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Within ten years, but i dont think we can count on that. So lets plan for the worst, right . Yep. Thank you. Thank you, senator graham. Senator blumenthal. Thank you, mr. Chairman, and thank you both for being here today. Thank you both for your extraordinary service. To our nation. I would agree with my good friend, senator graham, in his assessment that we are on a path to repeal the very unfortunate and unwise cola cuts in retiree pensions that were a flaw in the bum agreement. I would disagree with him only on his reference to glide path which implies an ease and unimpeded track that is ra...

Be in deficit 5. 5 . The only way you keep the private sector in the red, above zero, is if the government deficit is big enough to more than offset the trade deficit. If the u. S. Is running trade deficits on the order of 4. 5 of gdp, the government deficit has to be at least 4. 5 of gdp, or the private sector will fall below zero. Every single time. Here is the cbo forecast. This is what is projected to happen to the government deficit if we hit the cliff. This is the alternative scenario. If we hit the cliff, the projection is that the government deficit will shrink to around 2 of gdp. Defi...

Whole of next year during which you can reach resolution to that issue. Now, the only reason why i think thats an extraordinarily bad idea is i think it would be viewed quite unfavorably by the Financial Markets. And so you could see a reaction. And it is really bad tax policy to be legislating in the middle of the tax year on the basic structure of the income tax for that year. Host well go to jeff in tampa, florida, independent caller. Caller good morning, how you doing . Host good morning, sir. Caller yes, i have a question for mr. Buckley, and this is more it may be a little generic, but s...

Her family issued an injunction to keep her on life support. One train collided, carrying grain, and another carrying crude oil crashed on tracks. Nearby residents have been urged to evacuate. A setback for passengers stranded on a ship in antarctica. They were on a scientific expedition and have been stranded since christmas eve. An australian ship was on the way but could not plough through the ice 13 miles from the ship as it was too thick. Those are the headlines. Fear and anger across the world as two deadly explosions rock russia. Consider this with less than two months until the world d...

Conflict and 77 protesters killed. A deal has been reached. It will read turn the old constitution. It will also include a new government within 48 hours. The deal was brokered during allnight sessions with three European Union foreign ministers. That is him cited the deal and surrounded by the opposition leaders. The deal includes president ial elections by december. On an up and its people were not so sure. Here is a bloomberg reporter on the ground. People are angry and skeptical. There was too much blood. At least they did not want to be seen as accepting this deal. They want more. They wh...