Page 7 - Debt Down News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Here now to analyze, fox business network star lou dobbs. all right, so how does the debt affect the regular folks? the working americans? >> this massive debt, $20 trillion, this is part of the burden that future generations will have to pay for. it also adds to the inflation rate. more dollars, chasing fewer goods, the classic economic paradigm. the reality is, this debt overhangs everything we do. and the president correctly focused on this during the campaign. >> bill: but he's not going to bring the debt down, t particularly in his first term. it is going to go up because he wants to do a...

Think about, every one percentage increase in growth over a decade reduces the debt by 3 trillion dollars. the math shows you get the debt down -- >> that's a big increase. >> that is a big increase. >> we can do it, ben. >> emily, we have so much on our backs. how much is the average american carrying in this debt load? >> yeah. so the national debt per capita right now is around $60,000. for taxpayers it's about $100,000 more than that. as a young person, i don't know how i can emphasize enough, this is not monopoly money. we have people coming out of college with an average of about $35,000...

They want to get the deficit down, the debt down, but not prepared to close a single tax loophole in order to reduce the deficit, not for hedge fund owners, not for big oil companies, so they beat their chests and say, let's deal with the long-term deficit but not asking the folks at the top to pay one penny. >> your hometown newspaper editorial, not aimed at you, but at the president, what the waup waum editorialized about the decision to delay the mandate. yes, republicans have done everything they can to implead implementation of this law, but none of that excuses president obama's increasi...

Personal assault on the man, the country and his party. and the achievement of this country in the last presidency. and to ask for that, give me that was never a negotiation. it was a personal insult to the president. >> well, i think what the president did here was to say i'm going to govern. and yes, we need checks and balances. and he in fact met with republican senators all through the summer on the budget and has clearly showed at the end of last year in his negotiations with speaker boehner that he wants to do something long term on the budget to bring the debt down, but it has to be a b...

Deal. >> well, that's problematic, but what i think we could do and the reason that i have included a provision that requires a budget conference, a long overdue budget conference, is there could be a substitution of some of the mandatory spending cuts such as the farm bill, which saves $23 billion over ten years, for some of the cuts in defense and biomedical research that are very troubling to me personally. >> have you spoken, either one of you, spoken to senator reid since he rejected this compromise proposal? >> well, i have talked to a number of people in our leadership, and i think you ...