Page 3 - Debt Trajectory News Today : Breaking News, Live Updates & Top Stories | Vimarsana

But we've neglected our military and there's a massive cost of rebuilding the military the longer you neglect it. same with interstates and bridges. secondly we can't sit -- i have my colleagues that come on all the time on tv and that say we need to bomb isis and be ready for north korea and have missile defense and they name these litany of things but then vote against giving the people the funds to do it. that said, with the deficit issue, the problem is -- and we all know this, just nobody talks about it -- 75% of federal spending congress doesn't even have control over, we don't appropria...

Martha: key credit rating agencies are now saying that $85 billion in automatic spending cuts is simply not enough to prevent them from downgrading u.s. credit. they say the u.s. government would have to do a lot more to reduce the deficit if we want to avoid having our credit rating come down again. wow! steve hayes joins me now, senior writer at "weekly standard" and fox news contributor. steve, welcome. >> good morning, martha. martha: we were told this would be devastating affect to the economy if the sequester kicked in. now we're hearing from ratings agencies will not cut it. it is not e...

Speak. >> adding urgency, the approaching december 31 deadline where the temporary bush era tax cuts expire. huge cuts to the military budget and other federal programs kick in. potentially causing a second recession. still, most economists agree that massive debt is not of itself a sign of economic armageddon. >> what matters more than the level, the trajectory. it's determined by decisions congress has yet to resolve. >> we literally can't do it without controlling the rate of growth of the healthcare entitlements over time. and stabilizing social security. at the same time, reforming our ta...

The obama team has already put out a web ad that i'm sure will be coming to a tv set near you, and this is an excerpt of it. >> a paul ryan medicare plan turns medicare into a voucher system. >> the paul ryan budget which cuts aid to the disabled, aid to immigrants children, which cuts aid to the elderly. >> the cuts here are so dramatic, they are so painful. >> the democrats might call that the rap sheet against paul ryan. how is he going to handle this? >> first of all, if you look at the president's record, david, let's look at this. wait a second, we've had a credit downgrade in this count...

Be coming to a tv set near you, and this is an excerpt of it. >> the paul ryan medicare plan turns medicare into a voucher system. >> the paul ryan budget, which cuts aid to the disabled, which cuts aid to immigrants' children, which cuts aid to the elderly -- >> the cuts in here are so dramatic, they are so painful -- >> the democrats might call that the rap sheet against paul ryan. how is he going to handle this? >> first of all, i think you have to look at the president's record, david. let's look at this. wait a second, we've had a credit downgrade in this country. we had a president who p...