the senate budget committee never put out a budget last year. i hope the budget committees will put out a budget this year. the house budget committee did put one out at the end of the year. we need to put a budget in place. the budget needs to have a physical objective. it can't be we are going to borrow 20 trillion. and that's assuming the tax cuts will retire. those numbers may well be worse. we need to compromise. revenues have to go up. social security has to be fixed. if we do nothing there will be a benefit cut of 23% for every person. the billionaire and the person who needs it for everything. we have these interactive tools on our website. you could fix it with taxes. rather than just lifting the payroll tax. or raising the retirement age or slow the growth of benefits for people who don't need them as much. what we really can't do as a country's top president biden and former president trump both promise not to do anything. it's important that we should have a policy on social security. no political leader should be ok with that as a s

budget? guest: we have one of the worst acronyms ever, the committee for a responsible budget. i am a political independent. i have been with the office for 20 years. we have a board of directors focused on budget committees, the budget office, office of budget management. the main effort is fiscal responsibility. it's not balancing the budget, small or big government. it's about borrowing money based on economics. during covid it makes sense to borrow. but when we are strong it does not make sense to borrow. we are neutral on the political alignment. we have diverse staff. host: how is your organization funded? guest: foundation and small donors. we get checks for 25, $50. we have small donors but mainly big foundations are where we get our funding. host: i want to put up on the screen, the findings of the cbo who said the deficit will grow from 1.6 trillion in 2024 to 2.6 trillion. overall, your reaction to those numbers? guest: he will be testifying about this update in the budget they put out. this is the greatest document on the budget. is what i read to learn about the bu

number one, as for the budget committee, it seems to me and everyone who really thinks about it, there is no budget reform without entitlement reform and it's a poison pill, if honesty is the true way forward in government, are we going to be the ones who bring it up first, i don't know. is there a plan for entitlement reform or will everyone continue to avoid the subject? and secondly, i heard a report on daily wire this morning that the mexicans are starting to clear out the border and sending people south because of talks between the biden administration and his administration. the understanding it is their own poison pill and will cost them the election if they don't figure out the border real fast. guest: first of all, a great question, 70% of our budget is social security and medicaid and medicare. unless we do something about that, the entitlements, we're never getting it under control. the budget committee appointed commissions to look at it. we've got to do something for social security, not to cut it. not to cut it but to save it, sustain it. and make sure to stabilize it for

we will see if they would support that and if they would work through the budget committees. the budget committee is considering legislation. wherever the congress goes, he would support that. the nc has done that in the past. we will have to get that for you. when it comes the right time for that story, we will find that picture and get it for you to illustrate. that is what we would do. it could be that our 2020 deficit report might be helpful as policymakers consider options. we do that deficit options report every two years. >> how much is out there? >> we will go back to john -- it is a really difficult issue. we don't have the real-time information on the backlog of claims and if any claims are withdrawn during the time when the irs halted processing. that is a challenge. >> we increased our projections as we participate under current law. those projections were created effectively in november. we really had no idea what was sitting on those pieces of paper. we had no idea what the future claims would be. the anticipated there would be much stricter scrutiny going forwa

maria: you're the chairman of the budget committee and philip swagle will testify before your budget sman, what are you hoping to learn from the hearing and you how do you feel about making these deadlines? you've got march 1st and march - to finish the appropriation bills. are you going to make it or will we see a government shut disman. >> the budget committee sets the top line so that's been you agreed to at this point so they're going to have to work through the policy debate on the funding of last year. this is -- now we're looking at 25, believe it or not, and we're looking at the 10 year balanced budget we passed out of committee last year. this is our framework for restoring fiscal responsibility. sbo tells us we're in rapid fiscal decline. they want to add $20 trillion to the debt, 60 plus percent of that is interes is interest alos more than we spend on defense, medicaid and a host of other government programs. this thing is off the rails. and if we don't intervene and intervene in a big way, we're going to have an irreparable harm from a debt related crisis which will under

