35 Burst results for "Congressional Budget Office"

Mnuchin rejects renewal of some Fed emergency loan programs

Bloomberg Daybreak: Asia

00:58 sec | 6 d ago

Mnuchin rejects renewal of some Fed emergency loan programs

"Treasury Secretary Steve Mnuchin has sought the return of unused funds from the feds emergency landing facilities, but the central bank pushed back, They said the program served a vital role pollution and a little too. Fed chair Jerome Powell sort a 90 Day extension for just four of the central bank's emergency landing programs. Also said the Fed should return $455 billion to the Treasury so Congress can spend the money elsewhere. Bloomberg's Chris Condon says that doesn't make sense. This money was never scored against the U. S by the Congressional Budget Office because it is always expected that this money will revert back to the Treasury. In fact, to the budget, it's not money to be spent out its support lending. The fits of the emergency facility should continue to serve their important role as a backstop for the economy. All emergency programs created by the cares act will expire at the end of the year.

Steve Mnuchin Treasury Jerome Powell Chris Condon FED Bloomberg Congressional Budget Office Congress U.
CBO's Current Projections Don't Look Good

What A Day

01:19 min | 2 months ago

CBO's Current Projections Don't Look Good

"So the congressional. Budget Office released a forecast for the united. States for the next thirty years of economic growth and well, it doesn't look great. Cove. It is a big reason why so big picture deaths are way up and births are way down CBO is forecasting eleven million fewer people in the US and twenty twenty-fifty than in previous estimates declining population seems like something proper immigration policy could fix but I'm sleep. So outside of the covert bump, US deaths are up the report points to increasing deaths from Alzheimer's suicides and drug overdoses but also fertility is going down and CPO says that in the short term, this cove related, but it was already trending downward before the pandemic and now onto the money, the national debt in this country is growing and by twenty fifty CBO believes it will be twice the size of the. Entire yearly economy. That's because of the massive amounts of spending we're doing right now about the pandemic and then in later years if interest rates go up, that could start to pile on top of the debt for now though the Federal Reserve which sets interest rates has said they will keep them near zero for at least the next three years. But this is the kind of thing that down the road could threaten things like social security for those who rely on it most IMP. Republicans call for cuts the also projects income inequality to grow. That's because income's for the wealthy are expected to grow faster than the rest of us and their overall tax rates won't what else is new?

CBO United States Budget Office CPO Federal Reserve Alzheimer
Deficit to triple to $3.3 trillion: Congressional Budget Office

Sports Talk with Jason and Ed

00:13 sec | 3 months ago

Deficit to triple to $3.3 trillion: Congressional Budget Office

"And today, the Congressional Budget Office issued a report which indicates that the federal budget deficit is projected to hit a record $3.3 trillion due to Corona virus costs in the recession has more than tripled the 2019

Congressional Budget Office
U.S. National Debt on Track to Surpass Size of Economy

WSJ What's News

04:40 min | 3 months ago

U.S. National Debt on Track to Surpass Size of Economy

"The US has spent trillions of dollars fighting the coronavirus pandemic. All of that spending is pushing the nation towards a new milestone next fiscal year the Congressional Budget Office. Says US government debt is expected to exceed the size of the economy for the first time since World War. Two K. Davidson covers economic policy for the Wall Street Journal Hi Kate thanks for joining me Hi emery. Thanks for having me. So put this in context for us the last time the national debt was this high was World War Two, very different times in our history but these periods actually have a lot in common when it comes to national debt. That's right. The debt has been rising this spring in part because policymakers have even said, they view this moment as as a battle as almost a war against US global pandemic, they've spent trillions to try to cushion the economy from the negative effects who has businesses have closed down. Millions of people are out of work. They've approved a ton of money to get people enhanced unemployment. Benefits stimulus checks, emergency loans, and then also, of course, things like vaccine research and aid for hospitals. So all of that is going towards fighting would they do as this threat that's on on par with what we experienced during wartime. So the vast majority of this spending was, as you say to combat the coronavirus, can you detail some of the largest expenditures under those efforts? So the the? Biggest factors were, yes. All these stimulus measures I would say in the big ones were the the stimulus checks that went out. Remember most Americans got a twelve hundred dollars per person checks and and five hundred dollars for dependent children that was several hundred billion dollars. Congress also devoted a ton of money to the paycheck protection program. Those are those emergency loans for small businesses. That was another huge component between two bills. It was over five, hundred, billion dollars I think about six, hundred, billion actually, and then the third one is enhanced unemployment benefits. Stra six hundred dollar weekly checks that people have been getting on top of regular unemployment benefits. Those of course expired at end of July so that spending is coming down a little bit but all of those were. Big, pieces of this overall efforts to help the economy right now. Now, Congress is still debating whether to provide additional stimulus relief. How does the nation's debt load now play into these discussions among lawmakers? Well, I think it's it seems to be an important. Although both sides will sort of point fingers over whether these concerns are genuine Republicans have cited rising debt certainly is a big concern. A reason to be cautious about borrowing more Democrats are saying you know we we need to borrow now to protect the economy and it's worth it to take on more debt. If you're making sure that you're protecting economic growth on because leaving millions of people out of work at they're losing their homes businesses or closing can have long term negative effects on the economy. So they're saying it's worth it right. Now, and some of them are also pointing out that you know Republicans approved a very large tax cut a couple years ago that has constrained revenues and definitely both sides have approved big spending increases in recent years. So there's plenty of blame to go around but I think right now most people in most economists are saying debt should not be the top concern. So some some Republicans have acknowledged even some in the administration are saying look we we can't afford this right now especially, because interest rates are so low and we should do more. Right, and you spoke to some economists who said that despite the big economic contraction in the second quarter, this could have been much worse without some of the fiscal support detailed. That's right and we can see that in the data there are some some groups that break this down they look at the contributions of federal spending to overall GDP and right there was a a big drop off in the second quarter but we saw that fiscal stimulus spending by the federal government actually contributed but had a very positive effect in in other words supported supported economic output and made sure that it wasn't even worse. So you know just because of the way that. GDP is calculated and that's that's fairly typical during a recession. We see governments come in and do it the question right now as well. How much more support is the economy really need and I, think some people are worried that there. We could see because of these debt concerns we could see a situation where what we saw after the last recession where some people argue Congress pulled back on this support to quickly they pulled back too soon and that just really slowed the recovery. So so some folks are saying look don't make that mistake this time around yes. Debt is very high but we we can afford it. There's still big demand for US

United States Congress Emery Congressional Budget Office Wall Street Journal K. Davidson Federal Government Kate
Budget deficit to hit record $3.3T due to virus, recession

Jeff Katz

00:32 sec | 3 months ago

Budget deficit to hit record $3.3T due to virus, recession

"Federal budget deficit is projected hit to hit a record $3.3 trillion due to covert 19 cost and the recession. That's more than triple the 2019 shortfall. The deficit projection was attributed to the corona virus, disruption of the economy and the cost of legislation enacted by Congress. In response to the pandemic. The Congressional Budget Office issued the report today. The enormous deficit Is bringing the federal debt as measured by the size of the economy near levels not experienced since the end of World War two.

Congressional Budget Office Congress
Federal Budget Deficit Shrank in July

iHeartRadio Podcast Premiere

00:19 sec | 3 months ago

Federal Budget Deficit Shrank in July

"The money. Thanks to you. The Congressional Budget Office estimates the July budget deficit was a mere $61 billion half what it was in July of last year. But that's just because the tax deadline was differed from April to July, and the total tax revenue was about 10% lower because of the economic downturn. Our unemployment checks

Congressional Budget Office
Federal Budget Deficit Shrank in July

Mark Belling

00:18 sec | 3 months ago

Federal Budget Deficit Shrank in July

"Is in the money. Thanks to you. The Congressional Budget Office estimates the July budget deficit was a mere $61 billion half what it was in July of last year. But that's just because the tax deadline was differed from April to July, and the total tax revenue was about 10% lower because of the economic downturn. Our

Congressional Budget Office
US budget deficit hits all-time high of $864 billion in June

South Florida's First News with Jimmy Cefalo

00:31 sec | 4 months ago

US budget deficit hits all-time high of $864 billion in June

"$864 billion. That was the federal budget deficit in June. Triple what it was in June of last year. It's the gap between the 1.1 trillion and spending and the mayor, 241 billion in federal taxes. That month. About half the spending was on the Federal Paycheck protection program, and the monthly revenue is off 28% because the deadline to pay taxes Was moved from April 15th 2 July 15th. But the Congressional Budget Office says the deficit is tracking toward 3.7 trillion for the full fiscal year.

