welcome back to "face the nation." we want to continue our conversation with california i apologizorwa pick up where we off. you are now finishing up this lame duck session before you move into this leadership role. we are seeing the focus really just being on keeping the government funded. as part of that, will you be able to put in the hundreds of millions of dollars that so many mayors are asking for to shore up border security in the next few weeks? you're from california. i saw a number of california mayors wrote this letter this past week. >> i'm not familiar with the letter. i'm a member of the homeland

security appropriations committee, i can tell you these are conversations we continue to have with our republican colleagues each and every year as part of the regular order of the appropriations process. the number one goal is to fund government. we to rely on reasonable republicans to help us do that because so much is at stake. in your segment earlier, mike turner talked about the ukraine funding. i appreciate his willingness to meet us and talk about the importance of ukraine funding, but there are so many republicans who are tied to this extremism who are talking about putting restrictions on ukrainian aid. we can't have that. that's the reason we have to have reasonable budgets and an important point why we have to have this time right now, we need government funding and we look forward to working with republicans to get that done. >> the specific respect for $550 million for fema because of the concern of title 42 lifting at

the end of this month. >> we need to make sure everything we can to make sure our border communities are taken care of. we had to do that previously, and we appreciate the administration and homeland security doing everything they can to give humanitarian aids and grants to those communities to make sure that they could deal with those effects. it's important for us. there are so many ways we can be helpful. and on the heels of the trump administration separating children from parents, we appreciate the biden administration coming in and being so thoughtful about how they do this, but it's going to be a process. we look forward to working with our local government and state allies to do it. >> also in the lame duck you are continuing to serve on this january 6th committee, which is coming to an end at the end of the month. your colleague zoe lofgren was on the program a few weeks ago and she said all the evidence for good or ill will be out within the month. when, how, when will we know

we've come to a conclusion? >> i'm not going to get in front of zoe lofgren, but benny thompson, vice chair liz cheney, we are going to put out a fulsome report to talk about the facts and circumstances of january 6th and zoe lofgren has talked about, and adam kinzinger, there are important things we learned along the way of january 6th we feel should be shared with the american public. we're going to do that. we're going to do it in a thoughtful way. members are working each and every day, editing the documents we will be putting out in accordance with house rules. we are preserving the important documents and we'll be transparent about this process. the american public will see a full report. >> okay. will the justice department get all the underlying documents merrick garland said at a press conference that they would like to get ahold of your evidence? >> we look forward to the department of justice and the american public seeing all of the work we have done.

that includes transcripts and documents. >> when? >> soon. very soon, margaret. i think in the next couple weeks, but clearly our committee ends on january 2nd. so, we're going to do this this month and put this information out. >> do you personally believe that at this point there is enough evidence to send a criminal referral to the justice department regarding the former president? >> i'm not going to get ahead of what our report may or may not say. >> congressman schiff and cheney have said that. you're not, sir? >> i think that the evidence is pretty clear. i think we laid out a case to the american public, who is responsible, who is primarily responsible for whipping up that crowd, sending them to the capitol, and people's lives being endangered and capitol police officers losing their lives. i know it's pretty clear based on the evidence, based on the hearings that we've done, who was responsible. but right now we're to the point, we have a couple weeks remaining here, and we're going

to have more to say, the committee will have more to say on this through our documents and through our public releases, so i don't want to get ahead of that. >> the possibly incoming speaker of the house, kevin mccarthy, has vowed to hold hearings about why the capitol complex wasn't secure on january 6th. he has faulted your committee for not focusing enough on this. how do you respond to that question of why there isn't more of a focus on security breakdowns? >> if and when that individual becomes the possible speaker and can count the votes to get there, i have my doubts, look, we stand willing for anybody to stand the test ■oftimeand to look at the history of the documents of what we've put forward. but we are talking about security. we are talking about what happened that day. i think that what's happening is kevin mccarthy has to do anything he can to appease the maga extremists within his party. he's trying to count to 218. if that means sending subpoenas to committee members, being

tough on committee members, that's what he has to do because he's practically auctioning off real estate in the capitol in order to secure the votes. >> he's also one of the people your cttskedoome speak and share information. he has refused to do so. jim jordan also potentially in a leadership role has refused to do so. what consequences do you think there should be? should there be criminal referrals? i don't even know if you can do that. can you? >> no. that's not our intent. what we wanted to lay out to the american public is those individuals, jim jordan and kevin mccarthy are fact witnesses to the events that happened. they talked to the president multiple times on that day. there's information they can share. there's information they shared on national tv and to their own colleagues in that moment. the fact that they don't want to share it to us so we can put together a fulsome report just shows they aren't unbiased and so that's why there's a little smirk when you asked me about kevin mccarthy and january 6th. he's someone who hasn't been completely honest about what he knows and what happened that day.

