Denyieys. Debt skeptics say we can grow our way out of debt with more tax revenue. Not so says Harvard Universitys nile ferguson. In a recent column citing forecasts from the nonpartisan Congressional Budget Office, the cbo, last month, the cbo published its 2013 longterm budget outlook, forecasting u. S. Debt 25 years from now and beyond. Like Climate Change projections, the cbo uses models, based on Current Trends and likely future scenarios to forecast the national debt. By 2038, 25 years from now, the debt may rise 73 of Gross Domestic Product today to as much as 190 of gdp, says the cbo. Unlike Climate Change, which has failed to heat up for the past 15 years, the federal debt outlook has worsened substantially since last years cbo report. If you think rising sea levels are bad, get a load of this. As debt rises, so will the percentage of the federal budget that goes to pay interest. From 8 today to 40 in 2072. Even under the cbos optimistic growth scenario. Does that send nervous
Known at the hardest working man in show business. His family gave us this statement a short time ago saying, quote, we are deeply saddened to share that our beloved Regis Philbin passed away last night of Natural Causes. One month shy of his 89th birthday. His family and friends are forever grateful for the time we got to spend with him, for his warmth, his legendary sense of humor and his singular ability to make every day into something worth talking about. We thank his fans and admirers for their incredible support over his 60 year career and we ask for privacy as we mourn his loss. Julie ba banderas has more on te life and legacy of Regis Philbin. Reporter he talked his way into our of hearts, Regis Philbin was born on august 25th, 1933 in new york. He was named after his fathers alma mater, regis high school. He graduated in Cardinal Hays High School in the bronx before going to notre dame. After college he joined the u. S. Navy. He began his Television Career as a stage hand and
This is cavuto live so glad to ou with us. Right now the focus is on that virus stimulus that the president wants but nancy pelosi says the way hes going about it he cant have, but you tried to be the democrat that turns down a payroll tax cut and Unemployment Benefits that be extended through the rest of the year, although not at the 600 a week level. The president also put them in a box on the issue of stimulus checks. He wants to handout up to 3,400 to families of four and so far, democrats are saying he cant do that either but the back and fourth has given the president an opportunity the democrats say hes taking advantage of. Were going to debate that and ex floor that but first where all of this stands right now with david spunt, in bridgewater , new jersey. Reporter neil, good morning to you. Well listen, with congress out of town and the president here at his golf club in bedminster, new jersey its clear it doesnt look like any deal is going to happen anytime soon. Gone are tho
Cavuto. Man, oh, man, theyve got things going on across the country off the jersey shore, one planned on labor day off the coast of florida. Celebrating and protesting all at the same time this great country. Lets first go to david spunt at the white house on how the president and officials there are handling right now the controversy over a Magazine Article and no reporting on an employmenting surge. To you, sir. Reporter neil, good morning. That atlantic article all the rage here at 1600 pennsylvania avenue. The white house, when donald trump was a real estate mogul in new york, he always bragged and talked about the positive relationships he had with many people in the media, complaining though about the way the media has covered him since he became president of the United States almost four years ago. Now, case in point, we talked a little bit about those jobs numbers. The president , though, held a News Conference yesterday at the white house. From the moment he walked out, he tal
But globally as well were also up on the latest protests that have involved in louisville and spread elsewhere to places like oakland and new york and atlanta , where on top of virus developments that look encouraging for a vaccine but first and foremost the president s announcement at 5 p. M. Eastern time today when he will make it official. Now all indications are that it is going to be the 7th Circuit Court Justice Court of appeals judge i should say amy connet barrett but anything can happen, along with this president he could surprise you but that seems to be the growing consensus right now if for no other reason shes been very much vetted here and is a known quantity certainly on capitol hill, which will help with the speed of processing her confirmation. Lets go to john roberts at the white house with more on where things stand right now. Neil good morning to you itll be just 38 days until election day after the president made the announcement one of the biggest announcements th