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before and he's very low probably the lowest among the developed countries about ten percent of g.d.p. national coming in this macroeconomic circumstances we can really do everything for our economy and this is what can you. government will work. but i'd like to ask about. was turned into police so it's a new form but about the content it's about the same. personnel who beat people using their position they still. get reports come on a daily basis for instance we're going to report yesterday we need to reform the police is that right. well i think nobody should have to do that in is that we can achieve something in just six months as a result of an administrative reforms you have a completely new police force. and most of. law enforcement the name has been changed but it seems people working there of course some of the people did not pass the test and they were dismissed. let me finish. but this doesn't mean that all of them to change the immediately. also list we cannot use them my dear says the general level of. law and order based on an interview just to on the individual cases this is a goo
before and he's very low probably the lowest among the developed countries about ten percent of g.d.p. national coming in this macroeconomic circumstances we can really do everything for our economy and this is what can you. government will work. but i'd like to ask about. was turned into police so it's a new form but about the content it's about the same. personnel who beat people using their position they still. get reports come on a daily basis for instance we're going to report yesterday we...
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rest of the news this week the united nations is hosting a major conference on happiness that's right with the world obsessed with wealth austerity and debt to g.d.p. levels the united nations is taking a step back and figure out what makes people in some nations way happier than people in other nations conferences hosted by the king of boot on a small country in mali and mountains which on is one of the poorest nations in the world yet it's the happiest nation in the world and one of the happiest in the world and so what does know that the rest of us don't well that's what the united nations wants to find out last night's show we talked a little bit about this topic by this sect in the nation of denmark which routinely tops the list of happiest nations on the planet take a look. so here we have denmark a nation with taxes and higher rates than we do in the united states gives basic health care and free education all its citizens hasn't sold their elections off to the highest bidder doesn't place any importance on arming their citizens against each other isn't involved in any wars abroad and has seventy two percent of its workers union eyes hearin
rest of the news this week the united nations is hosting a major conference on happiness that's right with the world obsessed with wealth austerity and debt to g.d.p. levels the united nations is taking a step back and figure out what makes people in some nations way happier than people in other nations conferences hosted by the king of boot on a small country in mali and mountains which on is one of the poorest nations in the world yet it's the happiest nation in the world and one of the...
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in developed nations by two thousand one hundred that it will cost one hundred percent of the nation's g.d.p. in the next forty years to support them the i.m.f. says the private sector will not be able to bear the burden and the retirement age what have to be raised. i want to hold we're going to be when it's time for us to retire i carry i don't feel like they're going to keep raising that i'm raising that i'm going to be a hundred and still works. in many thanks for that. well stay with us for the sports news but first our must go out program right after. the show. which brightened if you want some.
in developed nations by two thousand one hundred that it will cost one hundred percent of the nation's g.d.p. in the next forty years to support them the i.m.f. says the private sector will not be able to bear the burden and the retirement age what have to be raised. i want to hold we're going to be when it's time for us to retire i carry i don't feel like they're going to keep raising that i'm raising that i'm going to be a hundred and still works. in many thanks for that. well stay with us...
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developed nations might see thousand one hundred and it will cause one hundred percent of the nation's g.d.p. in the next thirty years to support them the i.m.f. says the private sector will not be able to bear the burden and the retirement age will have. of the rights. also the all of this new studio in the world universal wants to build its first european and seventh hardware and moscow the project is worth around three billion dollars and such parts twenty five million visitors a year and the new last single entry costs around eighty five dollars. walker i have to sound excited about that how i have to say that yeah absolutely thanks for that maria. on the way shortly must go out for those the kids taking to the cat more suffer and update you on the headlines in just a few minutes. wealthy british style. sometimes looks like. a pretty high. market. come to find out what's really happening to the global economy for a no holds barred look at the global financial headlines to me cause a report.
developed nations might see thousand one hundred and it will cause one hundred percent of the nation's g.d.p. in the next thirty years to support them the i.m.f. says the private sector will not be able to bear the burden and the retirement age will have. of the rights. also the all of this new studio in the world universal wants to build its first european and seventh hardware and moscow the project is worth around three billion dollars and such parts twenty five million visitors a year and...