>> congressman, congratulations on the historic achievement. i know you said it means a lot for your family and for people back home. and i do want to acknowledge being the first is a big deal. >> thank you so much. i appreciate it, margaret. >> thank you very much for joining us. we'll be right back with former attorney general eric holder. stay with us. general brigham -- when you need some of the brightest minds in medicine. this is a leading health s with five nationally ranked hospitals, including two world-renowned academic medical centers. in boston, where biotech innovates daily and our doctors teach at harvard medical school and the physicians doing the world-changing research are the ones providing care. ♪♪ there's only one mass general brigham.

if you haven't tried dawn powerwash dish spray, what are you waiting for? it's dawn's fastest and easiest way to clean everyday dishes. on simple messes... just spray, wipe and rinse. on tough messes, its spray activated suds have five times faster grease cleaning power to break down grease without water. plus, its targeted spray cleans even hard to reach places better. so, replace your dish soap with dawn powerwash and spray your dishes clean. hi, i'm darlene and i lost 40 pounds with golo in just eight months. i gained an enormous amount of weight due to a medication i was put on. when i started the golo plan and taking release, i was surprised at how easy it was for the weight to come off. i've never done anything better in my life. my moderate to severe plaque psoriasis... the burning, itching. the pain. emerge tremfyant®. with tremfya®, most people saw 90% clearer skin at 16 weeks. the majority of people saw 90% clearer skin even at 5 years.

serious allergic reactions may occur. tremfya® may increase your risk of infections and lower your ability to fight them. tell your doctor if you have an infection or symptoms or if you had a vaccine or plan to. emerge tremfyant®. with tremfya®... ask your doctor about tremfya® today. we turn now to former attorney general eric holder. he now heads up the national democratic redistricting committee and has a book which examines the current state of america's democracy. welcome back to the program. >> it's good to see you, margaret. >> i have a number of things i want to get to with you. i want to start on something i know is immediate this week. an organization that you run, that we mentioned here that focuses on redistricting, is involved in a supreme court case. moore versus harper. it's going to be heard on the 7th of this week. it boils down, as i understand

it, to the question of what the constitution means when it assigns state legislatures the task of regulating elections. that sounds really wonky but you phrased it as the future of democracy being at stake. what are you worried is actually going to happen here? >> yeah, this case is all about something called the independent state legislature doctrine. it's a fringe theory that north carolina republicans are trying to use to make sure that the north carolina republican legislature has the sole responsibility of doing redistricting in the state and excluding from that determination the state court system. it is something that if the supreme court goes along with it, would really up-end our system of checks and balances, and for that reason i am extremely concerned. it is a fringe theory. this is something that if the court, i think, does the right think, you should have a 9-0 opinion by the court that rejects this notion os independent state legislature doctrine that has been rejected

by conservative scholars, by practice renting lawyers, former republican lawyers and a conference of state supreme court justices as well. this is a very, very dangerous theory that would put our system of checks and balances at risk. >> there are a number of democratic senators who actually filed a brief urging the supreme court not even to hear the case. so there are some heavy hitters here saying, don't even talk about it. what does that tell you about the potential harm here? i mean, is there value in the supreme court hearing this and striking it down, or does them hearing it at all indicate something more to you? >> yeah, it's hard for me to see how this case was ever taken by the court. i think the better thing would have been for the court to simply have rejected it. now having taken the case, i would hope the court would drive a stake through this notion of this independent state legislature doctrine and get it off the books and out of our consideration once and for all. it truly is -- i cannot

emphasize this enough. it truly is a fridge theory that should result in a 9-0 rejection of the theory. >> so, we mentioned you're working on redistricting. democrats are suing to overturn congressional maps in alabama, florida, georgia, louisiana, ohio, and texas. i read a quote from you in "the washington post" that said the work you've been doing on redistricting has paid off in the most recent midterms. do you think your legal battles will help democrats make gains in 2024? what are you trying to say there? >> yeah, i think that what we have seen, there have been studies that said we have had the most fair redistricting process in the last 40 years as a result of the work we have done. 75% of the redistricting is considered to be fair, which also means 25% of it is unfair. that is still problematic. i think, for instance, the house of representatives is going to be in play for the entirety of

this decade. very contrary to what it was in the past decade where after the successful gerrymandering that occurred in 2011 and 2012, it was difficult for democrats to take the house back. i think the democrats will be able to take the house back as early as 2024, but it doesn't -- what we have done doesn't ensure the democrats will hold onto the house for the entire decade. it will be for the american people to decide. fairness will reign in that determination. >> when you were last on this program in may, you shared at the time that you had changed your mind recently, that you did believe that the justice department and attorney general merrick garland, should hold former president trump accountable for his actions. you previously thought it would be too divisive for the country. now where we are with this special counsel, what is your assessment and how should merrick garland, who has to ultimately decide, weigh the question of a risk to political

