mr. fishman. as a chairman of travelers, i guess you're deep in the bond market every day. i know this is an imprecise science, but how much time, and everybody has been waiting for this. how much time are the bond markets going to give our federal government for addressing this? >> i suspect less than most people think. you ask the question what are the couple of numbers that get people's attention. put out a couple. total federal revenues last year from all source, $2.3 trillion. total spending $3.6 trillion. so we spent 1.3 to 2.3 more. in 2020, social security, medicaid and medicare simply based on demographics will be a trillion dollars a year more than it is now. it's going to grow from about $1.6 trillion last year. these are round numbers. you round trillions. you spend a lot of time doing comas and points. in $20202.7 trillion. i suspect the time we have to deal with this is shorter than most people would observe. the principle beneficiary by the way, or certainly a principle beneficiary has been the u.s. government. another amazing statistic. $15 trillion of debt.

mr. fishman, i wonder if you can address one of the things we know as difficult as the debt and deficit problems are and you hear it across, around the world, if we fail to make investments we need to make in education, if we fail to make sure that our infrastructure is world class, is on par with china, on a par with the rest of the world we're not going to be able to have the kind of growth we need in the future and that in the end, growth will also be the biggest driver of reducing our deficit. can you sell that idea across the business community? >> business people usually pretty good talking about priority, making choices. we live in a world of limited resources and infinite demands so most of these people get the notion of you can't do everything and you have to pick your spot. i don't think that debate, i don't think we had a rich discussion of priorities and choices. we've been trying these last ten years to do everything simultaneously. and you're right, it's all important. everything is important. i loved your numbers on the defense department, thank you, i'm going to use that one. but

mr. fishman who runs travelers. his earnings versus prudential's, shocking. >> just paid both my bills, homeowners and car from travelers. moved from geico. >> 15 minutes would have saved you. >> apparently not. >> what did you take a half hour? >> they don't tell you as they move your rate up and you go why am i paying $2,000 for car insurance when travelers will give it to you for $1,000? >> are you a risky driver? >> not at all. i'm in that sweet spot. no accidents, perfect age, no kids driving the car. they should pay me. >> we've got to take a break. facebook's pitch to investors, the social networking giant looking to start things off with a bang in its ipo road show. >>> another look at futures as we set up this monday morning in wall street. s&p 500 losing about six points at the open. >>> facebook kicks off its road show this morning. more on what we can expect from facebook. kayla. >> i'm outside the sheraton where that pitch will take place midday. facebook management making a case for investors and field