the budget committee is considering legislation. wherever congress goes, we would support that.e will have to get that for you. the picture of the binder of cbo analysis from past fiscal commissions. [laughter] when it comes to the right time for that story, we will get it for you to illustrate. that is what we would do. it could be that our 2020 -- 2022 deficit report might be helpful for congress as policymakers consider options. last thing and then i will go to rich. we do that deficit options report every two years. we would do another one at the end of this year. hopefully that would be helpful to policymakers. >> [indiscernible] -- how much you think is less than that, both claims filed -- [indiscernible] -- january 31. how much is out there? >> i will say a word and then we can go to john. it is a really difficult issue. we don't have the real-time information on the backlog of claims and if any claims are withdrawn during the time when the irs halted processing. that is a challenge. maybe john i should turn to you -- if we have numbers? >> we increased our projections of

he made the comment while testifying on the budget and economic outlook before the house budget committee. this is two and

. >> indiana senator mike brown member senate budgeting a committees, aging committee that i thinks forwould you like to see leadership now that mcconnell is stepping down. >> i go back to will have the time we did this. i was standing right next to rick scott when he decided to kind of on the moment, extemporaneously throw hat in the ring saying entitlement needed to be looked at said wrong way schumer jumped on it then mcconnell nine or 10 votes clearly the party changed since i came in, in have 18, 15 of last come from different way of thinking that is try to fix this place not the old guard we've already got, the senate caucus changed a lot to are '18 that different than it was somebody that reflects knew point of view can't borrower from kids, grandkids involved in leading not paying all bills across the world somehow get to where we don't vote for democratic legislation put out conservative ideas that are entrepreneurial, to fix the problems we face that is what i want's. maria: is there someone comes to mind do you want rick scott there. >> i would like to see him do it again he

the senate budget committee never put out a budget last year.e the budget committees will put out a budget this year. the house budget committee did put one out at the end of the year. we need to put a budget in place. the budget needs to have a physical objective. it can't be we are going to borrow 20 trillion. and that's assuming the tax cuts will retire. those numbers may well be worse. we need to compromise. revenues have to go up. social security has to be fixed. if we do nothing there will be a benefit cut of 23% for every person. the billionaire and the person who needs it for everything. we have these interactive tools on our website. you could fix it with taxes. rather than just lifting the payroll tax. or raising the retirement age or slow the growth of benefits for people who don't need them as much. what we really can't do as a country's top president biden and former president trump both promise not to do anything. it's important that we should have a policy on social security. no political leader should be ok with that as a solutio

host: you are on the budget committee in congress is just about to go on a break in the deadline for a partial government shutdown is about two weeks. what is the plan to prevent that from happening? guest: the appropriators have been working tirelessly and i understand they are making progress. we finally got that top line number which is important. it was difficult to come by. we finally got it and now the appropriators know where they are. on march 1, we've got to have the four appropriations bill done otherwise those agencies will shut down. the others will be effective for the cr runs out on them on march 8. we got to get those done. i am encouraged by the appropriators were telling me that they are making good progress. everything i'm hearing is that we will probably get it done. i don't want the government shutdown. that's not the worsening that could happen. the worst that could happen is the fact that we continue this reckless spending that has resulted in $34 trillion in debt right now. the united states of america is got revenues of about $6.4 trillion. that means we are -

governors approves the budget of the parliament every year , prepares it , and gives it to the budget plan committee. once approved, the budget plan committee gives it to the government in the government bill. we always increase the salaries of our representatives like increase the salary of the presiding board, when it proposes a joint meeting of the presiding board with the program commission, these salaries are determined according to the article of note to article 80 of the internal law of the parliament, 18,700,000 tomans for 18,800,000 tomans, the salary is about 600 tomans overtime , this is a total of 25 million tomans the salaries of the representatives in every year, every month, last year, not this year, this year, 1402, and because this note in article 80 of the internal constitution law has allowed that the meeting was a private one and it was poorly planned, so you don't underestimate things. look, when we went to the parliament that year, of course, the salaries are finally according to the purchasing power and price of so-called money was the value of money at that time but again, we

