438 Billion News Today : Breaking News, Live Updates & Top Stories | Vimarsana

>> if you take a look at the chart, the red tidal wave of debt. sean, this is the most predictable economic crisis. >> ryan's solution, of course, was to dramatically cut medicare, medicaid, social security. he never succeeded. once there was a republican back in the white house, so weird he became a lot less worried about the deficit and debt. as speaker he passed spending bills he didn't pay for, pushed through tax cut and the cbo added 1.9 trillion dollars to the debt. when ryan became speaker in 2015, the deficit was $438 billion. this year with unified republican government it's up to 779...

Tax cuts which ryan argued weren't enough. he was the deciding vote for bush's costly expansion of prescription drug benefits but then something changed, i don't know, barack obama became president and suddenly paul ryan became an evangelist who cast the debt as an existential threat. >> if you take a look at the chart, the red tidal wave of debt. sean, this is the most predictable economic crisis. >> ryan's solution, of course, was to dramatically cut medicare, medicaid, social security. he never succeeded. once there was a republican back in the white house, so weird he became a lot less wor...

Increasing military expenses, a soaring deficit has them at odds. robert costa joins me from cost cost, congressman costello and brown are back with me. i want to look at the deficit. when he came into office it was $438 billion. i think we have a graphic of shows how it went up according to the federal reserve, they're saying it could be a trillion next year. what's the legacy of paul ryan? >> the cloud over speaker ryan's legacy, before he even bay speaker, he mounted an ideological project to try to contain the deficit, back in 2008. he promised reps if they took power, he would do his best...

Lots of cardio, karate, jump training, yoga. >> we think we ought to contain and control and cut spending. we think we ought to get our deficits down, not up. >> we believe that we owe the american people a responsible balanced budget. >> balanced budget. deficits down, not up. that was ryan's pitch. we all heard it. and then he got the gavel and he wielded it during two different presidencies. and, again, i'm just going to use the paul ryan standard, he failed. ryan became speaker in 2015 when there was a roughly $438 billion deficit he and oversaw the growth of that deficit to $793 billion. ...

Right now you can deduct up to $50,000 in employers and employees put into a retirement fund. let's cut that deduction a $20,000. a 60% reduction and voila you are going to bring in more money. here is the other proposal. let's end all tax deductions entirely for all money that you put into your 401-k. the deduction for your employer or for yourself. let's then give you an 18% tax credit inside your retirement account so when you have to pay taxes, 20-30 years later you'll have that as a credit to reduce your taxes. the problem is it let's government collect up front from you money ahead of ti...