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Transcripts For CNNW World Business Today 20120301

taxpayers have been unfairly labeled as lazy. and the criminaled cruise line is pushed finally pulled into port. we re live in the seychelles for that. first up, let s get straight to the european stock market action. these markets have been open for the best part of just over an hour. this is how the indices are performing. a little die cot many between the two eurozone markets. the cac is trading down about .25%. ftse 100 up. what has got their attention. ben bernanke s comments are weighing heavily on sentiment not just across europe but also across the world markets as well. this is because he s offered a down beat assessment of the recovery. it is one of the things that has these markets pausing for the moment. european leaders and finance ministers are also in brussels today. over the next two days to come. what they ll be doing is hosting a series of summits designed to strengthen the region s finances and also to prevent another greece-like situation from happenin

Sam championCruise lineInto portEurozone marketsStock market actionBen bernankeFtse 100Down beat assessmentAsia pacific regionFinance ministers12 billion712 billionLet s go52 billion652 billionHang seng

Detailed text transcripts for TV channel - CNN - 20100314:19:15:00

billion deficit in february. just for the fiscal year to date now, $652 billion. interestingly enough that february number comes with government revenue actually coming up a little bit, which was a welcome surprise. but, look, guys, at what point does this become a very serious problem for what we can do in the near-term? stephen? the think the idea of borrowing $10 trillion over the next 10 years, what is what is in the current president s budget, i think is real financial calamity and i really worry, christine, if we stay on that path and don t get this budget under control, we may face another financial crisis as we saw in 2008 and it s going to be just as gut wrenching as the one we just lived through. benjamin, do you think we have to spend now, though, to fix the problem so that we can fix it later? the national budget is a family budget is absurd. we need to spend to fix things as a percentage of gnp. our debt today is certainly not any worse than it was in other crises in

Government revenue652 billion52 billionStephen mooreDon t10 trillion0 trillionBenjamin barberGut wrenchingFamily budget

Detailed text transcripts for TV channel - CNN - 20100311:11:23:00

to the treasury department set a new record of $221 billion. the reason why the bars are red is because that means that is ready ink. we spend more than we took in in february. the deficit for this fiscal year, back to october, 652 billion. how much more are we spending than we are taking in? tax receipts are plunging because the recession. and february is always a tricky month because the government starts sending out the tax refund checks. look, the biggest categories of spending are health care, social security, defense, many of these things in the eyes of politicians are not negotiable. they will continue to spend the money as needed in these programs. even as the money we re bringing in gets less and less and less. this is a recession story too. this is a story of us spending a lot of money we don t have to

Treasury department221 billion21 billionTax refund checksTax receipts652 billionSocial securityRecession story

Detailed text transcripts for TV channel - CNN - 20100311:14:50:00

more than we took in. the deficit so far for the fiscal year, that s october, november, december, january and february is now $652 billion. it s a staggering amount of money. 17 months in a row now of deficits. again, this is how much money we spend versus what we take in. the recession has just devastated how much money that the government has been taking in. you know, both companies and people can pay less in taxes and that s a real problem here. at the same time that the demands on the government for safety net and for services and for deficit spending just trying to get the economy going again are only rising. of the big categories of spending, are really the things that in politics at least are sacred cows. you re not going to see a lot of pullback in those. health care, social security and defense. we re spending a lot of money on those things and spending more money than we take in. february, though, is typically a tough month. this is why. because you have the government

221 billion52 billion652 billion21 billionDeficit spendingSafety netSocial securityHealth care

Detailed text transcripts for TV channel - CNN - 20100313:18:14:00

Detailed text transcripts for TV channel - CNN - 20100313:18:14:00
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Lending standardsRed inchGovernment revenue652 billion21 billion52 billion221 billionSteve mooreIdea borrowing