discuss america's out of control debt situation i'm joined by martin henican hong kong he's an associate director at the tike group in cambridge we have jeffrey frankel he's a professor of capital formation and growth at the harvard kennedy school and in new york we cross to joe weisenthal he is the deputy editor at the business insider all right gentlemen this is crosstalk that means you can jump in anytime you want but first let's have a quick look at america's debt mess. going broke going for broke wanting selfhood asked if the l.s.o. fourteen point three trillion dollar debt ceiling is lifted by need me on the lines of course that the u.s. is on a federal budget so how do original money lives public debt at more than fourteen point two trillion dollars and rising by four wheel and all or is that a massive iou to the next generation forty three cents of every dollar we spend this year. we borrowed against the future of our children the compromise voided a u.s. government shutdown with agreement on the largest single spending cut in u.s. history but thirty eight billion dollars is smal