Page 22 - Debt Level News Today : Breaking News, Live Updates & Top Stories | Vimarsana

>> the united states' national debt level is highest it has been since world war ii. the congressional budget office is warning president obama's deficit commission that something has got to be done and quickly. by the end of this year, our debt level will represent 62% of this nation's economy. and it will rise to 80% in 2035, just 25 years out, and that means that simply paying the interest on the national debt will consume one-third of all federal revenue, just to pay the interest. and that's the budget office's most optimistic scenario. their worstication scenario has the debt level hittin...

A sort of uncontained debt restructuring and a huge financial mess? >> what does that mean? does that mean -- will they be willing to pony up enormous sums of money? >> the question you obviously ask, there is what are they going to do? will they put up enough money, if necessary to take these countries out of the mark forth some years, what they have done with greece? taken it out of the market for two or three years? would they do that in the money involved would be quite substantial, many, many hundreds billions of dollars or euros. >> can they afford it? >> the imf -- yes, they can afford ...

Problems without creating a sort of uncontained debt restructuring and a huge financial mess. >> what does that mean? does that mean will they be willing to pony up enormous sums of money? >> the question you obviously ask, is what are they going to do. will they put up enough money if necessary to take these countries out of the market for some years, which has affected what they have done with greece. they have taken it out of the market for between two and three years. would they do that. the money involved would be quite substantial. it would be many, many hundreds of billions of dollars o...

The politicians there will take the money and say now we swear the pledge, we're going to reduce the amount of money we spend in government? >> they agreed to $38 billion in cuts. >> david: words are cheap, vicky. >> talking about getting the debt level to euro zone. you can say the words are cheap but it doesn't leave you anywhere. this is an interim step to get greece, politician and people in the right steps. that society has to change a lot. half of the workers are unionized. they have fat pensions and nice salaries. they need to take cuts. there is heavy rioting and a reaction to this. sh...

Any kind of meaningful correction and now you've got concerns about greece, concerns about the u.s.-owned debt level and concerns about china needing to maybe slow down in its growth. all of this stuff feeding together. the volatility of a computer driven stock market and all of this stuff came together. so let's just look, can we look at that chart again? can we look at what happened yesterday? i mean, don, geez, i mean, i don't mean to sound like an old lady but i've been doing this a long time. to see the stock market decline 1,000 points in a matter of minutes is just unheard of. i will te...