Detailed text transcripts for TV channel - MSNBC - 20121208:11:40:00
Years has the 18% been enough to balance the budget. all those times were in the '60s. the only recent balancing came during the clinton era when growth was strong. revenue ranged from 19.5% of the overall economy to 20.6%. by bumping along with the magic average of 18%, we have built the national debt that dominates the political discussion and it's going to get worse if we stay there. the future debt we're talking and worrying about is driven by two things. health care and old people. the coming years are going to have more of both. today the elderly make up 13% of the u.s. population. by 20...
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