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Okay here is the middle of the decade. we're still $607 billion away from that. here is what we're taking in and here is what we're spending, this should be zero and these two must match. he must have meant 2016. 2017, no no, it's down from the year before but 2018, 2019, 2020 -- oh, boy, it's getting bad. mr. president, i could be missing something or, what is the old-fashioned word, lying. which is it? deficits through 2020. his explanation for this obvious discrepancy was. [ laughter ] >> glenn: the interested on the debt, i know. here i thought we were being honest. my goodness, that is so...

Okay here is the middle of the decade. we're still $607 billion away from that. here is what we're taking in and here is what we're spending, this should be zero and these two must match. he must have meant 2016. 2017, no no, it's down from the year before but 2018, 2019, 2020 -- oh, boy, it's getting bad. mr. president, i could be missing something or, what is the old-fashioned word, lying. which is it? deficits through 2020. his explanation for this obvious discrepancy was. [ laughter ] >> glenn: the interested on the debt, i know. here i thought we were being honest. my goodness, that is so...

Get my glasses out. >> that's a bad sign there, chip! >> [laughter] >> little fine print in the budget, mr. president. you said that this budget is not going to add to the credit card as of about the middle of the decade. and as robert gibbs might say, i'm not a budget expert and i'm not an economist, but if you could just explain to me how you can say that when if you look on page 171, which i'm sure you've read, it is the central page in this, the decifits go from $1.1 trillion, down to $768 billion, and they go down again, all the way to $607 billion, in 2015, then they start to creep up ag...

Actually i'm going to have to see get my glasses out to read. >> that's a bad sign there, chip. >> a little fine print on the budget, mr. president. you said that this budget is not going to add to the credit card as of about the middle of the decade, and as robert gibbs might say, i'm not a budget expert and i'm not an economist, but if you could just explain to me how you can say that when if you look on page 171, which i'm sure you've read, it is the central page in this, the deficits go from $1.1 trillion down to $768 billion, and they go down again all the way to $607 billion in 2015. the...

China held $321 billion in u.s. debt. now they hold $907 billion in u.s. debt. an increase of 182% in five years. who holds the upper hand in this negotiation. kt macfarland is the former assistant deputy of defense. >> you can't pick a fight with your banker. not only do we owe them a trillion dollars. but every year, every dollar we spend, 50 cents of our dollar is borrowed. the largest lendser is china. not only do we owe them a lot of money, we'll owe them more money going forward. megyn: what do we have to talk to them about. what are we asking for other than please keep lands and don't j...