Video archive of the US Congress

Senate Proceeding on Apr 13th, 2011 :: 6:41:15 to 6:42:20
Total video length: 9 hours 11 minutes Stream Tools: Stream Overview | Edit Time

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Bob Corker

6:41:11 to 6:41:32( Edit History Discussion )

Bob Corker: holders of u.s. debt. at present nearly half of the u.s. publicly held debt is held by foreign investors. and as those u.s. deficits are increasingly foreign financed, of course our interest payments are leaving the country. it is estimated that in 2010, interest payments to foreign entities and foreign individuals amounted to over $140 billion.

Bob Corker

6:41:15 to 6:42:20( Edit History Discussion )
Speech By: Bob Corker

Bob Corker

6:41:33 to 6:41:54( Edit History Discussion )

Bob Corker: that's based on the new data from the department of commerce. so it's not just about these high debt payments. it's the fact that a lot of it's going overseas. and persistent deficits and this pending debt crisis of course also introduces a lot of uncertainty into our economy. immediate evidence this have effect -- of this effect appears

Bob Corker

6:41:55 to 6:42:16( Edit History Discussion )

Bob Corker: on the balance sheets of american businesses which shows $1.9 trillion in what's called liquid holdings. what does this mean? money is sitting on the sidelines rather than being invested in jobs, plant and equipment. resolving the uncertainty surrounding future deficits will induce greater investments. we've already seen these

Bob Corker

6:42:17 to 6:42:22( Edit History Discussion )

Bob Corker: concerns manifest themselves in various ways. capital markets are responding.

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