Detailed text transcripts for TV channel - CNN - 20100701:22:10:00
>> the united states' national debt level is highest it has been since world war ii. the congressional budget office is warning president obama's deficit commission that something has got to be done and quickly. by the end of this year, our debt level will represent 62% of this nation's economy. and it will rise to 80% in 2035, just 25 years out, and that means that simply paying the interest on the national debt will consume one-third of all federal revenue, just to pay the interest. and that's the budget office's most optimistic scenario. their worstication scenario has the debt level hittin...
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