Congressional Budget Office Federal Paycheck
The U.S. budget deficit soared to $864 billion in June, higher than all of 2019

Sean Hannity

00:41 sec | 4 months ago

The U.S. budget deficit soared to $864 billion in June, higher than all of 2019

"Hit a record high last month, government spending on Corona virus relief and millions of job losses cutting in the revenue combined to create the largest monthly budget deficit ever in June totaling $864 billion. The federal deficit grew by more than $2.5 trillion since October 1st, the Congressional Budget Office now forecast the annual deficit to hit $3.7 trillion. Last month's deficit was driven by federal spending on economic relief programs like an expansion of unemployment benefits and the paycheck protection program. In addition, federal revenues are down in part Because tax day was delayed until July 15th. Jared Halpern

Congressional Budget Office Jared Halpern
"congressional budget office" Discussed on WHAS 840 AM

WHAS 840 AM

01:51 min | 5 months ago

"congressional budget office" Discussed on WHAS 840 AM

"Congressional Budget Office is still forecasting a bounce back from this year's lows by the end of this year. But after that It's predicting a long, slow recovery that could last 10 years. A decade of 2% average annual growth seems after the last recession well, US markets were closed for the fourth. Asian markets were looking on the bright side, while Europe focused on the dark clouds. Silver reports indicate China's strict corona virus lockdowns paid off and its economy is bouncing back. The Shanghai Index jumped 2%. Hong Kong's Hang sing up one. Japan's Nikkei up seven tense but European traders were gloomy about global growth. Germany's DAX fell 6/10 London's Footsie one and 1/3 percent U. S. Markets finished the short week on the upside and the NASDAQ closed with another all time high. It's 23rd this calendar year. Nations. Emergency rooms are bracing for more fireworks injuries than the usual fourth of July weekend, with most cities canceling their fireworks displays to discourage mass gatherings, Mohr amateurs or in control, So Phoenix Fire Marshal Brian Scholl Is offering some tips. Make sure on concrete or bare dirt. Don't be anywhere near any kind of brush or nearthe house makes you have a water supply nearby. Remember, only adults should like the fireworks. There are also common sense safety precautions that partiers always seem to forget on America's birthday. Don't hold a lit firework. Don't aim A bottle rocket at your buddy's head. Don't blow stuff up. The arts are so inundated right now that we don't want people using fireworks getting hurt and then overwhelming on the ers. Nonetheless, if history is any indicator, emergency calls will be up this weekend. Mad Euros Reporting for NBC news, and this might be a good weekend by a car dealers are eager, and some are offering 0% financing. The U. S News and World Report is out with its best Fourth of July card deals list and the top 10 includes a full sized truck to sports cars and multiple family friendly SUVs..

Congressional Budget Office US U. S News NBC U. S. Markets Europe Hong Kong China Brian Scholl Mohr Germany London Japan America
U.S. Unemployment Rate Fell to 11.1% in June

The 11th Hour with Brian Williams

05:31 min | 5 months ago

U.S. Unemployment Rate Fell to 11.1% in June

"The president wasted no time heading to the cameras to the record jobs gain in June. There's not been anything like this record setting shattering all expectations, our economy is roaring back. It's coming back extremely strong. These are all historic numbers. A record never had a number like that an all time high think of that that's the largest increase in the history of our country. That's a tremendous number a phenomenal number so these are numbers that are not numbers. Of, the presidents would have. This has been a tremendous success. We've done an incredible job we've done a historic thing likes of which nobody has ever seen before in my opinion. Donald? Trump got to use all the superlatives today talking about the job number, but it's important to look deeper into those numbers. CNBC points out one big contributor to the decline in the jobless rate was those returning to work from temporary layoffs? This comes as a new report from the Congressional Budget Office that says the unemployment rate is expected to stay above pre pandemic levels through. Through the end of twenty thirty worth US more, we welcome to the broadcast policeman senior economics reporter with our sister network CNBC. In an old friend of Mine Steve. Great to see you. Thank you for being with us. I mean it kind of was humor listening to the president as I said us all the superlatives, because there's a big piece of context here these are. These are jobs in many cases that people were not working at. As opposed to the creation of new jobs. These aren't jobs created and what the president has missing. There is the historic job losses that happened just a couple of months ago. That were multiples of the jobs that have been brought back in fact alley. I think the best way to think about this. As it was really a bittersweet number, the president was right. It was several times. It was just about double the expectation for point million. It was indeed a record, but let's just do the math. We've lost twenty two million jobs since the corona virus hit the US economy. We brought back seven. Seven and a half million, so everybody can do the math at home. That's fourteen and a half. Million jobs still not return. We brought back about a third. It's a bit quicker, but the other bittersweet part about this thing Ali is that with these renewed shutdowns? You have two things going on. You could have businesses that have shut down and won't we open now? Because of these new infections, but you have businesses that didn't even close before because those places were not affected by the virus, and those workers unfortunately could join the ranks of the unemployed. Let's talk about the more important thing that people like you. And I think about, and that is structurally what has happened to the job market? How much has been destroyed? That won't come back when we return to some version of normal the the the the congressional. Budget Office talks about not getting back to these particularly low unemployment rates that we were at before coronavirus until twenty thirty. That seems uniquely pessimistic, a lot of people talking about two to three to four years. How what does that look like long term return to normal? The best forecast I've seen have been my two or three years. I think that the CBO is extremely pessimistic. But we're looking for Ali is something that economists are now calling scarring in other words we've we had a lot of people. Go on temporarily. A lot will come back, but for some of these places the business may not be there anymore. The job may not be there anymore. On the plus side, there may be new jobs if people continue to get more stuff online rather than in retail stores, but. But some of those retail stores they may never reopened some of the restaurants. They can't survive at fifty percent capacity until we go back to one hundred percents of there's going to be scarring the economy. The extent of which I think the CBO may be too pessimistic, but the idea that we're going back to the way. It was a couple months ago. In short, order is almost certainly to optimistic. Stevens. I know it's something you think about it. Because I know you talked about it a lot of CNBC. How do you reconcile the record stock market performance? We're in very strong territory of Martian popped into earth and looked at the stock market. They'd say all our problems are over. Well it's something that you know. If I had another eyebrow I'd raise that up, but and if I could raise them higher than my forehead. I would do that, too. It's a curious thing to watch. There is an awful lot of the liquidity from the Federal Reserve. In the system. Interest rates are very low. If you're looking to have a return on your money, you can't do it in the charter market. You've gotta go into stocks I think that's one thing. I think there's a belief among some among many investors right now that the economy will return something normal in short order in a six month or one year timeframe. So I think those two things kind of combine the other thing Ali is if you look certain stocks have done very well and pushed up these indices, but some of the stocks and some of the industries that we've been talking about. Have not done well ahead of not come back, so so the market is correctly I. think discounting that and this changed economy that we're gonNA half example with the airline. Airline, so it is curious to watch this market think that things are going to get better as quickly as I think. The market's a little bit optimistic when it comes to discounting the uncertainty of this virus, and as you know Ali, the Fed has been all over this idea saying, wait a second. We don't know if this thing's GonNa come back and I think they've been proven right on that score.

