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(126 seconds)
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(OPEN):
AMERICA'S PUBLIC-DEBT IS NOW OVER 16-TRILLION DOLLARS--AND
SHOWS NO SIGNS OF SLOWING DOWN. THAT'S WHY GENE BARR--THE
PRESIDENT AND C-E-O OF THE PENNSYLVANIA CHAMBER OF BUSINESS
AND INDUSTRY--IS HELPING TO LAUNCH THE STATE'S CHAPTER OF THE
CAMPAIGN TO FIX THE DEBT--A CAMPAIGN THAT'S DEDICATED TO
FINDING BIPARTISAN POLICY-SOLUTIONS TO BRING THE DEBT UNDER CONTROL...
(BARR):
"OVER THE PAST
40 YEARS, THE SIZE OF AMERICA'S PUBLIC-DEBT HAS AVERAGED BELOW
40-PERCENT OF THE ECONOMY. BUT, TODAY, DEBT HAS SURPASSED
70-PERCENT OF OUR NATION'S ECONOMIC-OUTPUT--AND, IF WE DO NOTHING, COULD
GROW PAST 200-PERCENT OF 'GROSS DOMESTIC PRODUCT', BEFORE CHILDREN WHO
ARE BORN TODAY REACH THE AGE OF 25. MORE NATIONAL-DEBT WILL MEAN
HIGHER INTEREST-RATES ON CONSUMERS' CREDIT-CARD DEBT, CAR-LOANS, AND
MORTGAGES. AND, IT MEANS AN INCREASED TAX-BURDEN ON OUR CHILDREN
AND GRANDCHILDREN--WHILE THREATENING THEIR SOCIAL-SERVICES AND
RETIREMENT. ALSO, GOVERNMENT-DEBT WILL CROWD-OUT PRODUCTIVE
INVESTMENTS IN EDUCATION OR INFRASTRUCTURE--LEADING TO BOTH SLOWER
ECONOMIC-GROWTH AND LOWER WAGES. EVENTUALLY, OUR NATION COULD FACE
AN ECONOMIC-CRISIS SIMILAR TO WHAT WE'VE SEEN IN ITALY AND GREECE."
(BRIDGE):
HOWEVER, T-J ROONEY--A CO-CHAIR OF THE CHAPTER, AND A FORMER
CHAIR OF THE PENNSYLVANIA DEMOCRATIC PARTY--BELIEVES THAT
THERE'S STILL TIME FOR OUR NATION'S LEADERS TO ACT...
(ROONEY):
"INACTION IS
NOT AN OPTION: WE NEED TO ENACT A PLAN THAT STABILIZES DEBT.
AND, WE NEED TO DO IT SOON. INDEED, SMART AND GRADUAL
DEBT-REDUCTION CAN REVERSE THE NEGATIVE ECONOMIC- AND
GENERATIONAL-CONSEQUENCES OF ELEVATED- AND RISING-DEBT. A CREDIBLE
PLAN WOULD STRENGTHEN THE ECONOMY--BY KEEPING INTEREST-RATES AND
INFLATION LOW, DECREASING UNEMPLOYMENT, AND GETTING RID OF
ECONOMY-DISTORTING TAX-LOOPHOLES. RIGHT NOW, THERE ARE MANY
PROPOSALS TO CHOOSE FROM; POLICYMAKERS NEED TO START FOCUSING ON
SELECTING THE BEST IDEAS--AND IMPLEMENTING THEM--AS SOON AS POSSIBLE.
IF YOU'D LIKE TO SIGN OUR PETITION--OR FIND OUT MORE ABOUT THE CAMPAIGN
TO FIX THE DEBT--CHECK OUT
'FIX-THE-DEBT'-DOT-ORG."
(CLOSE):
THAT WEBSITE, AGAIN, IS "FIX-THE-DEBT"-DOT-ORG.