i am sympathetic to their concerns, i served on the budget committee several years. i think they have their properties backwards and i'm hoping they will step back and reflect on that. host: your thoughts on new aid for ukraine? guest: i support military assistance for ukraine for the same reason. we have dictators around the world. china, north korea, iran, they are watching all of this carefully. if putin is allowed to subjugate ukraine, if we lose israel in the middle east, that will be a powerful signal to dictators to march on their objectives. i am afraid we would see this nation drawn into a major conflict. we are not prepared to fight. host: in pennsylvania, anthony, you are on with republican tom mcclintock. caller: good morning, congressman. i admire your tenacity about the voting you made yesterday -- of the vote you made yesterday. you mentioned before that alejandro mayorkas is not enforcing laws that already exist. the impeachment process that you voted against, the 214 of your colleagues voted for, they believe this is constitutional. you are on a team

the budget legislative analyst has made serious recommendation during the committee, which the sherifftrial diversion project are committed to provide those information before they come before us again during budget. while i urge you to approve it today, again, we have a lot of concern. it is one of those contracts that i urge you to pay attention to and which we definitely will at the budget committee. thank you. >> i note for the record after having called the head of pretrial diversion david muroof they indicate their 21 and 22 fiscal year audits will be turned in hopefully this week. supervisor stefani. >> thank you president peskin. colleagues, i will not be voting in support of the contract amendment today. i have long had concern s regarding pretrial diversion project capacity to deliver on the promise. reducing recidivism and advance equity. p when this contract brought before us in 2021 i voted against it and voiced reservations about the contract and my lack of confidence in the pretrial diversion project ability to deliver on meaningful outcomes for those served. p while the

jump in here. >> he shocked me by actuallied a mitting to the house budget committee, he said in themmigration will drive gdp growth 7 trillion and increase government revenue by 1 trillion. maria: your thoughts, congressman? >> i know phil swagle. i met with him many times. he's a good man and knows the number but unnoterly he follows a static model for determining these outcomes. that's why they've been wrong by such a large amount. honestly the cbo originally said the president's tax cut and jobs act would cost $1.8 trillion. he didn't discuss the growth that took place because of it and it has paid for itself. but it gave the democrats a talking point that they used to this day. we have increased revenues and i'm former revenue secretary of pennsylvania, a f phenomenal amount. federal revenues have do up rev% in the last years, spending has gone up almost 60%. we had covid. i voted for $4 trillion in spending but the reason that didn't cause inflation was because our gdp fell backwards almost $4 trillion. the biden administration came in and said we're on a spending spree, let's

congressional budget office director provides the nation's budget in academic outlook to t house budget committee. on thursday, the house foreign affairs committee will hear testimony on the delhi agreement on the u.s. withdrawal from afghanistan. watch next week live on the c-span networks or on c-span now, our free moleideo app. also, head over to c-span.org for scheduling information or to watch live or on-demand any time c-span, your unfiltered view of government. >> this week on 2024 campaign trail, c-span takes you to california where nikki haley began her swing for super tuesday. and to new york, the -- where the weight -- race to replace the expelled congressman, george santos. we will also talk to a political expert. but first, a look at results and reaction in this past week primary and caucuses. after a decisive win in south carolina's february period democratic primary, president biden moved onto nevada, ahead of its february 6 by mary. here he was in las vegas the day before the primary, meeting with members of the local 226 culinary union. union. >> [indiscernible] [laughter] pres.

everyone likes to come to the parliament to go to the budget program committee because it had a special rent . we saw that there are problems in the budget program committee. god bless him. one of the prominent lawyers of the country, who was one of the professors of tehran university, who passed away a few years ago , dr. hashemi, may allah teach us that he was our expert and came to rewrite the whole he arranged the bylaws and a lot of things from the processes that did not have those problems in the national assembly before the order. that monopoly was taken from the budget program commission , we predicted that two people from each specialized commission would come to the commission to review the budget and program and summarize the changes and amend the structure of the bylaws that were approved and were one of the lasting works. besides, well, the parliament always really beat. it affects the society. in the society, when something happens, whether it is unpleasant or pleasant, it is reflected in the parliament, and when it is necessary, for example, instead of a flood, there is a

