Page 2 - Debt Trajectory News Today

But weve neglected our military and theres a massive cost of rebuilding the military the longer you neglect it. same with interstates and bridges. secondly we cant sit -- i have my colleagues that come on all the time on tv and that say we need to bomb isis and be ready for north korea and have missile defense and they name these litany of things but then vote against giving the people the funds to do it. that said, with the deficit issue, the problem is -- and we all know this, just nobody talk...

Martha: key credit rating agencies are now saying that $85 billion in automatic spending cuts is simply not enough to prevent them from downgrading u.s. credit. they say the u.s. government would have to do a lot more to reduce the deficit if we want to avoid having our credit rating come down again. wow! steve hayes joins me now, senior writer at "weekly standard" and fox news contributor. steve, welcome. >> good morning, martha. martha: we were told this would be devastating affect to the econ...

Speak. >> adding urgency, the approaching december 31 deadline where the temporary bush era tax cuts expire. huge cuts to the military budget and other federal programs kick in. potentially causing a second recession. still, most economists agree that massive debt is not of itself a sign of economic armageddon. >> what matters more than the level, the trajectory. its determined by decisions congress has yet to resolve. >> we literally cant do it without controlling the rate of growth of the heal...

The obama team has already put out a web ad that im sure will be coming to a tv set near you, and this is an excerpt of it. >> a paul ryan medicare plan turns medicare into a voucher system. >> the paul ryan budget which cuts aid to the disabled, aid to immigrants children, which cuts aid to the elderly. >> the cuts here are so dramatic, they are so painful. >> the democrats might call that the rap sheet against paul ryan. how is he going to handle this? >> first of all, if you look at the presi...

Be coming to a tv set near you, and this is an excerpt of it. >> the paul ryan medicare plan turns medicare into a voucher system. >> the paul ryan budget, which cuts aid to the disabled, which cuts aid to immigrants children, which cuts aid to the elderly -- >> the cuts in here are so dramatic, they are so painful -- >> the democrats might call that the rap sheet against paul ryan. how is he going to handle this? >> first of all, i think you have to look at the presidents record, david. lets lo...

And im not sure who would care much if i had. >> i think actually thered be a lot that would. >> i want to know, actually. >> governor, looking at the current debt trajectory we have, i think we can agree this is not the doing of an administration but administrations. this has spanned over the process of decades. now that youre the chief executive of a state, looking back at your time in retrospect at omb, what do you wish you would have pushed for when you were sitting in the seat of the office...

evening here in the nations capital. just to underline the peril facing the united states economy, and the american people, democratic officials familiar with the presidents speech expect him to say the country right now is, quote, in imminent threat of default. with only about one week left for democrats and republicans to agree on a deal to raise the debt ceiling. in a speech earlier today, the president alluded to the bitter political grid lock between both sides. >> are we a nation...

Trying to work together to come up with some kind of a solution, a budget that would help the nation get out of its debt crisis. senator coburn explaining why he is dropping out of those talks at least for now. joining us now, alabama senator jeff sessions. he is the ranking republican on the budget committee. what does his departure, at least for now, what does it mean, senator? are we going to get a budget or not? >> what it means is we need to move forward and get a budget. ive always believe...

Do can come up with an agreement that will make a big dent in that debt trajectory. >> reporter: treasury secretary timothy geithner says he does not need to reassure overseas buyers. >> theres a lot of confidence in the capacity of this economy to grow, to make sure that we can meet our commitments or obligations. >> reporter: but a house democratic insider told abc news that this just throws gasoline on the bitter debate over raising the nations debt ceiling. if congress doesnt take action by ...

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