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Rep. Paul Ryan sounds off on the Congressional Budget Office's warning that the government's mounting debt could be twice the size of the economy in 2...
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And tonight -- dire warning from the Congressional Budget Office the CBO is new information that if the federal government does not change course and change course soon the debt will crash the economy we spoke with House Budget Committee chair Paul Ryan a short time ago.
CBO report they've issued a new report with new estimates which is you know is -- watched him that in fact.
Say that it said it has disturbed -- -- -- they had warned last year that the next 25 years the debt GDP ratio would be a 18687%.
But now they're projected as a 199.
-- -- and increase.
Every year we don't do anything to fix this just -- Corporate debt crisis they're telling us that actresses.
They're telling us but -- -- point 53 programs Medicare Medicaid Social Security plus interest.
It's homeowners and federal government revenues.
-- also tell us.
That it's important for the economy is safe to get it under control and keep tax breaks down if we raise income tax rates which what pres Obama proposing.
She -- telling us it's been -- -- it.
So we're posing this tax reform and lower tax rates you know and -- -- anything.
And it's spending and controls that he is dead and control that's the -- for the economy and what they're -- telling us is they can't even measure it.
Going past 2030 years because the debt burden their computers that they don't have confidence that the economy survive.
The levels of debt that are coming the American economy.
In the point thirties when you -- my -- -- money.
I hear from both Republicans and Democrats have got this fiscal cliff that we're about to go over and Republicans and -- it is sent.
By cutting taxes revving up the economy Democrats say the -- Way to do it has increased tax -- both both -- solutions but what people think Rihanna is that we -- really headed in the wrong direction.
And we -- headed in the wrong direction disasters economic growth we want economic -- leaving it tax rate increases.
-- successful businesses -- much higher rates in the competitors are what hurt the economy.
These jobs was loses revenue we want economic growth and job creation spending cuts entitlement reforms but -- didn't -- -- I -- -- whatever the solution of the Democrats are right the Republicans are right you both agree that that we have we're in deep trouble.
What can the American people.
Do besides Amanda yeah same -- in November of particular -- and it's far deeper than that the animosity between the two sides -- his card he could not.
This is now this is a serious crisis not just -- the -- political parties try to -- an ally.
We can control our own.
House we've tested solution -- passed budgets but says he specifically.
How we're gonna get this debt under control are -- -- to -- And how we're gonna prevent a debt crisis from ever -- America.
We gotta get these problems under for the world -- And so probably.
It was a senate has chosen not pass but of the three years you don't -- the senate has given us the president giving us for budgets.
But no solutions and neither budget more taxes -- -- Texas.
No attempt trying fixes this booklet so we need new partners help us fix this mess I don't think before but as the president's looks likely to change them.
The senate if they're choosing not -- to.
-- -- -- -- We're -- news.
Read past we've shown what we did in Wisconsin Scott's victory.
As we -- -- specific -- do to fix the problems we have facing our state.
And we took -- to the country to the state and and they -- to decision to keep people.
Place I think.
Kurt was on the ballot in Wisconsin virtual and we're showing -- we're seeing specifically what we should do to fix this country's fiscal mess grow this economy.
And we're gonna ask -- it gives the ability to put him.
Plus soon learn look at the worst case -- -- -- his -- let's assume that the Republicans don't -- the house -- -- in the -- -- -- -- the Democrats don't -- -- the White House the house and the senate which was really divided government.
Then we're back -- -- -- beginning in January or in November 5 election was still back to divided government -- still but -- thought this Bill Clinton got Republicans saying.
We've got to raise taxes that you guys same -- a cut spending but we still have this this.
What more as a human completely -- without incident now personality you know we need leaders who are willing to.
Put up ideas what we thought we would do we -- our budget was that that's our plan and -- show the senate and the president here's how we want to fix the problem.
Let's see your ideas and analysts -- compromise.
We have yet to see they have decided not to put their ideas and table.
She can even get to the table right that was that was coming out assuming a worst case scenario that's gonna have to happen and if we keep the same leaders in place in the White House the senate.
I don't how how would I know that we're gonna see anything different so what we're saying is we need to go to the country with with the reference.
-- To tell.
And Washington fix this mess before it's out of control were offered solutions to other sites offering demagoguery division distortion.
You know solutions so yeah I know that's fairly partisan -- of influencing this morning fix this problem when -- for the government debt crisis.
We'll go back to work.
But we need people here were actually part of the solution not part of the problem so far we've got rid of this because a lot of folks up here side you nothing.
And it rather just not pass anything and actually show like that country what it is they're really wanted to do in that context in case you would have to happen.
Which bestowed on us economy if you wanna pay for all this gusher spending machine around here with all the tax that would.
Both -- both -- happenstance not so I'm curious the -- thoughts -- what's gonna happen November very extreme results of this two days ago when I was we're we're clearly a toss ups from state.
We were in 2002004.
Not in 2014.
Point difference if it -- -- what difference the McCain campaign pulled out in August I think so it really wasn't tested.
But what we've shown now Wisconsin's Scott had a -- that he increases -- from 2000.
So -- I believe is where this is going to be hugely contested state car -- ten electoral votes on the estate we're gonna win.
But I believe lately we have an excellent chance of winning is clearly have a President Obama not showing up for -- Barack yeah that not that that's pretty -- You know a moment -- -- when when the issue that they.
Was up decided not to campaign.
What -- I think they knew the bulls were looking so good on the -- was gonna lose so I guess that sentence.
Data must have a that but dead when I suppose that's a lot people are really unhappy with -- it was -- -- -- -- for Democrats who fell again let me.
And this is his.
