that's 30% of the $4 trillion federal budget.op of a $700 billion hole during the current fiscal year. a lot of money involved here. the thing about deficits is they commonly grow during times of a weak economy, but these deficits are occurring during the second largest economic expansion in the nation's history. >> so it's like having a credit card bill, you pay it down, but it sometimes balloons way too big and you usually don't have that big of a deficit when you're making more money. so talk to us about how this affects the economy in the long run. >> okay. look, it sounds good in theory this whole idea about credit cards, we all use them, but the more credit card debt grows the the more having along the way to pay it off. national debt is now growing at a record rate and that means record amounts of the federal budget set aside for interest payments and that means less money available downstream for federal spending it. it also meaning higher interest rates which could affect your credit card bills to fansing a car or home.

one-third of the federal budget is discretionary spending. out of that one-third comes the military and it's about 50% of the one-third. all i can say is that i want to applaud senator mcconnell and senator schumer for reaching an agreement. the nondefense spending is about 160 something billion. what does that mean? it helps the f.b.i. the f.b.i. without this infusion of cash will have less agents in 2018 than we did in 2013. now, they're on the front line of defending the nation as much as anybody else. the department of homeland security, the c.i.a., the national security administration, the c.i.a., all of these nondefense agencies have a defense role and they'll benefit from this budget agreement. sequestration did not get us out of debt. fixing sequestration is not going to add to the debt in any serious way. every republican voted for the tax cuts because we believe that the $1.5 trillion will be made up by economic growth and then some. i think we're more right than wrong about that. when it comes to defense spending, republicans and

budget, which is the programs are medicare, social security and medicade, are over 50% of the federal budgetnow. ordinary americans can be forgiven for not quite understanding how this budget stuff works. but the reality, what you can propose in a budget like what the president put forward to cut is all the other programs that congress has discretion over. we don't have a choice about the entitlement programs. we are obligated to spend every year in accordance with the law. the only way to change the spending is to change the law. >> dana: things you want to spend on get smaller and smaller if you don't deal with the rest. >> yeah. by making the deficit larger, what we're doing is really kicking the can down the road, to use a familiar and overused expression, to our children. it used to be that when congress would have debates about how much money to spend, if they were going to raise taxes or cut programs, the people that elected them were bearing that burden. today, by not dealing with entitlements, we're actually spending money at the expense of our kids and grand kids. the aarp is a ver

india's latest federal budget has drawn criticism from luxury carmakers. they feel singled out for extra taxes they say are unfair. and on the markets, japan's nikkei is closed today for a public holiday. the dow ended up. the all ordinaries is down and the hang seng is up slightly as the asian markets try to a semblance of calm. it's been a week sincejerome powell took over as chairman of the us federal reserve — a week in which global stock markets have plunged. here's why — investors are worried that, because the us economy is doing better than expected, the fed will probably raise the cost of borrowing faster. the bank of england has also given support to the idea that rates globally will rise. this end to so—called ‘cheap money‘ will push up borrowing costs for companies and individuals, which can hurt corporate profits and curb economic activity. also worrying investors is a government budget proposal announced by us lawmakers which raises spending caps and could fan inflation. with me is lena komileva, chief economist at (g+) economics. welcome, goo

this hearing focuses on the agency's federal budgeting process for cost estimates, scoring, and baseline construction. >> the hearing will come to order. welcome to the committee and the budgetary on the congressional budget office baseline scoring. this is the second of five hearings the committee plans to hold the spring on oversight of the congressional budget office. e as we discussed, cbo was created more than 40 years ago as part of the congressional budget and since then they been a vital support agency that provides nonpartisan budget analysis and the hearings are intended to help us learn more about how the agencies carries out mandates of supporting congress and the federal budgeting process and to consider areas in which the agency can improve. cbo has not undergone a comprehensive review since it was founded. the demands have changed since 1974. we want to make sure the agency has what it needs to fulfill its mission in the 21st century. last week during the hearing with the director doctor keith hall, we looked at the organizational and operational structure including staffi

