Page 15 - Debt Problems News Today

>> a couple things now that are going to be very tough if youre a progressive. guns is always tricky business because they keep records who voted against them. and this issue of climate. because i look at states like kentucky, west virginia, western pennsylvania. >> sure. you have democrats -- >> thats tough. >> but michaels right in one sense. that this speech was about emphasizing. he didnt flip on any issues. what he said in the speech he said in the past. but he spoke a lot to his own people...

Auto bailout a huge success. >>the bailingout of general motors helped him in ohio and michigan and on the campaign trail. >> geithner, a chief architect of tarp and a.i.g. made the case before congress for tougher regulations on wall street. it led to the dodd-frank bill that the president signed into law. >> there will be no more tax-funded bailouts. period. >> years of spending under both parties add up and the debt ceiling talks of 2011 led to a budget attend off between democrats and republ...

With that broad-based tax increase. keep some the money in the economy. thats good for the markets, thats good for folks working at different establishments and businesses and products. but there still a major problem out there, especially when you look at the u.s. deficits and debt and some investors are saying that congress still needs to address structural debt problems. >> if we get a fiscal deal that really addresses the long-term trajectory, that might be the final piece of the rubiks cube...

House? >> well, this is a good first step, bret. and i think as the day progressed and you started to see inclinations that a deal at least among leadership was likely going come down and the possibility started to increase, wall street started to really buy into the stock market. you saw stock prices increase, finishing up 166 points and the dow jones industrial average today and after market trading what is known as the futures jumped up after news that things were beginning to progress. wall ...

Welfare reform bill. >> yes, i agree with that. 2009, the health care overhaul. you had $858 billion tax package in 2010, the payroll taxes in 2011. having said that, jonathan, how much longer can congress continue to function like this? >> well, i think one of the reasons why nobodys really happy with the deal, not like a gut level. everybody recognizes there was some masterful negotiation going on between the vice president and senate minority leader mitch mcconnell, but nobodys like genuinely...

I think it will be. if we had the house bill on the floor weeks ago we would have amended it and we would have passed it and this thing would have tim donaghy a longtime ago. behind doors negotiations leads to a lot of intrigue and dysfunction. this place is so dysfunctional. you should bring the house bill to the floor and let every senator have their say about what they would like to see hapb. ther happen. there are 80 votes to avoid the fiscal cliff. here is the number one issue for me, whate...

Not to turn social security into private account. adjust the age for social security and cpi changes and means testing and look beyond the ten year window. i cannot in good conscience raise the debt ceiling without addressing the long-term debt problems of this country and i will not. >> chris: and you heard president obama say we have to get out of that habit. not going to start trading debt ceiling increases for spending cuts. >> i think the key to what lindsey is saying is that you dont affec...

Double-dip recession in britain. is it worth it for us here is the question? >> well, i wouldnt say its led to a double-dip recession. we had problems with the euro zone on our doorstep, but in the uk we had a huge problem with a high deficit. we can borrow money cheaply and investors are coming to britain so jobs are created. its a hard road when making progress, and i dont think western countries have an alternative p but to confront their problems, including their debt problems, and make sure...

Solve the countrys debt problems, law i can makers are using greece as an example of what could happen here. but republicans and democrats are taking away two lessons on how to avoid the same greek tragedy. mike emmanuel takes a look at that. >> republicans frequently argue it is critical to get a handle on the nations deficits before the u.s. becomes like greece. there a terrible economy with 26% unemployment, the highest in europe, and almost no job opportunities for young people frequently le...

Gets sicker and weaker. greece, for example, has seen its economy shrink by 7% in the last year. all of european is in recession now. the last official number was the economy actually shrank last month for all of europe as a unit. japan has been stuck for 23 years in a decaying economy. 23 years. and i think were seeing a pressure in washington for exactly the same pattern. thats whats happening in california, in sacramento. its whats happening in illinois, in springfield. its whats happening in...