we'd be greece i mean we are broke bankrupt really bankrupt and now is former treasury secretary james baker how do you reflect upon those words. well bill gross of us was saying that the u.s. is actually out of creaking we greeks because if you add all of the unfunded liabilities to the national debt figure i mean the national debt figure. here isn't really what this is really about but really the unfunded liabilities are the so-called fiscal devil that's two hundred and two trillion us dollar so in many ways that's worse than greece the budget deficit is very small as the same as crazy of ten point eight percent budget deficit and the eurozone was formed or not that's a eurozone is any better i mean they're just blowing up right now to all we have to be seeing again pressure on greek and pigs government bonds and even in germany and france increasingly looking shaky on the government there as well but just as a reference on the eurozone was for and there was a limit of three percent a budget deficit as a percentage of g.d.p. that is normally considered as a maximum sustainable so the u.s.

the problem and making it much worse with huge tax cuts like we did in the early eighty's when james baker was working for ronald reagan or as we did in the bush administration versus times when all of a sudden we're concerned about it i'm happy that we're i mean if we're concerned about it fine let's take advantage of that political crisis to solve the problem but if you look at. the willingness of foreigners to hold u.s. treasury securities there isn't the slightest sign that they are that they're getting tired of it so to use the phrase. that crisis is to my mind absurd five years ago i don't feel it is better to read it as they have been crying a lot of that yet because nobody has buying it. ok i was just following this to look at sawyer why lots of other china is buying it and we know i mean it isn't just the u.s. federal reserve lots of other central banks like china are buying now you might say at some point they're going to stop and i'm worried about that too but at the moment they're not slowing down their purchases foreign central banks ok joe where you where do you gentlemen and

course, hillary clinton, condoleezza rice, colin powell, madeleine albright, lawrence eagleburger, james bakerge schultz, and henry kissinger. these conversations are being recorded at the state department where room by room you can see america's history and the object of history, and, also, a wonderful collection of american paintings and decorative art. the rooms are named for former secretaries of state, the john quincy adams room is home to the desk at which the treaty of paris was signed ending the american revolutionary war. these rooms have witnessed historic meetings between american officials and foreign ministers and heads of state. we take note of the 50th an vaerls of these rooms and the patrons of diplomacy initiatives. we begin our conversations on diplomacy with secretary of state and former secretary of state kissing her. secretary clinton came to this office after serving as first lady of arkansas and the united states. she was appointed by president obama after a spirited contest for nomination for president. henry kissinger was a harvard professor, national security advisor

we had james baker and richard gephardt before the joint committee on taxation. they both said you have a better chance of getting the fundamental tax reform you want if it is revenue-neutral. >> would a tax increase the call for? >> no. >> the president took some hard swipes at paul ryan's plans. you are taking swipes at him wanting to raise taxes. we talk to alan simpson briefly after the speech and he said to pray for the gang of six. [laughter] i know you had a lot of issues with balsam cent. that was the senator simpson statement. is he right? >> i pray for many of my colleagues. [laughter] -- the deficit is the symptom and spending is the disease. the president talked about shared sacrifice. the problem is on the spending side. we know that in the postwar era, revenues have averaged 18.5% of gdp. they have been temporarily down through the recession which has been exacerbated by the president's policies. in all the models, revenue comes back and marginally increases beyond that point. spending goes from its historic 20% of gdp to 40% over the next generatio

but james baker and richard gephardt, before the joint committee on taxation, they both said you have a much better chance of getting the fundamental tax reform if it is revenue-neutral. >> the president took some hard swipes at the rye and plan i've talked with senator simpson after the speech. his statement was "pray for the gang of six." [laughter] i know you had a lot of issues, but that was senator simpson's statement. is he right? is the only solution here is to pray for the gang of six? >> i pray for many of my colleagues. [laughter] here is my point. again, the deficit is the symptom. spending is the disease. the president talks about shared sacrifice. the problem is on the spending side. we know that in a post-war. , revenue averaged 18.5% of gdp. they have recently been done because of the recession. we believe it is exasperated because of the president's policy. revenue comes back and largely increases beyond that point. it is spending that goes from its historic 20% of gdp to 40% over the next generation. you have to double taxes on the next generation, crush the economy,

james, baker spring and others here and i commend your attention on the defense budget i had time to read which were both timely and insightful so thank you for allowing me to be here today. the main thing i want to do with you today is share with you some of the things we are doing managerial elite to provide the military capability of the needs for the defense budget that they can afford. and that is it in one sentence. and let me begin the story with fiscal year 11 and just remind you of where we've been in the recent weeks. we avoided a government shut down, though just barely, and while there was a good thing, you may not have had the opportunity to appreciate how damaging was the impact and always is the impact of the continuing resolution on the managers in the department. i've called it not just in efficiency but and high efficiency. each and every program manager in the department has upset carefully calibrated plans, stop or slow activities and i will need to restart them leader, before the commencement of important new programs and so forth, and the result of this is not o