approved a spending bill ending the government shutdown the house of representatives passed a new federal budget which must now be signed by president to the. earlier the senate missed a deadline to pass the legislation which resulted in the second shutdown in just three weeks was blocked by a senator from republican party who opposed the budget deficit so let's get more on this now we're joined by white house correspondent. she is live for us and washington d.c. so it has not been easy but the legislation has been passed one of both sides getting. both sides are getting a lot of money that's what both sides are getting and that's where the contrary controversy was and that's why this government shutdown occurred because there was one lone senator rand paul from kentucky who said to his fellow republicans we are usually the party that restrain spending but in this case you have a pretty good example of what happens when one party is in control of congress as well as the white house there is simply no restraint and everybody gets what they want and that's certainly what's happened here to avert a

a series of discussions on the federal budget process. participants including members of the senate budget committee, journalists and professors. this is live coverage on c-span 3. it should start in just a moment here. >>> again, we are live this afternoon for a discussion on the federal budget process. this is hosted by the committee for a responsible federal budget. we have just gotten word that it should start here in about 30 seconds or so this is live coverage on c-span 3.

of discussion of the federal budget process.he chairs in making the result the house and senate budget committees, with coverage starts monday at 12:35 p.m. eastern on c-span3. tomorrow, commercial debbie attorney general rob rosenstein on cyber security in america's legal priorities. he speaks of the financial services the conference begins live monday at 4 p.m. eastern on c-span3. last week, reverend billy graham died. he will lie at the capitol rotunda on wednesday for the public to pay its respect. a memorial service will take lace with remarks from the house weaker, paul ryan -- house theker paul ryan, and senate majority leader, mitch mcconnell? = -- r: monday, we look at a supreme court case which solidified the government to take actions and restricted state powers. explored this ruling with the university of virginia law professor farah peterson. watch landmark cases live monday at 9:00 eastern on the season and, c-span.org or listen on the freeze is span radio app. c-span radio app. and, for an additional resource, the

. ♪ >>> today, the committee for responsible federal budget hosts a series of discussions on the federalprocess, participants include chairs and ranking members of the house and senate budget committees. live coverage 12:35 p.m. eastern on cspan3. >>> tonight on cspan's landmark cases, a look at the case mccullough v maryland, that solidified the government's ability to take actions not explicitly listed in the constitution and state action against legitimate use of the power. explore this case and the ruling with university of virginia associate law professor. watch landmark cases live at 9:00 p.m. eastern on cspan, cspan.org or listen with the free cspan radio app. for background on each case, order a copy of the landmark cases book. for an additional resource,

this is three hours. >> by when the committee for responsible federal budget and it is not everyday that yo evere an overflow crowd on the budget process so we are excited to have you here. we have a c-span audience, live streaming soap wonderful to have everybody joining us for what they think wilwethink will be at conversation. i'm excited about the people we've gathered and the ideas we are going to be discussing. welcome to the committee for responsible budget for thostherf you who do not know if they nonpartisan organization the board of directors or people many of whom are with us today who have run all the big-budget institutions in washington so the federal reserve, the treasury department, omb, the budget committees comes of a. to try to have a realistic understanding of the budget improvements are going to be needed to improve the fiscal situation in the country and to trick yo to have in a bipartisan way it kind of understanding of how hard it is to make these traces but there are so many reasons they are necessary to keep moving the ball forward. with that said i will say it

. >>> today, the committee for responsible federal budget hosts a series of discussions on the federal budget process. participants include chairs and ranking members of house and senate budget committees. live coverage at 12:35 p.m. eastern on cspan3. >>> this week on the communicators. >> i thought the internet was borderless? >> that's really interesting. it can be borderless but what we've seen and the thing we need to focus on right now is it turns out that this medium we thought gave voice to the voiceless and in many cases did and power to the powerless can also be used by dictators, by terrorists, by dark political money to undermine democracy and we have got to address that problem. >> from the state of the net conference held in washington, d.c., we discuss the impact of technology on democracy and voting. watch tonight at 8:00 p.m.

