classified information. the white house scrambling to contain the biggest leak we ve seen in ten years. experts say the damage is done and more could be on the way. good morning. big morning. i m bill hemmer. dana: you are in a mood. i m dana perino, this is america s newsroom. the pentagon is trying to figure out who is responsible for the leak. it exposed military secrets and how the u.s. spies on its adversaries and friends. bill: it is making for awkward conversations and damage control on a global scale. it s tough to do. the u.s. is ramping up a criminal investigation into all this. c.i.a. director bill burns talked about it haltingly at rice university. listen. the deeply unfortunate leak of classified documents is certainly as intense as anything in that now part of the in box as well and it s something that the u.s. government takes extremely seriously. the pentagon and the department of justice have now launched a quite intense investigation to get to the bo
does it mean a recession? we could see a recession. i believe we ll see a recession later on this year because you are seeing demand destruction. with prices and rates as high as they are, companies are faced with much higher debt levels and debt rates. so there is a trillion dollars right now on corporate balance sheets that will roll over. years ago when they took on that debt, they were expected to pay 4%. now paying 9% or 10%. why you see bankruptcy numbers go higher and partly you saw the collapse of the silicon valley bank and signature bank. the banking crisis is a problem not part of the inflation story. short answer, yes, fed is doing the job of taking in inflation, but how much is that going to impact the slowing economy? will it take us into recession? dana: you talk about housing and mortgage situation. i read the headline banks are losing money for each mortgage they finance for the first time ever. there is all the things you buy
this has been growing over the past few years. filings were as low as 500,000 in 2006 and the filings increase every year since then. you know there has really been a change in the psyche about filing for bankruptcy. it does not carry a scarlet letter. it has become a fresh start for people to get a leg up. if the recession is supposed to be over and last year was supposed to be the beginning of the recovery. why are we talking about bankruptcy numbers like that? there is a disconnect. we see stocks at two year highs. we see the economy is recover g recovering. the reality is it will take years for a full bounce back for many people. the problem is we all just have too much debt.
how slow the recovery is. u.s. bankruptcies now reaching the highest level in five years. the number of folks filing between april and june is up almost 10% from the same period just last year. with us now to talk about it is tracy burns. all right, how worried should we be about those bankruptcy numbers? it s bad. for the year ending june 30th, about 1.57 million filings, ore . th gits these days. health care costs are out of control, and, of course, there s the foreclosure market. everyone is no one can pay their mortgage these days, so lots of people are just walking for bankruptcy, it s on your credit report for ten years. the flip side to that, though, is i think it s lost the stigma that it used to have. when i was a kid, if you filed for bankruptcy, god, we were all making cat roles and