walk us through what has happened to 1st republican and how this takeover has unfolded. so as you mentioned, the problem with 1st republic was the same that we saw before with silicon valley bank and signature bank. so exposure to low interest rates loans, a lot of uninsured deposits. and this is some, somehow a final ripple of what we've seen happening already. in march, the bank was in trouble already for a while back in march. other banks tried to pump in liquidity and confidence by putting deposits into the bank that didn't really work. and especially the tipping point was last week. when on monday, the financial results for 1st national bank 1st republic, sorry, bank came out, and it was clear that they were bet. so they lost more than a 100000000000 deposits in the last 3 months. and the net income was down 40 percent like the numbers that clearly would put any bank in a spiral. now 1st of all, because already in trouble, the f d i see. so the entity and the u. s. that will take care of this problems, came in very quickly during the week and over the weekend, then t

under a new ne, the pressure on america's biggest regional bank just became too much a run on 1st republican march shook the company at a time when other lenders were collapsing. but the final straw came when 1st republic share price collapsed, as investors found out the true scale of the damage their verdict, the lender was on borrowed time. customers took out billions of dollars towards the end of last year. it had almost a 180000000000 on its books that fell to just over a 100. by march, the bank was simply no longer viable. it's part of a wave to hit big banks of the top for us bank collapses by size 3. have been this year alone. including 1st republic jo biden's message. the sale of 1st republic to j. p. morgan protects depositors or through all depositors are protected and attacked pairs are not on the hook. these action is going to make sure that the banking system is safe and sound. and that includes protect the small businesses across the country who need to make payroll for workers and their small versus a mixture of swift intervention. a buffer fund to prevent banking disasters. a

the 1st republicans who control the house of representatives are demanding budget cuts. there continues to be real difference differences between the parties on these issues. we've been clear about what the president's priorities are and his belief that we should come together to continue the economic progress. we've made an invest in the future while also cutting wasteful spending, and cutting the deficit the president has already shown that while he is not insisting on his approach. if republicans in congress were serious about cutting the deficit. and about finding a bi partisan agreement, reasonable by parts an agreement that can reach the president's desk. they'd be looking at cutting that kind of unnecessary, wasteful spending. police have made several arrests that a protest over suspected look toral interference in the democratic republic of congo. political activists are demanding an international audits with the electoral commission. a q is present in felix just because of retaining elects or laws that benefit in holes or opening for greeks living abroad ahead o

the 1st republicans who control the house of representatives are demising budget cuts. a default could cause global markets to crush pocket stones and bottled former prime minister in montana is told out to 0 that he has no issue with the military. he's previously a choose the powerful institution of interfering in politics. so i've been java had sat down with him and before you say that the problem is with the army chief. but you also say that you promised that he will not 2nd so which one is it? i have no problem with him. but he seems to have a problem with me. there's something floating out on the, on the social media about some statement he's bought allegations made against me, which are why, why do you some? because if you, that's what he thinks about. but it's his broad there's some reason why he has decided that whatever happens abroad hunt coming to paula ami is an institution. you don't directly uh what is the word. i mean, you do more one to interfere with it to affect it, like all the other institutions have been weakened and if it's a shorter to you once th

were well aware of that, these banks, particularly 1st republicans, silicon valley, had a significant problems as much as 9 months ago. and their failure to act deserves much more scrutiny than it's gotten today. there has been a report by that sat in the s t i c. however, those were entirely superficial. and i, i think was congressional hearings to come and more research research on this to validate your previous speaker as a comment that this was largely a supervisory problem. and not a i a inherent banking problem. with him it was you made a comment about the supervisory problem, but to what extent did the markets themselves play a role in the collapse of not just 1st republic, but the, the, the of that us bank's as well in the, in the markets smelled blood. there was a certain amount of manipulation market manipulation, in short, something that went on and did that contribute to the collapse of these us bank ships short selling a bank stocks be barrens. you may, you may have to explain for us what short selling is before you give us the onset to. yeah, i think one of the things th

