>>it's tough that literally will have no value to anyone else cbo says that he wants people to be aware of this crime because other trucks could be targeted. >>we need to know that this crime exists and that we need to stand up as a community not just burning man not just lgbt to this is san francisco. this our community and if we don't want this we need to do something about it. >>reporting in san francisco. dan thorn. kron 4 news. >>hopefully they can get their belongings back soon. well on to national news now the pentagon is moving more than $3 billion to pay for construction of the president's border, wall that means that other military construction projects are now being put on hold washington correspondent bree jackson has the details. >>mark warner says the trump administration is putting our national security in jeopardy by taking away this billion i've already allocated military funding does not make our nation safer, frankly it makes our nation less secure. warner tells me president trump is shifting $10 million from a cyber operations facility in virginia. >>to help build th

there will be an enormous savings and waiting for the cbo report to come springing from this in our jurisdiction on how those allocations will be fit. that money will be used whether hearing visuals, dental et cetera whether it's about getting more resources to the secretary's office so more drugs can be negotiated or saying 25 of the floor and would like to be the highest number possible on the highest cost rather to make the big difference in those drugs without competition. it is transformative so it's a good day and we think that the choices that were made by the members of the committee and i commend chairman and members and their staff for the work they have done. my staff as well to try to get the most effective way to get the job done and we do think there could be a strong bipartisan support for this legislation. we will take any questions on the subject. >> do you want and expect white house to buy in on this plan and how closely do you consult with them? >> yes, we do hope to have white house buy in because that seems to be the route to getting any votes in the united state senate and

in addition, the cbo economist have lowered their growth over the coming years and we know in any case close to it. there is no question, the ecb are worried about the economic outlook in the measures they have taken dojust outlook in the measures they have taken do just underlined that concern. i noticed there is no time limit on these measures. is that normal? certainly in the past this ecb has indicated with is quantitative easing the business of buying financial assets with newly created money. it set some sort of indication of the likely timescale. it has never tied his hands, it has been clear that if it thought it necessarily go beyond the timescale but this time there is no data mention at all. that is something i think that is an indication that the ecb want to make the financial market and indeed economic players more widely aware that it is going to continue with this kind of policy until it thinks it is that she would wa nt to until it thinks it is that she would want to achieve. latest on the us—china trade war. president trump has announced a delay to the introduction of

there are a number of cbos in the summer we can work with. a lot of them do serve our middle school students and are academically focused. but figuring out if those are sufficient or if we need to do something different can be a topic going forward in the steering community. >> i love a lot of the work that's coming out of the project-based learning. i'm wondering how can we share it because a lot of it is seeing it. it's great work you are doing and i want to see more of it. >> the other thing i was going to speak to was the health curriculum and how critical that is for middle school students. what i see when i visits schools around the type of behavior we see in the hallways. conversations that students are having that are very common in schools, so common that you let it go. so our health classes are a great place to start that. how we take it from class to the outside is a great opportunity for our schools, do you see the health classes play a role in that or what else needs to happen? >> most definitely. the health class is a way to sys

joe biden looked at 83 federal job training togethers, they spend hundreds of million, and cbo came upsaid, what they were doing is a waste of time, the government does not solve income inequality. >> you are right, government does not solve health care or student loistudent loans or deb. but there an environment and anger among populist that put bernie sanders in runs against hillary clinton, pushed donald trump over, he is trying to tap into. i think wit we've seen that in t debates, we've seen angry, bernie sanders, he is hoping to get the fire back. i think it might be too little too late. elizabeth: to senator elizabeth warren, saying, i hope we wrap up prime minister before 2020 vote -- impeachment before 2020 voting starts, why is she saying that? >> she wants to run on ideas. >> what are her ideas? >> ideas, single payer healthcare, open borders, socialism, those are ideas, democratic donor big money donors are freaked out about, that but nobody who is a them to democrat in 2020 who thinks they can win should show any interest in the impeachment proceedings. this seems like the

the gao and the cbo studied it saying the president can do this. supreme court, lincoln versus vigil says the president can do this. is it really about hypocrisy? >> they found a creative way, use an existing law from 1976, the national emergencies act to use existing funding to move it into the border wall project. this is much-needed infrastructure to deliver on his promise for a more secure america. this is something i give him credit for, gaining momentum for these plans that have been put in place for a couple years now. liz: they act shocked, shocked that this is going on. federal agencies have been doing this since it forever. so this one instance where the border wall is being built, it's not that it is news. federal agencies have been reprogramming spending of taxpayer dollars practically forever. >> we'll get a substantial durable barrier on the border. you can add access mobility to. then you add agents to the location. they will protect the border better and we'll get what we expect which is a secure border. >> the next case. let's move

