professor, when was the cbo formed? >> guest: 1974 in fact, in reaction to some of the perceived excesses of the nixon administration and part of the effort of congress to reassert its role of the budget process and as a part of that they created the budget committee and budget resolution of they are equal players of the process and they really needed to have their own budget agency as opposed to relying on the numbers from the executive branch and that is the reason for the cbot seven yes or no has been successful? >> phenomenal successful and i think the success was mostly measured that if you talk to most people in the media and if they are being honest on both sides of the aisle and congress that the congressional budget office concerning the budget probably has the most credible numbers are information out there. that was not a foregone conclusion and that necessarily was destined to happen and if you said to someone 1974 we will create a nonpartisan agency in the middle of the most partisan environment imaginable,

it counted on cutting out of medicaid -- >> we'll breakaway with the former cbo director and take you to c-span radio, our washington today program. >> two well-known muslim women in the u.s. to explore two distinctly different perspectives on the war on terror and shommic fundamentalists. one woman, somali born, fights against islam with her writing, while another was educated here in the u.s. is a strong proponent of jihad. debra scroggins discussion her book with the institute. debra job ins, wanted women, this friday 7:00 p.m. on afterward ward here on c-span radio. >>> under current law we expect this year's deficit will be $1.1 trillion. that's 7% of gdp that is 2 percentage points less than the deficit recorded last year but still larger than any deficit between 1947 and 2008. >> the announcement from the director of the congressional budget office announcing the dus is heading for the fourth straight year with a trillion dollar plus budget deficit gichb giving republicans more ammunition to go after the president in this election year. welcome to hour one of washington day on

that's the latest from cbo. the unemployment rate will inch up to 8.9% possibly 9.3 .by next year. the dow rising 3.5% for the month of january. nasdaq also up for the month. trader upbeat about some of the modest gains in the economy. >>> well, it's primary day in florida. the polls closing in one hour in parts of the state at 8:00 eastern throughout the rest of florida, early results of the exit polls showing that 7 out of 10 who voted today consider themselves conservatives. while most are concerned about the economy, a division over what to do over issues like legal immigration. nearly 4 in 10 say should the illegals should be able to apply for citizen ship. primary was moved up because florida wanted to have a key role in the nomination process. 50 delegates at stake instead of the normal 100 delegates. it is a winner-take-all. live coverage getting under way at 8:00 p.m. we're in florida for the speeches by mitt romney and newt gingrich and a chance for you to call in with your comments and what's next as we move into caucuses and primaries in february and super tuesday in ea

unfortunately the cbo operates with golden handcuffs. the cbo is never allowed to say two things about legislation. it cannot be law say that's not a good idea. it can be say that's never going to happen.

i think the main reason for that is because the cbo directors and also cbo staff figured out at a particular point in time that if they became viewed as just one more partisan voice in washington nobody would pay any attention to them and nobody really likes to work for an analytical institution that no one pays attention to so i think you know what makes them different is that they are viewed as nonpartisan and i think that is what gives them their influence but the minute they became viewed as just another partisan voice in washington i think they stop listening. >> host: we are at the university of maryland and talking with professor philip joyce, professor of management and finance who has also written his book the congressional budget office, honest numbers, power and policymaking published by georgetown university press. >> guest: thanks very much. booktv presents after words an hour-long program where we invite guest host to interview authors. this week, zbigniew brzezinski and his latest book, "strategic vision." and that the former national security adviser presents his foreign-poli

the problem is, cbo -- which i have my own problems with cbo -- cbo never will analyze that. small road construction project, the most jammed up intersection project in anchorage, alaska, now because of the stimulus money -- it is the most improved intersection for traffic flow in the city. why is that important? last time someone sat in a car, burning of fuel, burning up time they should be at work or taking their kid to the doctor or whatever it might be -- they become more productive. but that is a long-term impact that we have put out there. a telecommunications company built broadband to western alaska, which had no broadband and no capacity to enter this new world we live in. more individuals will be productive and bring products to market. more kids will have education. so every time i hear from people that the stimulus that did not do anything, it is flat- out wrong. problem is you cannot score those things or analyze those things because they do not want to hear about that. that is my rent for a second year, but there's a couple -- i thought this was an article -- if

