Detailed text transcripts for TV channel - MSNBC - 20130305:12:21:00
The short term. most people went away from that over time realizing that's not such a good idea. what's surprising is there is a basic point that if you borrow, you have to repay. the congressional budget office really an important document, of course, a kind of nerdy one, says that right now this year we'll spend 1.4% of our national income on servicing the public debt. by 2023, before krugman says we have a problem, they estimate it will be 3.3%. in other words, two percentage points more just to pay interest on the debt. where is that going to come from? it's squeezing things we care about....
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