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consequences, well, they ve been described a whole bunch of different ways. james rosen, we ve heard dire, armageddon, chaos, and we ve also heard may not be that bad. reporter: no one is using the word sugary, we should point that out. through the eyes of president obama and be what happens if he and lawmakers fail to raise the debt ceiling before august 2nd. as the president surveyed, what the country is taking in and bills it s paying out, he could face a slew of agonizing decisions. first, the revenue side. treasury data from august 2009 and 10 was used to project what uncle sam will take in next month, about $203 billion for the month. but let s look at what we have to pay out, about $100 billion gets gobbled up by medicare, medicaid and social security. another $60 billion roughly would take care of the people who do business with the pentagon and the interest we owe
and lawmakers fail to raise the debt ceiling before august 2nd. as the president surveyed, what the country is taking in and bills it s paying out, he could face a slew of agonizing decisions. first, the revenue side. treasury data from august 2009 and 10 was used to project what uncle sam will take in next month, about $203 billion for the month. but let s look at what we have to pay out, about $100 billion gets gobbled up by medicare, medicaid and social security. another $60 billion roughly would take care of the people who do business with the pentagon and the interest we owe on our debt. but you ve also got federal salaries and benefits, about 15 billion. how about a helping hand to the 14 million unemployed people out there? tuition money, temporary assistance for needy families, paychecks for our active duty soldiers, veterans programs, that s about six billion for the