we see that the president's budget each year marks the beginning of the federal budgeting process or budget season as we like to call it, and the white house officially kicked it off on monday. while congress ultimately controls the purse strings, the president's budget request is still an important document for lawmakers to consider along the way. each fiscal year the administration's budget documents documents the president's policy and spending priority. these are important for both changes to consider as work crafting the budget resolution begins in earnest. without question there are plenty of worth while ideas included in the president's budget this year. first, i'm encouraged that the administration prioritizes and boosts the investment in our national defense. with mounting threats to our security both at home and abroad, it is critical that we provide for a strong and capable military. we must ensure our war fighters have the necessary resources and training to complete the missions with which they are tasked today and those with which they will be tasked in the future. i'm a

federal government contribution. money or trye save to control the cost, it is not budget, it our state is also about managing the federal investment of dollars, important to us. host: richard in springdale, arkansas, this morning. are on with your governor, asa hutchinson. sir, governor. you know, i live in a fifth-wheel trailer, i got laid years ago.e 63 and on social security. i have two questions for you. number one, why are we still paying grocery tax on something have to have to live? personal property tax, i have a vehicle, i will never own it as long as i live the state of arkansas, taxed.e it will always be i will never actually own that vehicle. know, you guys are taxing us to death and bragging surplus.a host: governor hutchinson? governor: well, first of all, on grocery tax. items,e a 6% sales tax on the grocery tax has been reduced is 1-8th of ak it cent sales tax, the final rigger or something like that, mandated because that goes into and other d fish priority needs that are set by the constitution. been reducedax has significantly under previous administrations and continued to reduced. in terms of taxes,

the infrastructure package and the proposed federal budget. i won't go into a lot of details. to give you a high level view of the infrastructure package, it was proposed 1 trillion-dollar package of which $200 billion would be direct federal funds, although a funding source was not identified. the idea is those federal funds would leverage the remaining 1.3 trillion from private sector investment. there are some -- the range of infrastructure projects is not just transportation, it could be for the energy sector i it could be the hospital sector, the technology sector. it's very broad based. it does make some specific proposals in terms of how funding would change or how the rules would change. such as changing the amount of federal share such as requiring value capture financing as a condition of receiving funds from the capital investment grant program, though in the other budget, proposed to cut the capital investment grant program. as a bunch of environmental review streamlining, but basically doesn't address the larger funding issue of the highway trust fund which is you

reporter: some of the criticism is it puts too much of a burden on states financially because the federal budget is 14% and people might pay more taxes and more tolls, what do you say to that? the secretary: federal money is not free. federal money comes from our communities, taxpayers and our communities. they take that money, send it to washington and we decide how to use it and send it back to communities with a lot of strings attached on what they need to do. so what we are trying to do is o recognize the states and localities, communities understand best what their infrastructure needs are and to allow them to have much greater flexibility to decide their own projects, in con junction and in partnership with the federal government. reporter: one of the criticisms of the plans it doesn't address he highway trust fund. can you say why that wasn't in the president's broader infrastructure plan and what does the administration plan to do with that important funding? the secretary: the highway trust fund needs to be addressed because every year more money goes out of it than receipts are receive

the committee for responsible federal budget for those of you who do not know is a non-partisan organization, the board of directors are people who many of whom are here with us today who have run all the big budget institutions in washington, so the federal reserve, the treasury department, omb, cbo, the budget committees. so they are the whose who of the budgeting world. one of the things that we like to do is work with folks on the hill as well as around the country in budget experts, but to try to realistic understand what kind of budget improvements are going to be needed to improve the fiscal situation in the country and to try to have in a bipartisan way and a kind of understanding how hard it is to make hard choices but there are so many reasons that they are necessary way, keep moving the ball forward. that said, i will say it is a rough time for budget policy in this country. nobody should be under the impression that the fiscal health of the country is good. it is not. our debt relative to the economy is twice what it's been on average. we are on track to borrow it used to be $10

nation and our american in every way but on paper palosi was speaking out against the compromise federal budget deal announced by senate leaders it doesn't protect the so-called dreamers from deportation the undocumented immigrants who came to the u.s. this children senate leaders admit the budget deal isn't perfect but say it will avert a fast approaching government shutdown this bill is the product of extensive negotiations among congressional leaders and the white house. no one would suggest it is perfect but we work hard to find common ground and stay focused on sure the american people the budget deal doesn't have everything democrats want it doesn't have everything republicans want but it has a great deal of what the american people the budget deal if approved will lift cap so military and domestic spending but first it must get through the house of representatives and this opposition from both republicans and democrats this will probably pass the senate but in the house it's meeting with opposition from a lot of very conservative republicans who are deficit hawks and object to the fact t