i have instructed departments to have their own specific cbo in disman strategies. this effort is underway with meetings happening at public health, human services, and the office of economic and workforce development. we need more transparency by departments early on so we can all tackle the difficult budget situation together. thank you for bringing up this important question, supervisor campos and i look forward to working with you in engaging the partners, the leadership, and all san francisco residents regarding our important budgetary decisions. president chiu: our final question will be asked by our colleague from district 11, supervisor avalos. supervisor avalos: thank you and congratulations on your inauguration. my question regarding the l line down to city bart. you have to make several transfers to get downtown. the idea of going down to taking the 14 l to downtown city bar eliminates time and that was something that was advocated in something i have been talking about for a long time. i am happy to see that will be implemented soon. one of the missing p

the problem is, ceo -- which i have my own problems with cbo -- cbo never will analyze that.tion project, the most jammed up intersection project in anchorage, alaska, now because of the stimulus money -- it is the most improved intersection for traffic flow in the city. why is that important? last time someone sat in a car, burning of fuel, burning up time they should be at work or taking their kid to the doctor or whatever it might be -- they become more productive. but that is a long-term impact that we have put out there. a telecommunications company built broadband to western alaska, which had no broadband and no capacity to enter this new world we live in. more individuals will be productive and bring products to market. more kids will have education. so every time i hear from people that the stimulus that did not do anything, it is flat- out wrong. problem is you cannot score those things or analyze those things because they do not want to hear about that. that is my rent for a second year, but there's a couple -- i thought this was an article -- if i pronounce your la

speaker boehner said his plan called the $7 billion of the cuts of the 2012 budget, the cbo said the plan only produced a 2012 budget by a billion dollars, which of the numbers is correct? who cares? the $7 billion that john bowen recalls, quote, a real and forcible cut to the financial year 2012 represents what the government of the united states currently boroughs every 37 hours. in other words, between now and the time in the end of the week, we will have barletta back every dime of those painstaking negotiations savings. if the cbo scoring is correct that it would use as the 2012 deficit by just $1 billion, then the cut represents with the united states boroughs every five hours and 20 minutes. in other words, in less time than it takes to drive from my pad of state from the time it takes to watch harry potter and the deathly hallows part one and two with a bathroom break in between all of the savings of the painstaking negotiated plan would have been borrowed back. 7 billion or 1 billion. who cares who's right. that is the choice between dead or deader. the white house really en

the cbo said the plan only reduce the total budget i a billion dollars. which of the summers is correct? who cares? the $7 billion that john boehner calls quote a real enforceable cut to financial year 2012 represents what the government of the united states currently borrows every 37 hours. in other words, between now and, and ended the week, we will have borrowed back every dime of those painstakingly negotiated savings. if the cbo's score is great, that it reduces the 2012 deficit by just $1 billion, then the cut represents what united states boroughs every five hours and 20 minutes. in other words, in less time it takes to drive from ipad upstate and back him in the time it takes to watch harry potter and the deathly hallows parts one and two with a bathroom break in between, all the savings of these painstakingly negotiated plan will have been borrowed back. 7 billion or 1 billion? who cares who is right? that's a choice between dead or dead or. among shuffling back and forth between the cattle and the white horse, and the white house were real enfor

the cbo can't say yes. that cadillac tax that you claim you're going to impose, well, we saw that worked out during the legislative debate every time you said you want to do, the union said don't you dare. they kept pushing it further out and making it look less important or it may never happen but if so, what happens to the deficit? so there's a whole bunch of reasons to believe that the bill as written will not actually execute and will instead see something that instead of having $500 billion in cuts and $500 billion in taxes to pay for $1 trillion with the spending, will not get those cuts, not get those taxes. and even worse, the one place where i would disagree on a professional level with the cbo's analysis of the bill, i find it implausible that we will see only a tiny number of americans end up in the federally subsidized exchanges. it will be the case that people making as much as $70,000 will be eligible for subsidies of $7000, 10% of their income. and there will be so much money on the table tha

during our work together, the cbo's drafted principles the city should keep in mind when facing budget deficits and making difficult decisions on how we allocate our general fund. eight principles that recommended include, among others, prioritizing services that make -- meet the most basic human needs including housing, food, emergency response, access to health care, and income support. prioritizing services for the most vulnerable, and maximizing and minimizing reductions to services that leverage outside funds. the budget principles of our cdo partners drafted last year served as an important sporti