the 1st republicans who control the house of representatives are demanding budget cuts. there continues to be real difference differences between the parties on these issues. we've been clear about what the president's priorities are and his belief that we should come together to continue the economic progress. we've made an invest in the future while also cutting wasteful spending, and cutting the deficit the president has already shown that while he is not insisting on his approach. if republicans in congress were serious about cutting the deficit. and about finding a bi partisan agreement, reasonable by parts an agreement that can reach the president's task. they'd be looking at cutting that kind of unnecessary, wasteful spending. the french news agency pays the government have killed at least 40 people when a fresh wave of attacks in northern virginia faso. 3 villages were targeted on thursday in the tango province. much of brick enough also has been under a state of emergency since march has the government tries to come back on groups. police have made several arres

1st. republicans have been willing to work with the white house, there has not been any urgency. >> john:y or the highway. >> that is not a road to a bipartisan resolution. that is an effort to take this country on a reckless legislative joyride to a dangerous default. and that is why america is in this situation right now. >> john: he's saying the speaker is not willing to negotiate, but it seems like he is. >> you know, last week it was republicans are cutting veterans benefits, which was not true. the week before, or this week it was it's the 14th amendment, i mean this is democrat desperation time. jeffries has a job to do, unfortunately he doesn't have much to sell. you have a white house that refuses to lead, a senate refuses or can't act, a house led by kevin mccarthy that says look, we need to raise the debt ceiling, we need to make sure there is no default in this country and we have a solution to do that with spending reforms. by the way, a cnn poll says 60% of americans agree with kevin mccarthy. >> john: $32 trillion is a big number we are heading toward so quickly. mccarthy s

1st. republicans want budget cuts as a condition to raise the limit. >> we're reasonable, willing to raise the debt ceiling, but we want meaningful spending cuts and capping spending at 2022 levels. >> reporter: some democrats accuse gop hard liners of holding the u.s. economy hostage to get their way. >> the president has been clear he's prepared to have a separate discussion about budget and spending priorities. >> defaulting on the debt would be catastrophic. it would send a chain of reaction of events across the country that would freeze everything up. it would be terrible. >> reporter: while the deadline is on the horizon, the white house continues to deal with the fallout from last week's shift in immigration policy. thousands of migrants flooded border towns ahead of the end of the key pandemic-era rule. now lawmakers will see if there's any appetite on capitol hill to enact real immigration reform in its wake. >> when it comes with negotiations with the democrats on this policy, i say to them very clearly, let's secure the border first. let's get it done. >> reporter: since rule 42

1st. republicans maintain that spending cuts should be done in conjunction with the debt ceiling lift. ing they will not vote for any clean debt ceiling. so the president the democrats keep talking about, that this has been done 100 times in the past, this is nothing new here. that is really coming off the table now. and it's getting to a point where democrats have to come to the table here, as we're seeing with staff as well. of course, democrats led by president biden are maintaining their position that it should be a clean debt ceiling lift. still, though, if you look at the spending cuts, even if democrats were getting-ing engaged in that conversation to be spending cuts sometime later in the summer or september, they are on opposite pages of what to cut. republicans want to cut mostly non defense spending. so discretionary spending, government programs. democrats, on the other hand, would prefer to cut some defense spending, and maybe raise some taxes on billionaires, to. take a listen to what senator chris murphy had to say. >> if we want to get serious about deficit reduction, th

only a couple of weeks away from hitting the debt ceiling, which could happen as early as june. 1st, republicanst to see major spending cuts before they agree to raise the debt ceiling, which is the limit on how much money the u.s. government can borrow. democrats say the issue is too precarious to play politics with. if the u.s. defaults on its debt. some experts believe it could trigger an economic disaster with ripple effects all across the globe. it's estimated as many as 8 million jobs here in the u.s. would be wiped out. it's believed a framework exists between both parties to reach some kind of deal. the question remains, though, whether it can be reached fast enough to avoid default. never is good to characterize her. she remembered >> i remain optimistic. are you going congenital what i really think fire on their part of both cars reach agreement. i think we'll be able to do. >> this is always a game. we every congress, you during each other to jump off the cliff. that's a dangerous game. i defaulting on our full faith in credit. any financial person will tell you it's very catastrophic