we had james baker and richard again heart -- again hard -- who said you both have the chance of getting it if it is revenue neutral. >> so what he is calling for would be a tax increase? >> no. >> the president took some pretty hard swipes at chairman ryan's plan. you all are taking swipes at the fact that he wants to raise taxes. i talked to allen simpson son after the speech, and his statement was a pray for the gang of six. i know you had a lot of issues with bull simpson, but that was his statement. is he right, that the only solution here is to pray for the gang of six? >> i pray for many of my colleagues. [laughter] here is my point. the deficit is the symptom, spending is the disease. the president talked about shared sacrifice. the problem is on the spending side. in post war era, revenues -- spending has been 18% of g.d.p. but in all the models, revenues comes back with norge natural increases. it is spending that goes from its historic respect of g.d.p. to 40%. you would have to raise taxes, crush the economy and jobs and lose the american dream. if you define that as your chi

two former secretaries of state, james baker and warren christopher, have spoken jointly to the, quote, importance of meaningful consultation between the president and congress before the nation is committed to r, unquote. our nation has an inherent right to defend itself and a solemn obligation to defend the constitution from the golf and vietnam to the -- gulf and vietnam to the allegations of weapons of mass destruction in iraq, we've learned from bitter experience that the determination to go to war must be based on verifiable facts carefully considered. finally, civilian deaths are always to be regretted but we must understand from our own civil war, more than 150 years ago, that nations must resolve their own conflicts and shape their own destiny intnally. however horrible these internal conflicts may be, these local conflicts can become even more dreadful if armed intervention in a civil war results in the internationalization of that conflict. the belief that war is inevitable makes war a self-fulfilling prophecy. the unit states in this new and complex world racked with great

defense secretary rumsfeld came to support the iraq study group, ablely led by bipartisan chairs, james baker, lee hamilton. it has been my hope that the obama administration would come to view this bipartisan fresh eyes approach, which is all good for men and women in uniform and good for the country as well. aside from the specific policy recommendations, the iraq study group helped force a moment of truth in our national conversation about the war effort. it was apparent last summer and still true today that with roughly 100,000 troops in afghanistan, no clear end is in sight to our nation's longest running war at 10 years and counting. a public support for the war is at an all-time low. a national conversation about afghanistan is what is urgently needed. before proposing this idea to the obama administration, i spoke with a a number of knowledgeable individuals, including former senior diplomats, public policy experts and retired and active duty military. many believe, all believe our afghanistan policy was adrift and there was near unanimous position that an afghanistan-pakistan study g

in particular in addition to mackenzie, thank doctor james gargano of baker spring, and others here. i commend your attention to their heritage policy briefs on the budget. so thank you for the opportunity to be here with you today. the main thing i want to do with you today is to share with you some of the things we are doing managerial and to provide the nation, the military capability it needs for the defense budget they can afford. that's it in one sentence. and let me begin the story with fiscal year 11 budget, just remind you of where we have been in recent weeks. we avoided a government shutdown of just barely. and while that was a good thing, you may not have had the opportunity to appreciate how damaging was the impact, always the impact of a continuing resolution, on the managers in the department. i've called it not just inefficiency that anti-efficiency. each and every program manager in the department has had to upset, carefully calibrated plans, stop or slow activities only to restart them later. before the commencement of important new programs and so forth. and result

james carafano, dr. baker spring and others. thank you for allowing me to be here with you today. the main thing i want to do with you here today is to share some of the things that we are doing manager really to provide the nation the military capability it needs for the defense budget can afford. that is it in one sentence. let me begin the story with fiscal year 2011 budget. and i will remind you of where we have been in recent weeks. we avoided a government shutdown, though just barely. and while that was a good thing, you may not have had the opportunity to appreciate how damaging was the impact, and always is the impact of a continuing resolution on the managers in the department. i have call did not just in efficiency, but anti-efficiency. each program manager in the department has had to upset carefully plotted plants or stop activities only to start them again later, a demographer at the commencement of new programs and so forth. the result is not only delay, but inefficiency and is an inefficient way to proceed -- and an economical way to proceed. i do not know how much

baker eddy library also has a special kjv display. there, visitors can hand-copy verses from the king james bible in the same way monks and scholars copiedture before the invention of the printing press. still, many modern christians say they find the kjv frustrating for personal use. the sometimes arcane words can be difficult to understand, and many trip over all the thees and thous. jon sweeney believes this is unfortunate. >> contemporary translations are good, they're great, they make the bible relevant, but at the same time i think it makes it kind of ordinary. so reading the bible is kind of like reading a popular novel. >> reporter: sweeney says the kjv can bring a sense of wonder and majesty that is spiritually meaningful if people take the time to experience it. >> it's interesting to read a bible and have thees and thous, different ways that might actually change how you think about the god that you're praying to, about the god that you're reading about, about the activity of that god, because you're using language that feels more reverential. i find that it puts my heart in the right place. >> reporter: and, 400 years later,