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Spending. i don t where interest rate would go when world investors look at the united states which is in longer the reserve currency but that is the day of reckoning we are trying to head off. you mentioned we have three plus years without a budget, at all, and you just said it is unlikely that harry reid would take this up in the senate and we hear confirmation of that from other sources, so it could be four years without a budget. americans are saying, well, life is going on, so, what are you hot and bothered about? guest: we have heard testimony to this, thure veto in such shambles the world cannot turn not euro as the reserve so the united states is the world s reserve, so we have the luxury of printing money to delay that day but we are looking at the ground and not dropping but gravity will take effect and it will not be pretty. neil: but it is never pretty ....
Exactly your moxcy. guest: well, in the house we will have a democratic alternative budget. neil: his budget. his budget vote on his budget. guest: ours will be based largely on the president s proposal because it does two important things: it helps nurture a fragile who and invested in jobs. we have to get the payroll tax cut extension for 160 million americans and the president has called for that since september. neil: i know he is talking about investing in jobs but it moons you have money to invest. we don t. we are flat broke the we oh more than our entire country makes in g.d.p. so we cannot invest anything, right? guest: so you need to do two things, make sure that the fragile recovery keeps going. that means putting more money in people s pockets so in the short term it could be an uptick in the deficit but what the president s proposal does over 10 years he brings the deficits ....