citigroup including taking a bonus one day before a $301 billion bailout. thank you patti ann. stories you can bank on this morning. a stern warning from fitch credit rating agency about america s growing debt. lauren simonetti joins us with all of the details. wish i could start on a positive note it effects all americans it effects the interest rates, right? interest rates and the country s borrowing limits. they are warning automatic spending cuts that take effect tomorrow would not trigger a u.s. trade downgrade but a failure to raids a country s debt limit as you can see keeps growing that would. after the seek quest tor comes tomorrow the government shoulding shut down. they are reaching the debt ceiling may 19th a long-term agreement on raiding that $16 trillion debt limit is the lynch pin to the u.s. keeping
well, some of the sounds today, you saw louisiana senator mary landrieu on the senate floor, saying that the federal government is trimming back. take a look at what the debt added in the last year, and the nation, roughly $38,000 a second. we told you that is added to the national debt in last year. $38,000 a second. michael ramirez has a cartoon, a cartoonist that looks back and take a good long look at this. if you like pie charts this is an actual pie chart of the 2007 federal budget against the 2013 federal budget. you can see the 2013 budget, 40% larger. $38 trillion in spending, versus $2.7 trillion. deficit back then, 2007. $161 billion versus $901 billion in 2013. there is the sequester cut.
recession adding to it. earlier this month president obama s budget prediction predicted a $1.3 trillion for the ongoing fiscal year. the deficit would drop to $101 billion under the tax and spending policies. the academy award shows this weekend along with new movies in the theaters. here s a look at the film starring jennifer aniston and paul rudd. why are you not at work, george? i got fired. as soon as we can get back on our feet we ll come back to new york and right now my brother offered us a job and atlanta is the best place to be. that was wanderlust. joining us now is amy palmer. good day to you. that was a funny scene right there, but is this a must see or must avoid. this is a must avoid. i wanted to like this movie and it s by judd apatow, unfortunately this falls short. they play a manhattan couple who
dave: does this hurt the president? guest: he is trash talking. for example, he starts off with calling it a falsehood, my bill will save, my health care bill will save $1 trillion. well the congressional budget office said it would save, reduce the deficit by $148 billion but that was before they came out and admitted they forgot to take into account $115 billion in discretionary costs to implement the bill so the savings dwindled to $28 billion and paul ryan pointed out it is actually $701 billion in deficit because they are double counting revenue using the money twice, borrowing money from social security, borrowing money from medicare, borrowing money from a new premium, and new insurance premium pool they establish. and they are spending the money on both as was admitted to. so the president is trying to rev up the troops. i want an accountant in the
estimates if the repeal happens there will be an increase in the federal budget deficit in the next seven years of total of $145 billion. paul ryan pushed back against that saying that obamacare will increase deficit by several hundred thousand dollars. he said c.b.o. has to score what you put in front of them. if you put a bill in front of team that ignores the money to spend to run the program, that double counts the medicare savings and the class act revenue, that double counts the social security revenue, that does not count the doc fix, if you add that you have, net it out, we are talking about $701 billion hole, deficit. there is the response. back with the panel. charles? ryan is right on the numbers.