we re only growing at 2% a year. that s in part the result of all these taxes that we have to pay. and secondarily, we re not we re spending far more than we re bringing in. $1.4 trillion coming in but we re spending far more than that, primarily on entitlements. the interesting numbers are that even though we collected this record amount, the deficit $413 billion for fiscal 2014. it already amassed that at the time this money came in. how do we rein in entitlements? if you look at the money going out in entitlement, it totaled $900 billion in six months. if you throw in the interest that we paid on the debt, that s another $100 billion. that means outgoing is $1 trillion. incoming is $1.4 trillion. that means we ve got $400 billion to run the entire government from the military to the agriculture department to the justice department. obviously that s not enough. we re overspending. and we cannot rein in
including the same unit that killed osama bin laden, stage another daring raid, this time on mission to rescue hostages from pirates in somalia. tears on both sides of the aisle. congress bids an emotional farewell and gets an inspirational message. i m wolf blitzer. you re in the situation room. but first this just coming in. we re seeing a tight race, a very tight race here in florida. that makes tomorrow night s cnn republican presidential debate potentially all the more important as the candidates try to make an impact. the new cnn/ time /orcp poll shows a virtual tie. ging r. has near will you doubled his support here, while romney has slipped. but that big jump by gingrich may not snell tell the whole story. there s another trend developing, and there s lots to explore. let s getting right to our chief political analyst gloria borger and mike all crowley of time magazine. on the face of it, it looks like a tie, but there s other trends developing. right, i thi
borrowing costs will skyrocket. the u.s. dollar here s another possibility, and i keep saying could because, again, we don t know, but the u.s. dollar could lose its standing on the international, global stage, so our dollars could become weaker. bill: i understand all that. revenues are still coming into the government, there would be pain, you just can t pay everything. now, we re getting a lot of questions about this from viewers, he s one right now here s one right now. why doesn t anyone repeat how much interest we pay on debt? last year the interest that we paid on the debt, $413 billion. so far this year up until now, it s tacked at about $385 billion. china holds 1.15 trillion of our debt in treasuries, and that s actually helpful to us, certainly, because they re buying it, and then we can borrow. it s pretty much a vicious cycle. but they re not liking us so
will massive crisis. people upset with that. it begoon with public-sector workers who were the most upset because of cutbacks there, but it s expanded big time and turned violent. you can see in some cases police clashing with protesters. it is turning increasingly deadly. start with this one right here. good example, petrol bombs in some cases, thousands of security officials battling the protesters. you see young, old, students taking part as well. i ll take you through some of these pictures and as i do, some numbers. pretty amazing numbers kout of greece. the size of the debt, the national debt, in u.s. dollars, about $413 billion. this picture here is really striking. this is someone taking on angela merkel, an anti-globalization protester. angela america. has been taking steps to help greece bail out but with that they re calling for greece to make some promises. some people want that debt forgiven entirely. this right here is a cruise