that is enough for many cbo director on any single morning. thank you for your patience and if there are any questions i would be happy to answer them. thank you. [applause] so i want a picture of this, my first and only standing ovation ever. [laughter] >> thank you doctor. we have time for one question. do you have time? the question is when the pp apa, what do you estimate the overall cost to study implement and run the exchanges will cost? >> study and implement the changes. you are looking at $100 billion. i'm not sure we can do it. i am quite sure that they cannot be done as written by 2014. there is i think a legitimate case to be made that they may not be doable as written and here is why. what we are asking is for hhs and the irs to each month in advance identify out of the 300 million americans those who are eligible for an insurance subsidy. deliver that subsidy to their current state of residence to the insurance company of their choice on the exchange and there is no way we can do that right now. that is just not doable. it's a le

looking at the cbo's snapshot of the economy.e next two years and says that real gdp is up 2% this year, and 1% next year and personal consumption expenditures up 1.2% this year, and 1.3% in 2013, and unemployment rate above 8% for the next two years and dropping to 7% by 2015. the economic wild cards in all of this, the faster u.s. growth and perhaps a positive or the possibility of worsening banking and fiscal problems in europe. back to you. >> all right. hampton pearson, thank you so much. >>> meantime exxon posting better than expected fourth quarter yields, but is this poising us for 2012? and is the stronger commerce sales a better stock buy than fed fedex? we have answers in just two minutes. [ male announcer ] we know you don't wait until the end of the quarter to think about your money... ♪ that right now, you want to know where you are, and where you'd like to be. we know you'd like to see the same information your advisor does so you can get a deeper understanding of what's going on with your portfolio. we know all th

at least based on the cbo numbers from last year, and i don't think they are too different coming out with the new numbers this year, according to the congressional budget office numbers, we could balance the budget by the year 2021 if we simply limited the growth of government spending to 2% a year. in other words, if you look at these so-called baselines as described in washington, the revenue baseline, and this, by the way, is the west virginia power point slide, the revenue baseline -- hope there's no staff from west virginia in here. it's a joke. we can say it's arkansas. [laughter] revenues increase by 6% or 7% a yearment maybe cbo is wrong and overestimating or underestimating. it's a con consensus forecast. revenues at 6% a year and spend and grow by less than that, by definition, you lower red ink, and according to the cbo numbers last year, if you limited the growth to 2% a year of spending, you solve the entire problem of red ink, and, of course, as mike, plained, red ink is not the problem. it's the symptom of the problem. the problem is big government. there's two things

the cbo said the plan only reduce the 2012 budget by a billion dollars. which of these numbers is correct? who cares? the $7 billion that john boehner recalls, quote, a real and forcible cut for the financial year 2012 represents what the government of the united states commonly boroughs every 37 hours. in other words, between now and the time and the end of the week it would borrow back every dime of the painstaking negotiated savings. if the cbo scoring is correct that it reduces the 2012 deficit by just $1 billion then the cut represents what the united states boroughs every five hours and 20 minutes as it takes time to drive upstate and back to and the time it takes to watch harry potter and the deadly hallows part one and two with a bathroom break in between all of the savings of the painstaking plan would have been borrowed back. 7 billion or 1 billion. who cares what is right. that is the choice between dead or deader. shuttling back and forth between the capitol and the white house were, quote comer really enforceable cuts of one to $7 billion. le

the mayor's office, complete the nonprofit cbo's who are struggling to stay afloat in being able to manage a growing population with less resources. certainly in the time that we have used over the last six weeks in preparing for this particular place, i have met with the secretary in the department of rehabilitation. i have said that i am proud that the san francisco jail system is one of the only counties in california that is under- crowded. we discussed the possibility of what you do with unused space. we are on the edge of our seats for prisoner realignment and we must be prepared for the influx of prisoners coming in the. but based on the smart choices of risk assessment in a partnership way and others, i believe that we will still remain with the unused space in the sheriff's department. i want to posit this notion that if we want to significantly address the uneven bridge of pre-custody and post-custody, someone in the system, when they are prepared to enter into society, after they have been released from incarceration, they do not have the job, the housing, or the proper tools fo

san francisco residents and apprentices registered with our work force system through one- stop and cbo's the we have contract with through the overall system. and manage apprenticed to the journey level status by the end of the project is one of our key goals, given the length of this project. for the in use side, we have negotiated at least 40 permanent entry-level hires per year over a five-year period. just to give some context, we actually had a working definition of entry level that had entry level defined as any position that would require a two-year degree or less, so they were non epa positions, and just to give further context, i think -- and here they were non ba positions, and their records indicate that about 70 per -- 70 of those fell in this definition of folks that were defined entry-level by a two-year degree or less. the requirements will roll over yearly, with a minimum of 200 hires in five years or until the requirement is met, so in other words, with in the first year, only 30 hires are achieved, the other 10 would roll over to the next year, so the number rolls until

