Over the next few years big decisions will be made in Washington on jobs, the economy, taxes and deficits, energy, education, war and peace.

Because the government now owns 90 something percent of the company.

My responsibility is to keep the company solvent.

They're giving it to me for safekeeping.

What are my liabilities?

Our economy grew from 2000 to 2007 on the back of consumers massively overborrowing.

But this I just want to show you some data here.

And it got bailed out by the sovereign wealth fund.

Our borrowing costs were skyrocketing, and we were facing possible default.

It makes sense to pay off your credit card balance every month.

You're still solvent.

They serviced the loans.

This is liabilities.

Helps bring it down.

But I don't believe that another round of tax breaks for millionaires will bring good jobs to our shores or pay down our deficit.

I can pay off my bank loan!

The personal debt to income ratio basically went from 65 percent to 135 percent in the span of about 15 years.

So that's bankruptcy.

You go get bankruptcy protection.

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Now's the time to keep our focus on the most urgent challenge of our time putting people back to work, paying down our debt, and building an economy where people can have confidence that if they work hard they can get ahead.

I give that money to someone else.

We would create incentives for securitization.

It can do it through debt or equity.

I have 4 billion in residential CDOs, collateralized debt obligations.

Payable to the City of San Francisco.

The Civil War. Even more expensive.

What is your strategy in your household?

You have 189,000 as the value of this equity.

Have a surplus? Take two tax cuts, roll back some regulations and call us in the morning.

Now let's say it gets even worse.

It's exciting, but we went over our finances and...

It allows let's say this group of borrowers let's say this pool of borrowers right here actually didn't

External debt something that I can tell you a long story about because I personally worked on one of the biggest debts on the continent has come down dramatically.

This guy, he does have interest.

You can sell shares.

Well everyone knows that it's not going to be exactly 10 .

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Why is it a liability?

I can no longer fulfill my obligations.

So I really do have a positive equity of 11,000.

So we still have the same amount of debt.

So, each of these is an investor.

(Audience cheers) And while my opponent would spend more money on military hardware that our Joint Chiefs don't even want, I would use the money that we're no longer spending on war to pay down our debt and put more people back to work rebuilding roads and bridges, and schools and runways because after two wars that have cost us thousands of lives and over a trillion dollars, it's time to do some nation building right here at home.

That man borrows money from many lenders.