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Government Debt Limiting What the U.S. Can Do?

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  • Description

    FBN’s Gerri Willis on the impact of the government’s debt on America’s future.

  • Duration 3:07
  • Date

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Our debt crisis reminds me of this moment from -- Oliver's travels.

Don't -- Is -- -- strong literally by debt carried away by -- spending.

Think about it our country has the biggest economy on the planet -- giant.

But were held down by trillions of tiny obligations.

The problem with this is that it limits what we can do it means something's -- just off the table.

What if for example Hurricane Katrina happened right now that's a 135 billion dollar -- cleanup and rebuilding.

Or what -- the devastating Japanese earthquake and tsunami occurred in California.

Instead of Japan.

I was over 300 billion dollars in damages and it's not just natural disasters -- sport these big tabs for government what about war.

We paid a 123 billion dollars the Iraq war in actual expenditures between 2001.

-- 2012.

The Afghanistan war 557.

-- billion during the same period.

I don't remember -- poppies at the same time.

Look I'm not saying we should create a budget for the next war but we have to be flexible enough financially to underwrite one what -- -- boxes tomorrow.

It's -- same reason you get insurance just in case.

Then there are those markets you do because you want to the once and make your heart soar remember this.

Believe that this nation should commit itself.

To achieving the goal before this decade is out of landing a man on the moon and returning him safely to the year.

No single -- project in this period.

Will be more impressive to mankind.

Are more important for the long range exploration of space.

And -- won't be so difficult.

Or expensive to accomplish.

Just eight years after that speech man walked on the moon an American man president Kennedy set the goal and we achieved it.

And it was expensive.

The Apollo program that took us to the -- would cost over a hundred billion dollars in today's money.

But last July we -- the space shuttle blasts off for the last time.

NASA's been grounded today the shuttles are sitting in museums because the president doesn't want to believe we can afford to dream.

It's appalling.

We need to constrain spending on the things we aren't so keen on bankrolling.

Mike's a Linder at the GSA's Vegas vacation.

So the -- the things we truly need and truly want.

Now the -- of the debt limit is heating up again speaker of the house John Boehner gave us this perspective today.

We shouldn't read the debt limit by -- fact I think we should welcome -- It's an action forcing a -- in a town that's become infamous for inaction.

That's true this debt fight has been playing out -- year.

We've gotten -- gridlock in short term solutions it's time for Washington to realize now is -- time for action go big go bolder go.

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