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Trillion in debt that puts us on a path to becoming greece. the country's going to burn. >> what's calamitous is that we're becoming greece. >> the country will burn. you know what the u.s. did not become? greece. you know why we did not become greece? because we are not greece. it's a tiny economy that doesn't control its own currency and can't raise taxes on its people because they won't collect. we are the largest economy the world has ever known. we control our own currency. you know what that currency is? the dollar. the currency the rest of the world relies on. we're not part of the euro...

To do but nobody knew if that was going to be possible. so that was obviously an important accomplishment. now with the arab spring, i mean, what happens in that -- >> we still have the fallout. >> in lots of places. >> algeria -- >> exactly. >> mali, libya, all related to the single most consequential decision he made as president of the united states -- pushing out mubarak. >> right. >> nobody is still sure to do day whether that was the right call. doris? >> it shows you that the world is out there and that a president doesn't control -- as powerful as he is when he takes that oath today, w...

And other things like that that the president has some control over. is it fair to say, oh, it's external? is there anything really external to the president? >> external issues like a crisis concerning iran, which you were just talking about, or default of greece or something like that. those are events that the president doesn't control. but you're absolutely right to say that a down turn in the american economy, continual spike in gas price, those are things that voters believe are within the purview of the president and certainly there is every reason to believe that they will be at issue ...

His super-pac, which of course he doesn't control, has spent a lot of money on advertising. so they have a shot at winning. if they win iowa and new hampshire, it would be the first time a republican candidate, not an incumbent, to win both of those. then he'd be in a very good position for south carolina where the governor has endorsed him. >> want to throw to some sound. this is republican steve king. he is conservative in iowa, right? he hasn't actually endorsed anyone, and this explanation he gives may indicate why so many iowans have not decided, 41%, where they stand. take a look. >> if ...

Pay less than the rest of the tax rate. >> i think it's fascinating, front page of the times is the windfall for the ceos. they're going to get tens of millions of dollars of salaries, compensation again out of these stock options. and then on the front page of the business section is that a factory wages are in decline. this is this 1% 99% phenomenon we've heard so much about and people are so unhappy about in the united states. we have the ceos earning unbelievable amounts 500 times, 1,000 times what their workers are earning, unlike in any other part of the world. and we have a law which sa...