David Malpass, Encima Global president, tells CNBC's Rick Santelli it will "take years to sort out how to restrain a government that has grown too big."
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As the debate over raising the debt ceiling in the United States lurches onward, one analyst tells CNBC that if America wants to keep taxing its people like it's the 1950’s, it will need to significantly cut back on spending.
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The Bipartisan Policy Center has put together compelling analysis in support of raising the debt ceiling before the rapidly approaching Aug. 2 deadline, with Douglas Holtz-Eakin, American Action Forum president.
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Republican presidential candidate Ron Paul is worried about the falling value of the U.S. dollar and doesn't want the debt ceiling raised, he told CNBC Wednesday. He would rather see the U.S. sell off its gold reserves and cut military spending drastically.
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