i can t afford to have you as bystanders in the debate. i want everybody to be in the game. he warned it would be turned to voucher program and said under his plan the pentagon would no longer be forced to buy weapons, programs, senior military officials don t want and he reminded the audience the predecessor inherited a budget surplus. but then we cut taxes for everybody, including millionaires and billionaires. we thought two wars and created a new and expensive prescription drug program. we didn t pay for any of it. the political tone confirmed yesterday s prediction by standard & poor s that the republicans and democrats won t agree on a deficit reduction plan before the 2012 election. on this day, s&p seemed to downplay the new negative outlook on american debt. two years ago we did the same thing in the u.k. they passed a new budget. we moved them back to stable so we hope the same things happens in the united states. even though democrats and
other dignitaries. this is not to say that there aren t concerns about china s u.s. debt holdings, even democrats on capitol hill have them. there is no doubt that china holds a huge amount of the u.s. debt. we have a big trade deficit with china among other things and the bill we passed last year was to begin cracking down on china s manipulation of its currency, which makes u.s. goods sold in china much more expensive. the senate has yet to vote on that bill, but it does have bipartisan support there, shepard. shepard: concern that china might stop lending to the u.s., right? no, china is the biggest foreign holder of u.s. debt having slightly more than japan. but the vast majority of american debt is held, frankly, by americans. and officials say that china has a large stake in the u.s. economy growing and the fiscal situation getting better. the old saying goes here. if a bank lends you $100, the
weren t happy with the way that a lot of it happened, but it was a congress that acted and changed a lot of things in america. republicans say their side tallied victories as well pointing to the failure to reform immigration and pass the dream act or the budget and fact that over the course of the congress s tenure, the overall american debt rose 3.2 trillion dollars. . when you give democrats a big majority or any party a big majority in the house, and susceptible proof in the senate and a liberal president who agrees with both wings of the house and senate, you can get a lot of things done and this president got a lot of things done. and a lot of damage was done to this country. and kelly, a brand new session of congress kicks off this week, new class inaugurated on wednesday, four days from now. all right, peter, thanks so much. president obama says he s ready to work with both sides of the aisle during his week
its important to keep this on the fourth side. no tax hikes for the rich january 1st and roll back healthcare reform, right? that s right. it s a pleasure, thanks for joining us. remember the rich i call them job creators because that s what many of these people do. if we tax them, they won t have the money to invest in creating new jobs. you re speaking to someone who grew up in western autopsy. america speaks holding town halls on reducing american debt. what these people want is going straight to washington. who are they? should worry? pump n go sprayer. with up to 5 minutes of continuous spray, pump n go kills weeds, not your hands.
money in. the united states government is indeed paying out a fortune but it s not bringing in enough. however, it will not collapse. absolutely, it will not collapse. because it can print money, as much as it needs, if it has to and it can tax the people to bring in more money, as much as it needs to. why is he doing it? bill gross runs the biggest bond trading house in the world called pimco. a few months ago, he said, look, i m getting very nervous about the amount of debt that america is going into. i m going to stop putting my money into america s debt. i m going to invest in safe countries overseas. that s a big deal in the bond world. he s basically saying, look, your debt is just too much. in america, we re running up too much. time to get things under control. so rather than buying what had been the gold standard of debt for years and years, american debt, he s buying french debt and australian debt.