Page 33 - Debt Problem News Today : Breaking News, Live Updates & Top Stories | Vimarsana

$20 trillion our deficit is approaching. something has to be done. is this the right thing? >> you know, sandra, what's really scary about that figure is it doesn't capture all the ways in which the government is indebted. all the promises we've made to all these americans over the generations. all the guarantees we've made to things like pension programs and everything else. if you look at our total indebtedness, it's real easy to get depressed. one thing nick mulvaney was right about. if we can't get our economy growing we've got to get this economy growing. we've got to add jobs. we've got ...

You've got to err on the side of growth because you're not going to solve the debt problem and definitely not going to be able to put the people back to work like i know the president wants to do. julie: the congressional budget office projects the federal debt will grow by $10 trillion if we don't meet that 4.5% increase in our economy in ten years with these tax cuts. >> well, they're assuming that you're going to continue to grow -- or, excuse me, you're going to continue to spend without any reductions anywhere, and i think we all know that's unrealistic. so i think congress needs to be di...

Explodes over the next 25 years is because they're predicting very low economic growth. they're predicting austan, 1.8%. i believe if you look at the 1950 to 2000 the economy grew at about 3 to 3.5%, not 1.8%. yes i think we can grow faster and the tax cut will help bring about some of the growth. john, i'm not saying that we can only, you know, it's only growth that will get us out of this debt problem. i'm saying if we don't grow faster than 2%, we're never going to bring this debt down because you just don't get enough jobs, you don't get enough income and tax revenues to make that possible...

Congress have traditionally. you go back to the 1920s, 1930s and 1940s, and the debt ceiling debate has been used to step back and say okay, why do we have a deficit problem? why do we have a debt problem and how can we fix it and we'll come up with ideas to raise the debt ceiling and try to address the long-term reasons that we have a debt in the first place. >> you're not someone who voted for a lot of budgets when you were in congress. why -- this doesn't look like a budget congressman mulvaney would have supported? why would you support keeping the deficit. i feel like congressman mulvaney...

Fight. when you are talking about no entitlements touched. i didn't hear that from mick mulvaney. i heard let's wait and see what it looks like in the real budget in may. >> two points. first on what we heard from the omb director, i think it's indisputable when you look at the outline of the document, president trump is following through on what he said he would do on the campaign trail, and that's a feather in his cap. you have to give them back. unfortunately one of the things he said he wouldn't do on the campaign trail was reform entitlements, and that's a mathematical necessity. jonah we...