President Trump ALI Cnbc CBO Congressional Budget Office United States Federal Reserve Donald Trump Budget Office Reporter Stevens
Consumer Confidence Rising After Deep Plunge In April

Marketplace with Kai Ryssdal

02:48 min | 6 months ago

Consumer Confidence Rising After Deep Plunge In April

"Learned this morning from the good people at the Conference Board Business Research Group. We learned that consumer confidence in this economy is up of this month after tanking in April the reaction to that good news because it is good news prompted this reaction from White House economic adviser Larry cudlow on Fox News. This morning. The third quarter could be the fastest growing quarter in. Us history. The whole second half is going to be very strong and here comes the reality check on their reaction to that good news first of all let us remember. We are in the second quarter right now. April may June where the percentage decline in Gross Domestic Product is expected to be epic worst ever retail sales. Were down last month. The unemployment rate is upward. Hasn't been since the Great Depression and they're still. Oh so much uncertainty about what's going to happen next now. Why am I saying? This economists. Megan Green a senior fellow at Harvard's Kennedy School helps us out with that. For example if you say An economy is running at a level of ten. It's producing ten things. Let's say and there's a fifty percent decline then that brings it down to five okay but then and let's say the next month. Actually things go really well. And you've got a fifty percent increase. Sounds great right. It's from a lower numbers so that doesn't bring you back up to ten at actually only brings you back up to seven point five. So the percentage changes can be really misleading. Mr Kudlow this morning it has to be pointed out and as you said is talking about Q. Three July August and September. So I think that as the economy opens up we should see the economic data improve and depending on how you're looking at that data it will either improve a little or it will improve a lot for instance. The Congressional Budget Office figures. There will be a better than five percent increase. Gdp growth in that third quarter. Mr Kudlow was talking about but to review a lot of that. Depends on what you're comparing it to now. Why are we telling you this? I realized that's the second time we've asked this. But this matters that third quarter. Gdp number is going to come out just five days before the election. I think the Republicans will come out and say look we've got the best GDP data ever And we've got the best job state at ever looking at percentage changes in. They'll be right actually. Technically that's true but at the same time the Democrats will be saying we'll but we're still really far below. We were before this crisis even started. And there's a lot of room for improvement and they'll also be right and show. I think people will be getting these mixed messages on what the state of the economy is in. Actually both of them will be correct. You just need to learn how to read the data at understand what it all means

United States Mr Kudlow Fox News Economic Adviser Congressional Budget Office Conference Board Business Rese White House Larry Cudlow Megan Green Senior Fellow Harvard Kennedy School
Jobless claims total 2.4 million, still elevated levels but a declining pace from previous weeks

The Gee and Ursula Show

00:33 sec | 6 months ago

Jobless claims total 2.4 million, still elevated levels but a declining pace from previous weeks

"Nearly two and a half a million Americans are now out of work that's according to the latest unemployment report the labor departments I should say two and a half million new claims the Congressional Budget Office now project the unemployment rates will be at nine percent so by the end of twenty twenty one that is just one percentage point below where it was at the worst of the Great Recession CBS's business analyst Jill Slazenger the labor department says Washington added more than a hundred and forty five thousand jobless claims a thirty percent increase from the

Congressional Budget Office CBS Jill Slazenger Labor Department Washington Business Analyst
Another 2.4 million Americans file for jobless aid

Newsradio 950 WWJ 24 Hour News

00:41 sec | 6 months ago

Another 2.4 million Americans file for jobless aid

"Six the labor department has released its weekly jobless claims report and it's clear the corona virus continues to take its toll on the economy and American workers CBS news business analyst Jill Slazenger tells us two point four million people filed for unemployment benefits last week bringing the total number of people to nearly forty million she also tells us a Congressional Budget Office report projects the recovery will take longer as of the end of twenty twenty one the U. S. economy will be one point six percent smaller than it was in December of twenty nineteen CBO also believes the unemployment rate will remain above fifteen percent through September it is also likely to be above nine percent by the end of twenty

Labor Department Business Analyst Jill Slazenger CBO CBS
Nearly 39 million have sought US jobless aid since virus hit

AP News Radio

00:43 sec | 6 months ago

Nearly 39 million have sought US jobless aid since virus hit

"Nearly thirty nine million workers have now sought unemployment benefits since the corona virus hit the labor department says more than two point four million people applied for jobless aid last week pushing the total to thirty eight point six million website benefits since the virus triggered widespread business shutdowns two months ago and that total does not include two point two million people with saudade under a new federal program for self employed contractor in gig workers the nonpartisan Congressional Budget Office estimates the economy is shrinking out of thirty eight percent annual rate this quarter that would be by far the worst quarterly contraction on record my camp in Washington

Labor Department Congressional Budget Office Washington Self Employed
US government sees record monthly deficit of $737.9 billion

AP News Radio

00:39 sec | 7 months ago

US government sees record monthly deficit of $737.9 billion

"Hi Mike Rossi a reporting the U. S. government is running a record budget deficit the massive spending on corona virus pandemic relief and the decline in revenues pushed the federal government to its largest single month deficit ever in April the treasury department says the federal government shortfall last month was seven hundred thirty seven point nine billion dollars that exceeded the previous single month record set in February by over five hundred billion dollars the April shortfall was even more stark because the treasury normally record surpluses in April the Congressional Budget Office estimates the deficit for the entire year will be an all time high three point seven trillion dollars Mike Rossio Washington

Mike Rossi Federal Government Treasury Department Treasury Congressional Budget Office Mike Rossio Washington
Trump predicts ‘incredibly strong’ third-quarter growth as US faces first downturn in years

Sip Northwest Live

00:49 sec | 7 months ago

Trump predicts ‘incredibly strong’ third-quarter growth as US faces first downturn in years

"But president trump says the third quarter economic numbers could see a steep upswing president trump's chief economic adviser Larry Kudlow on ABC's this week according to the Congressional Budget Office and a bunch of private surveys we're gonna see very strong second half of the year probably twenty percent economic growth policies that were in place on lower taxes and lower regulations are still in place we may expand on those policies with the Congress next year twenty twenty one could be a tremendous not back in the U. S. economy but new cash carry president of the Federal Reserve Bank of Minneapolis saying not so fast the recovery that is if we see a lot of small businesses going through bankruptcy where you're gonna have a and T. empty strip malls for a while until new businesses form the recovery ends up taking a lot longer he says to solve the economy we must first solve the

Donald Trump ABC Congressional Budget Office Congress President Trump Federal Reserve Bank Minneapolis Economic Adviser Larry Kudlow
Unemployment hits 14.7%, the worst since Great Depression

Global Financial Review

01:52 min | 7 months ago

Unemployment hits 14.7%, the worst since Great Depression

"In Kevin's an economic adviser to president Donald Trump thanks a senior adviser he said employment could hit twenty percent by June right the White House is telling Americans to brace for a period of great depression level unemployment this summer I have said a senior economic adviser to Donald president Donald Trump on Tuesday this last week the jobless rate United States could spike between sixteen and twenty percent by Jim that would be a startling spike from the current levels of four point four percent in would mark the highest unemployment since the nineteen thirties folks unemployment spiked to twenty five percent in nineteen thirty three according to US bureau of labor statistics he said the economic numbers between may and July will be as bad as anything we've ever seen he shared with CNN's poppy Harlow the big issue is the risk of the second wave right the Congressional Budget Office forecast is based on the assumption that social distancing requirements are drastically reduced during the second half of the year as this pandemic hopefully fades the risk is that the second wave infections forces stay at home orders to snap back derailing the economic recovery moody's investor services warned Tuesday that the renewed lockdowns would deal a severe harm to the economy it could quickly escalated to a deeper financial crisis wow deeper than what but by far on a scale and scope than the two thousand and eight financial crisis in fact has its finish the service said if there's another wave in September has it said the economy is going to take another hit for sure no I don't share these things to fear monger you I show these things to educate you because most the time what you're hearing is fake news and it's not giving you the truth it is meant for mind share with me years ago all progress begin and the truth is folks it's rocky and it's about to get

Kevin Economic Adviser Senior Adviser White House Donald President Donald Trump United States JIM CNN President Trump Donald Trump Us Bureau Of Labor Poppy Harlow Congressional Budget Office
Jobless rate spikes to 14.7%, highest since Great Depression

AP News Radio

00:55 sec | 7 months ago

Jobless rate spikes to 14.7%, highest since Great Depression

"The U. S. unemployment rate is now the highest since the Great Depression as the virus pandemic continues hammering the economy two months after hitting a fifty year low the jobless rate is now fourteen point seven percent the government says some twenty and a half a million jobs simply disappeared in April one month the nearly wiping out eleven years of job growth with the nation all but shut down it's fully expected there's no surprise president trump telling fox and friends it's not his fault the economy had to close and when it re opens those jobs will all be back and I'll be back very soon but few economists expect a fast turnaround the Congressional Budget Office predicts the jobless rate will still be near ten percent by the end of next year for now the damage may be worse than it seems just fifty one percent of working age Americans have jobs the lowest number on record Sager made Donnie Washington

Donald Trump FOX Congressional Budget Office Sager Donnie Washington President Trump
"congressional budget office" Discussed on WBZ NewsRadio 1030

