Mark Levin: Economy "Cannot Be Fixed Until There's An Ultimate Collapse"

MARK LEVIN: They've got this massive debt reduction bill that cuts $23 billion over ten years and no future Congress will change its mind. Ever, never. He promises this. This would be the same Johnny Boehner who just two years ago -- really almost two and a half years ago -- signed off on the debt ceiling deal. Remember that one that had the sequestered cuts in it? And they're not going to back off of that, until they back off of it.

No, ladies and gentlemen I will repeat what I told Paul Ryan yesterday. And you've heard it all day long by other hosts, I'm sure. We have over $90 trillion unfunded liability. You know where they come up with that number? From me, it's in the Liberty Amendments because I calculated it. And ladies and gentlemen, soon it's $100 trillion.

You know what that means? That means our kids and their kids and every future generation is going to be destroyed because there's not enough currency on the face of the earth to address that. Then we have what's called the fiscal operating debt and I distinguish that from the unfunded liabilities, the entitlements.

The fiscal operating debt -- built up from one budget after another -- not even counting Social Security, Medicare and Medicaid, is almost $17.3 trillion. When my book came out in August, it was $17 trillion. $17.3 trillion. And as a nation, we're focused on $23 billion over ten years, which is never going to happen. And the media running around talking about, 'Wow, Washington actually works.' And the Republicans saying, 'Anything but a government shutdown.'

Do they not understand that the whole damn thing is going to shut down and collapse. And it won't just be 17% of the federal government. It'll be your savings, it'll be your mutual funds, it'll be your pensions, it'll be the value of your paycheck, it'll be your college fund. It will be everything. Because once the spiral occurs, there is no undoing it because man a situation that cannot be fixed until there is an ultimate collapse. It's called the laws of economics, and they are as serious and real as the laws of physics. (Mark Levin Show, December 11, 2013)