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On global basis. china has it. asia has it. we don't. if countries need capital like greece or portugal or spain or the u.s., we have 200 debt options per yeyear. we have to compete for capital. rates can't say where they are now. we could see a ratcheting up of interest rate as, which will, could implode the bond market. the debt market this may mean ultimately where it wind up. if you can't pay the debt off. what do you inevitably have to do? you got to write it off. >> that won't happen. >> then you get spontaneous writedown of global debt under crisis.

It's a gigantic problem. because the debt is so massive. i read a story today, we may not mathematically be ever able to pay this debt off. what are we doing to our children? and the debt is getting worse. we know that the deficit from this year is $1.35 trillion. right? our debt ceiling was just raised, this will cover us for the year they say, if nothing happens, to $14.3 trillion. now, you add in our unfunded liabilities, which are $107 trillion. it's even worse. put those two together, $121 trillion. it's worse than that. it's worse than that. because we have more. other things that aren't...

It's a gigantic problem. because the debt is so massive. i read a story today, we may not mathematically be ever able to pay this debt off. what are we doing to our children? and the debt is getting worse. we know that the deficit from this year is $1.35 trillion. right? our debt ceiling was just raised, this will cover us for the year they say, if nothing happens, to $14.3 trillion. now, you add in our unfunded liabilities, which are $107 trillion. it's even worse. put those two together, $121 trillion. it's worse than that. it's worse than that. because we have more. other things that aren't...

>> what matters is we try to fix the country's problems. let me just show you. this is the debt the cbo says we'll have, giving our children a lower standard of living. our plan pays the debt off. so we really believe we need to own up to the fact that the country is on an unsus tainl path and we've got to do something to fix this. >> you know, there's a lot of angles there. there's a few different colors in there. charts, don't you love charts? one thing about charts. somebody shows up with charts, that means they're prepared or ready to explain exactly where they want to take the country. co...

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