biggest part of that 60 trillion dollars will not hit the black community. the reason that is is because 42%, 42% of black s own their own home compared to 74%, around 74%, of other groups of the general populist own their own homes. consequently, the aggregation of wealth does not pass from generation to generation. every generation is starting over again. not to mention what you talked about, the list of food deserts, the poor quality of schools, the ability we have to do mixed income housing, which will encompass affordable housing as well as workforce housing, so that you don t have to live outside the city you work in in order to service or work in the city that you live in. yeah, that s an important aspect. as you know, there have been some questions about wells fargo. they ve made certain entries,
private sector who are now more and more anxious to invest in new projects and new technologies that could establish a more rapid transition to sustainability. some 300 of the world s top ceos from every sector of the economy, including financial services, and representing well over 60 trillion dollars of assets under management join at my sustainable markets initiative and demonstrated how acutely sensitive they are to both the way consumers, who control more than 60% of global gdp, and shareholders, are now demanding changes in the way businesses behave. which is why they want to make a big difference with any kind of investment only they can provide. dash make the kind of investment.
trillion. stephen dennis of bloomberg news on the bigger picture here he said there s sort of a big fight in washington that you may have heard about, it s about whether we spend 62 trillion dollars over a decade or 60 trillion dollars. joining me now is stephanie carleton professor of the deficit mid, professor carleton, good to see you again, thank you for being with us. i ve never generally speaking read numbers, i don t like talking about them on tv, this is the one problem we re talking about numbers, we put prices on bills, but we leave the discussion about the value within those bills till later. so the debate is about bringing the 3.5 trillion to two trillion. none of us know, most people don t know what the value was in that bill, what s being cut, and what s been installed because of it. that s exactly right we get really bogged down because these numbers feel so large, and they are large. and most of us can t wrap our heads around it, and of course
let s actually solve the real problem. we have 160 trillion dollars worth of unfunded liabilities right now. that s a half a million dollars per man, woman and child in this country. anything any presidential candidate can say now about the problem you ve just identified that will resonate with voters? i mean should candidates be saying, i m the one who can work across the aisle, i m the one who can do what you suggested? feel like we ve hurdled that before and it hasn t worked. yeah and the candidates actually do the opposite right now in large measure. certainly hillary clinton is saying she s running again the republican congress, and a lot of the republicans themselves seem to be criticizing partisanship and sort of ossification in washington. i wonder is that something voters will expect of them to come out and start saying what they would do to solve that problem? gosh, you know i have a lot of confidence in the american people. if you had a candidate that stood up and sa
problem. in the order of magnitude we know the problem will be worse. about 60 trillion dollars of unfunded liabilities. the longer you wait the tougher it is. i get the argument the jobs in the economy are still weak and we need to deal with that. that s fine. you can have responsible proposals for dealing with that. larry summers put forward responsible ways to deal with that but we need to put in a framework how we want to deal with it. that s what bothered me that krugman rejected all that and said wait until we get out there and then see what the problem is. like waiting to see after we put a lot of carbon in the atmosphere and see if we can still breathe. on behalf of paul krugman, he s arguing against people sitting around hysterically in washington nothing matters but the debt. nothing matters but the debt. he s arguing long term debt matters long term but right now