the cbo hires kids right out of college. we have 25 assistant analysts who come and make enormous contributions generally for 2, 3, four years, and then go on to another job or to graduate school. there are a lot of places in the federal government like that. there are's -- there are think tanks. there are lots of jobs on the hill. that's a great place to start. follow your interests, your passion, your interests, and just learn. your first job, make sure you learn something and then follow that where it goes. but there are lots of ways to contribute. don't let the partisan bickering dissuade you from entering public service because that is always going to be there and there are lots of ways to make a contribution. heather: that is a very encouraging note to end on. phil, thanks for your time and thanks to the bipartisan policy center for hosting this discussion which, unfortunately, we will probably have to have many times in the coming years. bill, we will toss it back to you. bill: thank you very much, heather. first of a

host: another viewer is asking about cbo itself.e projections always been accurate or inaccurate? guest: any type of projection has error in it. when the cbo projects the budget, the first thing they have to forecast is the economy. how is economic growth going to look going forward? right now, there is a great deal of uncertainty, because they know we are in a period where there is heightened uncertainty about a recession, so they have got to forecast the economy. then, on top of that, they then have to forecast the budget, given what tax revenues will be, would spending revenues will be from the economy. i think they are remarkably accurate. the following year, their accuracy is something within 2% of the overall number. remarkably accurate. there will be instances where they are wrong, because it was hard to forecast. but actually, they do remarkably well. one of the things they do is make their work public. that was a big push and continues to be a big push for cbo, to be as transparent as possible, so that if you don't like the

host: another viewer is asking about cbo itself.e projections always been accurate or inaccurate? guest: any type of projection has error in it. when the cbo projects the budget, the first thing they have to forecast is the economy. how is economic growth going to look going forward? right now, there is a great deal of uncertainty, because they know we are in a period where there is heightened uncertainty about a recession, so they have got to forecast the economy. then, on top of that, they then have to forecast the budget, given what tax revenues will be, would spending revenues will be from the economy. i think they are remarkably accurate. the following year, their accuracy is something within 2% of the overall number. remarkably accurate. there will be instances where they are wrong, because it was hard to forecast. but actually, they do remarkably well. one of the things they do is make their work public. that was a big push and continues to be a big push for cbo, to be as transparent as possible, so that if you don't like the

>> i cannot recall whether cbo gave it no score -- sen. boozman: it was not scored, it was not a cost. that was the congressional understanding that it would be at no cost. i am sure usda provided input to cbo concerning it, so again, we had a no cost score. yet, this cost $250 billion. i guess the question is who identified the thrifty food plan reevaluation as a means to increase the snap benefit levels? >> senator, that is not how the sequence occurred. he went about undertaking the evaluation -- sen. boozman: who is we? >> fncs. the secretary and i worked with the team in providing direction. we set forth and i believe we accomplished a sound evidence-based process to update the thrifty relative to those four criteria. when the team set about doing it, they found they could not update it without a current a cost in terms of theft and current price data, the food consumption and nutrients. sen. boozman: i have section 4002, you mention the food criteria. cost is not a part of this. cost is not a part of this. >> that is correct. sen. bo

cbo said that we will default in july if in is not taken care of. house speaker, has said there will not be a default but trying hard to get conditions on the table. some spending ideals that they all can follow. the white house is not playing so far. >> dana: the "wall street journal" headline the biden federal budget blow-out. the new cbo forecast shows the deep fiscal hole democrats have dug saying white house spinners are boasting that joe biden's presidency has been historic. they're right in a mere two years he mid wived the biggest expansion of government since the 1960s. as they continue to do that the money available for discretionary spending for all the programs you want to have gets smaller and smaller. >> of course. they'll have to cut it. it will continue to get smaller and if it doesn't it means much higher taxes for generations to come. so when they say things like we're leaving our children in a bad position yes, that's what it means. the bills have to be paid at some point. unless you talk about massive spending cuts or much higher

