-led congress, and why it really matters for everything from health care to global and national security, to the balance in your 401k. plus, i will talk to yuri salk, the adviser to ukraine defense minister about a very important week for ukraine, and a new evidence that ending roe was not enough for the anti abortion lobby in this country. the war against reproductive rights rages on, and it s worse than you would think. i will call this week s meeting of the velshi banned book club comes together. it is a celebration of mother daughter love and it has been banned. i will talk to the author, graceland, about why the story is so important. ahead. velshi starts now. . good morning, i m ali velshi, it is saturday january 21st. it is two years of the day since president biden s presidential moderation. we begin with a dire warning to the present day, but to do so, let s go back in history to this famous exchange. little did i dream you could be so reckless and so cruel ask
China with about 870 billion, great britain with about 648 billion, belgium s out about 333 billion, and luxembourg, believe or not, rounds of the top five at 313 billion. generally, the rest of america s debt belongs to america. the government has barred allotted cash from its own public. 39% from the federal reserve, 22% from mutual funds, and so think about your 401(k) s. 11% from depository institutions, like banks, 9% from state and local governments, 8% for pension funds, and 9% from the social security trust fund. in two or some out of context. this 9% is two point 85 trillion dollars. the u.s. owes social security right here at home we more money than the 870 billion dollars that it is china. so when you hear somebody saying that this that is all china, no, it s actually mostly all america. nevertheless, the u.s. has over 31 trillion dollars that means to repay in a debt limit that has been reached as of this week.
So that they can funnel more money to middle men, these pharmacy benefit managers as kick backs to keep their drug in a preferred status on the drug form larry. we have got to tackle these incentives or keep seeing increase list prices. we are making progress but the president has been clear this has to stop drug prices must start coming down not going up. we will work with democrats and republicans to make that happen. sandra: i just wonder if you can address some of the individual numbers that we are seeing or prices more than 250 prescription drugs went up as i noteds average 6.3%. total spending by the government consumer insurers on prescription drugs $333 billion in 2017 alone. now, you ve heard a lot of plans thrown out there by members of congress. elizabeth warren is one of them. she says that the government should step in to correct certain market failures like
The key things they re looking at. $321 billion over the course of ten years. the senate has to save $333 billion. that means they have $77 billion to work with there in terms of using money, using financing, possibly, for medicaid, possibly other issues to try to get some worrisome senators back in the fold. also premiums. when you talk to the u.s. senate, the thing they care about more than anything else is premiums. how about cutting back on obamacare help with premiums? in 2020, premiums would drop by an average of 30% for individual plans. while the top line is something democrats will seize on, republicans are not going to appreciate. on the premiums, that is some news that i think republican conservatives will be really interested in, no question about it. there is a lot to take away from these numbers.
The federal government spent $333 billion and collected $110 billion and borrowed $223 billion. could any business operate on that kind of a model? if you put that in a household or a business, you recognize those things in a home or business would be considered bankruptcysy. when the government does it, it s called a deficit, missing, underage. that would not be solvent. i don t know if you heard governor rand paul from kentucky and mike lee from kentucky indicated they would vote against giving the government authority to raise the debt ceiling and borrow more money when the borrow authority runs out, which they estimate will happen sometime in the next couple of months. what do you say to the dooms savers who claim we ll go bankrupt, the full faith and credit of the country will