i want to thank everyone who's here, all of the cbo partners, oewd, joshua, arsay. he was literally here at 9:00 sweeping with his team, fatinya homes, ground movement, shamon, asha. he's not lying about what he said. are you sure you want icy do it? he was, like, yes. so i thank you for leaving this in my hands and this is my way of thanking my father and grandmother for the work that they've done -- excuse me. [cheers and applause] >> to be able to do this in her honor is my way and honor to pay homage to those who have come before me and who have created pathways. i hope to create pathways for other residents in the omi like i had. i went to school in san francisco, born and raised in this community. i am so honored to be able to give back to the neighborhood that i grew up in and sorry for the tears, guys. at this time, i want to invite up my new boss, dionne j. bri dionne j. brickter. >> i work for gwenn and the entire district of district 10. i'm the executive director of young community developers. i always tell myself we have the best weather in district 10

see this donald trump trade war, he promised a great deal and what we are seeing is the opposite, the cboe congressional budget office reported each american household will lose $500 because of this frivolous trade war and that doesn't speak to the fact this trade war has hurt farmers, manufacturers and many american people in states that donald trump won in 2016. >> what economic feedback are you hearing from potential voters you are spending time with in nevada? >> so many voters are optimistic considering how well the economy is doing, seeing the regulation helping small businesses and putting money in american pockets and in addition to that, meeting voters and asking what are the most important issues to them in addition to the economy, they are concerned, women included especially, how to protect themselves if the left socialists are able to get what they want out of was being measured and offered. >> i'm not sure that is true. even among nra owners they want to see a ban on assault weapons, they want better background checks and mass shooters happening week after week to stop. last

in the august report, for example, 4 million more americans were employed than the cbo thought just a. but you're right. we've gone from 3% growth to 2.5% growth. so it has slowed a little bit. and then -- and i was really nervous that the slowing was going to accelerate. then we had this great industrial production number. we're basically booming still. everybody thought we couldn't grow more than two. the new normal was 1% growth and we've broken that pretty clearly. >> but what could hamper things, and i want your read on this is what's happening in the midwest right now because this is day five of the gm strike. 50,000 union workers not going to work. 10,000 american companies that supply those workers to do their jobs. center for automotive research says each hourly worker at gm results in three to four workers and suppliers. you've heard the economists that are saying, if this goes on for a month or two, this could plunge the rust belt into a recession. do you think it could? >> that strike is a very thing. and when i was the cea, we used to do careful estimates of this. the str

the cbo recently, the congressional budget office recently reported that each american household willd trump's privilege trade war and that doesn't speak to the fact that this trade war has already hurt farmers, already hurt manufacturers, and it's already hurt many american people in states that donald trump won in 2016. >> mike: we will see if he can get a deal, what kind of economic feedback are you hearing for potential voters that your spending time with aaron nevada? >> absolutely. like i mentioned, so many voters are very optimistic, considering how well the economy is doing. they are seeing deregulation, helping small businesses, also putting more money back in america's pockets and in addition to that, going out, meeting voters, seeing where they are at and asking them what are the most important issues to them, in addition to the economy, they are also very concerned, women included, women especially, about how are they going to be able to protect themselves if the left socialists are able to get what they want out of these wild gun reforms that are being measured and offere

the cbo found that american households lose up to $500 per household per year under donald trump's tradear and instead of talking about intellectual property, which is a real conversation, we are having a tit for tat with china over the price of soybeans versus the price of washing machines. >> martha: i think the intellectual property issue is the basis of the whole reason -- both >> and we still haven't found a solution to it. >> martha: charlie, what you say to that number? clearly the tensions over trade are putting a bit of a damper on president trump's economic revival. >> look, i just want to say thank you, richard, for complement and the president of the united states. never heard you do that before, thank you. secondly, -- i haven't heard it, but thank you for saying it. >> martha: i was just talking about the facts. go ahead. >> we are taught what economic conflict with china, there is going to be pain. i think the farmers of the country understand that with china dumping their products, whether it be steel, many of the other products that they've been dumping over the last ten