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in developed nations by sea thousand one hundred and that will cost one hundred percent of the nation's g.d.p. in the next four years to support them the i.m.f. says the private sector will not be able to bag the burden and the retirement age will have to be raised also the whole of this movie studio in the world universal wants to build its first european and stayman park and most scope the project is worth around three billion dollars and such parts host twenty five million visitors a year in the u.s. where a single entry costs around eighty five dollars. and also we have another story this time the owner of an adult site called perfect time dot com is syrian russia's top search engine decks you're about to see it there and that's not a violation of copyright for its nude photos it says illegally places ads near the photos and also passwords for the site's paid services could be found in neon that says search results perfect time dot com was and five million dollars compensation and earlier the site sued google amazon and microsoft for the same reasons god loves the suits. i don't think the
in developed nations by sea thousand one hundred and that will cost one hundred percent of the nation's g.d.p. in the next four years to support them the i.m.f. says the private sector will not be able to bag the burden and the retirement age will have to be raised also the whole of this movie studio in the world universal wants to build its first european and stayman park and most scope the project is worth around three billion dollars and such parts host twenty five million visitors a year in...
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be better off and happen weir and smarter and live in a country that is higher national income and higher per capita g.d.p. and more secure, then you want to have immigration of all sorts, too. that's the funny part and that's the final point. we know that cultural, but particularly economic development isn't so much about keeping the wrong people out of a country. it turns out that it is as much or maybe dominantly about letting the right people in to a country. and the right people, as it happens, is a very broad swath of people. it is not just outstanding researchers, it is this broad spectrum because there is no gene for the human spirit, but there is a little signal. one of the signals is someone who gives up so much to take such a huge risk and to come here despite our recent signals of not particularly welcoming them is someone who has something that we probably want. and if you give me three years, we'll have that quantified a little bit better. thank you. [applause]>>t. that was excellent. we do have headsets and translation services available. if you require translation assistance, please see sa
be better off and happen weir and smarter and live in a country that is higher national income and higher per capita g.d.p. and more secure, then you want to have immigration of all sorts, too. that's the funny part and that's the final point. we know that cultural, but particularly economic development isn't so much about keeping the wrong people out of a country. it turns out that it is as much or maybe dominantly about letting the right people in to a country. and the right people, as it...
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comes to russia's ability to resist the potential crisis well currently the national reserve fund is about three percent of g.d.p. or sr is its forecast for two thousand and twelve so i think there is too there's quite a buffer there and i think correction economy could cope with the recession in the european union another spike in oil prices could benefit russia if the upcoming negotiations with iran result in more sanctions if they finance ministries determined to save all the additional oil revenue to either replenishes or fund a cunt domestic borrowing like world it took right under which it was so russian bonding if you were to tell. them how was your life and if you think it's have if you had to become a child something was right if something major problem if your life insurance. company just was my mother was an innocent child up for the money you have to. ok to me i'm going to start out with you know kind of a mixed picture right there i mean there's a lot of optimism but there's still some kind of uncertainty most of it is from external issues. we're looking at the eurozone we're looking at oil prices w
comes to russia's ability to resist the potential crisis well currently the national reserve fund is about three percent of g.d.p. or sr is its forecast for two thousand and twelve so i think there is too there's quite a buffer there and i think correction economy could cope with the recession in the european union another spike in oil prices could benefit russia if the upcoming negotiations with iran result in more sanctions if they finance ministries determined to save all the additional oil...
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g.d.p. all the extra money will be going into infrastructure projects and into a longer national well. but also a very important point of letting up this in may which is pretty much the gas in the street is that taxation in this industry is very low it's justifiably low so this is also something. we've been talking about rules in this partnership deal with america's exxon mobil signed yesterday rosneft get technical expertise. chris we've got from troika dialogue there's the type makes sense the arctic has its significant potential to for for a major source of oil and gas in the future russia needs to open up this area in order to acquire secure new sources of oil and gas as existing for a production base going to decline over the next decade similarly for exxon mobil this is the only place on the planet where a company like exxon mobil can also get access to significant new reserves we know to big cost of developing the article is going to be very significant and the exploration phase alone will be several billion dollars and the total cost of eventually bring in oil and gas to the su
g.d.p. all the extra money will be going into infrastructure projects and into a longer national well. but also a very important point of letting up this in may which is pretty much the gas in the street is that taxation in this industry is very low it's justifiably low so this is also something. we've been talking about rules in this partnership deal with america's exxon mobil signed yesterday rosneft get technical expertise. chris we've got from troika dialogue there's the type makes sense...
