problem here in washington, there will be tens of millions of jobs in the future that wont happen because of the debt load that is being laid on the backs of our kids and our grandkids. >> well, then why dont you take the deal the presidents got on the table, mr. boehner? republicans are willing to see people lose their jobs. they are willing to see projects and services fall by the wayside. this is the new mantle of obstruction. president obama is using all o...

>> hope springs eternal. the president can sit down tonight and work with the democrats to move a bill. its time for them to act. yet we see nothing. >> do you have a sense of how many jobs will be lost as a ot.ult of the sequester? but i can tell you this. if we dont solve of spending problem here in washington, there will be tens of millions of jobs in the future that wont happen because of the debt load laid on the backs of our kids and grandkids. i came here to save the american dream for my...

>> they certainly did the best they could in bad circumstances. i think getting a deal and avoiding a recession is a victory that thud be recognized. getting some permanence to the tax code is a victory that should be recognized. ace said this is far from a slam dunk. we have a lot of work let too do and quite frankly democrats alcohol the white house and the senate and they need to do some of that work. bill: its amazing through all this debate on this latest issue that no one talked about how ...

If you own a software company that employs 100 people, you are supporting 139 people in the state on that other list that work for the government or are welfare recipients or pensioners. the other factor they looked at was credit worthiness. they took a statement, what is their debt load for paying for all of this. what is the business climate like. how many businesses are leaving the state because of regulation. home values. they also looked at the unemployment rate. thats the credit worthiness...

Ingredient here? >> here is the good and the bad news, chuck. theres one missing ingredient and that is for the next president and the next congress to nail down some of the fiscal issues, scaling back the cliff, the debt ceiling, laying out a path to fiscal sustainability. the deficit reduction we need in the long run is to stablize the nations debt load. what we need to do is very clear. that is the good news. the bad news is we have to execute on that. that will be difficult. thats why i thin...