as you know, the president put forth his budget this week, a budget supposed to be, our federal budget is supposed to be a statement of our national values. what is important to us as a country is supposed to be reflected in how we allocate our resources. to make our future brighter for our children, to keep our people safe, both globally and locally d personally, how we again create jobs for the 21st century, reduce the deficit, lower taxes, really low every taxes. so again, as i've said before, there's a dark cloud hanging over this congress, that's called the g.o.p. tax scam. tax bill that gives 83% of its benefits to the top 1%, where 86 million middle class families -- 86 million middle class families will be paying more in taxes. that increases the deficit now, mulvaney has even admitted yesterday that it's going to cost the taxpayer more. we're going to go deeper into debt. he said $1. trillion with interest, that's over $2 trillion, the number they've been using all along, admitting that. and so we've given a big tax break to corporate america and now what was so obvious and wh

senate and house of representatives are expected to vote on the federal budget on thursday to of us a fast approaching government shutdown so what he facing opposition from some congressman and the political uncertainty is having an effect on american stocks u.s. markets have experienced another day of volatility the dow jones dropping a thousand points gabbett on his own small make no mistake about it this was a huge stocks plunge the big question is what's causing it now there are a whole host of reasons but most economists and traders are pointing to three key things number one concerns over rising deficit spending the federal budget that's being negotiated right now in washington is expected to add at least three hundred billion dollars in deficit spending over the next two years add that with one point five trillion in deficit spending for the new taxed overhaul plan that trump and the republicans pushed through late last year and you're seeing these huge amounts of money that is added to the deficit and that is really concerning wall street the second reason is inflationary conc

but they have come together for a series of proposals to help fix the federal budget process and hope to vastly improve how the government needs to function to create a budgets every year. i think what makes the group unique is not just its political diversity, but also the fact that these are not just the normal budget wants i wants to t they are people representing real interest for affected by the dysfunction in the budget and the budget process and while they don't agree much on the merits of what it ought to look like, they are all in agreement that the budget process needs to be fixed and that's where they've come together and powerfully to present ideas in a very timely way. the other thing that i think makes this report uniquely valuable is that we had to work really hard. it wasn't so easy to build trust, but there were real differences and concerns about whether we would create budget process reforms that might tilt one way or another to those that are concerned about the levels of spending or those that don't feel we are bringing us int into this within the needs of some co

with that in mind, we're talking about adding to the federal budget, to the defense side of the budget essentially 195 billion dollars over two years. 80, 85 and then some other things. . >> it's 165, not-- before you count-- 80, 80 billion dollars in 18, 19, 165 billion and a lot of it depends on the years, that's a rough estimate, yes, sir. >> plus or minus, we'll say, 195 billion. a huge increase in what we're spending on defense, absolutely a huge amount of increase and you've already mentioned until january, the pentagon's never been audited and they've begun an audit, just in the initial stages they have discovered billions of dollars that they can't account for and my question is with an increase like that which amounts to a 14% increase overall in the defense budget, close enough for government work, that we've done this, and i know the -- the defense committee, the armed services committee meets and they do an authoritization bill and so forth. has the administration really dug into the question of what this military needs and what our missions are? because as i recall during

senate majority leader mitch mcconnell and senate minority leader chuck schumer announcer to your federal budget agreement. the deal increases defense and non-defense spending over the next two years. it lives the debt ceiling until 2019 and adds funding for medical research, cleaning health centers and hurricane disaster relief. the two leaders spoke about the agreement on the senate floor. m >> i'm pleased to announce that our bipartisan negotiations on defense spending and other priorities have yielded a significant agreement. i want to thank my friends in democratic leader for joining me this afternoon and for the productive discussions that have generated this proposal. the compromise we've reached will ensure that for the first time in years our armed forces will have more of the resources they need to keep america safe. it will help us serve the veterans who bravely served us and it will ensure funding for important efforts such as disaster lit relief, infrastructure and building on our work to fight opioid abuse and drug addiction. this bill is the product of extensive negotiations among