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g.d.p. all the extra money will then be spent on state infrastructure projects and accumulated into. national wealth and also a very important point of that even though it's a mate is that taxation in the gas industry is very low it's justifiably low so this is what we may be looking out for and these are the matters that russia is using to its advantage richard. thank you we'll have more on that story as the day develops now we've been talking about. deal with america's yesterday what does it all mean chris we thought from. the arctic has its significant potential for a major source of oil and gas in the future russia needs to open up this area in order to acquire secure new sources of oil and gas as existing production base go into decline over the next decade similarly for exxon mobil this is the only place on the planet where a company like exxon mobil can also get access to significant new reserves the cost of developing the article is going to be very significant the exploration phase alone will be several billion dollars and the total cost of eventually bring in oil and gas to the surf
g.d.p. all the extra money will then be spent on state infrastructure projects and accumulated into. national wealth and also a very important point of that even though it's a mate is that taxation in the gas industry is very low it's justifiably low so this is what we may be looking out for and these are the matters that russia is using to its advantage richard. thank you we'll have more on that story as the day develops now we've been talking about. deal with america's yesterday what does it...
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g.d.p. only extra money will be going into big infrastructure projects and into a longer term national welfare thought and i'm also a very important point of letting a person made which pretty much spooked the gas industry is that taxation in this industry is very low it's on justifiably low so this is also something to look out . we've been talking about rules newest groundbreaking polish it deal with america's exxon mobile sun yesterday at its heart rose and if it's technical expertise and access to russia's go to because we are from troy could i live explains. the arctic has its significant potential too for for a major source of oil and gas in the future russia needs to open up this area in order to acquire secure new sources of oil and gas as existing from reduction base going to decline over the next decade similarly for exxon mobil this is the only place on the planet where a company like exxon mobil can also get access to significant new reserves we know that the cost of developing a new york chicken is going to be very significant be exploration phase alone would be several billion do
g.d.p. only extra money will be going into big infrastructure projects and into a longer term national welfare thought and i'm also a very important point of letting a person made which pretty much spooked the gas industry is that taxation in this industry is very low it's on justifiably low so this is also something to look out . we've been talking about rules newest groundbreaking polish it deal with america's exxon mobile sun yesterday at its heart rose and if it's technical expertise and...
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g.d.p. all the extra money will be going into big infrastructure projects and into a longer term national welfare but also a very important point of letting approximate which pretty much spooked the gas industry is that taxation in this industry is very low it's justifiably low so this is also something to look out. richard is doing because we've been talking about rules nist groundbreaking poll should deal with america's signed yesterday and its whole reason for good technical expertise and its own gains access to russia's also involves unconventional extraction projects such as show gas christine says corrina from ratings agency standard and pools explains why this makes sense for russia. it is estimated that in terms of conventional recoverable reserves russia has around one hundred trillion cubic meters in terms of gas but if you look at unconventional potential excluding hydrates it is estimated thirty of can have anything between one hundred fifty to five hundred trillion cubic meters so that's a huge potential they've seen that. the united states so they're trying to cover their faces star
g.d.p. all the extra money will be going into big infrastructure projects and into a longer term national welfare but also a very important point of letting approximate which pretty much spooked the gas industry is that taxation in this industry is very low it's justifiably low so this is also something to look out. richard is doing because we've been talking about rules nist groundbreaking poll should deal with america's signed yesterday and its whole reason for good technical expertise and...
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g.d.p. all the extra money will be going into the big infrastructure projects and into a longer national wealth. and also a very important point. which pretty much of the gas industry is that taxation in this industry is very low it's justifiably low so this is also something to look out. there we've been talking about groundbreaking partnership deal with america's mobile side yesterday at its. technical expertise and. to grocers but also evolves on conventional instruction projects such as shale gas christine just corrina from ratings agencies because explains why this makes sense for russia it is estimated that in terms of conventional recoverable reserves russia has around one hundred trillion cubic meters in terms of gas but if you look at unconventional potential excluding hydrates he says the main severity of can have anything between one hundred fifty to five hundred trillion cubic meters so that's a huge potential they've seen that. harden the united states so they're trying to cover their faces start understanding how to develop these potential resources in the future that could probab
g.d.p. all the extra money will be going into the big infrastructure projects and into a longer national wealth. and also a very important point. which pretty much of the gas industry is that taxation in this industry is very low it's justifiably low so this is also something to look out. there we've been talking about groundbreaking partnership deal with america's mobile side yesterday at its. technical expertise and. to grocers but also evolves on conventional instruction projects such as...
