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(133 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 TIM PAGLIARA
[AS IN "BAG"/"PAID" AND "AIR"]--THE FOUNDER OF "ENACT
THE PLAN"--IS CO-CHAIRING AND HELPING TO LAUNCH THE
TENNESSEE-CHAPTER OF THE CAMPAIGN TO FIX THE DEBT--A
CAMPAIGN THAT'S DEDICATED TO FINDING BIPARTISAN POLICY-SOLUTIONS TO
BRING THE DEBT UNDER CONTROL...
(PAGLIARA):
"OVER THE PAST
40 YEARS, THE SIZE OF AMERICA'S PUBLIC-DEBT HAS AVERAGED BELOW
40-PERCENT OF THE ECONOMY. BUT, TODAY, TOTAL-DEBT HAS SURPASSED
100-PERCENT OF OUR NATION'S ECONOMIC-OUTPUT--AND COULD GROW PAST
200-PERCENT OF G-D-P, BEFORE KIDS WHO ARE BORN TODAY TURN 25, IF WE DO
NOTHING. 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, PAGLIARA BELIEVES THAT THERE'S STILL TIME FOR OUR NATION'S
LEADERS TO ACT...
(PAGLIARA):
"INACTION IS
NOT AN OPTION: WE NEED TO ENACT A PLAN THAT STABILIZES THE DEBT,
AS A SHARE OF THE ECONOMY. 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. THERE ARE MANY PROPOSALS TO
CHOOSE FROM. AND, POLICYMAKERS NEED TO START FOCUSING ON SELECTING
THE BEST IDEAS--AND PUTTING THEM TO WORK--AS SOON AS POSSIBLE. IF
YOU WOULD LIKE TO JOIN THE CAUSE AND SIGN OUR PETITION--OR [TO] 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.
