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$1.3 trillion at this moment. a distant third, the president's stimulus plan, $831 billion. never thought $831 billion would look cheap. well, here's another powerful number. right now this country is paying $224 billion a year in interest on our debt and that number is mushrooming. it becomes an exponential problem. by 2020 we will be paying $544 billion in interest alone. if you want to see something really scary, let's compare that $544 billion to medicare. by 2020 in the year we're paying $544 billion in interest, medicare will cost a mere $279 billion. we'll be paying almost dou...

number two, the cost of the wars in iraq and afghanistan. $1.3 trillion at this moment. a distant third, the president's stimulus plan, $831 billion. never thought $831 billion would look cheap. well, here's another powerful number. right now this country is paying $224 billion a year in interest on our debt and that number is mushrooming. it becomes an exponential problem. by 2020 we will be paying $544 billion in interest alone. if you want to see something really scary, let's compare that $544 billion to medicare. by 2020 in the year we're paying $544 billion in interest, medicare...

Childhood education or fund our needs for the furlt. that's not his message right now. his message on taxes, it's a fairness thing. it's a message for the conservatives as well. that's why they've been trotting out the idea that the core unfairness in the tax codes is that 46% of americans don't pay any tax. we know that's not actually true. lower income americans actually pay about 16% of their income in state and local taxes. payroll taxes. >> sales taxes. >> exactly. >> i think it's important to note this conversation didn't come from the white house, the conversation from the economic fair...

[ male announcer ] up to 5 weeks of comfortable shaves with one proglide cartridge. great things start with gillette. gregg: president george w. bush is in new york city today, making a rare public remarks about the state of the economy, and well, the tax cuts that bear his name. fox business network's david asman is there live. hi david. >> reporter: hi gregg. even though we've had the same personal tax codes in effect for more than ten years now, they're still known as the bush tax cuts, even though they are essentially the status quo. this is manager that even bothers george bush. you might...

We elevate the nature of the debate? >> education is very costly. the report we're looking at says it goes up 6% every year. you know, there is another issue about priorities. one of the funny things is we talk about tax codes and changing taxes. we look at the deductibility of mortgage interest payments. lbos, for example. yet we have no such thing for education in this country. it's absurd. of course, if you don't fix the returns relative to the amount of money you put into education, you'll have another bubble like the housing bubble. but it's got me thinking we have a completely mistaken t...