Cavuto: US is on the verge of dying in debt
Debt issue isn't business, it's personal
- Duration 5:27
- Date Aug 15, 2012
Debt issue isn't business, it's personal
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Finally the more I read about the -- the more emails I get like this one from Tammy in Florida who writes.
Will you ever shut up about the -- -- debt clock my god.
You never give up its getting old give us something new.
-- how about this for him since last night when you wrote that email we are now four billion dollars more in -- Then there is this from Max out and LA you act as -- pulled this just happened -- -- this is Obama's fault.
I never heard you say a word when your buddy bush who was bailing out the banks -- starting this mass.
Well then you heard wrong Max on this show and on my Fox Business which by the way next you know get you really should demand.
But I've repeatedly blasted those ballots -- today we're setting a bad a dangerous precedent.
Even -- a got a very chilly response from my so called.
Bush's buddies at the White House and many others supporting -- then President Bush was doing.
From it needs to stay a step in with treasury.
To make sure there's a floor under falling real estate values particularly.
Residential -- and why hasn't done it needs to do that why not let her in my case however -- it might be an hour -- might be tomorrow you -- I think if the house rejects his letter that mr.
free market capitalist probably one of the best CEOs.
Of the last century.
Are signing on to what is essentially a fiscal hail Mary -- No I think it's another step in trying to resolve the crisis that we have what if it continues.
What will have moon we're gonna have to take some other steps where where obviously we may have to step in more aggressively.
To stop the downward push on -- Where does it -- Jack where does it and you know my point Dan as it is now green I'm not read I'm not blue and green on your -- your money because for me this isn't business it's personal.
I personally know what debt and it.
Is he a couple of decades ago I got sick at a very sick I had cancer -- -- look like I was gonna die I know people hate this when anchors talk about themselves.
There's a purpose to this that and make.
Things were respect and I have bills and I had insurance companies.
Is that disputed paying those bills now we can get into another discussion about.
The flaws of health care system and might feel the president's -- has it fix the flaws in that system but not now activists.
Back to how I frantically was trying to pay those bills.
Anyway -- I was tapping visa credit lines MasterCard lines I was often paying one credit card off with another.
Always juggling for ever -- Here's how bad things got from it it got to the point where.
Just paying the minimum on those credit card bills and home equity loans.
Was my single biggest expense biggest ones I used to tell my wife at the time you know what the key mode doesn't kill me galactic has to pay -- well.
I don't know what scared me more back -- dying or dying in debt well as you can see an attempted CN and I didn't it's.
I beat that cancer unfortunately I got another bad disease after that but again this is -- about me activists I remember.
That is if it were only yesterday.
And you know -- -- see it happening all over again our country again today where sicker than I ever was times like a gazillion.
We pay almost 240.
Billion dollars a year just in interest.
On that sixty trillion dollar -- think about that.
That is our national finance charge not a penny of it going to pay off the -- just the -- on the -- And that's with rates really low could you imagine.
If they go really high or just a little higher I remember such a time do you do our politicians I remember that panic -- drowning in debt.
But I also remember a lot my financial Powell Dave Ramsey the freedom when I was no longer in debt when I could breathe -- I couldn't live.
When money -- used to give to visa or MasterCard I can give to myself or to my family for vacation or for my long financially suffering wife.
-- imagine that happening to our country.
Imagine actually having the money to strategically.
Invested his country I imagine what we could do.
-- -- that 240 billion dollars we're just pissing away and interest payments each year in this country.
A quarter of a trillion dollars -- payments because an apology is it Joseph Biden you wanna know the real chains and shackles in life.
It's the debt -- pile on we pylon and like the financial change that prevent us from simply living our lives.
Take it from someone who has been there.
When you had no cash you have no clout.
When you're out of money you -- out of options because you can't strategically invest slot.
And right now that is all we got squat nothing nada zip file Republicans did it Democrats did it.
We have nothing to show for after all this spending we are just spent that's what happens when you up you had nowhere to go.
But when you don't.
There is no where you can't -- You -- that's why it's so crazy about this it's elegant lunatic about this more than I do about loving napoleon's a bakery products.
Sadly events and I want to make damn sure as a country and for -- kids from my kids we and that's months and for all.
And I do -- -- -- Broadcasters to say.