susan tanaka is vice president of research for the peterson foundation. she's joining us live from new york tonight. thanks for being with us. >> thank you, happy to be here. >> as we look at your study which by the way is available online, you indicate some sobering information, something that many americans already know but based on where we are today as a country, we're on "an unsustainable and an uncertain path." explain. >> well, in just a few words, it means that we're spending far pore than we have coming in in the form of revenue at the federal level. anybody knows if you have a gap between income and expenses you're going to end up in debt and that means trouble. >> part of the debate is also focused on debt as a ratio of the gdp. we have heard from the obama administration that at least that number is on its way down into that number would be on its way down if the policymakers decided not to do a lot of things that they like to do. for example, if they decided not to extend all the tax cuts tax that were first enacted in 2001-2003 and extended

acknowledge that unemployment is down but there when you say locking those savings, the peter g peterson foundation which is non-partisan flat apply said when you look at your own budget even under optimistic supgss it shows debt rising rapidly after 2022 and reaching levelings that would put the economy at risk. the first part of the answer seems to be working but the second part how are you locking in savings -- >> we are locking in savings over ten years t doesn't mean that every problem is solved. >> it is going to be $25 trillion in debt in -- >> i am sorry, has someone else offered a $25 trillion debt reduction plan? i think i would be interested to see it. the fact is the president has put forward a deficit and debt reduction plan that would save more than $4 trillion over ten years. that is significant savings. it builds on some of the decisions that have been made working with congress last summer through the debt ceiling negotiations that led to the passage of the budget control act that locked in a trillion dollars in discretionary cuts and locked in an additional $1.2 frill i don't know

peterson foundation to end social security and medicare as we know that he's even further to the right than mitt romney when it comes to economic issues he'd be a corporate third party candidate not a rational middle of the road cutting guy which brings us to the second piece of this third party puzzle the shadowy organization known as americans elect basically it's an online organization that's going to nominate and run a third party candidate for president this election how it works is you go online to become a member and then later this spring the site will hold an on line election in which members will pick the third party that americans elect puts forward as their candidate americans elect already has a spot on the ballot in fourteen states including california and with some twenty two million dollars raised already a likely be a all fifty state ballots by the time of the election so whoever is picked by american electorate hold a lot of sway in the upcoming election and here's the best part the american like committee. will have the final say in who gets to be the candidate regar

the second part is wrong, according to the peterson foundation that said the president's own number showt rising until after 2022 and reaching levels to put the economy at risk. new white house chief of staff jack lew made clear the long-term is taking a backseat. >> if we were to put in austerity measures right now it would take the economy in the wrong way. >> leading republicans to charge an election year hoax. >> charade. a charade. >> the only question is when the president own refusal to lead will catch up to the rest of us. >> fox news learned on page 1321 of the budget the president is playing hard ball with speaker john boehner taking aim at the d.c. opportunity scholarship, pet project of boehner to give inner city kids vouchers for private school. now we learn the president wants to zero out funding. >> bret: much more with the panel. ed henry on the north laup. thanks. get thoughts on the budget from brim hume who joins us tonight from boca grand, florida. good evening. your thoughts? >> i would say this. the president claim of deficit reduction rists on assumptions, one $1.6

peterson foundation looked at the president's budget and said even if you go through the most on optimistice debt is going to keep soaring beyond the year 20e 22 the white house is not looking that far down the road. they are looking at november. shep. >> shepard: ed henry at the white house. thank you. the united states supreme court coming face to face with a machete wielding robber. the break-in that gave justice steven breyer and his wife the scare of their lives. greece's last ditch effort to stop a global economic disaster. tonight, the fiery backlash is sparking a disaster of its own. what all of this could mean for our 401(k)s here in the u.s. from the journalists of fox news, on this monday fox report. ugh, my sinus congestion, and it's your fault. instead of blaming me, try advil congestion relief. often the real problem is swelling, not mucus. advil congestion relief reduces swelling due to nasal inflammation. so i can breathe. advil congestion relief. the new spark card from capital one. spark miles gives me the most rewards of any small business credit card. the spark card earn

peterson foundation, which is a strong advocate for reducing government debt. he says that 85% of the health care bills are paid by the government or private insurers, not by patients themselves. in fact, most patients don't even look at the bills. does that make any sense? most things you buy, the customer has some impact. >> we have a system where everybody wants as much as they can get, and they don't understand the true cost of what they're getting. the one thing that could bankrupt america is out-of-control health care costs, and if we don't get them under control, that's where we're headed. >> as we'll see when 60 minutes on cnbc returns, patients with their family's support often find it easier to hope for medical miracles than to discuss how they want to die. [ female announcer ] investing for yourself is a necessity. i find investments with e-trade's top 5 lists and use pre-defined screeners to work smarter. not harder. i depend on myself to take charge of my financial future. [ bell dinging ] >> as steve kroft reported in november of 2009, end-of-life

in the case of austerity, you have a billion air like pete peterson setting up foundations and having people write op-eds and all the rest. so what we see as a result of the decline of this sort of civic minded journalism that i think with profound exceptions, henry luce represented i think nobly is something in which the interests have taken over from the public interest. >> michael. >> i guess i'd like on just stay a few words of dissent again. from the idea a little disagreement i guess with alan, also with rick, about the idea that was ever anything lacking in the golden age of journalism, ever a time when there was really an opportunity for a much more balanced reporting and jackson mentioned the muck rakers, too. i think to my mind, golden age journalism is when the press was as popular as it ever was probably which is roughly from the 1880s to the 1920s, i think, in the sense that i think reader ship event with up by a factor of ten times or 15 times.reader factor of ten times or 15 times. three or four dailies in every major or minor city. what's important about that period, t