functioning. and we support the administration doing what s in its authority to pay the debt. the debt payments are up around $20 billion a month. income is around 230, $240 billion a month. we want to make sure that that is always paid. there s not a single republican who does not want the debt payment of this country paid. they don t raise the debt ceiling, you think the u.s. can still go ahead and pay all of its responsibilities, including making sure social securitiey checks go out on time. yeah. if you looked fe revenue flow coming in, we ve prioritized this of about. this has been looked at for years now. in fact, during the bush administration, there was a legal opinion saying does the executive have the authority to pay those responsibilities
in less than two weeks, the united states treasury could fail to meet all of its financial obligations. our credit rating was downgraded. the u.s. treasury department issued this warning about the new debt limit fight. those consequences include high interest rates, reduced investment, higher debt payments and slow economic growth. could last for more than a generation.
predictions. gary b., you re up. brenda, booz allen has been getting bashed lately because of all this snooping stuff. i like the stock. i think it s going to be up 20% by the end of the year. jonas? too early in the scandal. we have to wait a while. john, your prediction. aol is being forced to get in the buyout game by yahoo! and google. i think the stock s up 30% in a year. gary? seriously, john, aol? come on. okay. toby. what do you like? forget about aol. we ve got new game consoles. that means game stop will sell a bunch more games. i think it s up 30% by the end of the year. toby knows all about that. john, what do you think? toby should be a video game character. until he is, i m a bear. i think he is out there. you re still on aol. come on. jonas, your prediction. detroit is now so broke, they re missing debt payments.
all the while, the hometown of gm has been buried in debt. banks, including bank of america, ubs, jpmorgan chase, issued about $3.7 million in bonds to cover the deficits, shortfalls and debt payments since 2005, costing the cities $474 million in the process. that s nearly the entire budget for the city s police and fire departments this year. this isn t even meunique to o detroit. many companies are still recouping those handouts. yes, we are facing an internal national threat from greedy welfare queen. the corporate welfare queen who are hollowing out our cities and leaving all of us poor. with me today is ansi butler, from the university of pennsylvania. labor organizer, steven learner with the wall street accountability campaign and justice for janitors.
see only how much the debate, particularly among the democrats and the president has fallen completely into the box of conservative economic orthodoxy. you re looking at place that 20 years out we re going to be spending more on debt payments than we are nondiscretionary. we re going to look where it s 2 president 8% of gdp, 2.6% if the sequester goies into effect. right now we re spend 1g% on veterans, 1% on poverty and education. i think about things that need to happen, universal child care. free college. that s another percentage of gdp. really we re in a box get all to 100 percent, heather, keep going. seriously, i don t know anyone who says that 10 and 20 years out the working and middle class are going to need less from the federal government than they do now. and i think thing i worry about now is what you mentioned