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On the household side, household debt is a share of disposable income that has come down. we ve got more on the deposit side than the interest paying side. that s been lost in this conversation as well. it s kind of exciting because i get mailers at my house that say you can open an account with us and you can get 1.3% or things like that. but for a lot of americans, if you don t invest in the stock market, you ve been on the wrong end of this thing. the experiment has been to the disadvantaged significantly of retireees. it s forced them out. the risk spectrum at a time when they couldn t afford to be further out the risk spem trum. i think this move towards ....
Detroit problem can be solved without help from the state and federal government. self-help will not work in detroit. there s not enough left there in terms of an economic base and finances. what happens on the near horizon for retireees. public employee pensions. what happens to their checks? nothing immediately. yesterday was a very important day in detroit. federal bankruptcy judge said all the appeals to stop this process and stop any reductions at the moment have to go away. the judge essentially did the brave thing whether you re a laborer, former public employee or a municipal bond correctedor, bond holder we won t let you slow this process down. we re going to move this quickly as possible. in a city like detroit that was big news and suggests they are going to move quickly. steve, what can be said to a cop or a firefighter or somebody who took a job that had hazards with the understanding that ....
The same folks who said if we went for it with our plan to rescue detroit, you can kiss the american auto it s motive industry good-bye. now they are saying we were right all along. or you ve got folks saying, well, the real problem is what we really disagreed with was the workers, they all made out like bandits. that saving the auto industry was just about paying back the unions. really? i mean, even by the standards of this town that s a load of you know what. you know, you about 700,000 retireees had to make sacrifices on their health care benefits they had earned. a lot of you saw hours reduced or pay or wages scaled back. ....
Happen down the road. pay outs are simply unsustainable. given the current budget crisis. i agree, a deal is a deal . you can t just say we are take back. as we are doing with pensions. and mark, they are not suggesting ripping up the contracts but suggest they should sunset the rules . let s phase it in over time. and i think that is fair. but i don t think we can suddenly write it. the states are saying we are broke. we can t pay. fox news decided they would not pay you tomorrow. and they say yeah, we will not pay you, dennis. would you show up for work? the private sector finds it necessary sometimes to change the benefits they promised for retireees. because the future is changed for them it happens all of the time in the private sector. ....
Very hispanic community to try to get to the polls to support hillary clinton and since obama won here in florida in 2012 and it s the retireees that i ve mentioned so it will probably come down to who shows up to the polls and that can make all the difference. north carolina is hotly contested and a state where we have seen a lot of early voting. what are you seeing there tonight? well, just like elsewhere in the united states, many people in north carolina are disenchanted with the two presidential candidates but after early voting 16 days, 3.1 million voted. that s 52% more than four years ago. closed at 1:00 and two hours later still 250 people in line. ....