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This accumulated debt at all levels of our society poses an immediate existential threat to America. Now unlike the manufactured crises of global warming and healthcare, this is a true crisis. This crisis threatens the very sovereignty of our country.

I think what's important to understand is if the United States hits the debt ceiling and is unable to pay its debts, the consequences will be immediate and dramatic.

This debt crisis coming to our country. The wall and tidal wave of debt that is befalling our nation. Medicare and Social Security go bankrupt within ten years, we have a debt that is looming so high that in the last year of President Obama's budget just the interest payments on our debt is $916 billion dollars.

The 2008 financial crisis and the Great Recession that followed have had devastating effects on the U.S. economy and millions of American lives. But the U.S. economy will emerge from its trauma stronger and widely restructured.

The American people know that our economy is struggling right now, partly because of the debt that is impacting American families, hardworking taxpayers all across this country.

If we bankrupt America, we will all pay the price.

The problem is that the U.S. government is the biggest debtor in the world, and those depending on it to take care of them will only become poorer.

The truth is we need to build an economy going forward with all of us, when we all move forward and the payment of a national debt is not the responsibility of one group of Americans versus another.

I really truly worry that the debt is one of the single biggest threat to the United States of America, that we're talking about a problem that is multi-trillion in its depth and I think we ought to be cutting more.

What I'm concerned about is endless borrowing, which is going to compromise our economy not only today but in the future. Because we know the decisions we make right now really dramatically impact us in the future, and the debt is literally getting out of our control.