America is headed for trouble if it doesn’t kick its spending habit, says Tennessee Democratic Rep. John Tanner, a guest on this week’s “America’s Business with Mike Hambrick” radio program. The federal debt is a massive $9 trillion dollars.
All that money spent paying interest on this debt could go to fixing roads and bridges and investing in human capital such as education and healthcare, says Tanner, co-founder of the fiscally conservative Blue Dog Democrats.
“There is no country that I know of in recorded civilization that had an unhealthy, uneducated population that was strong and free,” Tanner says.
President Bush is pressing Congress to approve an agreement to open Colombia’s markets to American goods and services. Politico reporter Victoria McGrane will talk to Mike about the odds Congress will back the deal.
The Senate may also take up a climate change bill that critics say wouldn’t stop global warming and would wreck the economy. William O’Keefe from the George C. Marshall Institute will talk more about the bill’s down side.
National Association of Realtors economist Lawrence Yun will tell us whether the stagnant housing market will turn around soon. And Loews Corp. President and Chief Executive James Tisch will tell Mike why a lower corporate capital gains tax rate would benefit business.
In our regular segments, Renee Giachino of American Justice Partnership gives us the latest on tort reform and commentator Hank Cox recalls the “The Way It Was.” And the National Association of Manufacturers President Gov. John Engler will close the program with “The Last Word.”
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