Page 29 - Budget Problem News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Thanks for joining us. let's talk about those union rules and the conflict over the budget and union jobs in indiana. how is this going to be resolved? >> peacefully and successfully, andrea. we don't have a budget problem out here. we've been in the black throughout the recession. we did it by keeping spending over the last six years, about a third the rate of inflation. and we will pass or well on our way to passing another balanced budget with ample rainy day reserves in case the economy turns down. again, we did all of this without a tax increase. almost the only state to do so. so any deb...

>> i agree with doug. this is not a partisan thing. we've got to get past this distraction of the immediate this fiscal year budget which does cause problems if it isn't addressed. and then we've got to get onto the longer run really fast. we've got to do it now because you can't do it quickly. when it has to do with people's retirement, you can't change that overnight. you have to change it slowly over a long period. but you need to start now to show that we can do it. >> there's actually a playbook that we could run that's been successful. if you need to control a big budget problem and you ...

Entitleme entitlements. i'm assuming you agree? >> i agree with doug. this is not a partisan thing. we've got to get past this distraction of the immediate this fiscal year budget which does cause problems if it isn't addressed. and then we've got to get onto the longer run really fast. we've got to do it now because you can't do it quickly. when it has to do with people's retirement, you can't change that overnight. you have to change it slowly over a long period. but you need to start now to show that we can do it. >> there's actually a playbook that we could run that's been successful. if y...

All have, could we see this in the united states? this is as clayton pointed out over massive budget cuts. we have a huge budget problem here in the united states and republicans, some on the tea party side of things, want to cut 100 billion from our budget. so, could we see similar protests here. >> clayton: let's talk about the scale though, obviously the united kingdom much smaller than the united states and gdp. they want today cut, health care, welfare and a million public sector jobs. 3000 police officers in one town alone. imagine that, that's a quarter of the police. >> dave: imagine. ...

Are you willing to do a short-term measure? if not, how does it get resolved? >> the only way to resolve the budget problem, and the debt is a problem. we have countries that we owe money to. government borrowing at this expense drives up, has a tendency to drive up the interest rate. the way we fix budget problem we have to look at the long-term overall view of budget. our costs are driven by the healthcare cost. the best way to reduce the debt is keep them healthier to balance the budget and reduce our overall debt there will be a way for us to do this, but we have to work decisively now. in...