1st. republicans hope to reach a deal this weekend to allow time for the house and the senate to take a votevernment does not reach an agreement to raise the nation's $31.4 trillion debt , the u. s could default, sending shockwaves through the economy and stocks were lower on wall street today, as traders learned that the debt ceiling talks. we're running into some speed bumps. they are back on tonight. those talks but still all the dow closed down 109 points. the nasdaq sloughed slid 30 points in the s and p lost six points. economists are saying that a default on the u. s debt will almost certainly cause a reception. if the bill passes in sacramento, you could get a speeding ticket without ever being pulled over the various cities. that would be the first to get them coming up , plus a change in immigration policy at the u. s border is expected to impact schools catering to the immigrant community. i'm mark sayer in san jose. have that story just ahead. and the sports world loses a legend. a look at the remarkable life of jim brown. nous who said the man was helping to get a line of ducks

1st. republicans, as you know, have expressed kept skepticism about her warning. are there no grown-ups in the house gop who see the gravity of the situation? >> no, there are. situation personally, i think if this vote for my bill, to just raise it cleanly, was a secret ballot, like we all vote for it in elections, there will be plenty of republicans, but they're intimidated by the far-right and their funders for independent expenditure when they went for primary, is my view. >> could you do this by secret ballot? >> no, not according to the rules that we have. and that would require the speaker to change those rules or at least the process -- what accelerated this for me, for us, was secretary yellen's warning about how close we are. >> president biden, in his interview with stephanie ruhle, when she asked him about the 14th amendment, much to my surprise, he didn't take it off the table. were you surprised that by that and you think that the 14th amendment is another viable option? >> i wasn't surprised. president biden is doing a great job on this. we're worki

the 1st republicans who control the house of representatives are demanding budget cuts. experts say the chances of default are low, but if it happens that will have global consequences, there continues to be real difference differences between the parties on these issues. we've been clear about what the president's priorities are and his belief that we should come together to continue the economic progress. we've made an invest in the future while also cutting wasteful spending, and cutting the deficit the president has already shown that while he is not insisting on his approach. if republicans in congress were serious about cutting the deficit. and about finding a bi partisan agreement, reasonable by parts an agreement that can reach the president's desk. they'd be looking at cutting that kind of unnecessary, wasteful spending. the former peruvian president, alberta for jury has denied his government, took part in force their realizations in the 1990s. he was speaking at a hearing to decide if he should face trial for the policy. alexi or brian explains, were not full enough for month

could default on its debt is early as june 1st that republicans have said any increase in the debt ceilingith spending cuts, and they passed a measure in the house aimed to doing that , but democrats are not supporting it. show the american people how the default and on america act would cut critical funding to nearly all sectors of american life. the only way you solve problems as you negotiate. and i'm looking forward to the president, changing his mind and negotiating with us. now the clock is ticking on negotiations since there were only eight legislative today's this month when both the house and the senate our in session at the same time. well this spring, santa clara county will be using a new weapon to fight what's expected to be more than usual. mosquitoes are very wet winter created a lot of new places. coy officials say the drones will let them target areas that are hard to get now. they also provide more precise application of chemicals to prevent mosquito larva from becoming flying insects. the biggest problem will be when the weather warms up a little bit more and the largest

