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(Studio: Katie Couric) Graph of the federal budget deficit since 1960 shown. The federal deficit and debt examined; scenes shown of the Treasury Auction Room; statistics on the government’s revenue and expenses and debt holders cited. [CBS business correspondent Anthony MASON – says the Treasury is selling IOUs to pay off money we are borrowing.] [In 1983, President Ronald REAGAN; in 1992, President George BUSH; in 1995, President Bill CLINTON; in 2007, President George BUSH; President OBAMA – talk about the deficit.] [CBS Washington correspondent Bob SCHIEFFER- recounts Senator Russell Long’s view on taxes.] [CBS Congressional correspondent Nancy CORDES- notes Congressmembers are reluctant to make cuts because their political futures are on the line.] [CBS Beijing correspondent Celia HATTON- comments on the US debt to China.] [CBS business correspondent Rebecca JARVIS– says every day we assume more debt makes us less likely to pay out that debt.] [Kuwaiti Investment Authority Baader al SA'AD- says somebody has to fund this deficit.] [Moneywatch.com Jill SCHLESINGER- states Wall Street investors are concerned that there is no plan to address the deficit.]
- Couric, Katie
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