it goes to the way cbo operates. by statute, under the provisions of the budget act, for discretionary spending, would just use a formula. we take the discretionary spending and extend out with inflation by two different measures of inflation. the reason we don't want to make a judgment on what future congresses will do -- but i understand the premise of the question. can i say one more thing on that? december of last year, we put out a volume of budget options. with a wide range of tax revenues and spending. one of them was to reduce the defense spending. we understood that was not smart to do that. but it's just part of our completeness, to have that done. >> i remembered my second question. you talk about the impact of the inflation reduction act. is there now no deficit saving from that in the projection? or is it minimal? seems like you are saying the spending equals the [indiscernible] >> we haven't updated that estimate. >> ok. >> it's not a tricky one, but it's one that we explained in the cost estimate that

a new forecast from cbo, congressional budget office says the numbers just don't add up.enior congressional correspondent chad pergram explains. >> the debt ceiling gets hot at the hottest time of the year. the nonpartisan congressional budget office warns the nation could default between july and september. >> if the debt limit is not raised or suspended before the extraordinary measures are exhausted, the government would be unable to pay its obligations fully. >> the cbo also estimates that one of the most costly entitlement programs social security could be insolvent in a decade. president biden not budging. >> i will not negotiate whether or not we pay our debt. i will not allow this nation to default. >> republicans find this absurd. >> now he wants the debt ceiling increased but he doesn't want to talk about it. that's just childish to be honest with you. >> the president's suspension of student loan repayments during the pandemic added debt. >> the president has made this worse. the issue of the pause on student loans has cost our nation about $195 billion. that h

the cbo saying we have to cut spending or ad revenue.icans want to cut spending, president biden wants to add revenue. ashley: quickly, thank you very much. now we want viewers to take a look at this headline. it reads this is one of the greatest federal government scandals of all time, stephen moore joins us now. you are going after federal employees. explain the problem. >> great to be with you. for the president to be touting his fiscal accomplishments in his debt reduction when you are seeing massive increases in debt over a year is so outrageous i have steam coming out of my ear. they added $4 trillion of debt just since biden has been in office and he's claiming he's reducing the debt and one of the major reasons the debt is rising so quickly over the next 10 years is interest payments on the debt. in other words we are paying, we are a tiger chasing its tail, paying more and more taxes, more money to pay for that, it is in the same, it has to stop and i am angry about something else. ashley: i can see the steam. talk about federal

desk audits or just reaching out to a cbo periodically. so, the focus of the current city wide performance monitoring program is more of a fiscal monitoring program, which is why we focus our audit more on the actual monitoring activities. that may be performed outside of fiscal monitoring. as you pointed out the results are it various. so all departments have different monitoring activities that they use to monitor contracts. there is in the really a set way that departments can do it. they have all different programs. which director the types of monitoring they use but there is not a standard set for how it is done. >> and so core monitoring is the self assessment of those nonprofits? and then extended monitoring is you going for site visit. >> to best arnz your question i will turn it over to colleagues from city performance. who will better answer your questions. >> thank you. >> hi. good monk windsy lee, controller's office. >> i will start with taking our questions first and then we see if those are addressed in the presentation we p

the cbo report confirmed that -- what analysts have predicted for years, that those costs of providing social security and medicare to retiring baby boomers will grow rapidly in the decade to come. maybe it is those programs you see the need for a boost or cut. others mentioned the defense department. maybe there are more than either -- more programs as well, either should be receiving more money or should be cut. (202)-748-8001 for republicans, (202)-748-8000 four democrats, (202)-748-8002 for independents. paul in chesapeake, virginia. independent line. oh, let's go to james in washington, d.c. caller: yes, everybody is talking about going into debt. if we collect half the money we get to foreign aid back, we would be in right shape -- great shape. we borrowed money to give other people. why do you think we are in debt? we give more than we receive. host: foreign aid is where you would start? caller: foreign aid. we should collect money for this countries that we gave money to. host: what you think the benefit is in doing that? caller: we wouldn't be in debt. why do we borrow money t

