carl smith from bloomberg news writes about congressional budget office productions on debt and deficit. some commentators worry by running large deficits now the u.s. is giving up future ability to boost the economy in a downturn. deficits should be the counter cycle, down in good times, up in bad. this suffers from the same fallacy as the one in favor of raising interest rates so they can be lowered later. it would make a recession more likely. if the u.s. does avoid a recession, it will be in part due to the boost provided by the deficit finance. guest: that is a short-term way to think about the nature of our fiscal situation. if we cut spending now, that might affect economic spending in the near term. we have strong growth now, low unemployment. if we are going to worry about deficit and debt, this is the time to do something about it. it does not have to be drastic. there are ways of reducing growth rates of entitlement programs and increasing federal --enue that could affect could allow us to have that room to respond to future economic crises. the federal government is at level

this headline from bloomberg news in a quote we had earlier from carl smith saying a trillion dollareficit may be what the economy needs. this past week, the fed chair, jerome powell, responding to the interest rate reduction by a quarter percent. he also talked about the debt and deficit. >> the overall -- [video clip] >> the overall economy is growing at a moderate rate, supported by a healthy job market and solid consumer confidence. business investment and exports remain weak. manufacturing output has declined. and traderowth abroad developments have been weighing on those sectors. we continue to expect the economy to expand at a moderate rate, reflecting solid household spending. strong market remains and the employment rate has been near half-century lows for a year and a half. the pace of job gains has eased but remained solid. we have expected some slowing. participation in the labor force by people in their prime working years has been increasing. wages have been rising for lower paying jobs. host: that assessment from fred chair jerome powell -- fed chair jerome powell. eco

the news hour on al-jazeera with me for a reminder of our top stories bolivia's opposition leader carl smith says president evo morales should not be allowed to stand for reelection his announcement came shortly after morale is reversed himself and agreed to new elections ickes ations that more honest rigged the count to secure a 4th term triggered widespread protests. in opposition leader kevin socog has been freed from house arrest but the treason charges against him still remain his release comes a day after sam rainsy the co-founder of the bonn band party arrived in malaysia from self-imposed exile in france and the iraqi government says a security crackdown is not the solution to curb weeks of protests that have led to the death of over $300.00 demonstrators but the government says they'll be tough punishment for those who do use violence hundreds of people have been injured during weeks of anti-government protests and the police have been criticized for their response. now 25 years after the signing of a peace treaty between jordan and israel the jordanian government has refused to ren

funding for overheard with evan smith is provi part by hillco partners, a texas government affairs consultancy, re the alice kleberg olds foundation,ers, claire and carl stuart, and by entergy. [evan smith] i'm evan smith. he's one of fiction's rising stars. hit novel "there there" was called "an american epic" by the new york times and has won raves from coast to coast. he's tommy orange, this is overheard. [smith] let's be honest. this about the ability to learn or is this about the experience of not having been taught properly? how have you avoided what has befallen other nations in africa? you could say that he made his own bed, but you caused him to sleep in it. you saw a problem andover . let's start with the sizzleakbs are you gonna run for president? f i think i just got anfrom yo. this is overheard. (audience applause) [smith] tommy orange, welcome. [tommy orange] thank you for having me. [smith] thank you very much for being here. wanna talk all about the book and talk all about you, but i wanna talk about the title of the book first. so i didn't actually get the reference until after that this is gertrude stein. [orange] mm-hmm. [smith] rig

funding for overheard with evan smith is provided in part by hillco partners, a texas government affairs consultancy, the alice kleberg reynolds foundation, claire and carlart, and by entergy. [evan smith] i'm evan smith. he's one of fiction's rising stars. his debut novel "there there" was called "an american epic" by the new york times and has won raves from coast to coast. he's tommy orange, this is overheard. [smith] let's beonest. is this about the ability to learn or is this about the experience of not having been taught properly? how have you a what has befallen other nations in africa? you could say that he made his own bed, but you caused him to sleep in it. you a problem and over time took it on. let's star wwith the sizzle befoget to the steak. are you gonna run for president? i think i just got an f from you, actually. this is overheard. (audiencapplause)

>>oakland school district smith walton was serving a s second years pta president the carl b monk elementary school. >>for years before wh her kids at the school. she was very active in the classroom, she was there helping out in the office, whatever the principal or anybody else on campusnew she was always there to someone who's very dedicated to her children d really to the entire counity. so this is a devastating loss for for that school community and ust. >>making a tragic story even worse is the fact that smith walton was 5 months pregnant when she was killed, weere waiting to see this baby barn and. >>coming to kindergarten going to karl mind. you know she was just a valule asset and one of my home like our daughters, our daughterere. at this point oakland police offering no information out possible spects source. >>if there is more than one or justne. they're also not making anyomment about a possible motive. live in oakland dan kerman kron 4 news. >>keep us posted there. thank you dan well, we took a closer look at crime statistics in oakland this year and found that hicides were up

>>oakland school district spokman john says psaki says smith walton was serving a second years pta president the carl b monk elementary school. >>r years before with her kids at the school. she was very active in the classroom, she was there helping out in the office, whatever the principal or anybody else on campus knew she was always there to someone who's very dedicated to her children and really to the entire community. so this is a devastating loss for for that school community and for us >>making a tragic story even worse is the fact that smith walton was 5 months pregnant when she was killed we were waiting to see this baby barn and. >>coming to kindergarten going to karl be mind. you knowhe was just a valuablasset and one of my home like our daughters, our daughter here. this point oakland police not offering any details abt possible suspects nor are ttey offering any mment about a possible motive. in oakland dan kerman kron 4 news. >>almost 4 months after the gilroy garlic festival some of the surviving victims filed a lawsuit again organizers. 3 people were killed 13 others were hurt. auori

smith, but says that there should be compassion with it. is that tax policy? speaker pelosi: tax policy could be -- carl: tax policy could be one redistributive tool, and there are lots of different channels or tax policy would be a big one and that is a very hot issue. david: talk about the timing of that. education policy sounds like it takes a wild. carl: it takes a long time. transfer payments, whether it is an unemployment benefit or tuition reimbursement can have a very quick impact on the economy. there are long-term gains from education funding, but very near term impact. david: bloomberg's economic .hief economist carl riccadonna on health care she talks about the bill and she cares a lot about this issue. speaker pelosi: one of the reasons we had a success last year was the concern that health care made our own environment and not just us. patient advocacy groups, middle lobbyists with 10,000 events held throughout the country about health care cost to individuals, families, etc. -- i welcome the debate. i think we should have health care care for all. i think the affordable care benefit is be