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fiscal policies and wasteful and unactable spending america is faced with a mammoth debt of $20 trillion and a sluggish economy that s holding it back. this year alone overspending is projected to be 559 billion and will continue to grow over the next ten years to 1,408 million, 1.4 trillion in 2027. it s a 9,426 billion budget hole over the ten years. gross national debt will hit 30 trillion in ten years outpacing our projected economic growth. as congress considers our country s budget over the next decade we must look beyond the annual appropriations process. almost 70% of federal spending is already on auto pilot and that portion is growing rapidly. cbo reports states that 70% of the total increase over the next ten years is from social security, medicare and net interest on america s debt. social security taxes will stop paying for benefits by 2019 which will result in a one in trillion for 2027. medicare will be in the red by 2020. in less than 20 years automatic ....
dedication with which it carries out its responsibility to congress under the budget act but the contents of this report are concerning. after eight years of failed fiscal policies and wasteful and unactable spending america is faced with a mammoth debt of $20 trillion and a sluggish economy that s holding it back. this year alone overspending is projected to be 559 billion and will continue to grow over the next ten years to 1,408 million, 1.4 trillion in 2027. it s a 9,426 billion budget hole over the ten years. gross national debt will hit 30 trillion in ten years outpacing our projected economic growth. as congress considers our country s budget over the next decade we must look beyond the annual appropriations process. almost 70% of federal spending is already on auto pilot and that portion is growing rapidly. cbo reports states that 70% of the total increase over the next ten years is from social security, medicare and net interest on america s debt. social securi ....
and they had problems. and we allowed them to be confirmed anyway. they don t have one argument that s worthwhile. not one. if they had, they should have shown up yesterday and made their arguments we would have knocked those down. reporter: are you saying that are you concerned your relationship with democrats in this committee has been irrepresentably damaged? senator hatch: no i m not. this is a ripple in an otherwise calm sea. but i don t think they can complain. my gosh, we have used the rules the way the rules ought to be used. the they ruse used the rules they thought they could use them. they just did not do what was right yesterday. reporter: are you saying the parliamentarian signed off on this last night. does that mean there is no grounds for any floor challenge? senator hatch: i don t care what they do. but the parliamentarian said this is the proper procedure. reporter: did you notify the ranking member this morning of this meeting? senator hatch: they w ....
and featuring the legendary roots crew. questlove: 620! kansas! steve: and now, here he is, jimmy fallon! [ cheers and applause ] jimmy: oh, hey, hey. welcome. sit down, relax. welcome, everybody. welcome, welcome, welcome, welcome, welcome. welcome, everyone. welcome to [ cheers and applause ] welcome to the tonight show. this is it! you re here! [ cheers and applause ] you re watching! you re home! this is great! you guys, you guys a huge snowstorm is headed towards new york. [ light laughter ] so the good news is we have a a great show tonight. the better news is you re all spending the night here. [ cheers and applause ] and that s just not right. that s awesome. if i fall asleep first, don t put my hand in warm water. just let me [ light laughter ] no more freezing my bra. [ light laughter ] actually the snowstorm is hitting the entire northeast. in fact, boston public schools have already announced that they ll be closed tomorrow. yeah. kids in b ....
and featuring the legendary roots crew. questlove: 620! kansas! steve: and now, here he is, jimmy fallon! [ cheers and applause ] jimmy: oh, hey, hey. welcome. sit down, relax. welcome, everybody. welcome, welcome, welcome, welcome, welcome. welcome, everyone. welcome to [ cheers and applause ] welcome to the tonight show. this is it! you re here! [ cheers and applause ] you re watching! you re home! this is great! you guys, you guys a huge snowstorm is headed towards new york. [ light laughter ] so the good news is we have a a great show tonight. the better news is you re all spending the night here. [ cheers and applause ] and that s just not right. that s awesome. if i fall asleep first, don t put my hand in warm water. just let me [ light laughter ] no more freezing my bra. [ light laughter ] actually the snowstorm is hitting the entire northeast. in fact, boston public schools have already announced that they ll be closed tomorrow. yeah. kids in b ....