WBZ NewsRadio 1030

02:29 min | 10 months ago

"congressional budget office" Discussed on WBZ NewsRadio 1030

"Thanks for being with us here on the record open show we're talking about the impact of the coronavirus on both the domestic and global economies I NG economist iris paying says retail sales in China are going to expand despite the virus but she says they're only going to expand three to four percent this quarter would have been even more the Congressional Budget Office not convinced yet the CBO says they've modeled the economic effects of a flu pandemic and they said that one hundred thousand deaths would cut our GDP by one percent it wouldn't even cause a recession focus on that number this is amazing the CBO says that if we suffer a hundred thousand people dying in the US our economy will still be growing by the way the flu in the U. S. has second nineteen million people this year we've put a hundred and eighty thousand into the hospital ten thousand have died from the flu we should be more worried about the flow then you should be worried about the coronavirus I'm just trying to help you put it in the context if you are saying yourself golly Gee will occurs I'm worried about my investments because of this you're worried about all the wrong things what you should be worrying about our old people sick people babies who don't have the immune systems to protect themselves and defend themselves effectively against viruses you should be worried from a public health care perspective you should be focusing on this from an effort of washing your hands making sure that those around your washing their hands that if you sneeze please enter your elbow don't look at your mutual fund statements and conclude you need to sell out of a fear that a pandemic is going to wipe out the human population by the way if it did I don't think you have to worry about your investments anymore so it really is proper context proper perspective and recognizing this too shall pass there is something you ought to be worried about there's some action you know to be taking about the were you ought to be having it's no it's not the corona virus to stop the flow it's taxes okay yes we know death and taxes always go together and so yes it's tax season and what we are telling you to do with your tax return is something we've been telling you to do for the past couple.

China Congressional Budget Office US
"congressional budget office" Discussed on WCBS Newsradio 880

WCBS Newsradio 880

03:08 min | 1 year ago

"congressional budget office" Discussed on WCBS Newsradio 880

"Good afternoon I'm Steve Scott three things to note for forty five one there is a demonstration underweight Foley square in lower Manhattan right now marking the fifth anniversary of Eric garner's death another rally is held to his schedule for Staten Island later on this evening to governor Cuomo slams the justice department for not filing charges against the cop involved in Eric garner's death but he wouldn't say a Papa Sir Daniel Pantaleo should be fired and three the city is open cooling centers ahead of those searing heat wave this weekend the mercury could hit one hundred degrees in New York City now it's four forty six on WCBS it will not be an easy pass in the Senate for the nine eleven victim compensation fund bill which has already passed the house at least one senator is putting up a road block on our news line Connecticut democratic senator Richard Blumenthal senator what can you tell us about what is happening in the Senate with the nine eleven B. C. F. bill outrageously and frustratingly one of our colleagues rand Paul of Kentucky objected to moving forward with unanimous consent to the nine eleven victim compensation it defies comprehension dad our colleagues any of them would object but that's what happened when senator Gillibrand and I and number of others advocated that we move forward unanimously senator if I understand Senate rules right what senator Paul is doing doesn't kill the bill but it certainly slows down the process to passage right that's the good news it slows down the bell but by no means kills it and we're gonna be crossing the Majority Leader senator McConnell to give us a boat as soon as possible a vote on cloture which tends to be a going through the normal regular order and making sure that the Senate fulfills its moral responsibility it's beyond just a legal imperative it's a moral responsibility as you understand it what is senator polls objection to unanimous consent on this trying to make sense of this hour again and unfounded action and I I am utterly baffled by it is really very difficult it may be it the fiscal cost but ten billion dollars which is the Congressional Budget Office estimates he is a tiny minuscule fraction of our total federal budget and it for anybody like senator Paul because we can't afford it my answer is we can't afford not to do it and if I would send a call a couple looking in the mirror tomorrow do you have confidence that leader McConnell will call it for a vote and it will pass it is an account said he's going to call for a vote I want to know when it ought to be all right away there's no excuse for delay.

Kentucky senator McConnell Richard Blumenthal Connecticut governor Cuomo underweight Congressional Budget Office senator Paul senator Gillibrand Steve Scott senator Senate New York City Papa Sir Daniel Pantaleo justice department Staten Island Eric garner Manhattan
"congressional budget office" Discussed on C-SPAN Radio

C-SPAN Radio

11:11 min | 1 year ago

"congressional budget office" Discussed on C-SPAN Radio

"York has five new members in its congressional delegation. All of whom are Democrats Representative Alexandria Calcio Cortez joins the house as the youngest member of congress at age twenty nine. She defeated longtime Representative and then chair of the House Democratic caucus. Joe Crowley in a primary election last summer voters in New York's twenty second district elected Anthony Brindisi to congress. He previously served seven years in the New York state assembly before that it was an attorney in private practice Representative. Antonio Delgado was also an attorney prior to his election to congress, but he also had a brief career as a rapper releasing one album a couple of years after his graduation from Harvard Law School. Max rose was elected to represent the eleventh district, which includes Staten Island and southern Brooklyn. He previously served in the US army, including leading a platoon in Afghanistan or he was wounded by earning a purple heart and bronze star Representative Joseph Morelli joined the house. A few weeks ahead of his classmates after winning both a seat in the one hundred sixteenth congress and an election to fill the seat of late congresswoman Louise slaughter for the remaining weeks of the one hundred fifteenth. Congress congressman Morelli had previously served in the New York state assembly since one thousand nine hundred eighty one including five years as majority leader new congress new leaders, watch it all on C span. At the top of the hour. More Washington today. Now, more of our conversation this morning on the Washington journal, and we talked about the cost of the government shutdown with shy. Other bipartisan policies. Rebate, wisconsin. Bob is Republican good morning. Morning guys. I just have a couple of questions I had a couple of Hondurans who took my job would they send all their money home? Is there a way that we can tack that for the wall or reporters Curie number two has the CBO ever been right? That's just I don't know. I don't have the answer for anything. Thank you. Good question. So I I would expect that those workers get taxed on their income already through income taxes or payroll taxes. Obviously it depends on their employment situation. Whether they're reporting their earnings as all Americans everyone living in America is required to do. But they should be paying income taxes on those earnings that they have on the second question this. The Congressional Budget Office is rarely right to the decimal point. And that's because there's a lot of uncertainty in all of these projections that they make they emphasized throughout the reports that uncertainty and that they are not going to ever hit it right on the Mark. But they are considered the best forecaster that we have for government spending and taxes that we are expected to take in as well as a pretty good forecaster of economic factors that doesn't mean that they're going to predict when the next recession is going to happen. Very few people are able to do that certainly that's not their expertise. But they do give a very, balanced and neutral sense of where we are headed as a country. In fact, the scenario that they paint. As a baseline, meaning without any expert expected changes is almost an optimistic scenario in the sense that they are instructed as to how they score all of the programs in the federal government and the taxes that are taken in, and they have to expect the congress is not going to make changes to those programs when they make what's called a baseline. They also print what's called an alternative fiscal scenario, which I would call a more realistic scenario of what is likely to happen. So for example, the tax cuts that were passed the year before last many of those are expected to expire in twenty twenty five and the alternative scenario, the more realistic scenario in my mind shows that those will be extended into the future if we ever reached that point, and they base that in part on past example, where we had tax cuts that were large broad base that were on the borderline of expiring back in two thousand ten all of them got extended for two more years. So twenty twelve most of them got extended after that. It's very hard to get temper. But long lasting and broad-based tax cuts. That are set to expire allowing them to expire. So those are the types of changes they make to their baseline to try to make a realistic projection of where the budget is going in the future. We've talked a lot today today about the February fifteenth deadline coming up for that conference committee to come up with some sort of deal on border security, but look ahead to another deadline March second is when the debt limit is set to be reinstated. Remind us why it was suspended the debt. Limit is what restrains the federal government from borrowing further to fund its operations as we talked about. There's a large gap right now between the spending we're doing and the revenues were doing. So it does need to continue borrowing on the order of about nine hundred billion and growing per year the federal debt limit was suspended as part of a budget deal. I believe a little over a year ago about a year ago now to come back into effect on March second, and the reason they do that was to give to acknowledge that we have spending that Alpes. Our revenue for another period of time. But then it comes back into effect. So that congress has decided they want to reevaluate that decision and decide whether we should allow the government to borrow more. What's important to recognize that the borrowing is just the result of spending and taxing decisions that congress and the president have already made so not allowing us to pay. The bills is a very ineffective way to run the government to say that we owe this money, we owe this debt because we borrowed and then we're not going to be able to either pay the interest on it or borrow more to pay the contractors or businesses were providing goods and services to the federal government or send out checks to Americans all across the country. It's expected to come back into effect on March second the actual quote unquote deadline where something catastrophic could happen. If action isn't taken probably won't happen as we project at the bipartisan policy center until the summer of the fall, we have more resources on the website at the bipartisan policy center, the people can go to to find out more about development. It's by partisan policy dot ORG time for a few more calls, which I marines waiting in Greenville, Mississippi, a democrat good. Morning. Good morning. I just had a statement. I wanted to make while everybody is distracted. I feel and focused on those handful of people that are coming across the border to work a lot of kinda minimal labor jobs. What is being done or what about those that you speak to the legal immigrants that you speak to the telephones every day they worked for the fortune five hundred companies major insurance companies credit card companies and all these fortune five who's got these big tax cuts. But you can't hardly order pizza now without someone picking up, and what Trump called is s whole countries. And I wanted to just kind of make that statement concerning that. Why why do you think they're illegal immigrants when you talk to them on the phone because they don't because they're in another country. They are not a part of this country. They're picking up overseas. So they are not a citizen of the United States. So you don't think companies should be able to have call centers overseas. I mean, there's jobs. They're complaining about the ones just walking across on foot to come work jobs. But because they're are picking up all phones overseas, and they are not a legal immigrants of the United States. I would consider them as illegal immigrants, but just happened to work for fortune five hundred companies picking up a phone. I don't see the difference. You can explain it to me. Cycads any thoughts? Well, there are call centers that these companies have where they employ people overseas to serve some of the functions of their businesses that simply comes from the fact that labour costs overseas are often cheaper than they are here in the United States. There are policies that we can try to put into place in terms of taxes or investments that we make that try to make our economy more competitive in our labor force more competitive, but it is difficult when you're looking at other countries overseas that just overall have much lower costs of living and wages to make ourselves competitive with those when those options are available. So there are certain positions where? That need to be filled where it's almost impossible to make US workers competitive with those workers overseas because you'd effectively be having to pay them significantly below minimum wage in the United States for one more. Call been waiting in Florida Republican good morning. Good morning. Go ahead, sir. About the wall. You know, I think we should have the wall. I think we need the wall. Trump ran on building. The wall is in. He got elected for. And as far as Democrats go. I think there's probably a few Democrats that would go along with the wall. But then you got Pelosi with a sense of all the way around her house, and she won't even give a dollar Bill to the wall. And if you took everything that we cost cost us for all I'm illegally inside are here, taking your they? They get mad because they separate the baby they did hospitalization. They get food. And they they get all this. If you just took one half of that money and spend it on the wall, you would have that wall. And then some and you would have less expenses on them a mental on the immigrants being here on food and housing and everything else and are not even citizens the reading the Democrats want them in there. So they can get the votes, and that's what Pelosi and Pelosi so mad because Trump got in that she's not going to give in or nothing and why. Why does she have a wall around her house got so shack, we get this statement a lot on what legal immigrants are getting in the United States in terms of benefits. Have you done research on that? Can you talk a little bit about that? That's not my primary area of expertise. There is there are some programs that are available to even people who are not here legally, certainly many government programs that are accessible to all Americans things like social security. They are not eligible for. But I think to some extent in terms of the spending on those elements distracts us from the bigger picture, which is that we have a rapidly increasing federal debt the interest that we pay on that debt is actually going to exceed the spending that we do as a federal government on the Medicaid program for all low income Americans across the country in several years, and then the entire spending that we do on the defense department by twenty twenty five that's pretty astounding that we're going to be paying more in interest costs overseas talk about payments that go to overseas countries than we are. Or to spending on our department of defense, which protects the American people we need to figure out how we're going to address those problems going into the future with things like entitlement reform, reforming social security reforming the major healthcare programs that doesn't mean they need to go away. That doesn't mean they need to be overhauled..

