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FBN’s Gerri Willis on the U.S. debt exceeding 100% of GDP as the economy’s growth slows in the first quarter.
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But I'm frank US economic growth slowing in the first three months of the year to just 2.2 percent Gerri Willis is -- to break down.
All of these numbers some of them ugly.
Well a lot of -- but -- -- -- -- fifteen point 46 trillion UAL NG EP that's not our idea our government debt.
-- 015 point 58 trillion -- which is bigger.
Our GDP now is.
Are actually are dead as a hundred point 778.
Of our GDP not that reminds you what Greece right yes we are now on a par with Greece when you compare our debt.
And our economic output it and it's a tragedy and is the first time we've been here and that's why I'm pointing.
Now looking at some of these other numbers Czech Republic 41%.
Slovakia 43% Spain by the -- is about 69% so you think -- bad off.
They UA's US -- list USA hint about a company that printing presses unfortunately and that seems to keep getting -- this.
Well it's getting us through that's but only temporarily you know the part of these numbers onstage and it bothers me the most is that are saving -- sure we're spending more it was a personal consumption go up and our savings rate.
Three point 9% the first quarter vs four point 5% in the fourth quarter I think is a great thing to point out were spending more about how are we doing it.
Credit cards credit cards right -- -- we're not make you more money we know our average hourly wages are not going up -- we can't from.
And I think it's a funny money yeah limit -- what else for doing that's really ticking me off today given the numbers I just gave you right we're continuing to spend.
Bipartisan.
Everybody wants to sell that student debt loan Craig -- -- sort of put six point eight billion dollars behind that of federal money why why I ask you.
The post office eleven billion both sides signing on to -- the post -- raise money and that housing program -- write off this mortgage debt yet.
-- 128 billion and so you know both sides of the aisle here wanna continue to spend despite the fact that we can't afford it.
Spending more than we're taking in essentially right which is.
That's -- so it's no as a political spine.
As we suggested post office should go the way Milli Vanilli backing the student loan thing isn't that ridiculous right now that and the notion that we're putting any more money and that.
-- having markets crazy I think Milli Vanilli is doing okay compared to what I want to.
I think lip syncing or not -- don't yet have a precisely -- I'd tell -- -- -- outlook we're doing some of this we're doing a little evidence that we've got a lot going on tonight.
I've turned remember what else we have in the show tonight and it just I got so involved in the number is -- remember Milli -- that we've got in his family lives hanging right at five and -- -- -- here on -- what -- that's the -- that matters now.
Aren't you -- -- -- you know its shareholders.