cbo in my estimation estimate is about 2.5% of usgdp will be available for defense in a cold war against a 40% soviet russia, we averaged over 6%, so we're going to average less than half of that against a set of rivals that is roughly 880% of our gdp. so in terms of scale, it seems as though the trends are negative. in terms. technical and operational dimensions, one of the things that senior leaders in the pentagon worry about is circumstances in which there could be a disruptive shift in the military about. all of a sudden things look very different, and we find that with the difficuefusion there are potentially two disruptive shifts in the balance that the u.s. military has to worry about. one is what the pentagon calls the maturing precision strike regime. we had a near monopoly and precision strike warfare since the first golf war. the chinese are clearly catching up. we haven't seen them put it into practice and certain a number of capabilities and what they have accomplished are impressive and so with our military, looking for the precision strike reseem we're losing a major mili

our last proposal, calls on congress to give cbo and geo and other policies the recess adversary of independent information. proposes include new responsibilities for these agencies so it's important that they have adequate resources. now, these five proposals will not yield a perfect budget process. however, we think that they could contain practical and achievable measures that can be developed further in the process of facilitated inform unbiased and sound decision-making. we believe our proposals were strong starting points for the committee which incorporates elements such as budgeting and the budget committee. in closing, i will offer shared a view among others and no single budget process reform or package reforms came by itself and prevailing dysfunction. the process reform alone cannot breach budget deals. will is needed, the process matters and a small or large changes through ownership for new expectations and norms were budgeting. right now, expectations are low and it's broken. as noted earlier, it's been 20 years since all appropriations i've passed prior to the start of the fisca

our second proposal requires cbo to produce a physical state of the nation report. it would be issued during the presidential election cycle and outline keith information about our finances including but not limited to long-term projections for debt, deficits, interest payments, revenues and spending, breakdown of all major revenue sources tax expenditures and essman shortfalls and long-term spending programs. this report would be widely distributed and provided, provide information in reader from the ways to allow non-washington insiders to better understand the budget. we believe this report would provide a full picture of the nation's finances, elevate discussions about the budget and help voters make more informed choices. our third proposal seeks to reinforce importance of the long-term effects the budget decisions. we propose every four years gao review portfolios of programs that involve long-term or intergenerational commitments. the reviews would cover programs such as education, health care or national security. our fourth propose is to strengthen the budg

but you want the cbo on it, right?t off, when you go to the store, don't you look at what things cost? david: of course. >> sanders, warren, cory booker, all of them, medicare for all. shouldn't we know what it's going to cost? i asked the congressional budget office what's it going to cost. you would think all those wonderful presidential candidates from the democrat side would want to team up with me and say we really want you to do it because they haven't done it yet. do any of them want to do it, no, because they actually don't want people to know what it's going to cost because then they have to answer whose taxes are going up. david: exactly. we saw liz warren, by the way, even stephen colbert, who is not known as a right wing extremist, pressuring her saying aren't middle class tax cuts -- aren't middle class going to have to have tax hikes as a result of this and she wouldn't say. if she does, by the way, i think we are going to have a walter mondale moment. remember in 19 -- was it 1984, when ronald reagan was

we're in a situation where we're facing -- is there anybody from cbo here? trillion dollar deficits. i've never heard of such a thing. and the debt to gdp ratio is going over one. we'll have more than one times gdp in our national debt. that's not a good place to start stimulus from. >> which is a gate segue into the next question. what advice would you give to governors and and state lawmakers going into the next recession if you think the federal aid may not be as immediately available or as generous as it was in the past? tom, do you have any thoughts? >> one would -- i think the governors talked about it. i would have a healthy budget reserve and i would build it into statute that -- at the state level, a certain percentage of the money coming in would go into your budget reserve. if you're the federal government, i don't know what you would do, but i would do something to incent states if they're not responsible enough to do that to do that. your best stimulus is to have them taking care of themselves and have money in place. the second thing i would --

11 months into the fiscal budget this year and we're running north of $1 trillion forecast from the cboion for the year there's no end in sight. congress continues to spin and look forward look at the campaign trail, what you see. it's all about spending. both sides, both parties at some point it's going to cause stress on the system and that means ultimately a weaker dollar the president wants a weaker dollar that's why he wants lower rates. he's asking the fed to continue to cut and cut aggressively, he wants to be on a global basis. that's what it comes down to i don't think the fed will give him that fodder unless thet progresses >> thanks so much. >> thank you. >> news on u.s. steel. >> wilf, that's right. down about 6%, company issuing fourth quarter guidance, larger than expected metal prices, pounting to deteriorating market conditions in europe that says will result in significant margin compression u.s. steel noting it's on track to reduce european head count by 2500 employees next two years. so far 1800 of those positions have already been eliminated u.s. steel down 6% rememb

