in 2050, we expect that to increase to 12.4% of g.d.p. 12.4% of g.d.p. so if we're looking for where the spending is really increasing, it's certainly not in the domestic accounts. that's going down as a share of g.d.p. social security, we have seen an increase because of increased people eligible because of the baby-boom generation. but the big place that we have seen an explosion is in the health care accounts. that's not because of the law that was passed, what some people call obamacare. that had nothing to do with this. this is long-term trends because of the increase in the cost of medicine and because of the baby-boom generation. that's where we really see a large increase in federal spending. madam president, it's also interesting that we're seeing medicare enrollment soaring. back in 1970, there were 20 million people eligible for medicare. in 2085, it is going to be 115 million. so a key reason we're seeing increases in costs in the so-called mandatory programs is a dramatic increase in the people, the number of people who are eligible. that's n

it which would be a catastrophe of the state most likely it's not the debt that is good for the g.d.p. of the state it is too low and it should go on trying to form part of the e.u. which means much more than simply belonging to a union a well organized judicial system of human rights freedom of expression of the struggle against organized crime bribery and corruption of the local minority rights all these are achievements of of the you also be an end to the e.u. i don't know. first of all they have a crisis of exposure with it today it's clear that we were being naive during the next ten years at the same time they have the existential crisis the euro is a currency that's turning weaker by the day on the other hand it's a big question how long is germany going to help mentor you that's to say how long should german taxpayer support the countries in crisis i promise to guide serbia to a path where no one could say that we don't want to enter these new my truth is that the world is a lot bigger my victory is a victory of the ideology of both the e.u. and russia and not the e.u. or right or

in taxes and we're spending around twenty one percent of g.d.p. thus the deficit paul ryan says that his budget is going to close that budget gap so i don't know where he's down spending not by increasing taxes though it is suits eighteen nineteen percent of g.d.p. revenue intake and i also might add that by assuming the current baseline which assumes that the top income tax brackets will go up to forty percent and the capital gains tax will go up to twenty three percent that's not currently the way it is so these we have now require the amount that comes back it's are reduced and the amount that the capital gains taxes are reduced under the ryan plan has been vastly overestimated by the study i think we just you know walk a far this to the point everybody's are god's laws. but the bottom line if if working people are paying more taxes i mean grover norquist was not opposed to the biggest tax cut for working people in the history of the united states obama's tax cut but the repeal point is this study is is fatally flawed it's not odd but what micha

deflation is ravaging the globe because dead rats are not sufficient collateral to hold up the entire g.d.p. of the world let's turn to some other of the least dangerous interrogator's financial interrogators in the world so jamie diamond appeared before the house financial services committee and the headline before he appeared diamond faces harsher and crazier house crowd in second round the house hearing will take more time but won't be nearly as controlled as diamond faces more than sixty lawmakers most of whom are up for reelection in november and motivated to capture local headlines so i can take jamie down jamie dimon down in two senses basically just say show us the collateral on your books that supports your multi-trillion dollar balance sheet and of course will be incapable of producing the collateral because it's all been hypothecated or re hypothecated there is no tier one capital at j.p. morgan there is no there there there is no foundation there is no supply and demand there is flow there is a fraud flow flow of fraud which they value that one hundred forty billion or so. dollars i

g.d.p. is one fifth of the g.d.p. increase of china so economically no it doesn't matter politically if greece exits he puts on stoppable pressure of a number of countries who are trying to reform to do the same thing this is deal then there's your layman moment there's your lehman moment and they wanted to argue next race that greece is a small percentage of the g.d.p. it's. meaningful the same thing could have been said about lehman brothers as a relatively small bank but the interim reign relationships with the wall street the rest of the world brought down the global economy same things grace have incredible outside lands with these banks and france and germany and these banks are going to go and those loans are going to go bust and that's that's that's the lynchpin moment that is you know i mean i lived in poland for a long time and poles very close country to my heart here i mean i was there during the communist period and let's face it the soviet union wasn't their favorite country ok but you know a free democra

it's 3.35% of our g.d.p. i think we need to be aware. onomic effect of that inevitablely slows employment and causes diversion of resources that would be beneficial to economy. it's not clear that it actually makes america safer. >> john: ambassador bolton that is big question. how much safer does this make us? >> i think you have to look at the divergent threats the united states faces around the world, continuing threat of terrorism the real threat of the proliferation of weapons of mass destruction, nuclear chemical and biological. increasingly assertiveness of china. >> john: those are real threats but i think back to the past when russia had all those missiles aimed at us, we spend more than at the height of the cold war or during the reagan build-up or vietnam war or korean war? >> if you add in the current cost of the conflict in afghanistan but percentage of g.d.p. has consistently been going down since dates of cold war. in fact even the obama administration secretary of defense has said if the cuts required by sequestration take

public sector and sweden is fifty nine percent of g.d.p. the public sector and average in the european union is around fifty four percent of g.d.p. here in the united states is twenty two percent of g.d.p. and you know can you give me an example of rising public because if you look at europe after world war two it is the public sector gruesome public private sector and same here since since one thousand nine hundred. historically i have seen there's an interesting economic study that says that as you reduce the number not just of government employees but actual regulators if you reduce that number you get a tremendously large growth and in jobs so that if you were to get rid of say a thousand government regulators you'd get ten or twenty thousand other jobs why would that be if for example the koch brothers have a factor and it's blowing stuff out the smokestack in the regulators come along and say ok you can blow that poison out into the air anymore they're going to have to hire somebody some is going to design a scrub or somebody's going t

you know about ten percent that's not europe of course g.d.p. of well i think it's seventeen trillion dollars last year eight hundred billion dollars last year that is roughly forty percent of the global economy if europe goes bankrupt we're going to have a serious serious problem worldwide and the atlantic is not going to be any kind of good solution to the united states yet it is going to be severely affected but i european clubs and this is what we are about to experience because these countries that have paid their currency to the euro and not pay they have depleted their foreign current there or their hard currency reserves they are broke and we are seeing it of course you were mentioning that the spanish banks tomorrow want to are supposed to get a bailout maybe from the e.c.b. you remember it doesn't matter if it happens tomorrow or next week it's going to happen because all these countries are bankrupt right out because they're bankrupt . they will simply by no other solution except exit is currency an exit in this thing and dollar at i wan

we are talking about a 20% of g.d.p. compare that with 80 to 90% of g.d.p. we see these days in the developed world. >> reporter: chile's government debt is even lower: only about 10% of g.d.p., and it has the highest credit rating in latin america. >> this is really a country with a very long track record of macroeconomic stability. its policy framework is very strong. >> reporter: but if the crisis in europe escalates, the eurasia group believes mexico will be one of the better emerging market bets. >> we have a new president coming on board that is going to assume office in december. and we think that the reforms that are going to be well-viewed by investors are going to be directly proportional to the size and severity of the global econom slowdown. >> reporter: there's almost no disagreement on which latin american countries are most vulnerable to ripple effects from europe. >> we would caution to at least look at the countries that are more heavily dependent on commodity prices from their growth perspective. so countries like venezuela, argentina. >> re