>>chris: i sympathize with you because you were writing a federal budget. that accommodated thing. it was going to be released tomorrow and now on friday, the president signs a bill that asks for hundred billion dollars of spending over two years. will this new budget that you really smart reflect what congress has just passed and the presidentjust signed? >> this may be the most competent budget anyone will ever do. what we're doing tomorrow is an update to our 2018 budget , which we released in spring to bring it in line with the spending deal that was passed last week. it's also going to beupdating our 2019 budget, we start doing that last september to also bring it in line . the 2018 and 2019 budget. it's been a very busy week at omb. you don't have to spend all of this money.these are spending caps. you don't have to spend all that. we will show how you can run the government withoutspending all of that . that will be our 2019 budget. but if you're going to spend it which is what we think on with will do, here's how you should spend and that will be our 2018 budget.take the mon

a series of discussions on the federal budget process. participants include chairs and ranking members of house and senate budget committees. live coverage at 12:35 p.m. eastern on cspan3. >>> this week on the communicators. >> i thought the internet was borderless? >> that's really interesting. it can be borderless but what we've seen and the thing we need to focus on right now is it turns out that this medium we thought gave voice to the voiceless and in many cases did and power to the powerless can also be used by dictators, by terrorists, by dark political money to undermine democracy and we have got to address that problem. >> from the state of the net conference held in washington, d.c., we discuss the impact of technology on democracy and voting. watch tonight at 8:00 p.m. eastern on cspan2. >>> radio and tv host dana loesch was speaker thursday at the cpac conference last week. the gathering heard from national rifle association ceo wayne lapierre. their remarks are just under an hour. >>> good morning, cpac. good morning you guys

president donald trump assigned a billion to no increase in the federal budget and ending a brief government shutdown the senate and the house of representatives have previously passed the bill it will fund the government through march twenty third and increase overall spending limits over the next to the. rescue operations in taiwan have started to wind down after a devastating six point four magnitude earthquake rocked an area around the eastern city if while in this week the death toll now stands at dead with five people still missing. the reuters news agency says an investigation is the massacre of ten men by me and muscling has led to the detention of two if its report has one known and. awaiting trial on charges of illegal possession of state secrets while reporting on the ongoing crisis in the hine state. that opponents in the u.k. have launched a campaign aiming to persuade britons that a second referendum on membership is needed campaigners argue there should be a final vote on the deal. this time voters would know what a future outside that would actually look like but few people b

president donald trump has signed a bill into law increasing the federal budget and in a brief government shutdown the senate and the house of representatives have previously passed the bill it will fund the government through march twenty third and increase overall spending limits over the next two years i want to. brazil's world famous carnival has kicked off in rio de janeiro as the city's government palace the mayor handed the symbolic keys to the city to the fictional king momo lord of misrule for the next week cities around the country will host parades watched by millions of visitors. well brags that opponents of the u.k. have launched a campaign aiming to persuade britain's that a second referendum on e.u. membership is needed campaigners argue that there should be a final vote on the deal with brussels this time voters would know what a future outside of the e.u. would actually look like but few people believe that brags it can be stopped at this stage here's bear get mass our correspondent with the latest episode in our series road to break it. stephen grey is determined. determ

on c-span2, the senate will gavel in at 3:00, and on c-span three, a look at the federal budget process with members of the house and senate committees, at 12:35. >> c-span, where history unfolds daily. in 1979, c-span was created as a public service by america's cable television companies, and today we continue to bring you unfiltered coverage of congress, the white house, the supreme court, and public policy events in washington, d.c., and around the country. c-span is brought to you by your cable or satellite provider. >> the conservative political action conference met over the past several days outside of washington. mick mulvaney spoke to the group on saturday for about 15 minutes. [captions copyright national cable satellite corp. 2018] [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] >> i love that song. welcome to the jungle. good afternoon. all right. so full disclosure -- someone told me backstage about a certain pair of socks disturbed mulvaney is wearing. captain america. mulvaney: here

