number two, the cost of the wars in iraq and afghanistan. $1.3 trillion at this moment. a distant third, the president s stimulus plan, $831 billion. never thought $831 billion would look cheap. well, here s another powerful number. right now this country is paying $224 billion a year in interest on our debt and that number is mushrooming. it becomes an exponential problem. by 2020 we will be paying $544 billion in interest alone. if you want to see something really scary, let s compare that $544 billion to medicare. by 2020 in the year we re paying $544 billion in interest, medicare will cost a mere $279 billion. we ll be paying almost double that just in interest on our debt. now, you may say that s clearly foul and bad and terrible things, but some people believe that spending more is the best way to get this country growing again, to grow out of our problem. paul krugman said the stimulus plan was not big enough. he wants here $800 billion on top of what we already spent
crisis in syria. it could be the most significant development since the uprising began a year ago. at this hour, it is reported that a possible peace deal is in the works. this is one that has the backing of arab states, it s a draft resolution being circulated by saudi arabia which condemned the actions in syria today. we re getting word this is making its way through the u.n. general assembly. we re trying to confirm this report. we ll have an update as soon as possible. once again, breaking news on a possible peace plan for syria. much more on this as the bottom of the hour. now to our other top story. groundhog day, failure on repeat. the president is going put out his budget on monday. we know what s in it. it s going to let the bush tax cuts expire on people make being over $250,000 a year. excuse me. impose a minimum effective tack rate on millionaires. make some cuts to medicare and run a trillion dollar deficit. it s pretty much like the budget he passed last year
we have breaking news on the crisis in syria. it could be the most significant development since the uprising began a year ago. at this hour, it is reported that a possible peace deal is in the works. this is one that has the backing of arab states, it s a draft resolution being circulated by saudi arabia which condemned the actions in syria today. we re getting word this is making its way through the u.n. general assembly. we re trying to confirm this report. we ll have an update as soon as possible. once again, breaking news on a possible peace plan for syria. much more on this as the bottom of the hour. now to our other top story. groundhog day, failure on repeat. the president is going put out his budget on monday. we know what s in it. it s going to let the bush tax cuts expire on people make being over $250,000 a year. excuse me. impose a minimum effective tack rate on millionaires. make some cuts to medicare and run a trillion dollar deficit. it s pretty much like th
election commission. that would make it the most expensive election season in american history. but here s the dirty truth about american history. money always seeps into politics, and it has been going and going and going for a long time. take president mckinley s campaign at the turn of the century. even know that guy? railroad and steel barron s gave him the then insanely kingly sums of $6 million for his 1896-1900 presidential win. that would be a lot of money even now. president nixon was given $2.5 million by one guy, an insurance executive when he ran for president in 68 and 72. just two examples of what happens every time. over the years laws on campaign financing has tightened. but yet this is the strange thing. make it harder and you say you can t give money here and then it goes there, and more money gets spent every single time. even with the mccain bill that was passed in 2002 which required limits in two candidate, guess what, a lot of cash has found its way i
outfront tonight, big, big, and bigger money in politics. upwards of $11 million will be spent on this year s election, according to the federal election commission. that would make it the most expensive election season in american history. but here s the dirty truth about american history. money always seeps into politics, and it has been going and going and going for a long time. take president mckinley s campaign at the turn of the century. even know that guy? railroad and steel barron s gave him the then insanely kingly sums of $6 million for his 18 - 1896-1900 presidential win. that would be a lot of money even now. president nixon was given $2.5 million by one guy, an insurance executive when he ran for president in 68 and 72. just two examples of what happens every time. over the years laws on campaign financing has tightened. but yet this is the strange thing. make it harder and you say you can t give money here and then it goes there, and more money gets spent ev