Page 8 - Deficit Problems News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Now what the report shows is okay. well, that added about $4.6 trillion cumulatively over the next ten years in debt. the debt service is going to be enormous. it's crowding out everything. like you say, it will be at an all-time high -- or nearly an all-time high, more than 3% of national income pay just to service the public debt by the end of the decade. >> right. you talk about crowding out. >> by the way, more than not only defense but more than all of the civilian programs of our government. >> everything. >> yeah. >> except, of course, medicare and medicaid. >> exactly. >> and speaking ...

Preferred a bigger deal that included spending cuts. >> a grand bargain, whatever you want to call it, that solves our deficit problems in a balanced and responsible way, that doesn't just deal with the taxes, but deals with the spending in a balanced way so that we can put all this behind us and just focusing on growing our economy. >> reporter: the president said with this conference, by which he meant this partisan conference, that's too much to hope for. early this morning after the senate vote he released a statement that read in part, this agreement is the right thing to do for our count...

For families with children. it would extend our tuition tax credit that's helped millions of families pay for college. it would extend tax credits for clean energy companies creating jobs and reducing our dependence and foreign oil. it would extend unemployment insurance to 2 million americans out there actively looking for a job. i have to say that ever since i took office, throughout the campaign and the last couple months, my preference would have been to solve all these problems in the context of a larger agreement, a bigger deal, a grand bargain, whatever you want to call it, that solves ...

Families pay for college. it would extend tax credits for clean energy companies that are creating jobs and reducing our dependence on foreign oil. it would extend unemployment insurance to two million americans who are out there still actively looking for a job. i have to say that ever since i took office throughout the campaign and over the last couple of months my preference would have been to solve all these problems in the context of a larger agreement, a bigger deal, a grand bargain, whatever you want to call it, that solves our deficit problems in a balanced and responsible way that doe...

Coming from the far right wing of the republican party and be held accountable to it. >> let's listen to the president a short time ago before we hit the air. >> i have to say that ever since i took office, throughout the campaign, and over the last couple of months my preference would have been to solve all these problems in the context of a larger agreement. a bigger deal. a grand bargain. whatever you want to call it. that solves our deficit problems in a balanced and responsible way. that doesn't just deal with the taxes but the spending in a balanced way to put it behind us and just focus...