harmfulle provision that provides almost zero tax savings to the affects section of americans, federal budget but causes huge harm to homeowners like the ones in connecticut in western massachusetts. again, congressman neal, congressman larson, and myself have been working with the i.r.s. over the last 19 months to get this safe harbor for homeowners to be able to get the benefit of this provision. i want to thank the folks at i.r.s. and treasury for their ruling on tuesday that at least allowed another three-year window for people who are totally innocent victims who, because of the way insurance policies are structured, cannot in most instances, get property casualty loss coverage for this type of loss to at least be able to soften the blow with a deduction. mr. speaker, included in the bipartisan budget agreement which passed at 5:00 in the a ing last friday, was provision which again a provision which again did not receive a great deal of attention but actually will provide a great deal of relief. particularly for america's seniors. in particular it reduced and narrowed the size of the do

india's latest federal budget has drawn criticism from luxury carmakers.creased taxes for foreign automakers and that has affected global brands like audi, mercedes and others are doing business in india. our reporter speaks from their auto show. luxury cars on display in the world's third—largest auto market. and emerging young and growing middle class has attracted major global high—end auto brands to set up global high—end auto brands to set upa shop global high—end auto brands to set up a shop in india. but after doing so, with promises of tax incentives from the government, car manufacturers say the government backtracked on its plans when it announced a plan to hike tax on imported auto—parts. most global luxury brands in india import beer engine in different parts from their countries and assemble at here. they do that with a tax benefit promised earlier by the government. now that incentives is withdrawn and investment is in doubt. for this man, who heads germany in india —— ta rlee man, who heads germany in india —— tarlee in india, this is a blow

double than it is today, even more concerning, an article from the committee for responsible federal budget noted interest rates were one percentage rate higher than what is projected through the congressional budget office, national debt would be $1.7 trillion higher. can you please discuss the process to determine the 10 year interest rate. >> we think about that projection near-term and long-term. i think it is on. i have a green light. and the 10 year rate as short-term rates, 3-month interest rates over the near-term we pay close attention to what financial markets seem to be saying and for example look at the fed futures market, look at what the fed funds rate might be over the next several years, looking at what interest rates will be over the long-term less outside information, fewer private-sector forecasters thinking about long-term interest rates and information, financial markets, less useful, what interest rates should be over the next we 10 years or even longer. for that we think more about the various factors we think should have a strong influence on long-term interest rates

manus: president trump proposes budget,rillion federal favoring military spending and a mexican borderall. anna: south africa's ruling anc is said to tell the president to quit after he refuses a request to resign. ♪ welcome to the program, this is "bloomberg daybreak: europe." let's check in on the market action overnight. the msci asia-pacific is trading higher after we saw that strong session and united states. in the past two sessions, the biggest two-day increase in 18 months. 43%.s up 0. japanese markets big weighted down -- being weighed down. are also pointing down, so we need to be aware of that as we go through this morning's session. morgan stanley joining goldman sachs and jpmorgan and advising the dip.he dip -- buy the has been a substantial move, and one of the things in the mix seems to be the prime minister in japan speaking in parliament, talking about how they have a blank slate in choosing the governor of the bank of japan. reports suggested that governor kuroda would be tapped for another term. that could still happen, of course, but they're talking about a blank sl

another us government shutdown has begun — congress unable to agree a new federal budget.lates past pledges to rein in spending. and in business, global stock markets are plunging again. more than 1000 points wiped off the dow jones for the second time this week. now it is time look at the stories that are making the headlines in media across the world. we will start this with the straits times from singapore. it's marking the start of the winter games in south korea — and points out this is the first of three olympics in a row to take place in the region. 0nto the financial times now, it covers the japanese ambassador‘s warning that the uk risks losing big companies, like nissan and mitsubishi, if it doesn't keep access to eu markets after brexit. also, larry the downing street cat, didn't seem to like what he heard at least. he was beating a hasty retreat there. the times among many covering this story — it's a fertility breakthrough. human embryos grown for the first time in a lab — offering hopes to women struggling to have children. the new york post has another of th