i also want to let knowledge the efforts of the lgbt community and all of those cbo's that do work daily, delivering services and to the committee. so, again, thank you. [applause]

maybe cbo's run over to meeting or underestimating, but that's the consensus forecast. obviously if revenues are growing 67%, you can grow by less than that by definition of the cbo numbers last year if he simply limited the growth at 2% the year companies saw saw the entire problem. and as mike explained, writing isn't really the problem, a symptom of the problem. the problem is big government. even if it do to virtuous things at the same time by controlling the growth of government spending. what is obama can he do on tax policy? this chart rate here is you can't be because it's too far erasures the impact of double taxation. this is the importance for those of you watched the republican debate last night. gingrich and armey fighting with themselves about the capital gains tax rates should be. what this church loses degree type greenbacks as your income that you learn. then you have a blue box. you take tax on your income, up to 35%. the second green boxes are adequate tax income. to do two things you can do with your after-tax income? you can either spend it right aw

i also want to let knowledge the efforts of the lgbt community and all of those cbo's that do work daily, delivering services and to the committee. so, again, thank you. [applause] >> good morning, and thank you all for being here. i am district are preferred democratic leader nancy pelosi. she cannot be here today, but she did ask me to come to share some words and to express her data gratitude to mayor ed lee for his continued and outstanding leadership and continued commitment in the fight against hiv and aids. and also to supervisors winner, campos, and olague for all the work they're doing, the mayor is fantastic that, director of public health, thank you. thank you. she also wanted me to express her deep gratitude to all of the members of the community of hiv/aids service providers, some of whom are represented today, some we have lost in the last few years, but for their ongoing commitment in the fight against hiv/aids. here is leader pelosi's statement. "the fight against hiv/aids and for those fighting against this terrible disease has been one of my top legislative priorities f

the cbo one said, for instance, that the president's first stimulus package -- and they accounted forately would be a net drag on the economy. yes, they said you would have a short-term benefit, but that stimulus is now gone. the money is spent. the benefit, short term, is now gone, but we are carrying the burden of that debt still. so we are adopting policies that are leaving us weaker, not stronger in the long run. in the state of the union tuesday, president obama had a chance to tell the american people the truth about the danger we face. he missed perhaps his last opportunity to rouse the american people to make some tough decisions that will feel tough, but will not require us to salvage this government spending. i was discouraged about how little the president spoke of our mounting fiscal obligations. the super committee finally agreed -- as you know, only $2 trillion of production deficits, instead of the $4 trillion we have been told repeatedly is the absolute minimum. you have said you would like to see more. we will spend $45 trillion in the next 10 years, and we will add $

at least based on the cbo numbers from last year, and i don't think they are too different coming out with the new numbers this year, according to the congressional budget office numbers, we could balance the budget by the year 2021 if we simply limited the growth of government spending to 2% a year. in other words, if you look at these so-called baselines as described in washington, the revenue baseline, and this, by the way, is the west virginia power point slide, the revenue baseline -- hope there's no staff from west virginia in here. it's a joke. we can say it's arkansas. [laughter] revenues increase by 6% or 7% a yearment maybe cbo is wrong and overestimating or underestimating. it's a con consensus forecast. revenues at 6% a year and spend and grow by less than that, by definition, you lower red ink, and according to the cbo numbers last year, if you limited the growth to 2% a year of spending, you solve the entire problem of red ink, and, of course, as mike, plained, red ink is not the problem. it's the symptom of the problem. the problem is big government. there's two things

at some point, we have to take off the cbo blinders and get to work on this. we cannot burn $700 billion to $1 trillion a year and do nothing about things like hospital infections that kill people every year, run across, and are completely preventable. -- run up costs, and are completely preventable. it is a constant frustration. there is so much to be done, and it is such a bipartisan thing we could be doing. and hospitals and health-care systems, from kaiser in california to gundersen lewis in wisconsin to mayo in florida and minnesota all across this country are actually doing it and showing that it works. they are actually saving money by delivering better care, and yet, we have these budget discussions that operate in this artificial cbo universe and we never even take out on. -- take that on. that is concluded. >> [laughter] >> to determine what to say something? >> i always enjoy -- did the chair want to say something? >> i always enjoyed the thunderous presentation. i think you're right. >> i also want to talk about the housing predicament. for a long