, such as dealing with the budget, everyone likes to come to the parliament to go to the budget program committee because there was a special rent, the budget program committee saw this, there are problems. and we did an expert work on the whole bylaws that were messed up, we gave it a shape and an image , we divided it into chapters, with the help of god, one of the prominent lawyers of the country, who was one of the professors of tehran university, who passed away a few years ago, may god teach him, yes, that they were our experts and they came the rewriting of the entire procedure was not done and many things were done. of the processes that were in the national assembly before the order, it did not have those problems . the monopoly was taken from the budget program commission. to review the budget and plan and summarize the changes and modify the structure of the bylaws that were approved and one. which was one of the lasting works , in addition to the fact that the parliament always beats with the society, when something bad happens in the society, now or pleasant, these things are reflect

director the congressional budget office phillip swagel testifies on use economy before the house budget committee. he will be focusing on the cbo's baseline budget and economic projections and ways to improve the agencies accuracy and transparency. you're watching live coverage on c-span2. [inaudible conversations] [inaudible conversations] >> welcome. committee will come to order. committee on the budget hearing today on the congressional budget offices budget and economic outlook will commence. we'll hear testimony from director swagel through the congressional budget office. welcome. without like to yield myself such time as a may consume. we are talking about fisa mac this week, which is an issue of national security. and want to quote admiral mullen, at a hearing defense hearing where when asked what the biggest threat to nationals could do was come his response was the biggest threat to national security is our national debt. jerome powell the fed chairman who probably is loath to opine on fiscal policy in the 60 minutes interview said the national debt, our fiscal path, is completely unsus

i worked in the tax budget committee, you understand, well, there wasn’t a week when the committee meetinglike, that is, if the system has already been built, then it changes constantly, people simply do not keep up with this system , the monopolization of the market is greatly hindering us, so we believe that it is necessary to limit the activities of foreign trading networks, here is the program of our candidate, all are spelled out here... these are the essential positions, our candidate has a political the will to implement this program to help businesses develop and protect. thank you! thank you very much, alexander alexandrovich, please, your 4 minutes. let me remind you that vladislav davankov is a man who worked in business, who created three large projects that have worked and are working to this day, and i can say that as a person i am his representative, as a colleague. since i’ve been doing business all my life, i very often have to listen to theorists, they say: this is business, interest, gross product and so on, now a man is sitting near the tv, watching and saying: guys, wh

i have served on the budget committee for years. i think these conservatives got their priorities backwards and i am hoping they will step back and reflect on that. >> briefly, your thoughts on new aid for ukraine. >> i support mel astaire -- military assistance for ukraine. we have dictators around the world. obviously, china, north korea, iran, they are watching all of this very carefully. if we lose israel in the middle east it will be a very powerful signal. a major major not physically prepare to fight. you are on with former republican john mcclintock. >> the vote that you made yesterday. this question that i have for you, the biden administration. the impeachment process that you voted against, 214 of your colleagues voted for. they believe this is constitutional. you are on a team he had the way to send a message for this administration and future administrations is to be impeached to enforce the law. not what you believe to be true. >> as i said, it will not be solved by bills that will be signed, laws that won't be enforce

in terms of the fiscal, we work with the budget committees in the house and senate and of course it is considering that legislation so wherever the congress goes we would support that and they've done that in the past. we have to get that for you, the analysis when it comes the right time for that story we will find that and get it for you to illustrate but we would never told the congress to do this or do that. it could be the 2022 deficit. and then the last thing and i will stop and go back to rich. we do the deficit report every two years and then we went to do another one this year so that would be helpful. >> [inaudible] with claims that were found, how much is out there? >> i will say a word and then go back to john. we don't have the real-time information on the backlog of claims, so that's the challenge. >> we increase and at the the projection was created effectively in november and the information we had but we had no idea what was sitting on the piece of paper and irs. but they anticipated going forward there would be strict scrutiny and as a result, a smaller share of that

