Page 4 - Fred Block News Today

>> first, ours does get to balance. if you have better growth, ours gets to balance pretty quickly. but if you look at the chart, to put it in perspective, for the last 40 years, the federal government has taken 20 cents out of every dollar made in america to run the federal government. what this path that we are right now on, that the president is proposing says, by the time my kids are my age, lets take 40 cents to pay for the federal government. by the time my grandkids are raising their gran...

Loans, housing loans, business loans, home loans, all of that is really expensive. it shuts down and slows down the economy. at the same time, you can have an inflation problem that can get out of control. so your money isnt buying much because of the federal reserve -- >> sean: last question. >> so america is greece. americas broke if we stay on this path. you are saying that everything that has happened in greece comes here. is that what you are suggesting? >> yes. we think its a debt crisis, ...

Plan for getting government spending and borrowing under control and paid off. >> sean: let me go back to this chart here. as you know, they have demonized you ever time have you talked about dealing with the -- the foundation in terms of the problems that are the root cause of the problem, thats entitlements. >> thats right. >> sean: the green line is the republicans budget propoafs. you are saying the current path-- the red block there, that that is the president and the democrats plan. >> yes...

Balance. if you have better growth, ours gets to balance pretty quickly. but if you look at the chart, to put it in perspective, for the last 40 years, the federal government has taken 20 cents out of every dollar made in america to run the federal government. what this path that we are right now on, that the president is proposing says, by the time my kids are my age, lets take 40 cents to pay for the federal government. by the time my grandkids are raising their grandkid, we are taking 80 cent...

Loans, housing loans, business loans, home loans, all of that is really expensive. it shuts down and slows down the economy. at the same time, you can have an inflation problem that can get out of control. so your money isnt buying much because of the federal reserve -- >> sean: last question. >> so america is greece. americas broke if we stay on this path. you are saying that everything that has happened in greece comes here. is that what you are suggesting? >> yes. we think its a debt crisis, ...

Limited government, a debt-free nation for your children. the sooner we do that, the easier it is to accomplish. the more you kick the can, the more imper periled our economy becomes. >> sean: people seem to be short sighted and myopic and think for the moment. if you look at the total government spending and you have the presidents plan -- i have another chart i will put up -- and what they show as total government spending as a share of the economy, theres the current path and there is your pa...