Detailed text transcripts for TV channel - MSNBC - 20111024:11:44:00
>> one last serious question for you. i don't think a lot of people grasp debt in abstract terms what that means in real life. i think people say, i don't know, we've been going along this way for so long. what is one or two real life consequences of run away debt that you can tell people about this morning? >> when the mortgage payment gets so huge that it's devouring a big portion of your budget, you don't have enough to put people to work. we will lose permanently our standard of living. we will lose worse than that the american promise of upward mobility for all and a stable, hopeful middl...
Source: news source