we are live now with the federal reserve chair ben bettrnanke th morning he is testifying on the u.s. economic outlook for this year, this committee is just getting under way. >>. >>> as the ranking member and we want to welcome the federal reserve chairman, ben bernanke back to this committee. this is the fourth time that you have testified before the committee and we are very, very pleased on have you again. and this is timely for your appearance because of the nature of the recovery. i will without objection insert the full remarks of senator conrad's opening statement, i'm going to turn to the ranking member for his statement before mine. senator sessions. >> all right. thank you, mr. chairman. i hope chairman conrad feels better and value his leadership in the committee as i note you do. good morning chairman bernanke, i thank you for joining us today, i'm eager to hear your thoughts about our financial situation. the congressional budget office confirms that the deficit will top $1 for the fourth consecutive year. we have accumulated almost $5 trillion in gross debt during which

good ben bettrnanke earlier tod. can you watch the entire hearing on our website in just a bit. we'll also have it in the entirety tonight on the c-span networks. in just a bit, we'll bring you live coverage of a hearing looking at a bill that is designed to force approval of the keystone xl poil pipeline running from canada to texas. that hearing is in recess at the moment. we'll take you there live once they resume. until then, a discussion on congressional earmarks from today's "washington journal." >> some used earmarks droekt millions of dollars to federal money to projects that are near properties they own. it starts off like this. the u.s. senator from alabama directed $100 million to renovate downtown. the congressman from georgia secured $6.3 million in taxpayer funds to replenish the beach, 900 feet from his island vacation cottage. representative from michigankede lane to a bridge within walking distance of her home. 33 members of congress have districted more $300 million in earmarks, another spending provisions to dozens of public projects that are next to or at lea