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I can't tell you that anybody running for governor is going to successfully do it. i can tell you this. i have a record of taking on the tough issues and a record of balancing the interests. i'm not afraid to take that issue on. >> the second big one is debt. it's called the california wall of debt. according to california common sense, it's $443 billion, $218 billion in retirement is owed, $126 billion in bond payments, $64 billion in infrastructure commitments, $22 billion in deferred payments, almost $7 billion owed to the federal government, $4.1 billion in inter fund. this state is bankru...

Average to $5, it would zap $218 billion in consumer spending over a year. money for things like restaurants, vacations and trips to the mall would instead go straight to the gas tank. >> what i might have to do is stay home a little bit more often, work from the phone. >> reporter: while president obama is on vacation in hawaii purposefully keeping quiet on iran's provocations, the u.s. is responding forcefully. the u.s. navy vowing that any disruption will not be tolerated. this eased concerns in the oil markets but with america and iran facing off in these troubled waters nothing is certain...

Mar tifrn sal martin savidge with the latest information. thank you, martin. nina, back to you in london. a heavy costs. swiss insurers said 2010 saw a huge spike in damages from human and natural disasters. economic losses from disasters last year totalled no less than $218 billion, that's more than three times greater than in 2009. $48 billion of the damage was insured. the largest came from the chile earthquake, that was $8 billion. the bp gulf of mexico oil spill cost about $1 billion, you can see on the chart behind me. but this year's total will certainly eclipse even last year's spike...

Japan. catastrophes carry a heavy cost. a swiss insurer says 2010 saw a huge spike in the cost of damages from natural anhui man caused disasters. economic loss from disasters last year totaled $218 billion. that's more than three times greater than in 2009. $48 billion of the damage was insured. the largest loss came with the chile earthquake, $8 billion. bp gulf oil spill cost $1 billion. this year's total will almost certainly eclipse last year's spike already new zealand's damages estimated $6-12 billion and the japanese earthquake and tsunami could be a total more than $300 billion. you...

Bp following the worst oil spill in american history. bp spokesman says the company does not have any evidence the personal information has been misused but it mailed letters to notify those involved of the situation. as of today, has paid out about 3. billion dollars to more than 150,000 people seeking claims. with, between the oil spill in the gulf, the earthquake in haiti, the wildfires in russia. 2010 was an expensive year for insurance companies. the insurance company swiss reinsurance reports the cost of cleaning up after the disaster's tripled last year from $68 billion in 2009 to $218 ...