Page 43 - Debt Issue News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Their political analysis, which says, see, the two parties are not going to be able to come together in washington to deal with this debt issue before 2012, because politics is going to get in the way? >> no, not at all. in fact, you have two distinct issues here. one is, you have the fundamental difference between democrats and republicans. with respect to medicare. we said we can reduce our deficits by doing things like asking the richest oil companies in the country to pay their fair share of taxes. so we want to reduce deficits, but we want to do it the right way. the republicans have said...

From stable to negative. i'm going to quote someone from the agency. we believe there is a material risk that u.s. policy makers might not reach an agreement on how to address immediate and long term budgetary challenges by 2013. some warnings or cautions to investors about how we are going to handle our budget issue, our debt issue, and of course this is all happening while congress is on vacation and we are still not sure what is going to happen with the debt ceiling vote in a few weeks. we'll keep an eye on the markets now down 200 points. brand-new stories and breaking developments as well...

He's basically responding the fact that there is a long term debt issue which is why lawmakers on capitol hill come forward with visions on how to address it he's talking about reaching a bi-partisan agreement in all of this. seeing if they can get together and do that. you feel that the language here is clearly a step behind. >> yes. they know that the pressure is on president obama. lead in this debt crisis. so far president obama has come up only with tack the rich, and maybe do a little cutting here and there. where as the republicans under paul ryan have come up with a plan to reduce debt...

They feel it plays to their strengths. vibrant, robust defense. extreme targeted deficit reduction that they believe is going to be popular around the country. if president obama does not do well in the debt issue, they want to hit it there. the one thing is they are really opening up a flank in terms of the entitlement game. remember, republicans did well in the older voters in the 2010 midterms. 65 and older, that group will be up there for the taking, democrats feel, because of this type of plan, even though it doesn't affect anybody 55 or older, democrats are going to frame the narrative. ...

Wait a minute how is that good news for anyone? what it means that wages aren't rising but prices are rising so that means the paychecks are shrinking. i don't understand how that is good news for americans. jenna: i don't know if i can explain that. >> and they are printing money like crazy. we saw the wholesale prices that came out just this week, which show .7% increase. that is a big number. jenna: let me stop you there when we talk about wholesale prices, consumer prices, these are really readings on inflation. the higher the inflation the less our money gets us especially if you're wages...