Also in this playlist...
This transcript is automatically generated
States is heading towards its fourteen point three trillion dollar debt ceiling several countries in Europe -- full blown debt crisis -- that so there's a question.
Is -- a bigger threat to our national security than terrorism.
Joining the company US ambassador to the united.
His ambassador John Bolton so welcomed the program going to be here -- posed the question debts -- terrorism the biggest threat -- -- use both.
Could have that -- left out of the difference the difference is that we hold the solution to the debt problem in our own hands we created we can solve it.
The terrorists are not likely to be so cooperative but let's be clear I do think.
That the federal deficits and extraordinary level of national debt we have is a national security issue there's there's simply no doubt that this -- -- of imperiling about our economy which is what this overhang of -- is doing and we can see it in the interest rates the external debt held by foreign countries and -- drying up of credit sources for private business ultimately weakens our economic.
Performance and inhibits our ability to project power around the world what do you make of this as some.
Questioning the long term outlook of America's credit what what what what does that say to the world.
Well I think it's a devastating signal and and I would like to stress that they are talking about the long range out there they're not talking about the debt ceiling debate that.
Which means it's even more worrying and I think their point is.
That that the president has shown no indication what ever.
That he -- that he really wants to get serious about the -- I think there's an explanation for that and that's what they're really worried about.
This is not about spending -- taxes debt and deficit it's about the share of the federal government in the total economy of the country.
Obama wants to get it up from its 1718%.
-- normal range as high up does he can and he's he's having enormous success with the he's trying to create a social democratic America and.
Ambassador those things like this you know negative outlook and obviously would have problems financial problems.
That this week and as diplomatically does this give us left standing in the world to push an agenda that we would like to put.
I think it feeds the perception that America is in decline were in decline militarily we're in decline politically were in decline economically I have to think that that the causes of the decline are also in our own own hands namely the voters.
In upcoming elections but the broad perception around the world today fed by Libya and this utterly incoherent policy we have -- -- Qaddafi the weakness of American military capability you know get a debt downgrading -- like this.
I think I think that the perception that continues the cycle them the what do you make of -- -- the right now the price of oil is down two dollars and sixty cents about what we're down sharply.
In part because Saudi Arabia says.
The -- is well supplied with oil.
What do you make of the -- Well I think the that the price of oil is going down today in part because the dollars up against the Euro but let's not let's not leave the European debt situation aside I don't understand how people can -- the Euro up.
As they have over the past several months in the face of these utterly -- resolved European sovereign debt.
Crises which I think still imperil the Euro I don't think the euros out of the woods yet.
They talk about terrorism.
Can we spend more on homeland security and really reduce our defense budget I mean close bases in Germany can we do that as a nation in and help us.
With our spending problem but there's always waste and fraud in the defense and Homeland Security budget there's no question about it it's part of the government but what I would do would be to find savings which I think we can find.
But -- them back into more defense spending we are not overspending on defense -- understanding if you look at the deficit problem that creates cut more domestic spending.
Can't do that it.
Well -- not yet but that's why that's funny twelve elections are so important both who gets to be president and who controls the congress can you see America -- him.
Drastically can -- -- America cutting a trillion dollars a year.
Well I I think the Ryan plan which is the only one out there that has any intellectual coherence put you on the road to start doing that and unless we do this perception around the world that we have and heard a decline.
That will make us more like you -- inevitably will turn out to be true as a European and I hope you're wrong so I hope I'm wrong -- ambassador was a pleasure thanks enjoy.
Filter by section