Alan Simpson: Obama budget ducks deficit challenge - Freeland File
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Uploaded by ReutersTV on Feb 17, 2012
Alan Simpson, the co-chair of Obama's deficit commission, says the president's 2013 budget fails to tackle the core issues of entitlement and defense spending in any meaningful way, and says the U.S. is on the same debt trajectory as Greece. In an in-depth interview, Simpson tells Thomson Reuter Digital Editor Chrystia Freeland a dysfunctional Congress will force the U.S. to pay increasingly higher interest rates on its mounting debt.
- 13 likes, 1 dislike
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@apagoogoo actually what he's saying us that the US is completely broke because of government spending and he's saying that no one's listening - including you it seems. Accounting isn't political, it doesn't lie and costs cannot be wished away.
delatroy 1 week ago
Our money is checkable bank deposits created by loans and sale of new bonds discounted when distributed from the face value at which they will later be redeemed. The loans cannot be paid off. Any attempt to pay our debt with our borrowed purchasing power must result in deflation and thus the remaining debt balance will be nominally smaller but an even bigger REAL DEBT burdern & depression. THANK YOU FOR VIDEO! Thus austerity and z deficit-financed wrong. See ojCqYcGMzps Answer: p_wv4NTNrxU
oldickeastman 2 weeks ago
Every other civilized nation ? And who are the uncivilized nations who don't manage ?
jizimjazim in reply to apagoogoo (Show the comment) 1 month ago
Man, this guy is the real deal!
Fav quote "we are the healthiest horse in the glue factory"
bob32818 3 months ago in playlist Uploaded videos
what you're seeing here, folks, is a representative of the 1% saying "america can't afford to keep the 99% healthy, so too bad suckers!" check your head, old white rich man. every other civilized nation manages somehow.
apagoogoo 3 months ago