1st. if republicans and the white house fail to reach a comprimise, the world's largest economy could possibly — triggering financial chaos. staying in the us, and the state of mississippi, where an officer has been suspended after shooting an 11—year—old boy while responding to a domestic disturbance. the boy's mother says police arrived to the home in reponse to a domestic disturbance call placed by the child. he was then shot in the chest. the child has since been released from a local hospital. the bbc�*sjess parker has been following that story. according to the family, he was told by his mother to call 911 after next partner of hers had shown up at the house was acting in an irate fashion. police came to the property and the family said an officer called on everyone to leave the house and as he moved through the property and that's when he was shot in chest. but the family say is that while the 11—year—old boy is back at home, he suffered from a lacerated liver, fractured ribs and a collapsed lung. the officer in question has been put on leave but the family are really saying they want a

reach a deal this week to prevent the government from defaulting on its debt before the june 1st deadline. republicans want spending cuts and stricter work requirements for federal aid programs. another american has been killed in ukraine near the city of baku moved, according to a fellow volunteer. he was identified as nickname er, an army veteran, working with a humanitarian group. word of his death came as ukraine fended off a fierce assault on kiev shooting down a barrage of missiles. u. s official says an american patriot air defense system was damaged. we have reported in recent days about the drop in the number of migrants crossing the u. s southern border, but the numbers remain high and several big cities far from the border have their own crisis where to put busloads of migrants being sent north. one controversial idea is to house them in school gyms this morning , some young students in new york are expressing concern over the city, turning their school gym into a temporary shelter for migrants arriving from the southern border. really scared because we were like well, we don't know these p

1st. republicans have said any increase in the debt ceiling would come with spending cuts.cans passed a measure in the house to do just that, but democrats say they'll fight it. show the american people how the default and on america act would cut critical funding to nearly all sectors of american life. the only way you solve problems as you negotiate. and i'm looking forward to the president, changing his mind and negotiating with us. clock is ticking on negotiations since there were only eight legislative days left this month when both the house and senate are in session at the same time , coming up on mornings onto the nine teachers and one of the bay area's largest school districts have set a date to go on strike this week. next what the teachers union in school district are saying about negotiations that have picked up once again this morning. then it was swinging back out to south castaneda in the north bay, where students are working for a great cause. this morning, they're wrapping 500 burritos for those who are competing in the special olympics, either students at

1st. if republicans and the white house fail to reach a comprimise, the world's largest economy could possiblyault on its debt, triggering financial chaos. earlier, i spoke with representative mike waltz, republican congressman from florida, about the possibility of a deal and whether he'd support it well, i'll have to actually see the legislative text, and i think it'sjust worth reminding everybody that house republicans have passed a bill that does raise the debt ceiling, and does limit spending, save the taxpayer money and put measures in place to actually grow our economy, so we've had a deal on the table for three months. it's a shame president biden, just now, just a week ago, even named negotiators and we're at the edge of a crisis. so we will see what the actual deal says, then we will make a decision on how we are going to vote, but i did already vote to raise the debt ceiling with those other measures in place. yes, you voted alongside your republican colleagues. one more question, are you confident speaker of the house kevin mccarthy can get your republican colleagues on board with

1st. today some republican lawmakers suggested the government can hold out until mid june. yellen says not so. >> the odds ofs of reaching jun 15th is low. >> some democrats urged biden to avoid default by invoking the 14th amendment, which states the nation's debt should not be questioned. >> my view is the president should use all legal options out there. i think that is a legal option. >> president biden also says that he believes he has the authority to use the 14th amendment. but he also admits that doing so means that the situation could get tied up in the courts. >> thank you. >>> tomorrow, bryan kohberger is expected in court. danya bachus has the latest. >> reporter: he will be arraigned for the stabbing deaths of four university of idaho victims. >> he will know we are the family. he knows what he did to our daughter. he will feel all of us staring at the back of his head. he won't turn around. >> reporter: a grand jury indicted him on four counts of first degree murder and one count of felony burglary. what do we expect to happen tomorrow? >> tomorrow what we exp

