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Detailed text transcripts for TV channel - CNN - 20100203:11:32:00

president obama laid out his budget, as a nation we owe more than $12.3 trillion. a lot of that to china and japan. can america keep its global super power substitute us when we re so far in the red? here minding your business , the managing director for the economic cycle research institute and marcus nafry. this is very interesting, the government will borrow one out of every $3 it spends and many of these funds come from foreign countries. how can america retain its super power substitute us if we re broke? well, it can t ultimately. in the short term meaning like the next few years, something like this, this isn t that big of a deal, not going to change things overnight because we have a lot of debt.

Lot to chew onPresident obama12 3 trillion2 3 trillionSuper powerIn the redManaging directorEconomic cycle research instituteMarcus nafryIsn t

Detailed text transcripts for TV channel - CNN - 20100202:06:28:00

very honest one. give him credit for that. it s also very grim when it comes to deficits. wolf, i can remember only two years ago, less than two years ago we were gasping of the idea under george w. bush deficits were going to go above $500 billion in the single year. now we re looking at deficits three times that large this year. just in the time that one hour of this program tonight from 10:00 to 11:00 eastern time, the deficit is going to go up over $182 million. in just one hour. that raises the question, david walker, how much longer before the country goes bankrupt? with these deficits, trillion-dollar deficits as far as the eye can see? if you think these are bad numbers, you know, we can look at the $13.2 trillion pardon me, $12.3 trillion in debt. then we have another $40 trillion to $50 trillion in unfunded obligations that aren t debt, yet, today but in the future. social security, medicare entitlements. $38 trillion if you will. here s the problem. the federal g

Wolf blitzerGeorgew bush00 billion500 billionDavid walker82 million182 millionArent debt13 2 trillion50 trillion13 2 trillion12 3 trillion2 3 trillion0 trillion40 trillionHealth care

Detailed text transcripts for TV channel - CNN - 20100202:03:29:00

numbers, you know, we can look at the $13.2 trillion pardon me, $12.3 trillion in debt. then we have another $40 trillion to $50 trillion in unfunded obligations that aren t debt, yet, today but in the future. social security, medicare entitlements. $38 trillion if you will. here s the problem. the federal government has grown dramatically. discretionary spending grown 20% in the last two years. there are proposals to grow government more in the area of health care and energy. the american people know things are out of touch and out of control. we ve made tens of trillions of promises we don t know how we re going to afford and government wants to make more promises. this deficit, david, go ahead. pick up that thought. this deficit is growing and growing and growing. it is growing dramatically. this budget from president obama estimates in the next five years we ll have $5 trillion worth of deficits. that is up 35% from what the president projected just 12 months ago. this

Arent debtSocial security2 3 trillion50 trillion0 trillion12 3 trillion13 2 trillion13 2 trillion40 trillionHealth care8 trillion38 trillionLets goOut of controlDavid gergenPresident obama

Detailed text transcripts for TV channel - CNN - 20100202:04:29:00

under george buw. bush deficits were going to go above $500 billion in the single year. now we re looking at deficits three times that large this year. just in the time that one hour of this program tonight from 10:00 to 11:00 eastern time, the deficit is going to go up over $182 million. in just one hour. that raises the question, david walker, how much longer before the country goes bankrupt? with these deficits, trillion-dollar deficits as far as the eye can see? if you think these are bad numbers, you know, we can look at the $13.2 trillion pardon me, $12.3 trillion in debt. then we have another $40 trillion to $50 trillion in unfunded obligations that aren t debt, yet, today but in the future. social security, medicare entitlements. $38 trillion if you will. here s the problem. the federal government has grown dramatically. discretionary spending grown 20% in the last two years. there are proposals to grow government more in the area of health care and energy. the amer

Georgew bushGeorge buw00 billion500 billion182 million82 millionDavid walker13 2 trillion13 2 trillionArent debtSocial security50 trillion2 3 trillion0 trillion12 3 trillion8 trillion

Detailed text transcripts for TV channel - FOXNEWS - 20110125:11:16:15

Detailed text transcripts for TV channel - FOXNEWS - 20110125:11:16:15
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