explain. by not prioritizing the revenue when it comes in after he runs out of debt ceiling. we have $250 billion a month of revenue coming in, even in this kind of weak economy. the interest payment per month by contrast $30 billion. he has the power to prioritize, allocate the first dollar to pay the interest. there s never there never should be a question that it won t be paid. and then move on and put it into social security or wherever else he needs to while they are negotiating a real solution. the only thing that would make you default is if you don t make good on an interest payment. if what if you don t make good on a social security payment? if you don t make good on a social security payment they are going to be there will be 5 million people not very happy. that s not a default. that s not a default. the kind of default they are talking about that ricochets through the global financial system is a default on the little bit of $30 billion of interest, n
how long it would go. that raises the risk of default or insolvency. that happens when we can t make a social security payment, a medicaid payment, and the government obligation which is distributed or it simply can t be passed. that would be an incident of a default, something this country has never done. something that we came close to doing a couple of years back, the ratings agency lowered our aaa rating. but you could argue that we are hardly worth the aaa rating now. and so i think that that could be debated. as you mention, mentioned, also this ping-pong between the house and the senate, they are sending it right back to the house just on the eve of the october 1, deadline. telling the house, what are you going to do. we have taken that out of this insane day on a to talk that
today s workers are less likely to enjoy a secure retirement, let alone the kind their parents or grandparents enjoyed. the reason? well, health care costs are rising faster than wages. another sobering number, the study predicts that social security will account for just 51% of what middle income retirees have to live on. the average social security payment is just over $13,000 a year. kind of scary there, huh? all right. somewhat strange situation being dealt with at chicago s o hare airport. since a week before christmas, they have been holding three sealed containers. inside, get, this are 18 human heads. they ve been used in medical research apparently. the containers were held up after arriving because of incomplete paperwork. once that s taken care of, the heads will be cremated. turns out such shipments are common place and hundreds of heads criss-cross the globe all the time. wouldn t want to get that
income to the feds. those making below $400,000 a year will pay a variety of new obama care taxes and see a 2 percentage point rise in their social security payment. everybody gets hit. if you invest, you will be paying about 9 percentage points more in capital gains and tax. if you die and your estate is worth more than 5 million bucks you will pay 40% of death tax to the feds. president obama is not finished. he wants more from the affluent. we can t simply cut our way to prosperity. cutting spending has to go hand in hand with further reforms to our tax code. so that the wealthest corporations and individuals can t take advantage of loopholes and deductions that aren t available to most americans. bill: ewe, no question now. no question that the american people have voted for a president who wants to redistribute income. he is not going to stop.
income to the feds. those making below $400,000 a year will pay a variety of new obama care taxes and see a 2 percentage point rise in their social security payment. everybody gets hit. if you invest, you will be paying about 9 percentage points more in capital gains and tax. if you die and your estate is worth more than 5 million bucks you will pay 40% of death tax to the feds. president obama is not finished. he wants more from the affluent. we can t simply cut our way to prosperity. cutting spending has to go hand in hand with further reforms to our tax code. so that the wealthest corporations and individuals can t take advantage of loopholes and deductions that aren t available to most americans. bill: ewe, no question now. no question that the american people have voted for a president who wants to