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Foreclose, if prices go down significantly from here. >> let me move on. i want to talk about the deficit and i also want to talk about taxes. here are the deficit projections from the president's 2011 budget and the numbers are, frankly, staggering. if you look at the deficit for 2010, 1.56 trillion. through 2015, they estimate it comes down with $751.9 billion. how serious is this, secretary paulson, assuming also that ten-year projections are often wrong? >> oh, i just have no doubt that it is by far the most serious long-term challenge we as a nation face. all these other issues, economic ...

Foreclose, if prices go down significantly from here. >> let me move on. i want to talk about the deficit and i also want to talk about taxes. here are the deficit projections from the president's 2011 budget and the numbers are, frankly, staggering. if you look at the deficit for 2010, 1.56 trillion. through 2015, they estimate it comes down with $751.9 billion. how serious is this, secretary paulson, assuming also that ten-year projections are often wrong? >> oh, i just have no doubt that it is by far the most serious long-term challenge we as a nation face. all these other issues, economic ...

Fortunately, the evidence suggests that the vast majority, as hank was implying, of these types of homeowners, that is those with the standard conventional mortgages, do continue to pay on their mortgages even if the value of the home is below the market pri price. what worries me particularly is that there is a very large bloc that will be thrown on the market, people starting to foreclosure if prices go down significantly from here. >> let me move on. i want to talk about the deficit and i also want to talk about taxes. here are the deficit projections from the president's 2011 budget and th...