. >> the cbo says the deficit will be 1.4 trillion this year.mates the debt ceiling hits in june. senate majority leader chuck schumer views treasury's date as the real date. neil? >> neil: thanks for that, chad. chad pergram. so what do we do? what constitutes our running against a wall and defaulting? douglas joins us, the former cbo director himself. doug, what would do it? what would define a default? >> a failure to make timely payments on interest or principal on u.s. treasuries. that's something that we've never done at a large scale. the concern here is that if they do not raise or suspend the debt limit, the treasury would be unable to sort the bills in to these are interest and principal and these are social security, these are medicare. which ones do we want to pay. instead, they're unable to pay them all and that would include treasuries. that's not to be trifled with. few things are more dangerous to the global economy than a default on treasuries. you can just imagine investors thinking i'm not going to get paid. let's dump the tre

summon has to ask the question with cbo report is this further monetized or not?that government is going to balance books. i assume. we haven't seen done that since clinton in 50s some since the question how are we going to deal is it next five years in terms of monetizing that foout debt coming in buddy carter what about that your reaction to numbers obviously, has triggered a big reaction for investors. >> well first of all, to the point about savings increasing i agree with over panel members i think a result of worry, result of people background concerned about the future, the very near future, i think they are saving because they are trying to get prepared, you know. this past valentine's day day first time that i ever had to give my wife a choice between a dozen he roses or dozen eggs i couldn't afford both. maria: . [laughter]. . >> economy that pad people are hurting out there when i am out in district people are telling me, now we hear about kids moving back home? and, and not moving out anymore? i mean, this is -- this is really a point of concern, but t

the cbo says if the u.s.ding track, the national debt will balloon to $52 trillion by 20 the 3 -- 2033. we are back with congressmen arrington and gooden. mr. chairman, i want to get your take on this cbo report. the u.s. is on target to add a staggering $19 trillion to the national debt in the next 10 years. the cbo warns that one way or another through tax hikes or spending cut, the country's fiscal course needs to be corrected. how will you correct it? >> well, you've got to rein in the spending, that's what's caused this unprecedented inflationary firestorm. it's also why the interest rates are going up, and we are going to the experience, most likely, a sustainedded recession. you've got to rein in that, and you've got to grow the economy, maria. that's -- you can't, you cannot step on the air hose, the supply of fuel that makes these, the wheels turn the on this economy. you can't pay people to stay home and not go to work, and you can't tax and regulate. regulation costs have gone up $400 billion. the

desk audits or just reaching out to a cbo periodically. so, the focus of the current city wide performance monitoring program is more of a fiscal monitoring program, which is why we focus our audit more on the actual monitoring activities. that may be performed outside of fiscal monitoring. as you pointed out the results are it various. so all departments have different monitoring activities that they use to monitor contracts. there is in the really a set way that departments can do it. they have all different programs. which director the types of monitoring they use but there is not a standard set for how it is done. >> and so core monitoring is the self assessment of those nonprofits? and then extended monitoring is you going for site visit. >> to best arnz your question i will turn it over to colleagues from city performance. who will better answer your questions. >> thank you. >> hi. good monk windsy lee, controller's office. >> i will start with taking our questions first and then we see if those are addressed in the presentation we p

i want to make one final note that a one-page datay summary s available on the cbo web site and provides a summary for economic and budget projections. and we have provided hard hard copies a thing for everyone here in the room. with that i'm happy to take questions. you can just tell me yourr name and outlet in my apologies if i don't recognize you after two years. thank you so much. >> rick from reuters. once everyone has a better handle in april to do think you will present a new assessment? >> we will. the report on the debt limit is regular report that we do and as we have more information on revenues we will make an update. it turns out that people with refunds tend to file electronically and people with payments tend to file on paper. not everyone but that's a tendency so and it takes the service at little bit of time d that's why there's a delay. >> i have two questions. the u.s. defense spending has fallen to its lowest level since 2052 and i'm wondering why [inaudible] and i had another question but i lost it. >> it's a good question and it goes to the way the cbo operates.. ..

