Page 32 - Debt Clock News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Has a look at part two in our series "the cost of spending." >> the national debt clock spinning faster every year. we have all seen it before. >> do you see that clock up there? $16 trillion in debt. >> used as a prop at campaign events. >> when this campaign began it was a heck of a lot less than that. >> you can walk by the main debt clock in new york city, west 44th street and avenue of the americas. but when you really stop and look at it for awhile maybe even stair at it, frankly it is scary. as of today every household in the united states owes about $140,000 of this debt, every single ...

Go back to the national debt clock. remember, we were staring at it it early in series. the debt to gdp or gross domestic product ratio is at 102%. the highest since just after world war ii. that is with extremely and historically low interest rates. even at these rates, that interest will cost the u.s. more and more every year. $222 billion in interest payments on the debt this year. $570 billion by 2022. at current rates. >> this stuff is no joke. we have a big interest to keep the interest payments low. also, incidentally keeping interest payments low so we can, so that other parts of the e...

For every dollar they brought in, it spent $200.06. it runs a deficit. deficit is a one-year shortfall that has to be made up by borrowing. the national debt total accumulated debt is the sum of all the annual deficits. less any surplus. it's the running count. we hear politicians talk about deficits and the debt all the time. >> the debt. >> deficit. >> debt. >> deficit. >> bret: how to get politicians to come to some agreement to get the debt clock slow down or tick back the other way continues to be the challenge. but first, where we have been. >> take a look at the debt through history. th...

There? $16 trillion of debt. >> used as prop at campaign events. >> when the come pain began it was less than that. >> you can walk by the main debt clock in new york city. west 44th street and avenue of the americas. but when you really stop and look at it for a while, maybe even stare at it, frankly, it's scary. as of today, every household in the united states owes $140,000 of debt. every single household. the u.s. borrowed roughly $6 billion every day. the country is borrowing $239 billion each hour. that is $4 billion every minute. in the time that this started, u.s. has already borrowed ...

Incidentally, democrats really feel as though they have the political upper hand here. i think most people would agree they do. they want to strike now while the iron is hot. alex? >> okay. thank you very much from the white house. what would happen if we actually went over the fiscal cliff? joining me with answers now "washington post" economics columnist neil irwin. so all this talk of capping tax deductions and raising taxes on the wealthy, how much might any of this actually help the national debt? >> you know, these are things that would certainly change the pathway and make the medium ...