My responsibility is to keep the company solvent.

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.

They're giving it to me for safekeeping.

He was declared insolvent.

What are my liabilities?

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

Our debt is more than we can pay.

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.

It's backed by people's trust in the ability of the U.S. economy to support debt to pay off the value of this currency.

You're still solvent.

They serviced the loans.

This is liabilities.

We see the Occupy protests, we see spiraling debt crises, we see growing inequality, we see money's influence on politics, we see resource constraint, food and oil prices.

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...

I will do my duty to the best of my ability.

You can rely on his proven ability.

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?