and that's the slight dip from last year, and the cbo forecast 2% economic growth and up employment atbove 8% and home prices fell for the third in a row in most major cities and the biggest declines in atlanta, chicago and detroit. and the dow was down losing 21 and s&p 500 was off 2/3 and the nasdaq gained 2. one prominent roman catholic bishop says the obama administration is telling the church to quote, to hell with you. chief white house correspondent ed henry fills us in on what has sparked in religious furor. >> as president obama reconvenes his cabinet to try and keep the focus on jobs, catholic leaders are warning another issue may blow up in his face come november. >> when you push people of faith and you tell them that the government is going to knock down the wall and separates the church and state and overreach like the obama administration, you've got a war on your hands. >> new rules by the president's health care reform law will force catholics universities and charities, covering contraception, even though that violates church teachings. in an extraordinary mover. at c

. >> cbo congressional budget office says the average household pays about 9% in individual income tax last two presidents kept the rate low. clinton at 20%, and bush at 15% because it encourages job growth and help investment. but billionaire warren buffett who earns mostly capital gains and claims his secretary pays a higher rate than he does. >> we need a tax system that is fair. people who are wealthy shouldn't have a tax system that allows them to pay less than secretary. or someone making far less. >> research shows that is only true for small percentage of the millionaires. others say there is an easier way. >> mr. buffett's ability to do so, pay her the way he pays himself in stock. >> the romney campaign says it paid all taxes on income. in washington, jim angle, fox news. >> now to gingrich. he has released copy of work eagreement with freddie mac but the chief washington correspondent james rosen report, many people here were hoping for more. >> the 16-page document covers 2006 and lists $300,000 in fees. even though freddie mac contract with the gingrich group went on for y

are you serious in this -- the bush economy led -- have you tan a look at the cbo numbers?ot be the reason but you can't say $800 billion was not generates? >> i don't see anything in newt gingrich or mitt romney's economic plan. they want to go back to the exact same things that tanked the economy. that's not going to revive funding for nasa or anything else. >> look, this president hasn't had unemployment under 8% for 34 months it's been 8 1/2% or higher. that's a good record? >> we can go around about this. we've had -- we've created 2 million jobs between state of the union addresses. you know, that's a fact that you can't get away from. >> no, but since the beginning of his presidency we've lost jobs. and since -- we have never seen unemployment at this level for 34 months, 8 1/2% or higher. if you want to run that record and remember when harry truman won in november of 1948, and that's strategy that this president is using in terms of do nothing, unemployment was 3.8%. not 8.5%. >> you would have the president be responsible for the jobs that were lost in day he took

. >> the cbo a also says medicares going bankrupt in 2021. the trustees of medicare say there is a $37 trillion unfunded liability. if you look at our 2 reforms, which don'unt change any medicae benefit for a person 55 or above, and says for people 54 and below, when they retire, they'll have a list of guaranteed coverage options offered by medicare just like wu do in congress and federalfe employees have and we're not going to subsidize the wealthy as much as everybody else and subsides the poor even more. that saves medicare. that fixes medicare. put that in comparison to the president's health care law. this year he appoints 15 urgere elected, unaccountable people to a board and their job is to put price controls for rationing on medicare for current seniors. the president's law takes a half trillion dollars out of medicare to spend on obamacare, and now he's putting this new rationing board in place which will lead to design care to current seniors. if you want to compare plans, r our plan to save and shrink from the program, not change b

. >> cbo budget office says the average household pays about 9% in individual income tax so the government quite a bit more than the average american. >> still plenty to chew on here, shep. democrats are vowing to do just that. >> shepard: he had some investment overseas too, jim. there is somewhere a swiss bank account. what do we know about that? >> critics point to that swiss bank account which is 2010. investment funds headquartered in the kay men islands cayman islands and elsewhere. today the income was fully taxed under u.s. law even one liberal group conceded if romney paid all the taxes it's just like in connection with in the u.s. former irs commissioner said he found no indication of an effort to avoid taxes with critics saying romney should have released more returns and the president talk about inequality. don't expect this to go away even though almost half of american workers pay no income taxes at all. shep? >> shepard: jim angle in our d.c. newsroom tonight. for his part speaker gingrich has come under fire for his ties to troubled mortgage giant. last night newt gingrich