Page 29 - Debt Problem News Today

In congress are only talking about bringing spending down to about 20 or 19% of gdp, but if youve got tax revenues that are at 16% of gdp the math doesnt work. even if you take the most conservative position on this, youre still looking at a debt unless you get taxes into the mix. >> or growth, or growth. >> i agree with toby on growth. absolutely we ought to be focusing on growth and jobs. the fourth thing if you want to go after the debt long-term youve got to go where the money is the way tha...

>> and we have a debt problem. and we have to pay our bills. >> all right, but were borrowing 46 cents of every dollar. >> the deficit is the symptom, it is spending that is the disease. i mean, over the last ten years, federal spending has almost doubled in the economy and only increased about 15 to 16% and working families, they have the income increase at all. it is a spending problem. and right now, the presidents taking spending from 20% of the economy to about 25 and its on its way to 40. ...

>> and we have a debt problem. and we have to pay our bills. >> all right, but were borrowing 46 cents of every dollar. >> the deficit is the symptom, it is spending that is the disease. i mean, over the last ten years, federal spending has almost doubled in the economy and only increased about 15 to 16% and working families, they have the income increase at all. it is a spending problem. and right now, the presidents taking spending from 20% of the economy to about 25 and its on its way to 40. ...

>> 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...

Hour government cant cut 2% from spending. i think its outrageous. but the tea party people will be waiting for this tour to come about and these cities across the country. we will be waiting -- >> what are they going to do? >> we wanted less spending and lower government involvement -- [overlapping dialogue] >> jamie: chris? >> i hate to burst your bubble, but if the tea party was such a powerful political force, you would have shown it in the last election, you are losing in state after that -...

Entitlement spending is the bigger part of the budget that creates more than a debt problem down the line. its stupid to disproportionately target the pentagon, which particularly is targeted and stupid to disproportionately target discretionary spending. we have a stupid debate going on over a stupidly designed spending cut. jon: despite this fuss over these cuts, isnt the federal government going to spend more money this year anyway? >> it will spend slightly more money this year than it did l...

Thing. we have not had serious discussions about dealing with our debt problem for the next two, three decades, and weve got to do that. but time is running out and were not going to do that in the next eight days. the president did hold out the olive branch where he said lets do a smaller package of cuts and revenue enhancements that he said wouldnt kick the can down the road but, in fact, it would kick the can down the road but its a whole lot better than shutting the government down. and wher...

Increases from spending cuts. now you hear republicans saying no more tax increases. were not going to raise new revenue without significant tax reform. harry reid says were not going to cut entitlements without significant new revenue. those things now are totally decoupled. those were the ingredients of a grand bargain. that leaves the white house unable to substitute anything for the sequester cuts. they have no play right now, except to say gloom and doom, the sequester cuts would be a disas...

It will happen, but lets assume it is. what weve done is weve kicked the can down the road. weve done nothing to deal with the debt problem in a serious way. if weve done anything to deal with the debt prog problem, its in the first ten years. the second ten years the debt explodes the way were going. it explodes. it will destroy the economic framework of this country. eventually the people are going to wise up and say, okay, democrats, do something real. republicans, lets do something real. som...

I wear a lot of hats. well, technically i wear one. the u.s. postal service®, no business too small. ♪ >> well this just in. the debt problem is gone. you didnt hear? its gone. the word the president didnt utter because apparently its a problem we dont have. nothing says no issue like not talking about the issue. im telling you, from the president to prom mant leading democrats, its like the whole debt issue disappears. spending isnt a problem, which could explain why proposing hundreds of bi...