president dollar trump just signed a bill into law increasing the federal budget and ending a brief government shutdown the senate and the house of representatives had previously passed the bill it would fund the government through march twenty third and increase spending limits over the next two years. risk your operations in taiwan have started to wind down after a devastating six point four magnitude earthquake rocked an area around the eastern city of wiley in this week the death toll now stands at twelve dead with five people still missing. brazil's world famous carnival has kicked off in rio de janeiro at the city's government palace the mayor handed the symbolic keys of the city to the fictional king mobile north of misrule for the next week cities around the country will host parades watched by millions of visitors. gregg's opponents in the u.k. have launched a campaign aimed to persuade britons that a second referendum on membership is needed campaigners argued they should be a final vote on the deal but brussels this time voters would know what a future outside the e.u. would actuall

monday treasury release the latest on the federal budget.e worried about inflation, so the cpi becomes all that much more important wednesday morning. the producer price index, another gauge. all in the week ahead. another big week for earnings. you have lowe's, cbs, campbell soup, cok coca-cola, all coming. joining me, stephanie m -- p oorks mboy from macro mavens. sunday morning my special guest will be devin nunes and newt gingrich. be sure to follow wall street on facebook, twitter and instagram. also let me know what you want to see on maria bartiromo's "wall street." i will see you next time. ♪ >> i'm bob massi. for 35 years, i've been practicing law and living in las vegas, ground zero for the american real-estate crisis. but it wasn't just vegas that was hit hard. lives were destroyed from coast to coast as the economy tanked. now it's a different story. the american dream is back. and nowhere is that more clear than the grand canyon state of arizona. so we headed from the strip to the desert to show you how to explore the new landsc

if we can get at the root cause of inflation, that helps the federal budget. the challenge is we have a 90% increase in retirement population and the% increase in the working population. combine that with the fact healthcare costs rise faster than inflation. so we have to fix healthcare. does that mean sacrifice your military in the meantime? no. it means build your military, grow your economy. the reason i was coming on here is to talk about how well tax reform is working. so we are going to see higher living standards, faster economic growth. but over the long term horizon we have to get the debt under control. we'll never get give up on entitlement. maria: we hope not, we realize that's where the crux of the spending it. we are shocked at you. people are saying this is the deficit hawk. this is the guy we have been counting on to come up with swliewtions for these programs. speaker paul ryan: john mccain said no instead of yes and we couldn't get the bill through. maria: i know he said no. >> announcer: paul ryan just passed his biggest piece of legislation

things that are good for health care tax reform bring down cost of health care that hesitate the federal budget, the challenge is, we got a 90% increase retirement population 19% increase working population we have a demographic challenge combine that with fact health care costs rise faster than inflation -- programs so we have to fix health care if willing to get away from debt crisis does that mean sacrifice your military meantime. >> no, it means, builted your military build military grow compromise i the reason coming on here talk about how well tax reform is working the bonuses occurring the faster economic growth capital expenditures higher living stands caution of tax reform, but over the long term horizon we've got to get this debt into control only way to do that entitlement tax reform that is why never going to give up on entitlement tax reform. >> we hope not a crux of the problem we realize growth in spending is. >> talking to speaker of the house or house already passed these bills the point i am trying to make. >> i am trying to make point we are shocked at you people saying this

. >> look at federal budget, state budget, they are an outline of your priority, find a way to fund it. there is waste in the budgets, they are fighting a good fight. bill: quick. it works in hong kong and tokyo. >> it is something we have to look 62. >> we should explore them, but you have to have everything to the table. bill: don't go, we have a lot more "chasing news" coming up, there is a solution being proposed for closing the l -train for 14 months, yep, how about a pontoon bridge. >> and a lawsuit involving the decision for a local town for not allowing commuter to take a shortcut through their town. >> we have one more day of heat, but cold weather is coming stay with me. bill: welcome back to "chasing news," i am bill spadea, we have more show, including's solution to the l -train closing for 15 months, how about this, a pontoon bridge. >> and a lawsuit to town of leona for stopping local commuters from getting to george washington bridge. but first, day two, this great spring weather. dan? tell us good news. >> oh, boy, changes in the air, we close out warmest stretch of wea