Back to the RadioSpace™ home page
NewsDirect story topics:
Consumer, Business & General Interest
Current Events & Public Affairs
Entertainment & Sports
Health & Medicine
Fully produced report in:
mp3PRO format
QuickTime
(MPEG-4/AAC) format
Windows Media Audio
9.2 format
(112 seconds)
-- How Will You Use This Story? --
(OPEN):
AMERICA'S PUBLIC-DEBT IS NOW OVER 16-TRILLION DOLLARS--AND
SHOWS NO SIGNS OF SLOWING DOWN. THAT'S WHY STATE-SENATOR
STEVE HOBBS IS CO-CHAIRING AND HELPING TO LAUNCH THE
WASHINGTON-CHAPTER OF THE CAMPAIGN TO FIX THE DEBT--A
CAMPAIGN THAT'S DEDICATED TO FINDING BIPARTISAN POLICY-SOLUTIONS TO
BRING THE DEBT UNDER CONTROL...
(HOBBS):
"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 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-CARDS, 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, SENATOR HOBBS BELIEVES THAT THERE'S STILL TIME FOR OUR
NATION'S LEADERS TO ACT...
(HOBBS):
"INACTION IS
NOT AN OPTION: WE NEED TO ENACT A PLAN THAT STABILIZES 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. 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 WOULD 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.
