Page 9 - Deficit Problem News Today

The government to do things, nadia. >> no, no, no. >> you think the government has to take care of you. >> one thing we need ed to realize and im glad we are excited about this and having fun, but we are t not so different from one another -- democrats and republicans. none of us think it is a good thing to have a deficit problem. we are all trying to solve it. the difference between democrats and republicans is the democrats think its important to fund the supplemental nutrition assistance prog...

Creation. welcome, senator. >> thanks for having me on. >> arent you glad youre in the private sector now? >> well, i am. its a little frustrating to watch whats going on. >> i cant even imagine. this idea of passing a series of bills to fund certain parts of the government, is that a good idea? >> it gets to the same end. its ironic and a little amusing that at some point you basically have a clean resolution, you have a clean continuing resolution if you fund in parts most of the government. i...

The american middle class. >> lets talk about the budget. the government runs out of money on december 30th that raises another government shutdown. while the president talks about higher taxes or spending and investment as he puts it, the gop says the sequester must stay in place, $109 billion in the next fiscal year maybe reconfigured but $109 billion but billions of dollars more in spending cuts. they say cut spending. other than the republicans surrendering, whats your plan to avoid a govern...

The american middle class. >> lets talk about the budget. the government runs out of money on december 30th that raises another government shutdown. while the president talks about higher taxes or spending and investment as he puts it, the gop says the sequester must stay in place, $109 billion in the next fiscal year maybe reconfigured but $109 billion but billions of dollars more in spending cuts. they say cut spending. other than the republicans surrendering, whats your plan to avoid a govern...

Either side of the aisle that dont believe in infrastructure. and i dont know a lot of people on either side of the aisle that dont believe in educating the next generation. >> but theres a deficit problem and we cant afford to spend more money. >> if you look at where we are today, were not where we were in 2011. we have actually worked together. its been a messy process, but weve worked together and reduced the deficit considerably. in the budget control act, we reduced the deficit on ae discr...

Dramas. but the house republicans, many of them have talked about doing precisely that. you know, people like paul ryan, john boehner, they say were not going to increase the debt -- the debt limit for nothing. what do you say to them? >> you know, i would say to them what i would say in private, what i would say publicly is the same thing. they know they cant go back to where they were in 2011. it was a terrible thing for the economy. the world has changed since 2011. in 2011 we hadnt done a gr...

Place. i agree. this is a political solution to a problem that barely exists, frankly. there are people -- >> wait, wait. back up. when you say barely exists, you saying people going over the border -- >> "the wall street journal" had an editorial on this calling it the border security ruse. our border is safe as its been in decades, that legal entries are at an all-time low practically. i also happen to be in the camp i think we need workers. im just not on board with this at all. but the point...

>> anyway -- in the fall of 2005, we had inadequately responded to it, it had taken hold and damaged the presidents credibility. president obama will have the same kind of outcome if he has an inappropriate or ineffective response to this, we need our president, particularly when our economy is in a weak position, when we have this huge deficit problem, we have to attacken tig entitlements. unless he does something, this slide will continue. when this poll came out that had these numbers -- >> b...

>> anyway -- in the fall of 2005, we had inadequately responded to it, it had taken hold and damaged the presidents credibility. president obama will have the same kind of outcome if he has an inappropriate or ineffective response to this, we need our president, particularly when our economy is in a weak position, when we have this huge deficit problem, we have to attacken tig entitlements. unless he does something, this slide will continue. when this poll came out that had these numbers -- >> b...

-free is good. -free is very good. [ male announcer ] now get 50% off brake pads and shoes at meineke. is americas deficit problem so bad? well, not any more at least, not for the next decade. the congressional budget predicts, they did it on tuesday, that in 2015 the deficit will be only 2.1% of gdp, thats down from 4% this year, 7% last year and a high of 10% in 2009. so, should we celebrate? joining me are glenn hubbard, the dean of the columbia business school chief economic adviser to the...