Page 30 - Tail Spin News Today

And tell me why john boehner is wrong, is wrong about the debt ceiling when he said it would be a financial disaster, thats what he said. if we dont raise the debt ceiling, that would be a financial disaster not only for us but for the worldwide economy. tell me why john boehner is so wrong. what is it he doesnt understand about the worldwide economy. >> lawrence, he is going against the will of 70% of americans, citizens who say we are tired of you raising the debt ceiling, dont do it. why? bec...

Wrong, is wrong about the debt ceiling when he said it would be a financial disaster, thats what he said. if we dont raise the debt ceiling, that would be a financial disaster not only for us but for the worldwide economy. tell me why john boehner is so wrong. what is it he doesnt understand about the worldwide economy. >> lawrence, he is going against the will of 70% of americans, citizens who say we are tired of you raising the debt ceiling, dont do it. why? because it is killing jobs. once ou...

Art smith make some macaroni and cheese. and i literally went into a tail spin about it. >> how much macaroni did you eat? >> oh, i ate about 30 pounds worth. >> heres a sneak peek at the premiere week on "piers morgan tonight "out. tomorrow night, howard stern, condoleezza rice, wednesday, thursday, ricky gervais and george choony friday. tonight, 9:00 p.m. eastern. morgan, if you get the last drop of coffee in the break room, you need to start a new pot. thats the cnn way. would you let your...

American people are facing two economic storms that continue to gather more strength. the first one, unemployment. weekly jobless claims rising to the highest level in five months, completely erasing any jobs created by the temporary census hiring. meanwhile, a far different story story than we heard from one of our nations top economists just a year ago. >> we think that the unemployment rate will probably peak early in 2010 and then come down relatively slowly after that. currently we dont thi...

Story. what are you finding out, lisa? >> the special inspector general doesnt take issue that some dealerships were closed but it was the pace of the closings, the number of closings, and the fact that the treasury department did not look at the potential impact on jobs. in 2009 general motors began terminating nearly 1400 of its dealerships nationwide. chrysler more than 800 dealerships. among those impacted, maryland auto dealer jack fitzgerald. four of his auto franchises were lost. >> it wa...

If you do it, you can borrow cheaply, you can spend the money now, and then you will get more growth and that will mean much bigger tax revenues, worry about the deficit later. he had a column i think a couple of days ago in which he said is this so difficult to understand? spend now when you need to jumpstart the economy, save later. >> i would say the u.s. has a kind of stay of execution while the european crisis unfolds, but at some point the nasty fiscal arithmetic will get any country, even...

Response or -- and certainly not something that was forced on us by the real economic environment but instead a bad decision. >> paul krugman, pleasure to have you on. >> good to be on. >> we will be right back. >> once you suddenly find your interest payments rising, its very quickly a shift into a death spiral, a kind of tailspin in which things compound. the greeks have been there. spain is there now. japan could be next. the uks teetering on the brink. no doubt! and progressive has great cov...

You trying to, you know, re -- sort of pump back up an unsustainable situation? these people, these companies should be come back down to more manageable levels of debt, and thats going to take a while. >> but why should lots of perfectly good productive capacity and millions of perfectly productive workers who have things to do that we all need be left unemployed while we do that adjustment? i certainly believe were not going to restore -- house prices are not going back to where they were. wer...

Okay. so weve now heard from both paul krugman and niall ferguson. so what do i think? well, i think that the case for government spending in the short term is pretty strong. the private sector is simply not hiring yet. consumers are also being very cautious. you cant motivate either of them any further with the traditional tool that used to be used, lowering interest rates, because interest rates are already close to zero. if the government were to slash spending in this atmosphere, it would pr...

Cheaply, you can spend the money now, and then you will get more growth and that will mean much bigger tax revenues, worry about the deficit later. he had a column i think a couple of days ago in which he said is this so difficult to understand? spend now when you need to jumpstart the economy, save later. >> i would say the u.s. has a kind of stay of execution while the european crisis unfolds, but at some point the nasty fiscal arithmetic will get any country, even the united states, which is ...