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Something miraculous happens. we turn off the water and the next day they are able to pay their bills. that's a little bit strange but then when you do have half of the city not being able to pay their bill and claim we are going to cut you off. >> of course some people will try to milk the system and they can't afford to it and they have been used to the status quo. >> a lot of people like that. >> until they are forced to do it. we need exact statistics on that. i understand where the u.n. is coming from. but the leadership has to come and infrastructure in the state of michigan. >> there is...

Row's deficit and debt problems led s&p to downgrade the u.s. credit rating for the first time in history. >> geithner steered the major economic moves in the first term, now he's stepping down at treasury. the pick to replace him is jack lew, who has established a close relationship with the president. he is know chummy with the republicans on the hill after the debt ceiling negotiation. for that reason and other, his looming confirmation hearing could be bumpy. but if confirmed, lew will likely be dealing with the top issue in this second term, how to get the economy moving and addressing th...

>> geithner steered the major economic moves in the first term and now he is stepping down. president obama's pick to replace him is jack lew, who has established a close relationship with the president. lew is not is chummy with republicans on the hill after the debt ceiling negotiation back in 2011. for that reason and others, his confirmation hearing could be bumpy. if confirmed, he will be dealing with the top issue in this second term, how to get the economy moving and addressing the country's long term fiscal problems. >> this is a president that is forced to grapple with the budget woes...

425 billionaires in the united states with an average net worth of about 4 billion dollars each. if you confiscated all of their wealth, all of it in its entirety, it would basically take care of the u.s. deficit for one year. it does nothing to solve our long-term fiscal problems. >> greta: i don't think at that people realize, i haven't met a lot of billionaires, but read a lot about them. bill gates has done an enormous amount of good with his money in africa and people, billionaires making all sorts of contributions around the world doing good things, it's not like they're sitting around e...

425 billionaires in the united states with an average net worth of about 4 billion dollars each. if you confiscated all of their wealth, all of it in its entirety, it would basically take care of the u.s. deficit for one year. it does nothing to solve our long-term fiscal problems. >> greta: i don't think at that people realize, i haven't met a lot of billionaires, but read a lot about them. bill gates has done an enormous amount of good with his money in africa and people, billionaires making all sorts of contributions around the world doing good things, it's not like they're sitting around e...