Detailed text transcripts for TV channel - FOXNEWS - 2012121

Detailed text transcripts for TV channel - FOXNEWS - 20121217:23:18:00

day we don't get anything for that. that's $854 million of interest that our country pays on our debt every single day. >> former democratic senator evan bow. >> we can't keep borrowing like this or we will have the same problems that europe is having. that is one of the frustrating things. they are not theoretical. that's not a classroom exercise. you can look at europe and see what happens if we continue down this path very much longer. >> alex rid man bill clinton's budget director put the bulk of the spending problems on the promises to medicare medicaid and lesser extent social security. >> they will drive federal spending occupy faster nan our economy can grow. revenues won't keep up. we have a problem. if you don't have enough revenues to pay for the spending you have to borrow. on the track that we are on if we go on doing what is in the law over the next several decades, our public debt will

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