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Was about the total percent of debt of the united states and our gdp as compared to europe. graphic i would like the put on the screen. how badly europe is doing. usa, 3%. you hear all of these bad things about ireland, portugal, france, spain, we're up there in terms of total debt. explain the concept of the total debt is part of the gdp and why we're so bad. >> when you take federal, state, and local debt which is what you have to do to compare us to them, you compare it to the total size of the economy, we're, as you saw, as bad as and worse as some of the countries in the news in europe. w...

stood by his call for more negotiations. >> let's extend the payroll tax credit for a year. all we're asking for is to get the senate members over here to work with us to resolve our differences so we can do what everybody wants to do. less than two weeks before the iowa caucuses republican ron paul, now the new leader of the pack. in a new poll 28% say paul is their man compared to 25% who back newt gingrich. paul is holding a town meeting. that is happening in iowa this hour. more on the surge in the state later, our political ticker. turkish police detain dozens of people in a...

Special interests manifest themselves. this was a total leadership failure. probably about the worst in modern history. you had the wrong chairs. they appointed the wrong people. and frankly, the president was out of time when it came to crunch time. we have to learn from 1992. it's time to go to the people. washington is out of touch and out of control. we need to learn from what ross perot did in 1992. $15 trillion in debt, david. can you put this into perspective and how bad it could get for america? >> we are now over 100% of our economy in debt and we're adding debt at record rates. to ...

South on wednesday night. >> we're going to reach out to everyone that's hurting, and it's going to take days. it's not -- or weeks. it's not going to be a quick response. >> reporter: and dozens of rivers are rising at record rates. more than 15 inches of rain in five days forcing thousands of evacuations. and today that recipe still exists. the threat shifts a bit to the east where more heavy rain and even tornados are predicted. rob, peggy. >> all right, and now we do want to get the very latest from alabama. joining us on the phone is lori ashcam. she's a spokeswoman with the alabama emerg...

Moral tragedy. we're mortgaging the future of our kids and grandkids at record rates. but how we solve the problem involves moral issues as well. >> well, david walker, you're going to keep advocating for reinstituting those controls. i guess it's pay-go or what used to be pay-go, and you don't spend it if you don't have a place in the budget. >> it's more than that. it's pay-gos without trillions of dollars of loopholes, it's debt with automatic spending cuts and tax surcharges if they are not hit. there has to be a consequence for doing nothing. >> david, let's continue talking. >> i look fo...