Take Christa News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Trillion deficit per year matters to americans is it's like termites in the basement. they're eroding the economic foundation of our economic house. if you let those termites continue to eat and eat and eat, it collapses after a while. i think the long-term implications would be higher inflation and higher interest rates. those both have very negative impacts on the ability for the american economy to compete. >> good point. termites, you don't know there's a problem until one day your staircase collapse -- >> that's what's so frustrating. we know we have termites in the basement. >> christa, ...

But actually that's exactly the reason -- it circles back to what we were just talking about. why does this enormous debt matter? the reason it matters is because if we continue to borrow $1 trillion a year, it erodes our ability to be competitive on a global stage. when i give my lectures around the country, i always tell people the biggest issue for our country is are we going to be able to compete in the next 10 and 20 years with china and other emerging countries? if we don't get this debt under control, this continues to weaken our position on the global stage. >> they're picking on you, ...