so i think that the cbo report was too dire. long term, yeah, we got real problems. bond market can handle the deficit. >> and you say chances for fiscal restraint in this final deficit deal is 80% there will be some restraint you think? >> i do think so. i can't envision a scenario where there is nothing done to appease the republicans in the house at the very last minute, they will demand something and i think that that something will be fiscal restraint or maybe even a spending freeze. >> any chance that social security or medicare will be cut or tweaked somehow? >> i got to think it is zero. i think chances of social security changes are virtually nil. chances of tax hikes virtually nil. chances of defense spending increase, there will be an increase but not as robust as the last couple of years. >> so the debt ceiling just weeks arm really before people feel that. we have a long term problem and that is nothing being done to address the big drivers of the debt in the first place and i don't see anyway forward in washington talking about how to really do it. greg

cbo director phillip swagel on the math he says just doesn't add up and improves the odds of something bad going down. welcome, everybody i'm neil cavuto. let's get the latest from east palestine where you'll find lucas tomlinson. how do things looked to? reporter: neil, many residents we've spoken to already this morning voicing the same frustrations we just heard at the top of the show. ohio governor mike dewine wrap ped up a press conference where he explained why fema is not expected to come here to east palestine. >> fema is synonymous with disaster support. they are most typically involved with disasters where there's tremendous home or property damage. tornadoes, flooding, hurricanes. that's why we do not expect that fema will come to aerosols. >> now just yesterday, neil, senator j. d. vance says he doesn't want to see the federal government support as much as he wants to see norfolk southern pay up and doesn't want to make the american taxpayer pay. now epa chief michael reagan as you see touring aerosols yesterday. he spoke to the community and observed water being tested. he

so the context here as i was quoting the cbo on its analysis for a proposal from medicaid, and i wasetary, tom price, how that cut as defined by cbo didn't violate trump's campaign promise to never make such a cut. >> yeah, and really the issue here that it's a separate matter, jake. it's what was most confusing to me as we were talking about this, and this is something i spoke with senator scott about just two days ago. i expected him to say this because it's in a new ad where he's calling on president biden to resign. but what is happening here in theflation reduction act is that they reduced drug prices. basically the government can negotiate drug prices. so basically their spending money. and reducing money is not the same as reducing drug prices. it makes the provision more beneficial to those recipients. that was not the point of the interview was which was to talk itplan he proposed which he told me this morning does not believe a mistake. to rollout this plan that would sunset all this including medicare, including social security every five years unless it was authorized by

yesterday's cbo baseline projection shows the farmville nutrition programs, not the entire farmville, the farmville nutrition programs will cost more than $1.2 trillion over ten years which is greater than 80% of the totalrm cost of the bill. in fact according to cbo, we will spend more from 2022, i'm b sorry, 2023 to 2033 of the end we have in the previous two decades combined.li since the last farmville, the cost of the largest of these programs is supplemental nutrition assistance program were snap has grown by more than 94%. from $65 billion annually in 2018 to an expected $127 billion in 2023. the pandemic and inflation drove some of these cost increases but let there be no doubt the largest driver was the decision by the leadership of the food nutrition consumer services visionary to abandon the snap benefitsts by 21% to record high levels that are unsustainable. some will point to the provisions and update the food plan and the 2018 farmville is the basis for the action butnf congress never agreed to commit a quarter of a trillion dollars spending increase. as gao recently docu

and the reason i say that is because ongoing tax revenue according to the cbo this year is seven ando what asked administration would willfully choose to default on the debt rather than delaying payments to a vendor or manager of that nature? or something of that nature? so they characterize it this way so as to make republicans look unreasonable when republicans say we need to negotiate some spending discipline. paul: but, of course, wall street is also sounding the alarm here. they say, oh, well, you know, we're -- there's a risk of default. you're saying that the cash that comes in, and it keeps coming in. you know, revenue doesn't stop -- [laughter] >> right. >> paul: because there's a fight like this. it keeps coming in. the treasury would allocate that money, any rational treasury, to pay the bond 408ers and -- bondholders and, of course, some other people might not get paid, which is a different political issue, but it wouldn't lead to a default. >> there's no way there would be a default. the cbo numbers, the year we're in, net interest expense,s they're projecting 4.8 trilli

