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yesterday he said you know we have a debt crisis blind
well we don't have that debt crisis
the what is the crisis
i mean we had there's plenty more revenue for us to get out there we have
we're pulling in revenue
rates did fifteen percentage a_t_p_ we haven't seen this in ages
part of that's because of the recession in part of it is because the bush tax
cuts
so you could raise uh... revenue
by gifts in the if dignity of the definition of a crisis that you have
some type of problem what is the problem with the deck right now
given urgent problem with the dead you know
we were urging problem when joblessness
i mean it's like uh... it's like saying can you explain why we don't have a
tsunami crisis well because there's an absence of an impending tsunami hitting
us
uh...
people are still loaning us money
pat
rates that a actually profitable for us to borrow the money i'm talking about
the u_s_ government
there is simply no reason to believe that our debt is causing any type of
crisis
there's no
there are no implications to our debt at least
shorter near-term
certainly none that are at the well i'm not that there's none that i mean do you
know you want to talk about long-term debt
increase taxes
deal at all the bush tax cuts expire
you reduce the deficit
within died or no
couple of decades
and you starting year wait the debt
but uh... what is the crisis
and um...
i think will uh... will hear from uh... some uh... amman and modern monetary
theorist
mccumber into a startling
books point was that
from their perspective
scoop legally irrelevant
i mean the only potential
problem that people can really viewpoint to
or even theorize at this point is
some type of uh... runaway inflation
hey there's no end evidence that we are
experiencing that at all
tax people are starting to get more concerned again together about deflation
out