violence in this country from any decision he makes regarding the former president? >> i think the attorney general has said it quite well, he'll make the determination without fear or favor. there is -- everybody has to tb held accountable to the same system. the determination that he's going to have to make will have to be based on the facts and the law. we'll just have to deal with the consequences. the reality is that if he makes a determination one way or the other, it will be divisive. the best thing is simply to make sure everybody who is under consideration for possible criminal treatment, including the former president, is treated just like every other american. that's what that opinion out of the circuit court this week essentially said. that you can't craft things, as district court judge, you can't craft things for a former president that doesn't exist for regular american citizens. treat everybody in the same way, make the determination based on the facts and the law, and the united states, i think, has the capacity to absorb a possible

indictment and to deal with it fairly and to get on with the business of the country. >> as someone who's been an attorney general, i wonder as well how you think about the case before the u.s. district attorney in delaware regarding president biden's son hunter. cbs has reported the fbi has sufficient evidence to charge him with tax and gun-related crimes. how would you handle this? please deal? is the attorney general boxed in to take a hard line decision because of working for the. the? >> no. they left in place the republican -- the trump-appointed u.s. attorney in delaware to consider the case. you've got career lawyers working on, career fbi agents. you want to listen to their recommendations. again, make a determination base on the facts and the law. the defendant should not be treated any more harshly because of who he is, who he is related to, or given breaks because of

who he is or who he is related to. he should be treated, just like former president trump, should be treated just like any other american citizen. if there's culpability, that person should be held liable for his or her acts. if there's not a basis for a case, a case should not be brought. >> it will ultimately come to the attorney general's desk. >> that's certainly the way i would run the justice department. my guess is also that that would be something merrick garland will be doing as well. that determination will be made, i suspect, in washington, d.c. >> all right. general holder, thank you for your time today. we'll be right back with much more "face the nation."

we turn now to the economy and the mixed signals about its future. brian moynihan is the ceo and chairman of the board of bank of america, and it'ssood to be bac. it's been a couple years. last time was right when the pandemic started. >> i know. i know. and i remember what a chilling moment that was. and yet we are still living through the implications of that pandemic. your firm is predicting a

recession in 2023, but a brief and a mild one. i wonder when it hits and what a mild recession feels like for the average american. >> just to sort of be concrete on numbers, they basically picked negative growth around 1% or so for the next -- for the first three quarters of '23, and then comes back to positive growth. that means the year is negative overall, but it's just 1%. you think about a recession, we were sitting here, we went down 30% that next quarter and stuff. this is a more mild recession because down the line activity is still strong. that's the tension and the fed trying to cool down inflation at the same time not drive the economy into a deep recession. >> but when people hear recession, it affects their planning for the future, it affects their feeling of security in the jobs they have. just this past week, we saw a string of job cuts being announced at tech companies, at media companies. is this the beginning of a wave? >> this is what happens. when you raise interest rates,

you know, the fed is trying to slow down economic activity. where does it slow down first? most rate sensitive, houses, cars, prices go up, although sales have stayed strong of new cars because they weren't there and now have become available, but used car prices have tipped back down. what takes longer to happen is the final demand for entertainment, for hotels, for travel is still very strong. so, if you look at spending and our customers, the month of november was about 5% over last year. if you go back and think early in the year it was running 10%, 12%. what's happened is consumers have slowed down their spending. they still have money in their accounts. it's started to come down a little bit. they still have borrowing capacity but they started to use it. all it means is fed rate hikes are slowing down the economy. the question is, when will inflation come down and back off. we've gone from what's temporary -- inflation temporary last year's discussion to it's real. now the question is, how long will they have to hold rates here, how long will they have to

hold rates at this level to get the inflation down without hopefully hurting the economy. you're seeing the signs in terms of job openings decline, you're seeing the turnover slowing down at companies. while those may not be good signs for the individual involved, it's good for the economy to get into a better situation it can grow at a more normalized rate. >> you're fairly characterizing all the different pieces here, but you do sound more optimistic than any of your peers, even those who are predicting a recession, like jpmorgan. they famously -- their strategist said a category 1 economic hurricane is on the horizon. what would move you from mild to gale force winds? how do we -- what changes things along the way? >> well, the belief was when the fed started raising rates there would be an immediate snap to the economy. those predictions were from the spring of this year '22.

