America's debt crisis 2013
As a member of the Senate Budget Committee, I have fought for serious and lasting budget reform.
Welcome to, democracy Now!
A lack of leadership from the White House, years without a budget, countless mandates, and expanded government programs have gotten us to this point.In 2013, Medicaid outlays will increase by 15 billion (or 6 percent CBO estimates.And so, first of all, we tackle the problem of Wall Street and the wealthy not paying their fair share.And our report is really focused on this.This is an issue I think the supercommittee completely ignored: all of the money that is now going into these perverse incentives to support the fossil fuel industry, making oil and gas artificially cheap.And so far, that refusal continues to be the main stumbling block that has prevented Congress from reaching an agreement to further reduce our deficit.Just after midnight East Coast time, president Barack Obama signed legislation to reopen the Federal government, fund its operations until January 15 2013 and extend the country's borrowing authority for another four months, to February.Talk about the significance of this debt lock in Washington, the failure of the supercommittee, and why you think the country isnt broke, Sarah.This weeks legislation rejected Democrats demands to increase spending.I look forward to using this opportunity to right Americas financial future from a path destined for debt and uncertainty to a path toward security and prosperity.And again, to have a vision of our economy that is looking 20, 30 years down the road, if you do that, you see we need to invest now in ways that can not only create a lot of jobs and put people back.Creative Commons Attribution-Noncommercial-No keygen easyworship 2009 build 1.9 Derivative Works.0 United States License.A trigger.2 trillion in automatic spending cuts over 10 years to military and domestic programs takes effect in 2013.
In fact, we are making progress.
As a result, gross federal debt is projected to reach.1 trillion at the end of 2023.
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