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g.d.p. and other government statistics can and should be more focused on what is known as a national happiness index for this money still make the world go round. live. you can see live. cross typing in the index of happiness i'm joined by mark and elsie in edmonton he's an economist and author of the economics of happiness building genuine wealthy is also an adjunct professor at the university of alberta in london we have some of dollar he has a researcher and data expert at the new economics foundation center for wellbeing and also in london we have christopher snowden he's a research fellow at the institute of economic affairs all right gentlemen this is cross-eyed it means you can jump in anytime you want mark do you believe in an index of happiness because we all know what g.d.p. is we can all follow the stock markets and we know what financial institutions are doing if they're going up or down we know about mortgages we know just about everything you can imagine about the economy except for maybe if people are happy. i think we should i believe we already have the gallup well-being index
g.d.p. and other government statistics can and should be more focused on what is known as a national happiness index for this money still make the world go round. live. you can see live. cross typing in the index of happiness i'm joined by mark and elsie in edmonton he's an economist and author of the economics of happiness building genuine wealthy is also an adjunct professor at the university of alberta in london we have some of dollar he has a researcher and data expert at the new economics...
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debt situation because the new us national debt is that fifteen point six trillion dollars according to the most recent numbers we've seen that's higher than u.s. g.d.p. you can see there how it skyrocketed since one thousand forty and look most of that has been accumulated in the last twenty years only seven percent of that accumulated before ronald reagan was president you can see how the rest is divided up there now if we stay on the path we've been going the national debt will reach twenty trillion dollars by two thousand and fifteen and according to jim quinn of burning platform on a hedge post if interest rates normalized to the same level they were in two thousand and seven which was five percent annual interest expense would be a trillion dollars or forty five percent of current tax revenue and if you want something more official the c.b. you know says the debt will reach twenty one point seven trillion by twenty twenty two now according to u.s. census data the share of the population that is working has fallen to its lowest level since women started entering the workforce in large numbers three decades ago you could see there it's forty five
debt situation because the new us national debt is that fifteen point six trillion dollars according to the most recent numbers we've seen that's higher than u.s. g.d.p. you can see there how it skyrocketed since one thousand forty and look most of that has been accumulated in the last twenty years only seven percent of that accumulated before ronald reagan was president you can see how the rest is divided up there now if we stay on the path we've been going the national debt will reach twenty...
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g.d.p. terms so we would think if they have not already overtaken the u.s. which is quite possible then two hundred sixteen to the nation that's probably the latest date so clearly from an investor's perspective you are you all should better look at china gaining some exposure in some way form or geopolitical perspective clearly it's gaining influence quite strongly and it's probably a good thing that this is happening you know a trend and russia can criticize a lot in the u.s. but then as we all know there are different perspectives on this and some countries often say that the western interests are stabilizing the world and not the other way around so generally yes china will be probably number one soon and we think it's a good say ok josh when you your priorities are you not disagreeing ok but you react to what martin just said. yeah martin i mean i think no one can deny the rapid growth the try to see in the last few years but the fact of the matter is that just in nominal g.d.p. terms the u.s. has more than double china now just around fifteen trillion u.s. dollars with china around six trillion u.s. dollars i don'
g.d.p. terms so we would think if they have not already overtaken the u.s. which is quite possible then two hundred sixteen to the nation that's probably the latest date so clearly from an investor's perspective you are you all should better look at china gaining some exposure in some way form or geopolitical perspective clearly it's gaining influence quite strongly and it's probably a good thing that this is happening you know a trend and russia can criticize a lot in the u.s. but then as we...
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g.d.p. terms or when you would think if they have not already overtaken the u.s. which is quite possible then to the and sixteen to those nations that's probably the latest date so clearly from an investor's perspective you better look at china gaining some exposure in some way from a geopolitical perspective clearly it's. gaining influence quite strongly and it's probably a good thing that this is happening you know china and russia have been criticizing a lot in the west but then as we all know there are different perspectives on this and the eastern countries often say that the western interests are stabilizing the world and not the other way around so generally yes china very be probably number one so we think it's a good saying ok josh when you your priorities are you not disagreeing ok. you can react with more in just. yeah martin i mean i think no one can deny the rapid growth of china seen in the last few years but the fact of the matter is that just in nominal g.d.p. terms the u.s. has more than double china now are just around fifteen trillion u.s. dollars with china around six trillion u.s. dollars i don't see i don'
g.d.p. terms or when you would think if they have not already overtaken the u.s. which is quite possible then to the and sixteen to those nations that's probably the latest date so clearly from an investor's perspective you better look at china gaining some exposure in some way from a geopolitical perspective clearly it's. gaining influence quite strongly and it's probably a good thing that this is happening you know china and russia have been criticizing a lot in the west but then as we all...
