little more like washington is really going to dreamworld but joining to talk about reality is edward harrison he's founder of the blog credit write downs dot com thank you for being here good to be here ok given this economic growth which has been essentially nothing over the last couple of quarters and the fact that lawmakers are looking at the reaper cent growth factored in their models earlier this week i also talked about how the trillion dollars in defense spending was a made up number that the c.b.l. never meant to actually be used does anybody have a plan that would actually achieve anything is this just bogus the the whole thing is just a manufactured crisis the reality is that when barack obama came into the white house in two thousand and nine the previous projection for the deficit was one hundred ninety eight billion dollars we know that basically that was the baseline that was blown out as a result of the financial crisis and the fact that so many people are unemployed so the end of the day really what we're seeing right now in the united states is the jobs crisis and no one's re

paul harrison, sky news, for cbs news, on prince edward island. >> ah, the advice of the newlyweds.ll take a break from their busy schedule and head off on a private retreat. we'll have more on your royals a little bit later in the show. we'll be right back. this is "the early show" on cbsl our fruit has to be perfectly ripe because it's delivered on the same day. for me? this is so beautiful! edible arrangements. enjoy the most delicious fruit ever. guaranteed. starting at $25. we all want fewer chemicals. new all free clear oxi-active. a free clear detergent that's tough on stains and gentle on skin. try new all free clear oxi-active. ♪ ♪ ♪ [ male announcer ] say hello to the new mango pineapple real fruit smoothies from mccafé, bursting with fresh flavors and blended with creamy low-fat yogurt. the simple joy of exotic refreshment. ♪ the simple joy of exotic refreshment. ,,,,,♪ it's tsunnyd!you bring out the sun ♪ ♪ it's the way you make it all fun ♪ know who makes the day sunny? my mom and sunny d! i love the taste. mom loves the vitamin c. and now it has 40% fewer calories than

and does austerity even work let's break it down with our guest tonight harrison founder of the blog credit write downs are edward thank you so much for joining us tonight l. ike i said these are different situations but i think that we can find some similarities and some points to work off of and let's just start with total debt both countries are in debt but i think the u.s. is in much worse shape u.k. total debt one point four trillion dollars us oh we're just at fourteen point four trillion dollars so when you break that down that means that debt per person is about twenty three thousand seven hundred ninety one for a british person and we're almost fifty thousand dollars per person in the u.s. so obviously our debt problem is much worse than britain's debt problem why are they the ones that are acting like this is an emergency and they have to do something about it right away and our politicians are just becoming on capitol hill well i'm not sure what the stats in terms of how they break it down but in general if you were to take the aggregate debt that's not held by the government you know in the u.s. for i