President Obama says bipartisan lawmakers on the new Joint “Super Committee” must compromise and put the nation’s interests before their own to improve America’s credit rating (00:57)
President Obama, compromise, debt in Audio At a White House Press Conference, President Barack Obama states that we are running out of time, and he has given lawmakers limited time to come up with a plan for raising the debt ceiling as well as for deficit and debt reduction. (0:29)
Sen. Ron Johnson (R-Wisc.) says he fears the U.S. will become like Greece without serious fiscal decisions. (0:40)
Chief Actuary for Social Security Stephen Goss supported social security reform as soon as possible in order to enact gradual reforms. (0:18)
budget, chief actuary, debt, social security in Audio President Obama speaks to reporters in the Rose Garden about the upcoming meeting with Congress over the weekend, to find a serious plan to deal with the American debt and deficit. He says that the government needs to live within its means, while still making investments to help put people to work. (:55)
White House Press Secretary Jay Carney says that President Obama feels that we need to act in a big way to help the economy. The President doesn’t feel it is wise to pursue a short-term solution without solving the problem, and he wants to instead deal with it now instead of kicking the can down the road. (1:16)
Office of Management and Budget Director Jack Lew outlines the 2012 budget and calls it a responsible plan. It cuts spending and deficit, reaching a sustainable deficit by the middle of the decade where the government will no longer be adding to our debt. (:39)
The Republican Party is dedicated to cutting spending and the debt while creating private sector jobs, according to newly re-elected Senate Minority Leader Mitch McConnell (R-Ky.). (0:45)
Mitch McConnell, debt, job creation, spending in Audio Greece, Paul Ryan, Roadmap 2.0, debt, tax system in Audio credit card, credit debt, debt, economy, levin in Audio 
Credit card debt is like drug addiction?
At a House Judiciary Subcommittee hearing on “Consumer Debt: Are Credit Cards Bankrupting Americans?” Adam Levitin from Georgetown University Law Center said, “It is like drug use in this sense. There is definitely an addictive quality to credit...there is definitely are parallels between the way consumers use credit and what we see with addictive products.”
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