the national debt as of right now stands close to 29 1/2 trillion dollars and that figure is just climbing. already the country is paying $1 billion in interest on that debt per day. that s according to the peter g. peterson foundation. congress recently raised the debt limit by $2 1/2 trillion. lawmakers are considering spending more with president biden s 1.7 trillion dollar build back better agenda as we enter the new year. as you mentioned the congressional budget office found the version of the plan that passed the house in november would add $365 billion to the deficit through 2031. that s not including $207 billion in revenue from i.r.s. enforcement. mean whiem with the build back measure stalled some republicans are calling for more oversight demanding a balanced budget amendment to the constitution. senator lindsey graham from south carolina said it would
bases to support the no-fly zone in libya. more details on this breaking story as they come in. ali, over to you. ali: all right. a shocking new assessment from the congressman budget office and finds that president obama s 2012 budgets would trigger deficits of 9 1/2 trillion dollars over the next ten years and that s more than the white house. sometimes you get to carry a one. how will we ever get out of the red this way? let s answer this professor at university of maryland and former chief of commerce, peter morici. does this shock you, peter. no, when the president published the budget, i said this was fraudulent and no one would endorse and assuming things that the health care legislation will not accomplish. they re in a fantasy land in the office and want to wish the problems away. ali: let s hear what the budget director has to say. there s uncertainty in economic projection and differences of opinion when it