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g.d.p. . but your response to rewrite i don't want to. cast. it is because we are requesting the capital. and its history and its massive spending on the wars in the nation ranks and cause . i. was. following her courageous act of civil disobedience former presidential candidate ralph nader who is also a member of the group veterans for peace released this statement saying the government is dysfunctional working for corporate interests rather than providing for the people's necessities boulder showed active citizens should be doing peacefully confronting the corruption corruption and on making sure the public knows what is really going on she should be honored for her actions and sort of being honored for actions this week we're baltar is facing a judge and could be sentenced to six months in prison for that disruption of a congressional hearing that you just saw joins me now she's a retired navy commander and now the president of the organization veterans for peace leah welcome thank you and you know good on you congratulations for speaking out. i understand how difficult that must be and how intimidating. what prompted you to do this well you know a lo
g.d.p. . but your response to rewrite i don't want to. cast. it is because we are requesting the capital. and its history and its massive spending on the wars in the nation ranks and cause . i. was. following her courageous act of civil disobedience former presidential candidate ralph nader who is also a member of the group veterans for peace released this statement saying the government is dysfunctional working for corporate interests rather than providing for the people's necessities boulder...
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nations and they had pretty good positive talks very constructive dialogue and they agreed to meet again on in maze so those concerns are easing and of course china reporting weaker than expected g.d.p. figures is also raising concerns that the demand for commodities my work going forward and that's all the latest from the business desk kerry i'll be back in about fifteen minutes. ok back to the update attachable see you get sick. of that coming your way next our special report which tells the story of a florida software programmer who claims he was asked by a powerful republican to create a vote rigging software. the headline shortall stimulus. there hasn't been anything good on t.v. he. used to get the maximum physical in fact. before the source material is what helps keep journalism honest we. we wanted to visit. something else. something lies beneath. the. thousands of meters of the ice broke. the law. that is a lure for many. but dangerous even to those who keep it at a distance.
nations and they had pretty good positive talks very constructive dialogue and they agreed to meet again on in maze so those concerns are easing and of course china reporting weaker than expected g.d.p. figures is also raising concerns that the demand for commodities my work going forward and that's all the latest from the business desk kerry i'll be back in about fifteen minutes. ok back to the update attachable see you get sick. of that coming your way next our special report which tells the...
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g.d.p. so we have lower overall spending as a share of the national income than was the case during the reaganadministration. and, in fact, discretionary spending goes to an all-time low of 4.8% by the end of the ten-year plan. you can see discretionary spending that is distinct from mandatory spending. mandatory spending are things like social security and medicare. discretionary spending are things like defense and national parks and law enforcement, education. you can see discretionary spending as a share of our national income is dropping very sharply under this plan. what's happening on the other side of the ledger is the 800-pound gorilla, which is health care. that is the thing which threatens to spafrp the boat around here -- swamp the boat. in 1972, federal health spending was about 1% of our gross domestic product. if we don't take further steps by 2015, it's going -- 2050, it's going to be 13% of our gross domestic product. from 1% to 13%. right now in this country, 18% of our g.d.p. is going to health care. one in every six dollars in our whole economy is going to health care. more
g.d.p. so we have lower overall spending as a share of the national income than was the case during the reaganadministration. and, in fact, discretionary spending goes to an all-time low of 4.8% by the end of the ten-year plan. you can see discretionary spending that is distinct from mandatory spending. mandatory spending are things like social security and medicare. discretionary spending are things like defense and national parks and law enforcement, education. you can see discretionary...