state and local governments have roughly $5 trillion in Ãb cbo is in my estimation rosie estimate is 2.5 percent of us gdp will be available for defense during the cold war against the 40% soviet russia we average over six percent so we will average less than half that against the set of rivals that is roughly 80% of our gdp. in terms of scale, it seems as though the trends are negative. in terms of technical and operational dimensions one of the things senior leaders in the pentagon worry about his circumstances to which there could be a disruptive shift in the military balance, all of a sudden things look very different. we find that with the diffusion of technology to china, also advances in technology where they've set themselves some ambitious priorities, there are potentially two destructive shifts in the balance of the u.s. military has to worry about.one is what the pentagon calls the maturing precision strike regime. we had a near monopoly of precision strike warfare since the persian gulf war. the chinese are clearly catching up. we haven't seen them putting into practice b

theuth author of the piece, kennedy school dean, former cbo director why did you write this piece rightople to understand when good economic analysis says about our policy options good analysis says, yes, we have very high government debt and we will have to do something about that at some point, but at the same time if we hit a recession, we can shorten that recession, we can make it less severe by using fiscal policy, and we should do that. >> what type of fiscal stimulus do you have in mind? >> a combination of government spending increases and tax cuts can make sense we used a particular combination in 2009. if we had done more in that recession, it would have been shorter. more people would have kept their jobs or found jobs more quickly. we should do some combination of tax cuts and spending increases when we hit the next recession. >> doug, i suppose that you could talk about how the math works pretty well in terms of the government's borrowing capacity some are arguing that the government's borrowing capacity does not have an effective limit. on the other hand, the political rea

former cbo director under bush 43, doug holtz-egan. you read his piece in "usa today ".a very smart guy. i have known him for 20 years, love him dearly but what worries me about his comments, they may give cover to a lot of these multi-trillion dollar spending plans. >> yeah. i have to say i respectfully disagree with mr. fisher. this is not something that you should take lightly. there are really two arguments that he made. one is if you look back in the '80s we had some pretty big deficits and debt and that didn't seem to harm the u.s. economy. he should be very nervous about anyone who tries to equate that situation with this one. that was a situation where productivity growth was strong year after year after year, where the baby boomers were entering into their prime working years, women were entering the work force, the soviet union was collapsing. that's not the world we live in. we live in a world where baby boomers are retiring, it's getting more dangerous, not safer, there are more demands, and we live in a world where the entitlement programs are two-thirds of

we don't get the cbo tests, they do so we needed to form these kinds of, a line this data relationship so we can certify the student completed the program. we get examined the license for the certification. it took some changes on our part are there some complaints about the funding part quite sure but for the most part it is working. the legislature had increments of increased the funding for this program every year for the last three years and we still run out of money. that's how use the demand is among employers. if i might give an illustration to just drive home the fact. >> if you don't mind i only have two minutes left and i need to ask some other questions. i'm would be happy for you to send that to me. would you tell me what led you to get the duel enrollment programs off the ground and have you seen an uptick in enrollment as a result? and voir dire outcomes for students who take duel enrollment? >> they will continuing continuing college. the program, our mission is not just connections is a long-standing mission for us. if they come to save era and not its success as long a

cbo has said that. other reputable economists have said that.ds a financial crisis if we don't begin to deal with that $22 trillion debt. maria: yeah. >> look, we faced deficits in the past when i was in congress in the '80s and a '90s. we faced the same kinds of challenges but there was a bipartisan effort with presidential leadership to sit down and develop budget agreements that put everything on the table, everything on the table. and we negotiated those agreements and as a result of those agreements we balanced the federal budget. the problem today is neither side is really interested in sitting down and dealing with this challenge. maria: yeah. but when you were in the clinton administration, you were a moderate administration, really reaching across the aisle, trying to get the two sides together. we don't see a whole lot of that right now. what's your reaction to what's going on going into 2020? are you hearing any moderate economic plans, moderate plans for the future on the democrat side or is this setting 2020 up to be socialism versu

cbos bias the nation, rosie as to 2.5% us gdp will be available for defense during the cold war against 40% soviet russia the average, 6%, we will leverage less than half that against a set of rivals, roughly 80% of gdp. in terms of scale the trends is negative. in terms of technical and operational dimensions, one of the things senior leaders in the pentagon worry about his circumstances in which there could be a disruptive shift in the military balance. all of a sudden things look very different and we find with diffusion of technology to china and advances in technology where they set themselves some ambitious priorities, there are two directiviminish disruptive shift we need to worry about. one is what the pentagon calls a strike regime. we had a near monopoly of precision strike warfare in the first gulf war. the chinese are clearly catching up. we haven't seen them put it into practice but their capabilities and what they have accomplished. for our military looking at this precision strike regime we are losing a major source of military advantage. a couple of important questions,