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Demographics mean that there's more and more pressure being placed on financing our medicare, medicaid and social security programs. so at a time when the recovery is still gaining steam and unemployment is still very high, the solution should be pretty apparent. and that is, even as we continue to make investments in growth today, for example, putting some of our construction workers back to work, rebuilding schools and roads and bridges or helping states to rehire teachers at a time when schools are having a huge difficulty retaining quality teachers in the classroom, all of which would bene...

will supposedly be paid for by closing loopholes and eliminating wasteful deductions. but the republicans refuse to list a single tax loophole they are willing to close. not one. and by the way, there is no way to get even close to $4.6 trillion in savings without dramatically reducing all kinds of tax breaks that go to middle class families. tax breaks for health care, tax breaks for retirement, tax breaks for homeownership. meanwhile these proposed tax breaks would come on top of more than a trillion dollars in tax giveaways for people making more than $250,000 a year. that's an av...

Debt. that's not accurate. it actually is -- since 1983 it's added to the debt. explain that, please. >> the deficit is the issue. the deficit is a cash flow basis. cash flow in, cash flow out. social security has been in a negative cash flow position since 2010. it is therefore adding to the deficit. it's true. it has about $2.7 trillion in bonds. those bonds are backed by the full, faith, and credit of the united states government. guess what, the federal government doesn't want to count it as a liability. if you look at the financial statements you won't find a liability to what it owes soc...

He gets a lot of credit for citing obscure, historical examples. "the new york times" story where they marvelled over his northwest ordinance. if you spend time reading a lot of right ring history, particularly christian right wing pseudohistory, this is a staple. what seems to masquerade as staples. you hear the same thing when he is talking about chile and chile's social security programs, people say, oh, he must be incredibly well-versed. chile is the go-to right wing example for their kind of social insurance. >> gingrich, of course, he has had these comments these weeks about how poor kid...

In, the co-chairman of president obama's debt commission are offering a grim assessment of the nation's fiscal future. speaking at a closed door meeting at the national governors association in boston this weekend, republican alan simpson and erskine bowles. bobles said, quote. simpson said the spending is consumed by the medicare and social security programs and added the rest of the federal government including fighting two wars and homeland security and you name it, veterans, the whole rest of the discretionary budget is being financed by china and by other countries. katty kay, is this an ...