Page 32 - Debt Problem News Today

Cuts and they won in the event they follow through on this reckless threat we support the use of 14th amendment. the 14th amendment says the validity of the public debt shall not be questioned. leader of the house democrats urged the white house to ignore congress in this case. >> i would do in a second. im not the president of the united states. >> the house republican leadership aide says democrats refuse to responsibly address the spending problem and rather than offer solutions they choose t...

And were not meeting our own needs for our people here at home and yet america is just expanding around the globe. we have to start focusing on the real needs of this country, and when we do that, we also need to look at the structure of how we handle our money, because, it is out of control. people are concerned about having a disinmr. ed approach towards spending. theyre absolutely right. it is a question of priorities. we have to go back over that. but you dont send a country over the edge wh...

Everybody knows you have a spending problem. if you dont, if you say we dont you are trying to avoid it or you think the economic growth will get you there. just look, 17 months ago we increased debt to get to $2.1 trillion. its all gone. that could be a budgeting problem. fiscal problem. also a debt problem. at that rate, we will spend, have a debt of at least another $1 trillion a year. that is $4-$5 trillion in the next administration. real money. >> bret: tom, thank you. good luck on the spe...

Taxes enough to actually meet our needs. this is going to be something where every single part of our society is going to have to get on sort of war footing in order to really be responsive to it. fortunately, we still dont see that. >> jonathan chait, the wise jonathan chait writes, the eternal folly of the bipartisan debt fetish. i consider the long-term debt problem a problem were solving but mass unemployment and climate change are more urgent problems. notably, talk shows have given over li...

President! and then the president said to him, mr. speaker, im getting tired of you telling me that. but look, to say we dont have a spending problem would be like the greek president saying we dont have a debt problem. the first stage of recovery, steve f an addiction is to at least acknowledge that you got a problem. and maybe thats why these negotiations broke down, because the speaker told me not once during all of those five weeks was the president ever really very serious about cutting spe...

Debt somewhat lower than americas. the share of gdp. its a distribution of the debt thats a problem. you have the counties in the south and northern countries that dont want to pick up the tab for it and the nexus of the problem, a dispute of how to get paid for. you know, if you think about it, thats a little bit of what we have going on here. neither democrats or republicans disagree theres a debt problem and nobody really disagrees that the problem is fixable as the numbers you quoted tell us...

American people elected me to do was to put forward a balanced approach, to make sure that theres shared sacrifice. >> so to both of you, mr. bowles first, what would you specifically call on the president to do on medicare that hes been unwilling to do heretofore? >> first of all, david, if you look at the combination of what was done in the budget control act, the cuts there, and in this cliff deal, its about half of what we need to do in order to fix our debt problem. weve got about $1.6 tril...

You are not only going to cut your way to prosperity. one of the fallacies that has been promoted is this notion that deficit reduction is only a matter of cutting programs that are really important to seniors, students, and so forth. that has to be part of the mix. but what i ran on, and what the american people elected me to do, was to put forward a balanced approach. to make sure that there are shared sacrifices. >> to both of you, mr. bowles, first, what would you call on president to do on ...

What is coming up? >> our top story sa $1 trillion answer to our governments problem? it might be the answer to my debt problem. and do college freshmen think they are better than they actually are? it is first year students and no freshmen you sexist pigs. fine, that didnt answer the question. no you didnt answer the question. and what british rocker might get an airport named after him? i gave you two hints, and you would not want him to be an air traffic controller. tonight a third hint. it i...

Earning things. >> you are a republican in hawaii? >> yes. >> how does that feel? you need a friend? do you need a hug? [ laughter ] democrats control every level of government in hawaii. the state income tax rate is 11%. the highest in the country. also the highest in the country, food stamp benefits. hawaii has a deep debt problem and also a severe homeless crisis. do you think there is a big homeless problem here. >> yes, there is. >> you are okay with all the food stamp benefits being paid h...