Page 39 - Lock Box News Today

Savings happen and none of the-- >> let me put it back. so they say 6.2 trillion is added to our debt. are you saying that the government accountability office is lying to the american people? >> i dont believe that 6.8 trillion is going to be added to the debt. >> sean: the government accountability office is lying and what obama is telling is true. >> im just disagreeing with the numbers. >> sean: youre disagreeing with the number. >> youre the one that throws the word lying around, not me, i ...

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East of knoxville, near the virginia border. storm claimed at least 34 lives in tennessee. the lucky folks, if you can call them the lucky ones who escaped with their lives, now theyre left to sift through the rubble of their homes. >> here it came and it just, everything was hitting the building and the building even lifted up and back down. ive got some of our clothes and stuff, but some of them as you can see, back through the trees and i found -- i have a lock box, a fire safe box i keep the...

It means that youre robbing money. >> its borrowed anyway, theres no money there. the government has borrowed the money thats supposedly in this lock box. social security essentially owns u.s. treasuries, first and foremost. number two, i thought this was a good idea two years ago. i didnt think that this would get through, but it did, but its money in the hands of the american worker. thats the most important thing, but this year, more money is going out of social security than is coming in thr...

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Because, do you know to the effect of this year in and year out is going to be extraordinarily damaging down the road and in addition, it could change the dynamics of interest rates to make what the federal reserve is doing on the other side fall apart. instead of rates coming down, rates could go up and instead of the dollar giving us a benefit or it could get stronger or and on and and suddenly a situation where the private sector supposedly is recovering and we know from history when the priv...

The new lock box, what you do you make of it? >> how did that social security lock box go? thats all i can tell you. i must tell you, charles, this is disheartening for me. the republicans come in, talk about cutting deficits, fixing the spending problem and this is the only answer? this is quite disheartening, if im then, theyve got to realize they won the election and get in front of the cameras, three years ago we spent 3 trillion less federally and thats where were going to. and forget the o...

The only reason there is pressure on washington to do something about the deficit is because were in dire straights with the economy. >> sean: we have to deal with the entitlements. i dont have a problem dealing with entitlements. >> but the last president that tried to do it, george w. bush -- >> sean: it didnt work. >> he grabbed the third rail and put his arms around it and hugged it tight. he thought it was in the interest of the programs long-term ability to continue to exist for your kids,...

The only reason there is pressure on washington to do something about the deficit is because were in dire straights with the economy. >> sean: we have to deal with the entitlements. i dont have a problem dealing with entitlements. >> but the last president that tried to do it, george w. bush -- >> sean: it didnt work. >> he grabbed the third rail and put his arms around it and hugged it tight. he thought it was in the interest of the programs long-term ability to continue to exist for your kids,...

>>neil: congressman, both parties have raided it. lately you have been raiding it for a vor right. >>guest: i am not here as a partisan. >>neil: but to say it is lock solid until 2036 knowing full well there is no lock box and that there is no exclusive trust fund, is not representing reality. >>guest: that money belongs to the american people and people will get their benefits if you need to adjust social securitys revenue stream, raise the cap. that is not, that is something that is doable. an...