Dealing With the Crisis

The government is collecting $4.5 trillion in taxes and it's spending something like $6 trillion, according to the national debt clock. If you look at the total tax revenues for the United States, let me see where those are, it's $4.6 trillion. But again, that excludes a lot of off-budget stuff. That really was the nature of the crisis. It wasn't a crisis for the people. Congress had to raise the debt ceiling to eliminate that crisis so it can go back to business as usual," he says.