again, you give the budget committee the best information. i want you to talk, i want you to highlight, we are finding ourselves -- you predict this year that our interest payments will match what we spend in defense of our country, about $800 billion to each. talk about how monumental of an intersection that is, please. >> these rising interest payments are a budgetary challenge and an economic challenge. and the comparison you make, i think, is a valid one. it's an important one, that we have to pay the interest and that that means policymakers, you and your colleagues have to make difficult choices about how we spend money or how we raise more money. and that, that's the budget impact. the economic impact, higher interest payments mean higher deficits, and that poses economic challenges. it affects our growth, it affects our investment, affects job creation. >> i love you talked about a how it affects our growth. we're having to attract investment to take on our debt whereas otherwise it'd be going into the economy. these people that would

this was predicted by the congressional budget committee.is: if current laws are not changed, the national debt will continue to grow 54 years old. will already be 174%. last june , joe biden signed a bill to raise the debt ceiling, which is expected to be reached in early 2025. let me remind you that over the past year, the us debt grew by more than 4 trillion and exceeded the $34 trillion mark. and at the end of the exchange rate, the dollar today is 91 rubles 15 kopecks. euro - 98 rub. 9 kopecks novel. thank you. now let's take a break for advertising, and then we'll tell you the instructions in the program. how to get into the resettlement program from emergency housing? sesame bun, two knock cutlets, special sauces, cucumber salads, legendary no need to apply for a new card, look for a list , this is an unusual service with payment in installments, you can find stores, play is available everywhere, play divides prices into six parts and works with a card from any bank, but there are no interest rates, go to playthrough. this night our f

welcome to february 7 meeting of budget finance committee. i'm supervisor chan and joined by supervisor mandelman and melgar. our clerk is brent julipa. i like to thank sf gov tv for broadcasting today's meeting and that is including janette. i'm terrible this morning. my apology. mr. clerk, do you have any announcement? >> thank you. friendly reminder to those to please silence cell phones and electronic devices not to interrupt proceedings. should you have documents to be included as part of the file they should be submitted to myself the clerk. public comment will be taken on each item. when your item comes up and public comment is called, please line up to speak on the west side of the chamber to your right my left along the curtains and while not required to provide public comment we do invite you to fill out a comment card and leave on the tray by the television to your lerft. left. you may submit public comment in writing e-mail them to myself the budget finance committee clerk at brent.julipa@sfgov.org. if you submit public comment vi

congressional budget office director provides the nation budget and economic outlk to the house budget committee. thursday the house foreign affairs committee will hear testimony on the doha agreement of the u.s. withdrawal from afghanistan. watch next week, live on the c-span networks, or on c-span now, our free mobile video app. also head over to c-span.org for scheduling information or to watch live or on demand anytime. c-span, your unfiltered viewf government. >> a three-judge pel from the u.s. court of appeals for the d.c. circuit judge world argumentinhe united states v trump. the case asks whether former presidendold trump is immune from thorough prosecution for his allegedolin trying to overturn the 2020 election results in the january 6 capitol atck. this oral argument is about one hour, 15 minutes. >> united states of america versus donald j. trump. >> good morning. before you get started can i just get a couple of things on the record. the record. our jurisdiction was challenged by an our jurisdiction was chleed by an amica. but from your order, you are not challeinthat. and also you

you were sitting as budget committee chair.esident when i was first appointed 16 years ago to this job and it a honor you are still on the dais as i step away from my role, so thank you for all our work together. it was deeply humbling and scary to be handed the keys by the mayor and the board to the controller's office. the house my predecessor ed harrington builts when i started in the role 16 years ago. it has been an honor to be in the work for the last 16 years working with all you, mayors, through good times and bad, and it fills me with great pride to know i'm handing the keys off now to someone else for a office that continues to be filled with just fantast people doing fantastic work. again, just thank you very much. it has been a honor. >> don't go away, ben. hold on one second. madam clerk, would read item 43 out of order? >> yes, mr. president. item 43, resolution to commend and honor ben rosenfield to san francisco controller and declaring february 29, 2024 as controller ben rosenfield day in the city county of san

