Debt Wall News Today

want to break it down, it will determine the state of our economy in weeks and months and years ahead. first we need to look at the constitution. lets take a look. who is responsible for spending and borrowing? raising taxes, is it the president? obviously not, article i section 8: >> the first part of that. it is not a suggestion. it is not ambiguous this say choir power that legislature has, when you look at history, back to britain and the parliament with the king. this was somethin...

want to break it down, it will determine the state of our economy in weeks and months and years ahead. first we need to look at the constitution. lets take a look. who is responsible for spending and borrowing? raising taxes, is it the president? obviously not, article i section 8: >> the first part of that. it is not a suggestion. it is not a ambiguous this say choir power that legislature has, when you look at history, back to britain and the parliament with the king. this was someth...

They have increased a little bit, but they demand cuts, the guy said he cut 1.7 trillion, they are not proposing, that they want to slowly over 10 years reduce debt because were headed for a debt wall. children and grandchildren will be broke. he said, do to you seniors social security cheks checks will stop? really, social security does not need congress to authorize funds. social security benefits are considered mandatory spending, they are paid from the programs trust fund. the agency has fun...

They have increased a little bit, but they demand cuts, the guy said he cut 1.7 trillion, they are not proposing, that they want to slowly over 10 years reduce debt because were headed for a debt wall. children and grandchildren will be broke. he said, do to you seniors social security cheksz wi checks will stop? really, social security does not need congress to authorize funds. social security benefits are considered mandatory spending, they are paid from the programs trust fund. the agency has...

Face the true kwan drees of a particular moment in their history. all of their attention gets channeled into fantasy, spooks, sexual freakry, conspiracies, perversion narratives, save your fairy tales. its been quite a cavalcade of unreality the past six months from great values of the connoisseur of the bizarre until you are reminded a fate of a nation is at stake. what happens when we hit the debt wall, whats that like? >> when we hit the debt wall, we cant borrow from the future to pay for wh...

In new issuance that will hurt our recovery. >>neil: we should explain this to folks, but the fact is, we finance our debt selling treasury notes and bonds, and we have a lot of it, as jim was pointing out and the japanese and the chinese are the big buyers of it and if the japanese were to step and not around to their hold ensure that would be bad but if they were to sell it, you know, then, then, then, that could be a problem be right? >>guest: look, they have been selling their own government...

Taxes even more, or cutting spending and hes good to remember names if they dont remember what hes proposing then. >> look, the europeans have no choice. they have hit the wall. theyve crashed into a debt wall. people will not lend them any more money. they cant go on spending money because they cant borrow any. now, america is not in that position yet, but were heading straight down that road towards that debt wall. the president thinks he can buy time but spending more now, trying desperately ...

And the crazies in the street. >> europe hit the wall. a debt wall. people will not listened them anymore money so they have to stop spending and cut the debt. they dont want president obama to be out there calling for more spending but that is what he was doing. so you have a clash. on the streets what you have now is violence. >> they are not tea party people? >> if they were tea party people, they do not behave like that, but can you imagine what the mainstream media would have done about the...

Europe has hit a debt wall. it has no choice, but to cut spending, cut borrowing, cut the deficit. it has no choice. >> so by all accounts it seems were already there, are we? >> they already are, europe is there and were headed in that direction, precisely the same debt wall. were further away from that wall, but going rapidly towards it. the president is saying, were not there yet, were not there yet. well fix it later. right now we need to spend more money to get more jobs into this economy. ...