Page 19 - Debt Level News Today : Breaking News, Live Updates & Top Stories | Vimarsana

of the turmoil on wall street has been triggered by fears over the european debt crisis and the anemic economies. and richard quest, one of the best people to turn to when we want perspective on the global economy. he joins us from london. what happened in the european markets today? >> reporter: the europeans went down initially and then down further and they rallied with wall street. we closed down 1% in london, and paris 1%, and frankfurt, once again the german market is being creamed by what is happening at the moment, by far and away being breutally attacked. and the german indu...

and hello and good morning to you all. millions of americans are in the grip right now of a massive heat wave. we will tell you which states are getting hit by this heat wave and there is a danger zone here, folks. we'll let you know how long this will last. also, a real power workout. people are producing energy by expending their own. we'll tell you how this works. also, really one of our favorite stories of the day here. caped crusaders taking to the streets in one northeastern town. yep, you're seeing superheroes. they're dressed up like them. talk to them this morning and th...

Track to get to 120%. the rising blue line is our projected debt level. we reach greek levels of debt in just 10 years. this is why we need to fix the problem now, before it gets worse. on those graphs is the assumption that interest rates won't go sky high. >> they are at historically -- or relatively low rates. if interest rate guess up 1, 2, 5 percentage point, we are then on the fast track to the poor house, as opposed to a medium speed amtrak, as opposeed to a fast train. and the government needs to make more money to make interest payments so we can't pay it on infrastructure and for len...

Track to get to 120%. the rising blue line is our projected debt level. we reach greek levels of debt in just 10 years. this is why we need to fix the problem now, before it gets worse. on those graphs is the assumption that interest rates won't go sky high. >> they are at historically -- or relatively low rates. if interest rate guess up 1, 2, 5 percentage point, we are then on the fast track to the poor house, as opposed to a medium speed amtrak, as opposeed to a fast train. and the government needs to make more money to make interest payments so we can't pay it on infrastructure and for len...

Believe there are. you are obviously not running for office but we should be taking all of the claims with a grain of salt because we just have to get through some of the overhang we have been through on the kind of debt problem? >> yes. again, we've got two challenge. one is we are still leveraging. we have a fragile housing market. we have balance sheets that are not healthy again. the excess consumption is not coming back so we have to sell more to people in the rest of the world and we have structural problems. it is not an easy hand it play but we shouldn't tell people there is not a shor...