1st. there are republicans casting doubt saying maybe that is not actually the date s there any evidence that would be more money tow last longer than that june 1st deadline? >> well, certainly you're starting to hear from some members of the freedom caucus and other conservatives that that may not be the date. even if you hit june 1st, maybe it wouldn't be as cataclysmic. here is one of the republicans to me yesterday, bob good. >> if we don't pass the bill, the senate doesn't pass the bill, there is not some catastrophic date of june 1. there not going to be some catastrophic -- oh, we hit the limit. markets go up and down based on the expectation of whether or not markets go up or down. there is not some big catastrophe. >> and there, of course, was a question to patrick mchenry, one of the leading republican negotiators yesterday is june 1st the date? he said, look, i listen to janet yellen. when they says the date is june 1st that, is the date. he is the guy in the room. he is one of the republicans leading the talks. obviously, what he says there really is what we should be listening to

1st. today, some republican lawmakers suggested the government can hold out till mid-june.ellen says, not so. >> the odds of reaching june 15th while being able to pay all of our bills is quite low. >> reporter: some democrats have urged biden to avoid default even if congress does not raise the debt ceiling by invoking the 14th amendment which states the nation's debt should not be questioned. >> look, my view is the president should use all legal options out there. i think that is a legal option. >> reporter: major, president biden says that he is considering using the 14th amendment and that he believes that he has the authority to do just that. but he also admits, by doing so, it could be tied up in the courts. meanwhile, negotiators from both sides are meeting this evening with president biden and house speaker kevin mccarthy meeting tomorrow at the white house. major? >> willie james inman, thank you. >>> tonight, el salvador's president says his country is in mourning after at least 12 people were killed in a stadium stampede. investigators say hundreds of tickethold

1st. if republicans in congress do not raise the debt ceiling in the next 30 days the global economy could collapse. so given the staelks here this should be a relatively straightforward fix, because who would want to use the debt ceiling as a negotiating wedge. >> hopefully we're on good shape on the debt ceiling. i can't imagine anybody ever using the debt ceiling as a negotiating wager. >> can't imagine it. who? who would want -- turns out the entire republican party. now, despite the fact the gop raised the debt creel under president trump, they raised it three times, every time republicans are in control of congress and there is a democrat in the white house the raising of the debt ceiling becomes a drama, it becomes a crisis. now, you might think doing something so reckless would hurt them politically, but here is the thing, republicans have a neat little trick, they pretend they have nothing to do with it. >> they're extreme policies made our economy a mess. now they refuse to responsibly raise the debt ceiling instead of negotiating common sense solutions, they're putting the ameri

1st. one republican congressman ken buck told cnn today a brief default would not be hin izwords the end of wall street analysts are so optimistic about tat. former treasury secretary larry summers jones me now. congressman buck says he didn't think it's the end of the world if the world briefly defaults. what would happen? what would be the repercussions for most americans? >> this is not an experiment we want to do. it could mean people don't get their social security checks, and a lot of people who are living hand to mouth. it could mean that we have people fighting in dangerous environments overseas who don't get their pay on time and at a time when we've still got people in the military on food stamps, that's got to be a serious thing. we've already seen the spread on u.s. bonds, the interest rate that the united states has to pay to borrow go up, and that means higher taxes for all of us. and it's got to affect our standing as a serious country in the world that people are wondering whether the united states is going to pay its debt. so it's an experiment, but it's one of those experi

it 1st belonged to republicans service, come and then serbia. we cannot trust them after that. on the other hand, we cannot ignore the fact that they are a geo political factor and the military force. besides many things here have stayed the same. after the l. c, a peacekeeping mission was launched. we hear that muslims are prompting the l. c of forces to take control. and when we see what needle forces are doing, we start to think that it is the boss and the x who calls the shots. if this is true, we shouldn't be partnering with them. we don't need to be there at all and not to let them dictate their terms to us and send in their supervisors. i assure you that most of the ruling elite as well as ordinary citizens of republic, a search scott support this decision to i it is up in the face of the many. why do you think most of the european countries, even the ones that have always been neutral, have now abandoned neutrality? what motivated them? first of all, the u. s. has set up a system of governance that is widely spread in this region at all levels in all sectors of life, fr

