tax cut not being extended, a lump of coal in the form of the united states government s financial statements are going to be issued this morning, and while the final numbers won t be known until they re issued, it s expected that we re going to be in an over $65 trillion hole, that s $550,000 per household. and that represents the threat per america s future, that s what has to be addressed. and you re correct, washington has been totally dysfunctional with regard to the ability to do so. so underline again this report. what should americans take away from this report? i find it fascinating that they re releasing the report not just on a friday but a friday before christmas, a friday when everybody s out of town. what do americans need to know? it s really pretty outrageous. it s been known for a long time when you want to issue something, you don t want people
platform that your party stands for in terms of deficit reduction and trying to restore fiscal health. what would you have them do? i know you like blunt ask direct talk, me cars as do i. do it. first of all, this shun be a debate between whether we are going to spend $3 opinion 65 trillion or $3.7 trillion. that s not the range of difference between the republicans and the democrats appropriately defined. that s not the kind of bold action or rhetoric that people need or want either in the campaign trail or in government. so you can t get out of the hole substantially without addressing entitlements. as you mentioned before on the show. we need to raise the retirement age for new entroonts social security. that s acceptable. i think to most americans for new entrants into the program. number two, i m not for means testing generally but it is okay to means test at least the cost of living adjustment in social security. not the whole program. for medicaid we have to shut off the a
homes into for closure. a positive side to this, tony. home values are inching higher ever so slightly, and americans are cutting their debt. they re saving more. it s really becoming the new normal after being so burned during this recession people are learning to save more and really pay off their bills on time. tony? that is a bit of good news there, but the broader question, i guess, can we really bounce back here? an legitimates are being positive about this. they say, yes. the bounceback will be slow. in fact, we re already seeing it, though. the s&p 500 is already up about 9% for the quarter. keep in mind your 401(k) mirrors the s&p. this is good news. a long way to go to come back to the net worth we had before it s recession. before the recession we at $65 trillion. now about $53 trillion. it will take time to get back there. alison, appreciate it. see you next hour. speaking of next hour a story so unsettling it can make you itch. traveling bedbugs shutting down
north dakota governor hoven. had s gotten him into facebook. his own page with 750 followers. the only u.s. senator to wear it, roland burris. the last senator, jon corzine of new jersey, with the full beard. two familiar faces from the obama team. eric holder, a.g., and david axelrod. by the way, alex trebek had one, too, and tom selleck. to mark the start of the north korean, north korea s demanding a reparation from the united states for what it calls decades of hostility. how much are they asking for? $65 trillion. yes, that s trillion. for perspective, by the way, the america our own gdp, gross domestic product, is $14 trillion. they want more than four times that. north korea calculates the united states owes it $65 trillion in compensation. tonight s absolute insane, crazy, big number. that s hardball. thanks for being with us. up next, your business. more t. where do we stand?
jersey with a full beard. you have two familiar faces from the obama team. eric holder and david axelrod. tom selleck has one, too. not many. tomorrow starts the 60th anniversary of the korean war. north korea is demanding a for $65 trillion for the united states. yes, that s trillion. for a perspective, by the way, the americansous gross domestic product, gdp is exactly $14 trillion. north korea calculates they owe it $65 trillion in compensation. tonight s absolutely insane crazy big number. up next, last week it was congressman joe barton. this week, general stanley mcchrystal. why are so many public figures saying i m sorry these days? it s the fusion proglide challenge.