the director previewed some of the numbers at a testimony last week before the house budget committee. one of the headlines that will be coming out about that is that the fiscal responsibility act help reduce the deficits relative to the previous baseline they came out with last summer. unfortunately, that's not going to totally tell the total picture. we are going to see potentially up to 300 billion dollars in higher deficits this year based on policies congress is considering right now that's not going to be incorporated into the cbo numbers coming out tomorrow. the johnson-schumer deal to increase spending above the fiscal responsibility levels that are signed into law, we've got the tax deal that just past the house recently and of course, the 118 billion dollars supplemental appropriations bill under consideration in the senate. that could extrapolate that over 10 years and that could add between one and $1.5 trillion that will not be incorporated in the cbo numbers. we also think they will show that prices will be growing faster than the economy over 10 years and that's not sus

other things, well, you are so lucky if there are no swamps there, and i am i am a member of the budget committee of the kharkiv regional council and i know the exact figures that are allocated for fortification, but i cannot say them live, by the way, kharkiv oblast was engaged in fortification constructions very actively in the 22nd year, most actively in the 22nd year. she was also engaged in the 23rd year, we spent on fortifications, i think, the most of all regions, and these works are not stopped today, for the 24th year we have allocated enough budget funds to strengthen kharkiv oblast even more, and i am here this is a question in advance, because once again i see that, for example, in some regions, well, in the south , i understand that kharkiv is not the south, but... they are already preparing to start sowing, and today there is also this story about ukrainian grain spilled on the territory in poland, as far as i understand, this was done, well , they attacked a car, cut them down and spilled ukrainian grain, which is harvested, as they say, grain on the blood of our people. work, that

a billion for the armed forces, you have one and a half minutes, what what bad, because the budget committeeterrupted the consideration of this issue, grossly violated the regulations, that is, it made a decision to which it has no right, namely, it returned this decision without consideration to the subject of the initiative, accordingly , we considered this issue today... at the plenary session , the regulatory commission was tasked with reviewing the actions of the budget commission and giving its conclusions, well, it is a strange story, because there are many servants of the people in this commission, and they did not vote for the money to go to the armed forces, it seems that they live in some other country , where is the money for the armed forces not needed ugh. do you think it will be possible to push through this issue, to consider it so that it is approved, because we understand money. do we need them now, do the armed forces need them? look, it will definitely be possible, in fact, we would have already considered this today if the budget commission had simply acted according to

therefore, the message from the head of the budget committee, the people's deputy from the servant of people, roksolana podla, is important. the budget works in a cost-saving mode, expenditures in january turned out to be 86 billion less than planned, so from the end of november, ukraine went into a cost-saving mode and many non-priority expenses were simply not paid, this mode continued in january and february, so the state budget revenues in january exceeded the plan by 25%, this is good news, and as a result , the state budget deficit in january was also... smaller than planned. well, now we invite our next guest. yes, marta, let's start. andrii dubas, president of the association of ukrainian banks, is already in touch with us. mr. andriy, we congratulate you and are glad to see you. congratulations. glory to ukraine. slava is the hero. mr. andriy, we would like to ask you what is happening with our money, because the situation looks rather alarming in view of the blockade of the polish-ukrainian border, and we understand what this can cause. certain inconveniences let's say so, t

contracts with private providers outside of the city, and san francisco's board of supervisors budget committeence 2020. for two hours, san francisco supervisors questioned the city's public health department, asking where are the treatment beds? >> we have no idea. idea based on the numbers we're looking at today, how many san franciscans with severe for you may kno