s could default on its debt as early as june. 1st republicans have said any increase in the debt ceilingassed a measure. in the house. to do that, however, democrats will fight it. will show the american people how the default and un america act would cut critical funding to nearly all sectors of american life. the only way you solve problems as you negotiate. and i'm looking president, changing his mind and negotiating with us. the clock is ticking on negotiations, since there are only eight legislative days this month, when both the house and senate are in session at the same time . we're learning more this morning about the plans for layoffs at meta here in the bay area. most of the layoffs will affect workers at the company's headquarters in menlo park. hundreds more will happen in other offices here locally, those affected by these layoffs will be let go by the end of july. television and movie writers are on strike. the writers guild of america says it's 11,500 unionized screenwriters will be on the picket line starting this afternoon. negotiations between studios and the writers,

it 1st belonged to republicans, serfs. com and then serbia, we cannot trust them. after that. on the other hand, we cannot ignore the fact that they are a geo political factor and the military force. besides many things here have stayed the same after the l. c. a peacekeeping mission was launched. we hear that muslims are prompting the l. c of forces to take control. and when we see what needle forces are doing, we start to think that it is the boss and the x who calls the shots. if this is true, we shouldn't be partnering with them. we don't need to be there at all and not to let them dictate their terms to us and send in their supervisors. i assure you that most of the ruling elite as well as ordinary citizens of republic, a search scott support this decision to it is up in the face of the med. why do you think most of the european countries, even the ones that have always been neutral, have now abandoned neutrality? what motivated them? first of all, the u. s. has set up a system of governance that is widely spread in this region at all levels in all sectors of life, from e

treasury secretary janet yellen has said that we could run out of money to pay our bills by june. 1st, utah republican senator mitt romney says a default would have huge economic consequences. >> this is about not sending out social security checks. >> not sitting up payroll for our soldiers and our service men and women that sending out a check for people who work for the government. this is running out of all government money, not just. >> spending of the day. while both sides agree the debt limit has to be raised to republicans will not agree to it unless they get cut in federal spending, including some of president biden's top priorities. democrats say the cuts are dead on arrival in the senate and the debt limit should be raised without conditions. today, the federal reserve raised interest rates by a quarter point is it's the 10th rate hike since the central bank started its battle against inflation in march of last year. the a quarter point increase brings the benchmark federal funds rate to a level of 5 to 5 and a quarter percent. the highest level in more than 15 years. this course causing th

1st. if republicans in congress do not raise the debt ceiling in the next 30 days, the global economy could collapse. so, given the stakes, this should be a real straightforward fix. who would want to use the debt ceiling as a negotiating wedge? >> hopefully, we are in good shape for the debt ceiling. i can't imagine anybody ever even thinking of using the debt ceiling as a negotiating wedge. >> can't imagine, who? who would want to do that? turns out, the entire republican party. despite the fact that the gop raised the debt ceiling under president trump, they raised three times, every time republicans are in control of congress, and there is a democrat in the white house, the raising of the debt ceiling becomes a drama. it becomes a crisis. now, you may think that doing something so reckless would hurt them, politically, but here is the thing. republicans of a neat trick. they pretend that they have nothing to do with it. >> they are extreme policies made our economy on this. now, they refused to responsibly raise the debt ceiling, instead of negotiating common sense solutions, they are p

the top republican negotiator says the white house is being unreasonable, the treasury has worn that without a deal, the us may be unable to pay its bills as soon as june 1st, you know, here's the note. so this can be discussion, did not help increase our confidence. no, i do appreciate you all coming in exchange for raising the nation's boiling limit. republicans want to see deep spending cuts, including some of biden's crucial domestic programs. these cover a wide range of plans from unemployment welfare to climate change for the white house says failure to strike a deal will hit government services affecting many people directly. but time is running out. if the us default on its debt, government payments to millions of people who rely on them could suddenly stop. as the white house estimates, half a 1000000 people could lose their jobs in the short term. a longer default could cost more than $8000000.00 jobs and slash economic growth by 6 percent. but it's not just people in the us who should be worried. the shock waves from a potential us that default could be felt globally, given the importance of the world's biggest economy. alexandra buyers for insi

