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Greg Valliere of the Potomac Research Group discusses whether the national debt will impact the presidential election.
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Now this.
The national debt expected across sixteen trillion dollars in the next few day is -- next week you can expect Republicans of the RNC convention to use that probably against President Obama fifteen not.
79.
Right now -- yes still -- this thank you very much.
I I've got to believe that Republicans would jump Moldova a sixteen trillion dollar debt months.
-- I'm sure Stewart it's a it's a potent issue.
It stokes a lot of fear that where the next Greece or whatever.
But let me make this point I'll probably disagree with you again as I often do.
Let me make this point Stuart.
The bond market doesn't care.
The treasury ten year bond yields -- crept up a little but they're still under 2% there is an insatiable demand for US debt.
I don't see that changing any time soon.
Out of his insatiable demand from the big guys in Europe who were running away from the Euro in drug -- so that -- helping us and you know.
If you little ordinary people voters across the country when presented with a sixteen trillion dollar national debt that does mean something.
May don't mean much do you bond market guys they understood.
But regular people how -- ever gonna repay this and who -- -- -- that's going to be a question.
Right.
Oh it's.
It's a terrible story it's nothing that anybody should be happy about.
But -- you know I I have this theme that I've been writing more and more about and that is.
The fact that we all agree on big concepts but we can't agree on the details we agree we've got to do something about this.
But when people are asked what what would you favor doing.
People don't even want to close post offices in districts where the post offices are wildly unprofitable.
People don't want any cuts in benefits any cuts in spending they don't want taxes to go up so yes it's a terrible story except but we can't figure out how to solve it.
Hold on a second -- -- if you twenty seconds right now on the Romney plan to deal with the deficit I can do that.
Can you give me twenty seconds on president Obama's plan to deal with the deficit -- I I have a real hard time defending him he has abdicated Stewart -- so many of these issues especially entitlements he gets very poor grades in my opinion on that.
But you've got to say the Paul Ryan plan doesn't balance the budget for a couple of decades so I mean there's no -- here everybody I think.
Has to share some of the blame in not taking this seriously one other point real quickly they put Simpson Bowles on the floor of the house for an up or down vote.
-- 435.
Members of the house it got 38.
Votes I still don't see a sense of seriousness here on really doing something.
I think you're right on glass.
I just think it's a very big issue in the campaign.
In the election and I think it's a negative for President Obama and a potential winner for the wrong they're wrong and ticket last week because.
Yes because Obama has abdicated on this and I think you're absolutely right it's one of many reasons why this race is razor thin.
Why Obama is still in real trouble.
By the way -- I think we've just hit a new high for the S&P 500 that is.
That's my Romney rally okay -- there you go back okay Stuart.
Great to see if you -- I was -- all right much them.
-- that.