macro-financial mechanism is already at the final stage, and the next steps are as follows: next week, the budget committee of the european parliament will consider the draft of the relevant resolution and approve it. and approval will also take place at the level of the eu council, the vote on the resolution on the allocation of 50 billion euros to ukraine will take place at the next session of the european parliament from february 26 to 29. thank you for your work, until the next meeting at the espresso atelier tetiana vysotska from strasbourg talked about the european parliament session about ukraine and how europe can help our country even more. importantly. the supreme representative of the european union for foreign policy, josep borel, came to kyiv for a visit , the european diplomat wrote about this on the social network ex, he came to discuss the unwavering support of ukraine, military and financial, they will also talk separately about reforming ukraine on the way to the eu. and one more important one today's guest in kyiv, director general of the international atomic energy agency. grosi came to

of other things, well, you are so lucky, if there were no swamps there, i am a member of the budget committeearkiv regional council and i know the exact figures that are allocated for fortification, but i can tell them on the air i can't , by the way, kharkiv oblast was engaged in fortifications in 22, very actively, most active in 22, it was also engaged in 23, we spent on fortifications. i think the most of all areas, and they are currently these works not stopped, for the 24th year we have allocated enough budget funds to strengthen kharkiv oblast even more. well, i ask this question in advance, because again i see that, for example, in some regions, well, in the south, the main thing is that i understand that kharkiv is not the south, but they are already preparing to start sowing, and today there is still this story about spilled ukrainian grain on the territory of poland, to what extent. i understand, it was done, well , they attacked the car, cut it down and spilled ukrainian grain, which is collected, as they say, grain on the blood of our people, or kharkiv region will be preparing f

well, in order to reassure ukrainians, the head of the budget committee of the verkhovna rada, roksolana pidlas, commented on the situation, and she says that there will be no problems with pensions, even if the aid from the united states decreases and we have to comply with that demand of the senate. state the budget now fully covers the deficit of the pension fund, and in general, pensions in ukraine are paid at the expense of a single social contribution. in essence, pensions are a protected item of expenditure, so money will be found in any weather, as they say. let me remind you that indexation is planned for march. these payments, well , this really needs additional money, i am sure that there will be certain balancing initiatives, and it is already pleasing that the european union... is starting macro-financial assistance for the current year, we are waiting for the first tranche at the end of february, and maybe from that money ukrainian pensioners will receive their payments without any delays, well, of course , inflation will bite indexation, but in any case , without indexatio

welcome to february 14 meeting of budget finance committee. i'm supervisor chan and will be joined by supervisor mandelman and we have supervisor melgar. our clerk is brent julipa and i thank sfgovtv for broadcasting. >> please make sure to silence cell phones and electronic devices not interrupt proceedings. should you are documents included as part of the file they should be submitted to myself. public comment will be taken on each item. please line up to speak on the west side of the chamber along the curtains. not necessarily to provide public comment we invite you to fill out a comment card and leave on the tray by the television chair if you wish to be recorded for the minutes. you may submit public comment in writing to budget finance committee clerk at brent.julipa@sfgov.org if you submit public comment via e-mail it will be forwarded to the supervisors and included as part of the official file. you may send written comments u.s. postal service to city hall, 1 dr. carlton b goodlett place, room 244, san francisco california 94102. due

welcome to february 14 meeting of budget finance committee. i'm supervisor chan and will be joined by supervisor mandelman and we have supervisor melgar. our clerk is brent julipa and i thank sfgovtv for broadcasting. >> please make sure to silence cell phones and electronic devices not interrupt proceedings. should you are documents included as part of the file they should be submitted to myself. public comment will be taken on each item. please line up to speak on the west side of the chamber along the curtains. not necessarily to provide public comment we invite you to fill out a comment card and leave on the tray by the television chair if you wish to be recorded for the minutes. you may submit public comment in writing to budget finance committee clerk at brent.julipa@sfgov.org if you submit public comment via e-mail it will be forwarded to the supervisors and included as part of the official file. you may send written comments u.s. postal service to city hall, 1 dr. carlton b goodlett place, room 244, san francisco california 94102. due

