we have over 50 tlts in unfunded liabilities, medicare, medicaid, all unsustainable. i think we need to do something in connection with the decision to raise the debt ceiling. it deals with the debt. both medium and short-term, medium term and long-term. that what it would take to get my vote. a cnn contributor, secretary geithner said not raising the debt ceiling would be catastrophic for the economy. now, he concedes no one knows for certain what could happen in the event that it s not raised. are republicans willing to risk sending this fragile recovery that we re in into chaos to find out if they re right? no. but neither are democrats. let me tell you why i m certain. a, the debt ceiling has been raised 74 times since 1962. second the consequences for not raising the debt creeling are dire and everyone knows it i have my tim russert prop. if we don t raise the debt ceiling the government cannot issue new debt. we take in 60 cents for every dollar we spend. we spend
some serious concessions from democrats. we have over $50 trillion in unfunded liabilities. all of them are unsustainable. we need to raise the debt ceiling both short term, medium term and long term. that s what it would take to get my vote. will cain is a cnn contributor. secretary geithner said not raising the debt ceiling would be catastrophic for the economy. he concedes no one knows for certain in the event that it s not raised. are republicans willing to risk sending this fragile recovery that we re in into chaos to find out if they re right? no. but neither are democrats. let me tell you why i m so certain about this. the debt ceiling has been raised 74 times since 1962. second, the consequences for not raising the debt ceiling are dire and everyone knows it. i have my prop here. the issue is, if we don t raise the debt ceiling, the government cannot issue new debt. the problem is we take in 60 cents for every dollar we spent. we spend 40% more than we take in
conservatives. you lay the argument out very well. gloria is a cnn senior political analyst. 60% of americans say they oppose raising the debt ceiling. just 37% would be in favor of raising it. that would seem to bolster the republican argument that they want severe cuts in extreme for their vote to raise that credit limit. let s say the debt ceiling is not raised and the u.s. does, as will postulates possibly default on some of its payments. are the consequences as dire as secretary geithner warns? will the republicans blame republicans or democrats who wouldn t give them the cuts? what s going to happen? the public will blame everyone. i think first of all, the congress and that means democrats, republicans, and also the president of the united states, needs to go out as the secretary of the treasury has and explain what the consequences are. it s clear from looking at that poll, that people may be saying, debt ceiling, we don t want to
that s not exactly what we re hearing from a lot of other conservatives. gloria gorborger is with us. 60% of americans say they oppose raising the debt ceiling, just 37% would be in favor of raising it. that would seem to bolster the republican argument that they want severe cuts in exchange for their vote to raise that credit limit. let s say the debt ceiling is not raised and the u.s. does, as will postulates, possibly default on some of its payments. are the consequences as dire as secretary geithner warns? is the public going to blame republicans who voted no or democrats who wouldn t girlfriend them the cuts? what s going to happen? the public will blame everyone. i think first of all the congress, and that means democrats, republicans and also the president of the united states needs to go out there as the secretary of the treasury has and explain what the consequences are. it s very clear from looking at