discuss america's out of control debt situation i'm joined by martin henoch in hong kong he's an associate director at a tight 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 a deputy editor at 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 i'm going for broke wanting stuff get asked of me and less the fourteen point three trillion dollar debt ceiling is lifted by i need me on the line the course of the u.s. is on a president obama so how do original money lives public debt at more than fourteen point two million dollars and rising by four wheeler dollars thirty hands and massive iou that's generation forty three cents of every dollar we spent 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