which is the equivalent of our entire national dependence annual budget. >> reporter: so at some point as senior policy director for the committee service the debt, accept less in government services and get less in benefits. the cbo projects social security and the highway trust fund will be insolvent within 10 years and even the fed chairman for years has been saying this is an unsustainable fiscal path. back to you. stuart: edward, thank you very much, indeed. kevin o'leary sitting right next to me here in new york. we always a keep talking about how this debt is not sustainable, and sooner or later we run into a debt bomb and it explodes. is that going to happen? >> it can, and the reason it would would be if rates reach double digits on inflation. we've seen some mt. '70s before. the real question becomes, stuart, is how productive will the underlying economy remain. because if it stays within range, and it's actually a little high right now, it's post-second world war percentages, but the truth is that it's not extraordinarily high as a percentage of g can dp, but -- gdp, but if anything breaks in terms of product knit if

about this, and his answer really surprised me let me bring in mike braun member of the senate budget committeeery much for being here i know there is no love loss between mitch mcconnell and donald trump yet when i said to trump have you you going to deal working with senate all anti-trump the leadership there he goes i think mitch mcconnell is about to endorse me. do you think mitch mcconnell should step down? >> when it comes to all this let me give you a little context how we got where we are rick scott and i came in 2018 we joined two or three others mike lee, ted cruz, rand palm where you actually have a little bit of critical mass, 20 in 2022 we added at least doubled that contingent, we now have critical mass here in the senate. we can call conference meetings you can say stuff like ted did wouldn't surprise me if mccon kohl endorse trump he reads tea leaves in the political marketplace look at that when you look how we got they are on this issue, this started in october, and only reason we were talking about border, is the rule of 41 we never hung together, with 41 senators to get arou

we will see if they would support that and if they would work through the budget committees.egislation. wherever the congress goes, he would support that. the nc has done that in the past. we will have to get that for you. when it comes the right time for that story, we will find that picture and get it for you to illustrate. that is what we would do. it could be that our 2020 deficit report might be helpful as policymakers consider options. we do that deficit options report every two years. >> how much is out there? >> we will go back to john -- it is a really difficult issue. we don't have the real-time information on the backlog of claims and if any claims are withdrawn during the time when the irs halted processing. that is a challenge. >> we increased our projections as we participate under current law. those projections were created effectively in november. we really had no idea what was sitting on those pieces of paper. we had no idea what the future claims would be. the anticipated there would be much stricter scrutiny going forward. as a result, whether the pipeline

you were sitting as budget committee chair.ent when i was first appointed 16 years ago to this job and it a honor you are still on the dais as i step away from my role, so thank you for all our work together. it was deeply humbling and scary to be handed the keys by the mayor and the board to the controller's office. the house my predecessor ed harrington builts when i started in the role 16 years ago. it has been an honor to be in the work for the last 16 years working with all you, mayors, through good times and bad, and it fills me with great pride to know i'm handing the keys off now to someone else for a office that continues to be filled with just fantast people doing fantastic work. again, just thank you very much. it has been a honor. >> don't go away, ben. hold on one second. madam clerk, would read item 43 out of order? >> yes, mr. president. item 43, resolution to commend and honor ben rosenfield to san francisco controller and declaring february 29, 2024 as controller ben rosenfield day in the city county of san fra

our budget committee and the senate appropriations committee finished their job in july of last year to bring all those bill tots floor. they want this problem. stuart: yeah, but isn't the fundamental problem that you can't stop american politicians from spending money and that both sides of the fence. you really don't want to cut spending seriously, do you? because if you did, you get a recession and lose the election. sorry, being rather dogmatic here. >> i want a long term fix and we want to go back to budget act of 1974 that requires certain deadlines for the president to submit a budget. we haven't even finished this year's budget let alone work on next year's and past deadline for the president's budget for the next fiscal year and this is no way to run a business and no family runs like this as well and this is why i support a continuing resolution and a 1% cut and $100 billion saving ands stabilize this inflation issue. stuart: see how it goes and test coming up. senator marshal today in new york. why on earth do you come from new york. we welcome you. really. back to the mar