Page 66 - Debt Problem News Today

This up, you are going down. this triple a rating that is investing sort of gold standard, you are going to lose it. a dozen countries have it now and half dont deserve it, us among them. but the implications are negative right now. what we are doing isnt stable and is only point to go negative. they obviously have to do the next thing and thats formally down grade but the next move is taking the triple a rating away. its been feared and people have been waiting for it, gretta, but it is going t...

>> bret: the back and forth, bring in our panel. fred barnes, "weekly standard." juan williams, columnist with the hill. indicated -- syndicated columnist fraught fraughtd columnist charles krauthammer. how big of a deal is this? >> not that big of a deal. we know we have a debt problem. particularly after the presidents speech last week, he launched a re-election campaign. after that, if you talk to republicans they will tell you they think the chances are less, particularly of any grand bargai...

This up, youre going down this triple a rating which is investing gold standard you are going to lose it. about a $countries enjoy that rating right now. half of -- whom i say probably dont deserve it, us among them. s&p is saying the implications are negative right now unstable what were doing isnt stable and is only pointing to negative. obviously, they gotta do the next thing, formally downgrade takeing that triple a rating away. it has been feared people have been waiting for it, but it is g...

And we crossed our fingers and our little toes hoping he would come to "studio b" and we spoke to his guy and, maybe later. but we will hear from him. details on blagos latest tirade unless breaking news changes everything. first from fox at 3:00 in new york, president obama kicking off a two day road trip to pitch the plan for the debt problem. in the first of a series of townhall meetings the president says he wants to cut spending and end tax breaks for the richest americans. >> we cannot jus...

Are stepping in and saying that is not right to do the skwrebgs generation wto do the nextgenert it now. jenna: weve heard that its a spending problem not a revenue problem. when it comes to the debt ceiling as a freshman who has seen these new issues and all the things that you just said, how are you going to vote on that? >> well here is the issue on the debt ceiling, i did not come to congress to raise more debt in america. i came to be able to deal with the debt problem. when we have to do i...

Relax. >> so how do you attack the deficit if you dont touch medicare, the entitlements as you well know, medicare, medicaid, social security? thats where the debt problem is. how do you address it? >> you know how you do it? by stopping whats going on in the world. the world is just destroying our country. these other countries are sapping our strength. opec is sapping our strength. we cant pay $108 a barrel oil. its sapping our country. and by the way, theyre going to raise it higher, because ...

What did it mean standard & poorz pointed out theres not going to be a deal between the republicans in congress and the president to somehow reduce our deficit and our debt over time enough to make the difference? what does it mean when they say were downgrading the quality of our credit? >> do you want me to go first? >> yeah. >> so i actually dont think that this particular warning from standard & poors is a reason for us to get all hot under the collar. you know, i think you would have to be ...

Debt problem sent wall street into free fall today. the dow jones industrial average fell 140.24. all three were down by more than 1%. a report means that a one in three rating could be lowered. david gergen is joining us. when you look at those numbers and look at what happened earlier today, how frightening of a wake-up call is this? >> its very serious. this is a canon shot. it was certainly heard in the markets. the standard and poors has been judging u.s. credit worthiness for 70 years. and...

That this particular warning from standard & poors is a reason for us to get all hot under the collar. you know, i think you would have to be a martian not to know the things that s&p told us which is the u.s. does have a deficit and a debt problem and that there is a real war going on between the democrats and the republicans over this. they didnt actually downgrade. they just said their outlook is a little more negative. i dont think we need to exaggerate the significance of this statement. >>...

>> do you want me to go first? >> yeah. >> so i actually dont think that this particular warning from standard & poors is a reason for us to get all hot under the collar. you know, i think you would have to be a martian not to know the things that s&p told us which is the u.s. does have a deficit and a debt problem and that there is a real war going on between the democrats and the republicans over this. they didnt actually downgrade. they just said their outlook is a little more negative. i thi...