what didn't happen because the skurmsdz remained strong and stimulus in the economy is so high, it didn't happen. unemployment is 3.7. they just had 300,000 jobs. how could you have an unemployment-less recession? that's almost impossible to imagine. if you looked where all of the guests you had on this morning talked about trades of horrible, the russia/ukraine situation, things going on with china. all those would change the outlook. if they stay status quo, it doesn't solve or get worse. oil prices stay around $100 a barrel. they were there for five years, between 2005 and 2010. things going in a wrong direction, you would see a massive change in the economic activity. that's what people are trying to hamstring. in the base projections most people have, the wall street firms and stuff, it's all pretty similar. a shallow recession with recovery later. rates stay higher for a longer period of time, meaning until

the end of '24 because inflation is harder to choke off because there's underlying cash in the system. where does the cash come from? the government gave stimulus. the government has high -- >> that's one of your worries for 2023? >> all business people don't like surprises. we would like to make sure we got through a normal budget process and a normal debt ceiling process. >> but you're not confident about that because of the -- >> i've had some interesting times, but gener iorks out. i have confidence of people come to the table, there will be a lot of discussion, you talked about with your guests, but ultimately has to get there. we have 300 million people the world depends on. >> the economy and the market, not the same thing, but the political -- the adage was political gridlock is good for the markets. that's the way it used to be. i wonder if the environment is different now. your strategist also said they're bearish. they worry unemployment in 2023

will be as shocking to main street consumer sentiment as inflation was in 2022. so, how do you recommend to clients they protect themselves if we're going to see the markets possibly take a downturn? >> unemployment our team predicts it gets up to 5%, that is 150 million odd workers. that's where it was two years before, '17, '18. we didn't feel horrible then. it's just a change where people lose their jobs. that's a horrible thing to contemplate. that's what they'reworried about. the compounding of worried about having a job and losing your job changes consumer behavio and we're seeing that go on a little bit. the fed has to create that nervousness to help tip inflation back down. wage growth is strong, which is a good thing, also strong means they have to slow it down to match otherwise we'll have wage inflation spiral. all that comes together. as you think about it, think about next year is really

important to see the mitigating impact of these things. the employment market is less tight, continues to get less tight. therefore, wage growth slows down. therefore, inflation will slow down. if that doesn't happen, the fed has to go a lot higher. economists think they should. if not, they can hold there and let the system catch up. >> why are savings yields so much lower than where the inflation rate is? why aren't people making more money on their savings? >> there's a lag effect in change of rates and prices and everything. they'll keep coming up and each month they'll come up as people pay higher rates to retain the funds. the big difference between the last time we went through a rate-hiking cycle and now is the companies -- baction have a lot. ev gng i 2020, they helped clients. they're very strong. there will be more conservative recovery to 15 years, low rate environment where they

underearn. but ultimately they'll come to reach more equilequilibrium. >> thank you for your time. we'll have more on the forecast next week with jamie dimon, the chairman and ceo of jpmorgan chase. we'll be back in a moment. ingredients, and fermentation. ' innoc fermentation? yes. formulated to help you body really truly absorb the natural goodness. new chapter. wellness, well done. for adults with generalized myasthenia gravis who are positive for acetylcholine receptor antibodies, it may feel like the world is moving without you. but the picture is changing, with vyvgart. in a clinical trial, participants achieved improved daily abilities with vyvgart added to their current treatment. and vyvgart helped clinical trial participants achieve reduced muscle weakness. vyvgart may increase the risk of infection. in a clinical study, the most common infections

tell your doctor if you a hiory of infections or if you have symptoms of an infection. vyvgart can cause allergic reactions. the most common side effects include respiratory tract infection, headache, and urinary tract infection. picture your life in motion with vyvgart. a treatment designed using a fragment of an antibody. ask your neurologist if vyvgart could be right for you. a dental tool is round for a reason. so is an oral-b. round cleans better by surrounding each tooth. so clean, you'll feel like you just left the dentist. oral-b. brush like a pro. ♪♪ jim mansfield: my job was more important to me than my family, and i started drinking a lot, staying out of town. orit took a toll on me.o. dr. charles stanley: you may be as low as the prodigal,

but you are not hopelessly, helplessly lost if you will listen to what i'm about to say. jim: sitting on that couch, watching that sermon, something had happened to us. i'm talking about the joy and love in our hearts. i want more of that. if you can't watch the full "face the nation," set your dvr, plus you can watch through our cbs or paramount plus app. thank you all for watching. for "face the nation," i'm margaret brennan. "60 minutes" was invited to paris to speak to french president macron about the

this is the "cbs overnight news." >> good evening and thanks for joining us tonight. the state of georgia is once again at the center of a pivotal battle in american politics. it's where the last undecided senate race of the midterm elections will be determined. in a runoff between incumbent democrat raphael warnock and republican challenger herschel walker. right now more than 1.8 million ballots have already been cast in early voting. tonight cbs' nikole killion is back on the campaign trail in athens, georgia, with more on what this race means for the u.s. senate. good evening. >> reporter: good evening,