Entitlements Problem News Today

>> like you have rarely seen him on race and politics. do you think america is more or less racist since the inauguration of the first black president? >> i think what barack obama is going through the race. >> michael jackson. >> i watched him transform himself from the child he was to the figure he became. all those facelifts and distortions. i found it to be a very sad, sad journey. >> this is "piers morgan tonight." good evening, we start with breaking news tonight. a live shot f...

less racist since the inauguration of the first black president? >> i think what barack obama is going through is more about race than anything else. >> michael jackson. >> i watched him transform himself from the child he was to the figure he became. all those facelifts and distortions. i found it to be a very sad, sad journey. >> this is "piers morgan tonight." good evening, we start with breaking news tonight. a live shot from downtown new york. the clock is ticking on a potential...

>> i think what barack obama is going through the race. >> michael jackson. >> i watched him transform himself from the child he was to the figure he became. all those facelifts and distortions. i found it to be a very sad, sad journey. >> this is "piers morgan tonight." good evening, we start with breaking news tonight. a live shot from downtown new york. the clock is ticking. a potential confrontation of the group occupy wall street. they have to clear out by 7:00 tomorrow morning ...

The status quo to stay in place. when are we going to get serious about cutting spending? and our members want to take this leap forward, because it has to happen and it needs to start now. >> but mr. speaker, if you were serious about cutting spending as you just said, wouldnt you deal with the biggest culprits in the budget? because youre not doing that. its all -- >> hold on. >> youre not dealing with the military or entitlements, youre dealing with about 16% of the budget. >> in is the first...

But these republicans! either way, we had to give the tax cuts to the rich. this is redistribution of the wealth. when it comes to cut, you say ive got to cut entitlements and social security, ive got to give you more pollution. isnt that redistribution of wealth to the top? >> the misdirection is even beyond that. we hear people say we have an entitlements problem. thats going to sink us in the long term. social security, aside from not being 234 trouble has helped keep us solvent for all these...

The uks teetering on the brink. and at some point i think in the next couple of years the reality will be that the paul krugman recipe ends up having costs that exceed the benefits. >> what else do you do? do you wait and hope? >> whats frustrating to me is the way the discussion is conducted it seems like there is only a keynesian option and the alternative is just sort of passively waiting for disaster. i think there is a better strategy that we could adopt. imagine radical fiscal reform that ...

Which things compound. the greeks have been there. spain is there now. japan could be next. the uks teetering on the brink. and at some point i think in the next couple of years the reality will be that the paul krugman recipe ends up having costs that exceed the benefits. >> what else do you do? do you wait and hope? >> whats frustrating to me is the way the discussion is conducted it seems like there is only a keynesian option and the alternative is just sort of passively waiting for disaster....

>>reporter: kent conrad is a conservative democratic hawk and is leaving the senate, retiring at the end of the term and he says that would free him up to be honest about how dire the fiscal situation is referring to his belief that the president needs to deal promptly with the long-term entitlements problem and it wasnt just kent conrad but the ranking democrat on the house committee today said that the president and the white house feed to get about sitting down with members of congress, repub...