congress federal government United States Trump Congressional Budget Office Representative Representative Joseph Morelli New York House Democratic caucus York Louise slaughter Joe Crowley US army Anthony Brindisi Brooklyn Harvard Law School Washington Bob forecaster
"congressional budget office" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

03:29 min | 1 year ago

"congressional budget office" Discussed on WNYC 93.9 FM

"NPR news Mayan silver in Milwaukee. The nonpartisan Congressional Budget Office estimates that you will lose three billion dollars from the partial federal government shutdown. The office says individual businesses and workers will suffer especially those who lost pay during the five week hiatus. President Trump's economic adviser. Larry cudlow rejected the CBO report. He says that it is a small fraction of the twenty trillion. Dollar US economy. You're listening to NPR news from Washington. This is WNYC from New York. I'm Richard Hake. Good morning. It's eight oh, four twenty nine degrees. Overcast, we do expect some rain, and then some snow later tonight. An estimated ten thousand immigration cases in New York had been delayed due to the partial federal government shutdown rescheduling those cases can be especially stressful for immigrants seeking asylum. But as WNYC's Beth Fertig says a delay case could be an advantage for other immigrants who had long odds of winning in court if their trials get delayed until let's say twenty twenty or later there may be a new president with new immigration policies. So that could help someone who has a difficult case now because of the Trump administration's policies those include immigrants hoping to win asylum based on claims they fled domestic violence or gangs in their native countries. Two scenarios that the current administration does not consider grounds for asylum. Advocates say it shouldn't be just high-profile refugees who get waivers from the Trump travel ban three act. Is in New York player among the well publicized applicants from van countries who've been led into the US, but Betsy Fisher from the international refugee assistance project says many lesser known people have been turned away in an opaque process. You shouldn't have to have celebrity to be free from discrimination that that shouldn't be part of the process, and that level of arbitrariness really shows how this ban is a mockery of the rule of law. Fischer says the Trump administration hasn't explained how people can apply and hasn't disclosed how many have been leading in or turned away after more than a decade of trying advocates for survivors of childhood sexual abuse succeeded in getting a Bill passed in Albany. That'll make it easier for victims to seek Justice the child victims act passed the democrat controlled Senate and assembly yesterday, the daily news Albany bureau chief can love it says for years groups, including the Catholic church in the boy scouts of America. Pressured members of both parties to block the Bill there were powerful interest groups who were against this. And and I think that played a huge role and that said. You know, a lot of victims. Let's be honest. They can't afford high-powered lobbyists. The measure now goes to governor Cuomo who said he intends to sign him. The New York legislature is set to expand the state's gun control laws today. At least eight bills are expected to pass the democrat controlled assembly and Senate include measures like a ban on bump stocks longer waiting periods for some buyers and a law permitting. Authorities to confiscate a household firearms. If someone living there is deemed to be a threat. New York City council speaker Cory Johnson might be interested in running for mayor after all. And now, he's making sure the optics of his fundraising records, right? The democrat from Chelsea said yesterday that he's no longer accepting donations over two hundred fifty dollars and no money at all from real estate, developers lobbyists or corporate political action committees. If I decide to run if for some reason it worked out for me. No one's going to have a huge level of influence with me. The mayoral election is in the fall of twenty twenty one. We do expect rain later today..

New York Congressional Budget Office Trump administration President Trump WNYC US Senate Albany Bill Larry cudlow governor Cuomo Milwaukee NPR economic adviser Richard Hake Washington Beth Fertig Cory Johnson
"congressional budget office" Discussed on KNX 1070 NEWSRADIO

KNX 1070 NEWSRADIO

02:10 min | 1 year ago

"congressional budget office" Discussed on KNX 1070 NEWSRADIO

"Cost of the partial government shutdown a three billion dollar hit to the economy and the budget deficit will hit eight hundred ninety seven billion this year. According to the nonpartisan Congressional Budget Office and CBS's Nancy Cortes tells. Us federal watchdog determined. It could take the IRS at least a year to get back to normal after five million pieces of mail went unopened. It's gonna be massive ketchup at this point, Michelle Harris is one of thousands of IRS workers who were furloughed for thirty five days. She put off emergency dental work and car repairs and still hasn't gotten her back pay. She says some of her colleagues quit I know that it was more than people could handle in. They put in their notice. I don't blame on attorney general nominee William Barr says he never discussed one of the key issues dominating the nation's capital with President Trump CBS's Steve Dorsey in Washington in written comments to questions posed by members of the Senate Judiciary committee Barr says he never discussed the substance of the special counsel's investigation with President Trump. Meanwhile, bar also pledges to enforce federal laws protecting gay lesbian and transgender people from discrimination. He also says he supports expanding marijuana research. Facebook says people who see political ads on the site will soon. Get more information CBS Jim Taylor changes including the display paid for by. Disclaimer on those ads information like the amount of money spent and who paid for the ads also bailable the world's largest social network facing pressure from regulators and the public after last year's revelation that improperly acquired data on millions of Americans used to target election advertising. Well, China has touched off the legal process for the World Trade Organization to hear the country's challenge to US tariffs complaint. Looks to block them on two hundred thirty four billion dollars worth of goods Wall Street right now, the Dow is down three hundred sixty nine points, and the NASDAQ is off one fourteen. This is CBS news. Rocket mortgage by Quicken Loans. Rocket mortgage is with you every step of the way to provide a seamless mortgage experience rocket mortgage dot com..