1st deadline. ho however, house republicans have a different take on where those talks stand. here's house speaker mccarthy on the hill yesterday >> we just had our secretary say june 1st we could run out of money. we only have so many days left the president decided to wait 100 days before he would negotiate. so no, i don't think we're in a good place i know we're not >> the house speaker went on to criticize president biden over planned overseas travel this week and suggested they needed a deal by the end of the week to stop default today's meeting will bring the four leaders of congress into the room where this staffs have been hard at work trying to find a path forward chuck schumer echoed the president's positivity promising that default is not an option. with the president leaving the country tomorrow and lawmakers still at odds, janet yellen's june 1st deadline is closer tha you might think. she reminded of the consequences of an american default and talked about the impact that default would have here at home for american families already under pressure from inflation.

i think we can meet on 1st the what this but it will do for trump as far as the republican primaries concerned. and secondly, if he gets the nomination, how it would then impact his presidential election challenges. well, thank you for having me back. i'm and respond to your 1st question. this helps trunk in the republican primary, full stop. and there's a couple of reasons for that. first, trump's prime appeal to primary voters is based around this notion that this is a which shuttle the deep state is out to get him. so this, this verdict only of firms that perception or secondly, it forces all of his republican challenges and potential challenges. nikki haley, rhonda santas as a hutchinson, all of these people into a tough choice. either they defend trump and say, this is unfair is a which on that kind of repeat his lines, in which case it makes them seem like follow words and him the leader. or they say that this was the right verdict and a risk not risk, almost guarantees. pushing away republican primary voters. so this is for the republican primary. good for donald trump. all rig

and typically the 1st administration is both republican and democrat administrations have increased the debt and i believe of to the republicans got the administration back in 2011 to agree on caps for government spending. they were then abandoned by the republican controlled congress just a few years later in the increased funding. but all of that aside, because that's going to be handled over in the coming days. i want to talk a little bit about consequences, because this would be the 1st time in history that the us defaults on the steps if it does indeed do that, and that's for our global audience, not the same as the u. s. government shut down, it has but far more serious, deep consequences that will go far beyond american shores. but that stopped now at home. william what happened back in 2011 that we were talking about resulted in a downgrade for the us credit racing. and that means i was looking at the numbers, the cost of borrowing. when's helps with the us treasury by at least $1300000000.00 . if there's a deal that goes down to the why this time around, could that happen again

some republicans are questioning whether the treasury department's june 1st deadline to avoid a potentially catastrophic default is actually accurate. republicans are demanding spending cuts, while democrats are offering to freeze spending in order to strike a deal to raise the government's borrowing limit. >> 97 days the president wants to meet. we're trying to convince everything in the short timeframe. the house passed a bill, the senate never passed one. it's more difficult. what else do you have to negotiate with? >> mccarthy said the june 1st deadline can still be met. >>> during a closed door hearing, a russian court extended the arrest of "wall street journal" reporter evan gershkovich by three months. the 31-year-old american citizen was arrested in march on espionage charges. the court ordered him held until august 30th. the "wall street journal" and the u.s. government have denied the charges. the state department says he's being wrongfully detained. >> the claims against evan are baseless. we continue to call for his immediate release as well as the immediate release of paul whe

