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(109 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 BILL JOHNSON--THE
PRESIDENT OF JOHNSON TIMBER CORPORATION--IS HELPING
TO LAUNCH THE WISCONSIN-CHAPTER OF THE CAMPAIGN TO FIX THE DEBT--A
CAMPAIGN THAT'S DEDICATED TO FINDING BIPARTISAN POLICY-SOLUTIONS TO
BRING THE DEBT UNDER CONTROL...
(JOHNSON):
"OVER THE LAST
40 YEARS, AMERICA'S PUBLIC-DEBT HAS AVERAGED BELOW 40-PERCENT OF THE
ECONOMY. TODAY, DEBT HAS SURPASSED 70-PERCENT OF OUR NATION'S
ECONOMIC-OUTPUT--AND COULD GROW PAST 200-PERCENT OF THE G-D-P, BEFORE
KIDS WHO ARE BORN TODAY TURN 25, IF WE DO NOTHING. AS A DAD OF
THREE KIDS--INCLUDING MY 16-MONTH-OLD GIRL--THAT'S MORE THAN A STAT TO
ME; IT'S A CALL TO ACTION. I DON'T WANT TO SEE A DIMINISHED FUTURE
FOR MY CHILDREN--OR ANY OF OUR CHILDREN. MORE NATIONAL-DEBT WILL
MEAN HIGHER INTEREST-RATES ON CONSUMERS' CREDIT-CARD DEBT, CAR-LOANS,
AND MORTGAGES. AS A BUSINESS-OWNER, I KNOW [THAT] 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, JOHNSON BELIEVES THAT THERE'S STILL TIME FOR OUR NATION'S
LEADERS TO ACT...
(JOHNSON):
"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. 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. AND, THEY NEED TO
DO IT 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.