CBS Us Michelle Harris President Trump William Barr IRS Congressional Budget Office Nancy Cortes Quicken Loans Facebook Senate Judiciary Steve Dorsey World Trade Organization Washington President marijuana China
"congressional budget office" Discussed on KCBS All News

KCBS All News

02:10 min | 1 year ago

"congressional budget office" Discussed on KCBS All News

"Cost of the partial government shutdown a three billion dollar hit to the economy and the budget deficit will hit eight hundred ninety seven billion this year. According to the nonpartisan Congressional Budget Office and CBS's Nancy Cortes tells us federal watch. Doc determined. It could take the IRS at least a year to get back to normal after five million pieces of mail went unopened. It's gonna be massive ketchup at this point, Michelle Harris is one of thousands of IRS workers who were furloughed for thirty five days. She put off emergency dental work and car repairs and still hasn't gotten her back pay. She says some of her colleagues quit I know that it was more than people could handle in. They put in their notice. I don't blame on attorney general nominee William Barr says he never discussed one of the key issues dominating the nation's capital with President Trump CBS's Steve Dorsey in Washington in written comments to questions posed by members of the Senate Judiciary committee Barr says he never discussed the substance of the special counsel's investigation with President Trump. Meanwhile, bar also pledges to enforce federal laws protecting gay lesbian and transgender people from discrimination. He also says he supports expanding marijuana research. Well, Facebook says. Says people who see political ads on the site will soon. Get more information CBS's Jim Taylor changes including a display paid for by. Disclaimer on those ads information like the amount of money spent and who paid for the ads also available the world's largest social network facing pressure from regulators and the public after last year's revelation that improperly acquired data on millions of Americans used to target election advertising. China has touched off the legal process for the World Trade Organization to hear the country's challenge to US tariffs. The complaint looks to block them on two hundred thirty four billion dollars worth of goods Wall Street right now, the Dow is down three hundred sixty nine points, and the NASDAQ is off one fourteen this is CBS news rocket mortgage by Quicken Loans. Rocket mortgage is with you every step of the way to provide a seamless mortgage experience rocket mortgage dot com..

CBS Michelle Harris President Trump William Barr IRS Congressional Budget Office Nancy Cortes Quicken Loans Facebook World Trade Organization China Senate Judiciary Steve Dorsey US Washington President marijuana
"congressional budget office" Discussed on The Nicole Sandler Show

The Nicole Sandler Show

05:07 min | 2 years ago

"congressional budget office" Discussed on The Nicole Sandler Show

"This is a big deal. Now, I saw that. Mark PO can he Pramilla Giac pallor the co chairs of the progressive caucus, and he issued a statement saying that they were going to vote for the rules package. And here's his quote, he said we have been concerned about pay go for months and have had numerous conversations with rules chairman Jim McGovern and house leadership about these concerns. We all agree that the real problem with pay go exists in the statute that requires it that is why we'll be introducing legislation in the one hundred sixteenth congress to end pay go. In the meantime, chairman McGovern and house leadership have committed to us that pay go will not be an impediment to advancing key progressive priorities and one hundred sixteenth congress with the assurances that pay. Go can be waived we do plan to vote for the house rules package and proceed with legislation to fix the statute. My first impression was I how naive can they be that what they're going to assure them that the wave the provisions why pass it if it's going to be waived it is seek a little surf. History lesson given okay. Pelosi as soon as she comes in two thousand seven institutes this rule for go which is substantially similar to what is is going to be in the rules for tomorrow. It it says that yeah, you can waive it. If there's an emergency exemption, so like the stimulus package passed obviously spent money, but that was given an emergency exemption from the pig. Oh, okay. So so that thing that sort of thing has happened before? But you know, it's at the discretion of the leader to to say whether something's an emergency or not right in twenty ten under Nancy, Pelosi's leadership signed by President Obama, a pay goes statute comes into to play a law saying that if congress deficit spins under, the the Congressional Budget Office ledger, you know. What they what they decide is deficit spending. Then automatic cuts suspending have to go into place. Now, this is true. But this can also be waived, and we saw this with the Trump tax cuts. There was some fear that because this was entirely unspent that that, you know, entirely unpaid for that there would have to be some cuts to the budget automatically instituted. But what what Republicans do they passed a law waving statutory, pay go and went forward. So yes, there are ways around sort of everything in congress. But it does beg the question of if if you're just going to put away around it, if you've been assured that this won't be an impediment anything, then why does it exist and the answer to why it exists is that it just gives another lever? To the speaker, and the leadership to you know, kind of block or or priorities that they they don't agree with? I mean, there was an excellent paper put out by Josh givens of the Economic Policy Institute, which explains that the stimulus Packers was probably made smaller because of pig go the healthcare law the subsidies were shrunk probably because of pay go the there was this. Maneuvering that remember the healthcare law passed in twenty ten but it didn't really come into to assistant until twenty fourteen Rafe that was to get around the, but the pay go rule because the spending wouldn't start until four years and even the taxes started right away way to sorta game pay go that contributed to negative impressions of the law. The the the government kind of switch to Australia and starting in twenty. Ten and and givens has this great stat in his paper that says that you know, if we would have spent on public investment at the same levels that we did after recessions in the sixty seventies and eighties. We would have had full employment at a level that we have today back in twenty thirteen. So this stuff has real consequences when you put in these artificial sort of ratchets to say that that we can't respond to crises in particular ways. Or we we we have to abide by this. This idea that the deficit is the most important thing in our political lives. They have it has real consequences for real people. And you know, to to say that oh, well, we can get rid of it whenever we want that Washington doesn't always work that way best laid plans. It's it's. You know and just to be clear..

Mark PO Pelosi Josh givens Jim McGovern chairman congress Congressional Budget Office Washington Economic Policy Institute Rafe Packers President Obama Australia Nancy four years
"congressional budget office" Discussed on KNBR The Sports Leader

KNBR The Sports Leader

02:30 min | 2 years ago

"congressional budget office" Discussed on KNBR The Sports Leader

"That's right taxes can take a huge by out of your lifestyle in retirement, and that's because you pay taxes and file tax forms that you never filed before. Instead of putting money into your retirement accounts. You're actually taking money out. And it's taxed. Have to pay taxes on your social security income taxes on your pension and all that tax. It's owed on those deferred accounts. Like your 4._0._1._K? So listen, if I gave you a choice between a taxable retirement and want you to write this down tax free doesn't tax free sound. So good. Which would you pick? Well, it's obvious. I'd pick tax free. Under the new tax laws are passed last December. I thought taxes went down. Well, that's true for most middle income retirees. But let's take a look at what's going on in our country right now since January first of two thousand eight. The first of seventy five million. That's a big number. Seventy five million boomers began to start retiring from work. And what are they doing while they're moving onto the nation's retirement programs like social security like Medicare are called entitlement programs. Since two thousand seventeen payroll taxes are not creating enough tax to cover the cost of these sort of payments. It's just simple math add to that the amount of deficit that's growing now. As a result of the tax cuts. So the government's going to have to make this revenue up from other areas, where do you think it's going to come from? Well taxes. Of course, they're going to be higher in the future. Again. This is my opinion need to say that. So entitled to an opinion. Look it up. It's called first amendment. Anyway. The Congressional Budget Office. The CBO says that if social security Medicare and Medicaid go unchanged on this is going. You got to write this down. This is incredible..