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nation's economy is growing 2.2% all of this very bad news for president obama. here now to explain it economic legend lou dobbs. why should i care about the debt passing the g.d.p why -- what does that mean to me? >> it means there is less money available for private investment, less money to create jobs. and we are continuing to see this government just simply subsume our private economy. >> bill: nobody understands. i don't understand it. >> let me put iten iten it conte me some concrete thing why i should care. >> if we see interest rates rise another point or two. we will see the money necessary to service the debt rise to the same level as our defense budget. we will be spending on our indebtedness the same amount as we spend on defense. >> it's all about us owing money and running up the tab. that's what it is really -- it always comes back to the same thing. >> we spend far too much money in this country. we can't cover our debts. we have to print more money, actually physically print it to pay off our debts, all right, and that diminishes our dollars, what we have in our wallet. it makes the value of what we have go down. >> and the price of oil, for ex
nation's economy is growing 2.2% all of this very bad news for president obama. here now to explain it economic legend lou dobbs. why should i care about the debt passing the g.d.p why -- what does that mean to me? >> it means there is less money available for private investment, less money to create jobs. and we are continuing to see this government just simply subsume our private economy. >> bill: nobody understands. i don't understand it. >> let me put iten iten it conte me...
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nation's economy is growing 2.2% all of this very bad news for president obama. here now to explain it economic legend lou dobbs. why should i care about the debt passing the g.d.phy -- what does that mean to me? >> it means there is less money available for private investment, less money to create jobs. and we are continuing to see this government just simply subsume our private economy. >> bill: nobody understands. i don't understand it. >> let me put iten iten it conte me some concrete thing why i should care. >> if we see interest rates rise another point or two. we will see the money necessary to service the debt rise to the same level as our defense budget. we will be spending on our indebtedness the same amount as we spend on defense. >> it's all about us owing money and running up the tab. that's what it is really -- it always comes back to the same thing. >> we spend far too much money in this country. we can't cover our debts. we have to print more money, actually physically print it to pay off our debts, all right, and that diminishes our dollars, what we have in our wallet. it makes the value of what we have go down. >> and the price of oil, for exam
nation's economy is growing 2.2% all of this very bad news for president obama. here now to explain it economic legend lou dobbs. why should i care about the debt passing the g.d.phy -- what does that mean to me? >> it means there is less money available for private investment, less money to create jobs. and we are continuing to see this government just simply subsume our private economy. >> bill: nobody understands. i don't understand it. >> let me put iten iten it conte me...
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g.d.p. in the country. in 2010, small businesses outpaced gross job gains of large businesses by 3-1. as the national labor relations board has publicly indicated, ambush elections are only the beginning of a round of regulations aimed at making it easier for unions to win representation elections in american workplaces. proposed regulations such as requiring small businesses to compile a list of employee phone numbers and emails and then hand them over to union organizers before an election are time consuming. they are costly, they are extremely invasive. furthermore, they are indicative of how this administration is more concerned about boosting labor union membership than creating jobs. we have got to create jobs. we cannot continue to pick on the small businessman and put him at a disadvantage. this is a rule that is looking for a place to act. it's not one that was needed or requested other than by labor organizers. it will have a repercussion, i would think, so i would ask everyone to vote for the resolution of disapproval so this does not go into effect. although we have been promised, of cour
g.d.p. in the country. in 2010, small businesses outpaced gross job gains of large businesses by 3-1. as the national labor relations board has publicly indicated, ambush elections are only the beginning of a round of regulations aimed at making it easier for unions to win representation elections in american workplaces. proposed regulations such as requiring small businesses to compile a list of employee phone numbers and emails and then hand them over to union organizers before an election...
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nation's long-term fiscal imbalance. in 1972, medicare and medicaid totaled only 1.1% of gdp. by 200050, that federal health spending could grow to more than 13% @ g.d.p we can see that medicare represent the fastest-growing portion. it is important to remember that rising health-care costs are a problem in the private sector as well. this is not just a medicare or medicaid related problem. the plan i am presenting today does not reopen the health care reform debate. it builds on health care reform by providing additional health care savings. it provides an option to phase out exclusion for health care. they said this would be one of the most of what the insteps we can take to bend the cost curve on health care spending. it fully assets this. it includes savings proposals including cost sharing, reforming payments to health- care providers, eliminating state gaming of the medicaid tax, and extending the rebate to dual eligible to in medicare. all the budget plan calls for the same social security reforms as the original fiscal commission plan, it does not include in its numbers the savings from those social security proposals. that is because the cong
nation's long-term fiscal imbalance. in 1972, medicare and medicaid totaled only 1.1% of gdp. by 200050, that federal health spending could grow to more than 13% @ g.d.p we can see that medicare represent the fastest-growing portion. it is important to remember that rising health-care costs are a problem in the private sector as well. this is not just a medicare or medicaid related problem. the plan i am presenting today does not reopen the health care reform debate. it builds on health care...