republican side of the senate. he said that is quote, a bad idea, he really hopes they are able to reach consensus ahead of june 1stalso the notion that some republicans definitely in the house, they don't so much care that the government could potentially go into default, we could potentially see a recession. some of them told me that what they passed in the house a couple weeks ago was the quote, bare minimum. but they would accept. so a lot of hostage taking is going on among republicans. when you talk to democrats, but on the, flipside there's not a lot of urgency among democrats. either who left town on thursday before 4 pm, they are not gonna be back until tuesday. same goes with the house. so really, not much that we can expect in terms of movement until we see what happens with that meeting. >> sounds like a bit of a standoff. and not surprising,, right considering where we are on the election calendar? heading towards another presidential election. certainly those republicans and democrats are wanting to point fingers at the other if it doesn't get the. right way julie tsirkin, for us as always thank. you

not just that of the us. republicans and democrats are battling the clock, seeing who will flinch 1st as both sides seek to further their agendas over where the government should spend its money. it is the showcase of some of the world's best cinema. now this $76.00 come film festival is now officially underway. the question on everyone's mind who will walk away with the top prize, the prestigious palm dog on tuesday? all eyes were on the styles, arriving for the opening ceremony, specifically one, those come back as well as if you why? because i can. some things are entirely predictable. it's always a red carpet spectacular. but the jury president hopes deliberations for the top prize will be in a 2nd, but don't trying to find a way of, of formulating yourself and to avoid concerns just definitely. it's so boring to be in the, in a, in a, you're a when it's consensus. this year's kind is not being with tight control oversee many critics of asked why actor jodie debt has featured so prominently starring in the festivals opening film. one that isn't even in the competition, hits the la

i know there's skepticism from house republicans about the june 1st deadline, and it's silly because yellen sets the deadline and it's her call when they come out of cash, and there are house republicans that feel like they do have more time. kevin mccarthy says he believes it's a june 1st deadline, and president biden believes it because it's the treasury secretary setting it. >> and there are some extraordinary measures they can try and make, and it's simple as saying what kind of bills can we pay now and what can we negotiate with certain parts of the government we can defer, and what jake was talking about, it's all about whether or not -- at least on wall street, there's still conversations happening among certain traders and investors out there that are basically asking a hypothetical scenario, how much does the market have to drop and how much volatility does there have to be before the lawmakers and the white house realize this is going to be a big deal? in 2011, there was no default but standards and poors downgraded america, and that had a huge affect on the markets. and dur

not just that of the us. republicans and democrats are battling the clock, seeing who will flinch 1st as both sides seek to further their agendas over where the government should spend its money. they have the v of official intelligence company that creates a check g p t says he's industry needs to be regulated. some elements fund is called open. i mean, really have you told us will make is in washington, that artificial intelligence office, many opportunities, committee boss, he said he shares the public's consent about how it could change lots. billy said i, i poses a serious risks. is that need to be managed and suggest to the us or global agency, or the setup to regulate? i tech folks, necessarily. here, they definitely step in simon's was at the senate hearing and told us about what kind of regulation the in the industry might see. and that's the problem that nobody knows, and there are few scenarios, right? or ideas out there. what do you, how do you do it if you know a, i, out of houston, texas be, can become a problem. so where can it become a problem? how can i become a probl

let me say clearly, the intention of the house republicans that on june 1st, for over 100 days, he's been stalwart, traveling in beautiful places and said there would be no negotiation. that's not taking this issue seriously. and in front of us, to bring clarity to this and i was not happy with some of their answers. they are defiant, it was very disappointing. if that happened in the private world many would be fired. >> host: let's go to louisville, kentucky, on the republican line. >> donald trump got a clean bill on raising the debt ceiling, that's not true. nancy pelosi wouldn't talk to him, and schumer and they had to raise social issues, give more money to social issues to pass the debt ceiling. we need to get ecologists back into the student loan sent get federal government out of student loans. >> guest: i agree about colleges and universities, they need to have skin in the game. here is your loan to get money from the federal government and they don't have skin in the game. 70 majors going on in colleges today that should be elective, people graduate with a major won't talk