let's talk to a businessman and all around financial expert peter schiff. peter, to spare both of us the agitation of a lot of criticism and this and that and this and this and this. the reality is some of our problems, because america uniquely, unlike any other country in the world, owes a lot of money in its own currency. we're not greece in that sense. we're not another country that does not have the dominant default currency of the world. do you buy the argument that if we were to take advantage of that fact and really get onnest about the housing problem, about the unemployment problem about, the china problem that unlike other countries who are really screwed, we don't have to be as badly screwed as somebody like greece, for instance, if we make good decisions. >> no. actually, we're screwed worse. i mean we are more reckless and more irresponsible because we are borrowing against our own currency and that allows us to try to inflate our way out of the problem. we inflate our way into a bigger problem. the statistics that you're running off, the u.s. e

of interest rates we can fix interest rates whatever we want as a group of westport connecticut peter schiff has said all essence will deflate against gold you know we talk about war is them the other issue we're always talking about is the warfare state of america and this headline is very shocking veterans agency made secret deal with prudential this is the line this is the what this is like makes me think as an american myself i feel so embarrassed and so ashamed the u.s. department of veterans affairs failed to inform six million soldiers and their families of an agreement and maybelline prudential financial incorporated to withhold lump sum payments of life insurance benefits for survivors of fall in service members apparently this is a verbal deal struck in one thousand nine hundred nine under the clinton administration that they would actually not have to pay the lump sum that the survivors the beneficiaries of these policies would want a lump sum and they want to keep the cash you know invested as they want but apparently prudential has been sending them a check book that they could

joining him is peter schiff, also the author of the book "how an economy grows and why it crashes."t, starting off with you in this report, you say a premature focus on deficit reduction could slow growth and increase unemployment. why saw this? -- why is that? >> well, we start constriction now, we'll put more people off the bork -- out of work, and that will slow growth. we already have faltering growth. we're in a real trough here, we're in trouble, and we need to take steps to get the economy going. consumers aren't going to do that, they're tightening their belts. businesses respect going to do it as long as there aren't consumers, and we're not going to do it with exports, so we're going to have to do it by having government take action. jenna: we certainly have seen the american public change some of their habits through this crisis. they've paid down some debt, they've taken less credit, they're saving more money. so why should the government act different than just a typical american family that's trying to get through this crisis? >> because as consumers constrict what the