National debt. I believe your answer to that question was focused on the size of the debt in relationship to the economy. The gdp, which i understand. I understand the argument and i understand the analysis. Its something that we talked about a lot in budget circles over the last few years. The the question i have though is does that really justify a budget that continues to frankly borrow hundreds of billions of dollars every year . And to spend that money in an effort to as you indicated to stimulate the economy, invest in things that should help the taxpayers and the people of america, but never balance. I think my question, my question is this. Is it possible for us or any nation to simply spend in deficit, every year, perpetually, borrowing money and never balancing and to keep ourselves in a prosperous posture . Can we spend ourself perpetually sbroo prosperity on borrowed money . Senator i think weve obviously talked a lot about this issue of what the right measure is. I think a
The president s executive actions that he took late last year would improve the prospects. What period of time . Over the over the life of the individual . Youre not counting the times that these individuals would be drawing their benefits, mr. Donovan. Youre counting a shortterm window in which they would pay in, creating a shortterm surplus of money or additional flow of money, but youre not counting when they draw out. Its going make the Social Security hold deeper. Its going make it harder for us to save Social Security and medicare and you know it. And youre suggesting to the American People directly directly different than that. Its wrong. Senator, you dont need to take my word for it. The actuary senators time has expired. Along with cbo suggests the action by the president will reduce. Senator whitehouse. Thank you very much chairman. Good to have you here. Could you please tell us a little bit about the part of your budget document that is called federal budget exposure to cli
Senator mccain heard that remark and took to the floor of the sen sat to respond. Mr. President , four brave americans died. It has now been eight weeks and the American People have received nothing but contradick tri statements from all levels of our government. This administration has either been guilty of incompetence or engaged in a cover up neither of which is acceptable to the American People. There are still serious Unanswered Questions about the timeline of events. Remarks in the days and weeks that followed. Specifically, why didnt the the shirtless pictures of himself to her. You have heard that, so his lawyer Lawrence Berger goes on shirtless picture he sent to her was a joke and several years ago. And now we will listen to what the president has to say about the argument over susan rice. If senator graham and senator mccain want to go after somebody, they should go after me, and im happy to have that discussion, but for them to gof a u. N. Ambassador who had nothing to do w
The argument over susan rice. If senator graham and senator mccain want to go after somebody, they should go after me, and im happy to have that discussion, but for them to gof a u. N. Ambassador who had nothing to do with benghazi and simply making a prez sentation information she had receive and to besmirch her reputation is outrageo outrageous. If the president thinks that we are pick on people, he really does not have any idea of how serious this issue is. The benghazi battle turning into a hot issue. I will talk to one of the senators taking the president to task, kelly ayotte. But we will begin with the latest on the petraeus investigation. We are joined by suzanne, welcome back. Thank you, piers. Always nice to be here. Here is my overview on the key characters. We now know who the fbi agent was who began this whole investigation, fredrick w. Hu hmm fri who is a glorous name and he is through friends and colleagues of clearing himself of anything wrong, is that right . Yes, a co
On the sidelines of an asian summit, treasury secretary assured partners. China is the biggest holder of u. S. Debt. It holds about 1. 2 trillion. Fidelity says it no longer holds any u. S. Government debt that comes due in late october or early november, around the time the nation could hit its borrowing limit. The nations largest money manager has been selling Government Debt holdings over the last couple of weeks. Fidelity says it expects the debt ceiling issue to be resolved. Thats the good news. But passette manager says its taking steps to protect investors. Bill gross says differently. Were doing just the opposite, probably buying what fidelity is selling. I appreciate the problem they have with their Money Market Funds. If, for instance, theres a technical default of a day or even a certain number of hours, then a Money Market Fund possibly has to mark down that debt to zero and it breaks the buck. You know, so Money Market Funds, fidelity Money Market Fund might want to avoid