Congressional Budget Office Medicare Medicaid
"congressional budget office" Discussed on Intelligence Matters

Intelligence Matters

02:56 min | 2 years ago

"congressional budget office" Discussed on Intelligence Matters

"So on the resource piece three to five percent real growth is a huge dollar figure over a period of years, and we did not take position on where that money should come from. But stepping out of your role as the co chair of this thing, where's that money going to come from? Well, we do address some of the issues that that are raised by the resource question. I if you look at the long-term budget projections of the Congressional Budget Office, the CPO it's very clear. What's driving, the long term deficits, and that is the entitlement programs of Medicare, Medicaid and social security that makes up the bulk of defense is, you know, part of the so-called discretionary budget that the congress gets to to play with. And it's only about twenty five percent of that budget yet it's been bearing under the BCA fifty percent of the of the cuts. Clearly, I think where this money has to come from is some combination of reform of entitlements and revenue and speaking personally, I I'm willing to bear higher tax burden in order to make sure that we can defend the United States. I think it's the first obliga- tion of the that the constitution imposes on the congress, which is to provide for the common. Fence which is part of our title and at the end of the day, and it's part of their sponsor -bility of Lear's the country, both the president and the congress to make the case to the American people. Why that's important. That's important. Exactly. And we talked about that. You know, we spend some time talking about technology, and the fact that the rest of the world has caught up particularly with regard to technologies and they're important to the military. And there's a very interesting line in our report that recommends an quote here pursuing selective economic disintegration with rivals to avoid dangerous dependencies does that mean, what does that look like so one of the things that you know, has become clear in which we delved into as part of our deliberations was the degree to which the supply chain for the major defense contractors who provide the weaponry and the equipment for our soul. Sailors, airmen and marines, the men and women of all of our military services have dependency on in particular on things made in China. This is a consequence of globalization. And this is not anybody's fault. This is just a consequence of how the world commun- world economy works the law of comparative advantage and labor rates and comparative labor rates what have you, but we need to make sure we have to as a country..

congress Congressional Budget Office BCA United States Lear Medicare president China Medicaid twenty five percent fifty percent five percent
"congressional budget office" Discussed on News Radio 690 KTSM

News Radio 690 KTSM

03:33 min | 2 years ago

"congressional budget office" Discussed on News Radio 690 KTSM

"The Congressional Budget Office within just a couple of years that it just the interest payments alone on our data are going to be as much as we spend on the entire Medicaid program by twenty twenty three will be bigger than we spend on the entire defense budget. So really eye opening numbers here goodness. So many of us who might be alarmed by that thinks surely this is a wakeup call. But we've been down this path before though, right? I mean what what could happen. I guess in some of these may be worse case scenarios that are developing here. Yeah. Well, I think that the economic research has showed us that, you know, high high deficits and high high high data courses is not good for the economy over the long run. And this is a big part of the debate that lawmakers were having and and policy wonks or having around the tax cuts last year. You might remember. There was a big debate about tax cuts pay for themselves. And the reason why that was so important is that, you know, the the first of all Republicans are arguing that it was tax cuts. We're going to boost the economy, I think that definitely this year we have seen some of that consumers are spending a lot more that's driving this uptick and economic growth, but the concern from a lot of people was well, you know, we're going to cut taxes we need to cut spending as well because we're going to have lower revenues. You know, they're they're people aren't going to be paying as much as much in taxes seems to make sense. But the argument went well now it's going to generate so much growth. People are going to be making more money. More people are going to be. Working more revenues coming in. And it doesn't look like that's really what's happening. And so essentially what that means is that we had a much higher deficit this year than we did last year. And the government is set to issue a whole lot more get this year in order to get the cash that it needs to on the government operations because we just don't have the same revenue that you would expect to see it in an economy. That's doing this. Well, I mean, essentially revenue kinda were steady, but you expect them to be a lot higher. So anyway, that's a very long way of saying that we're continuing to spend a lot more. We didn't cut spending in response to the tax cuts actually the government passes, great big spending deal. So that's just me and more more and higher borrowing and it markets get nervous about that. Because again, it could weigh on economic growth crowd out private investment, speak with Kate Davidson, Wall Street Journal reporter about her story entitled US on a course to spend more on debt. Then defense is possible that things could. Reverse like that happened in the nineties. Right. We went from a debt to a surplus. Right. Exactly. You know, we we talked to someone in our story. Who said, look, you know, sometimes deficits are not all bad. Sometimes they're necessary to help get the economy really going and bring in more workers, enter workforce, and this this we talk about these things like they're never going to change like certainly policy makers at any time could take a big action to reverse things. And and I think there are a lot of a lot of people deficit. Hawks think tanks and people were kind of outside government looking in saying, wow, we really need to confront this. Of course. Now after the midterms we have a divided congress. So it's really unclear whether they're going to be able to come together and make these big really hard decisions to reverse this trend. Thanks, kate. That's Wall Street Journal reporter Kate Davidson, it is twenty minutes now in front of the hour on This Morning, America's.

Kate Davidson Wall Street Journal Congressional Budget Office reporter twenty twenty America twenty minutes
"congressional budget office" Discussed on KTOK

KTOK

04:09 min | 2 years ago

"congressional budget office" Discussed on KTOK

"I'm Gordon Deal along with Jennifer Kushinka on this Tuesday, November thirteen thanks for being with us. Here's what we have for. You this hour at thirty say at least forty two people have died from the so-called campfire in northern California. It's now the deadliest wildfire in state history in politics democrat, Chris Huston cinema wins the Arizona Senate race swollen Florida questions about why Broward County election officials still has a job. And the man behind marvel comics says died, STAN Lee, creator of characters like spider man, and the incredible hulk was ninety five and the US is now on a path to spend more on debt then on programs like defense interest payments that we're actually not that high. Starting to change as a fat is starting to raise rates again, the projection for some of these numbers are really astonishing respect the Congressional Budget Office within just a couple of years, just the interest payments on our debt are going to be as much as we spend on the entire Medicaid program. Wall Street Journal reporter key Davidson on newfound debt, concerns. It's the greatest loss of life from a wildfire in California history. Authorities now say forty two people have died from the so-called campfire in northern California that mostly burned the entire town of paradise Butte county sheriff Corey Honi says search teams yesterday found the bodies of thirteen additional victims he said two hundred twenty eight people were officially listed as missing in the disaster. But added that his office had received requests to check on the wellbeing of more than fifteen hundred people of those cases, two hundred thirty one of turned up safe. Gary Connor and his wife Marilyn. Lost their home and thrift store in paradise total loss. No doubt about that. Lasts seven years. Bill. Miss out. And. More build the bulk of the destruction and loss of life occurred in and around the town of paradise were flames reduced most of the buildings to ashes and rubble Thursday night, just hours after the blaze began the bodies of some of the camp fire victims were found in burned-out wreckage of fleeing vehicles that were overrun by walls of fire. Turning to politics democrat pulls off a rarity in Arizona congresswoman Kirsten cinema has been declared the winner of Arizona's US Senate race the first democrat in thirty years to win election to the upper chamber, she defeated Republican congresswoman Martha mcsally who conceded, even with the window. Republicans maintained control of the Senate. She replaces Republican Senator Jeff flake who chose to retire when his public disputes with President Trump appeared to hurt his reelection prospects miss cinema whose forty-two campaigned as a conservative democrat after beginning her political career as a liberal employed by Ralph Nader's two thousand green party presidential campaign. I tried hard to help others. See our common humanity and find our common ground, and I'm proud of how this approach has worked miss cinema will become the first openly bisexual member of the US Senate when she takes office in January when she was first elected to congress in two thousand twelve she was the first member to list her religion. As none. Something weird is going on in Broward County, and it's impacting the election results. In Florida's top races in the heavily democratic county in southeastern Florida evidence points to a combination of possible voting machine errors badly crafted ballots and some voters who skipped certain races on the ballots. But what's not weird is that democrat, Brenda Snipes? The head of Broward county's election office finds herself facing questions about bungled elections. So says Anisa bios political reporter with the Naples daily. News part of the USA today network. Ana what's up here? Advisor for elections friend science have had a few issues over the last fifteen year. She was appointed in twenty two thousand three by governor, Jeb Bush. She has been presiding over the elections office in Broward that in twenty sixteen for example, that most high profile..

Broward County Kirsten cinema US Senate US Arizona Senate California Florida Congressional Budget Office paradise Butte county Chris Huston reporter Gordon Deal Brenda Snipes Jeb Bush STAN Lee Wall Street Journal Broward Senator Jeff flake Arizona Jennifer Kushinka
"congressional budget office" Discussed on BizTalk Radio

BizTalk Radio

01:30 min | 2 years ago

"congressional budget office" Discussed on BizTalk Radio

"I I'm not sure what's happening on this program. Tomorrow. I can't recall I should have looked. But anyway, I'm sure it's going to be something quite nice coming up a little bit later on as well. We've got some more buckets discussion we talked about bucket number one today a bucket number two. We'll be sometime next week the time value of money. That's another fun thing. The time value of money that'll be next Tuesday. Lifetime income coming up on Monday tax brackets. We'll be talking about that marginal versus average and why it's important to understand. The difference between the two. Tax management is a big thing. And for some reason, I don't hear that discussed a whole lot online. When you talk about, you know, people often talk about getting to your retirement number and then distributing it in a certain manner. A lot of that stuff. You know, you should have these products or that products? I just don't hear a whole lot about tax management. When I read, you know, about retirement strategies, online sometimes it's brought up in brief. But for the most part, they don't talk about. So we will talk about that coming up next week on this program Email roundup coming up this Friday as well. Okay. Again. Eight seven seven planner. Let's see we have some trivia for today. Let's get to this one Congressional Budget Office. They're always, correct. In every single instance every time they make a ten year projection or so they are right on the Monday. It's kind of useless to make a tenure prediction. It's like trying to make a twelve month. Weather weather forecast..

Congressional Budget Office twelve month ten year
"congressional budget office" Discussed on WIBC 93.1FM

WIBC 93.1FM

01:46 min | 2 years ago

"congressional budget office" Discussed on WIBC 93.1FM

"Eric Berman reports speaker Brian Bosma says Brown slammed his motorcycle into an SUV which pulled into his path in northern Michigan. Indianapolis Representative Mike speedy was with Brown, but is reportedly unhurt no word yet of the series of Brown's injuries. The crossville Republicans serving his twelfth term in the house. Eric Berman Ninety-three WIBC mobile new house speaker Brian Bosma says Brown is an invaluable member of our leadership team. A dedicated public servant and one of his most cherished friends. The house is expected to vote on making last year's tax cuts, permanent the Congressional Budget Office predictions massive budget deficit, but Indiana, congressman Jim Bank says he believes voter support cuts. I believe the appetite is strong among the American people to see more of what they've seen especially when it comes to. The the first tax cut Bill now that they've seen the fruit of it. And seeing that the American people are better off today after the tax cuts for passed last year. I think they they would welcome more of it. The corporate tax reductions were made permanent immediately your individual tax cut expires in seven years without the extension Olympic gold medalist swimmer lily king is advocating for a new aquatic center in Evansville, Kurt Darlene reports she says a new state of the art aquatic center for Evansville is up and coming swimmers is a necessary investment for the city high school. You'll meet I've never slam a swim. Meet in my hometown. Just think about that. I I've never slammed a swim. Meet in my hometown mayor Lloyd Winneke is behind the proposal. He's requested the city council approved a plan to take a portion of a twenty five million dollar redevelopment bond and use it to help build a new aquatic center and open it by twenty twenty Kirk darling. Ninety-three WIBC mobile news, your one minute away from traffic and weather. It's four oh four huge savings on new and previously lease furnishings. That's right. Huge savings. Court.

Brown Brian Bosma Eric Berman WIBC Lloyd Winneke Congressional Budget Office Mike speedy Evansville crossville Indianapolis lily king Michigan Representative congressman Jim Bank Bill Indiana
"congressional budget office" Discussed on 790 KABC

790 KABC

02:23 min | 3 years ago

"congressional budget office" Discussed on 790 KABC

"We care the most about i mean guys like you and get you and the or uh you know we're important to the economy at least we think we are uh we're not the future and uh getting people who were in the twenty five to thirty four year old doug group is really the important aspect of creating an environment for the labour market that's going to last into into years and decades i'm this i'm quite surprised at how rapidly corporations have responded to the to the tax bill as talking our friend dug holds egan yet to our audience uh republican adviser former director of the congressional budget office you know he's a conservatively and calmness is no crazy guy he's a numbers guy anyway dougie was sang uh with respect to repatriation and other aspects of the bill the lower tax rate for example 100 percent spending the test is will it be put into use quickly or not and the thing that amazes me i've been around a while so of you i've never seen a response so fast and deep to attach gut even the reagan tax cut so to me the early returns are a resounding yes this must have been a good bill because all these companies are using it they are i i'm not sure if the repatriation aspect of it i you know the b again we've had experience uh with repatriation in the past and repatriation can have a very strong effect when you have tight capital markets where firms are starved for money uh that's less the case right now so you know obviously it's going to be a positive effect but i don't see the repatriation aspect of it is being the the key ingredient to me the key ingredient is simply the fact that you've raised the return to capitol which makes it more profitable to invest in the united states irrespective of whether that was apple sitting overseas before whether it's sitting here whether it's people who were consuming and now say it's better to invest to save and invest uh or whether it's a german who was thinking about investing in zeman's now he says i'm an invest in g e so all of those things have been working in a positive direction i think that the point coming back eat what you just said though about how it's it's operated so quickly.

capital markets united states zeman egan director of the congressional reagan apple thirty four year 100 percent
"congressional budget office" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

02:02 min | 3 years ago

"congressional budget office" Discussed on WNYC 93.9 FM

"And he wasn't under oath although legal experts point out it's still a crime to lie to congress democrat joe manchin who sits on the senate intelligence committee suggested kushner's meeting today with committee staffers is just the beginning not the end of their interactions with a deuce preliminary type thing they go through the the nuts and bolts if you will and then we set the parameters how we're going to go through the appearances in cevers questions bs then at the white house kushner downplayed the russia question and defended his fatherinlaw's electoral win donald trump had a better message and ran a smarter campaign and that is why he one suggesting otherwise ridicules those who voted for him jared kushner is set to meet with lawmakers on the house intelligence committee tomorrow jeff bennett npr news the capital there are just eight former directors of the congressional budget office on friday all of them signed a letter to leaders of congress we right to express our strong objection to recent tax on the integrity and professionalism of the agency and on the agency's role in legislative process that douglas hold sekine who served as the director of the congressional budget office from two thousand three to two thousand five he's a republican and is now head of the american action forum a centreright policy institute which at issue here is how the congressional budget office has scored republican health care bill is how it estimates how many people would be left uninsured and how much it would cost the government a dugout taken why did you and your fellow past cbo directors choose to write this letter now what worries you it's fine in my view to disagree with the cbo on the substance it's of a score on the research that goes behind how people choose their health insurance policies or the likely pace of medical inflation it's not ok in my view to attack the professionalism the integrity and the mission of the cbo and in recent weeks we've seen this kind of his tax without it was time to simply say it's unacceptable the congressional budget office a began a nineteen 75 and president trump's budget director he's part of the.

joe manchin senate intelligence committee jared kushner congress cbo budget director russia donald trump the house jeff bennett douglas director of the congressional health insurance president
"congressional budget office" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:39 min | 3 years ago

"congressional budget office" Discussed on Bloomberg Radio New York

"The congressional budget office study that only fourteen analysis after that one that prominent one right there and and and one of several uh including listen of that was with at least according to the the fourth the conclusion of that's that the boost to them in a new minimum wage the they said ten dollars and ten cents an hour from as you describe seven and a quarter i found that the boost would increase the earnings of millions of workers by a total of thirty one billion dollars but is demonstrated it would also reduce employment by hundreds of thousands of jobs and that less than one dollar in every five of that thirty one billion would actually go to households living in poverty so the la riots tradeoff seino's a is interesting comment there that exactly right i take it i think that that that i think i think she got it right at him the adding that basically what happens when you increase the minimum wage and nontrivial amount uh you're not really helping the poor you're putting a lotta people out of work but you know for the bulk to keep their job you're you're put more money in their pocket that basically the trade off is so so so we'll be and in clear now you know in addition to the analysis that the congressional budget office put out in addition to analysis from economists state and federal minimum wage increases we now have a really solid evidence of what happ and when a city tried to increase its minimum wage by a really significant amount and so the question is uh you know around the country uh in other cities when city council get together to think about whether they should raise the minimum wage is whether the evidence out of seattle will will make them stricter hasn't been placed want to thank you very much for.

happ seattle la thirty one billion dollars ten dollars one dollar