whether or not we can specifically see that chart from an cbo depends on the system that cbo is using and whether or not they are compliant with those federal standards. taking a look at our data here at dph, our top, not epic training partners include common spirit and dignity go health. chinese hospital, di vta dialysis center and the va. groups you would expect to see in san francisco that we would exchange with much the other big names that you might recognize, use that epic and thus didn't make our list. we'll close with a quote and take your questions. life doesn't make any sense without inter department znswer. we need each other, and the sooner we learn that, the better for us all. eric. >> thank you very much. before we go to any additional comments or questions from constituents do we have anyone on the public comment line? >> folks on the line, we are on item five. i don't see any hands but clause press star three if you would like to make comment. i'll wait a second to make sure you have time. there's no public comment. >> commissioners, any additional questions or comment

that's the new word from the nonpartisan cbo.he annual federal budget deficit over the next decade to close to $19 billion from a prior -- sorry, trillion -- as if it was only billion. joining us is phil swagel. we did $8 trillion since 2020. >>> it's hard for elelehman to understand, a, the extraordinar and b, what goes into being able to be exactly when we won't be able to use those extraordinary measures it has to do with tax revenue by saying july, you've giving guys to do more time they've said they're highly confidence, and after that, flect be highly confident. from july on, and it's -- you know, we go into the details, the outlay by budget line, by the timing of the yow lays, and then a projection of revenues. that is the key uncertainty, revenues the i.r.s. will start opening envelopes when the bulk come in april, early may, and we need to see the strengths of those revenues >> phil,i know you're nonpartisan, but when you hear the president say, under no circumstances will will there by negotiations whatsoever, and then

carolina will hold a rally in charleston, south carolina and at 3 p.m., the congressional house budget -- cboirector will outline the report and take questions. you can watch these affects live on c-span now, our free mobile video app or online at c-span.org. ♪ >> since 1979, in partnership with the cable industry, c-span has provided complete coverage of the halls of congress, from the house and senate floors to congressional hearings, party briefings and committee meetings. c-span gives you a front row seat on how issues are debated with no commentary, no interruptions and completely unfiltered. c-span, the unfiltered view of government -- your unfiltered vi of government. >> this morning on capitol hill, government officials testify on sentinel trafficking before the senate foreign relations committee. witnesses inclu the director of the white house office of national drug control policy and you ca watch live coverage at 10:30 a.m. easter on c-span now, our free mobile video app. >> all this week at 7 p.m. eastern, c-span is featuring encore presentations of q&a, our interview program will

cbo director alex wigle what outline report and take questions from the press live at 3 p.m.eastern on c-span, c-span now are free video at and a c-span.org. >> c-span now is a free mobile app featuring your unfiltered view of what's happening in washington live and on-demand. keep up the day's biggest events with live streams and flow proceedings appearing some u.s. congress, white house events, the courts, campaigns and more from the world of politics all at your fingertips. you could also stay current with the latest episode of "washington journal" and five schedule information for c-span's tv networks and c-span radio plus a variety of compelling podcast. c-span now is available at the apple store and google play. download it for free today. c-span now, your front row seat to anywhere. >> a group of reporters discuss their expenses dealing

notes last week the cbo is warning, that debt is about to explode, it is on course to reach a record% gdp by 2033. they are projecting social security to go insolvent, by 2035, senator. now i want to talk about the debt ceiling with you, but i also want to get your take on what you are going to do about it? and you've been a target, of the left attacks on republicans, for saying that you want to fix social security and medicare how do you plan to fix it are you planning to cut these programs? >> show a i have no interest in cutting benefits of social security and medicare we can fix it you do it companiess do it federal government doesn't want to have to do it here is what i say congress are thev very honest with american pb how to preserve medicare preserve social security but they don't want to, anybody that wants to keep raising debt ceiling, spending to oblivion hurting people they say they care about, what we've got to do is balance our budget start right now go through every line in the budget we pay for 77,000 federal buildings empty why do that? would you do that with your mo

that is more effective than getting it out to cbo and there is disparity now. like you know the organizations that do that work are smort and there is cbo's that have it not using it it isit sitting there. being smarter getting in the human beingeds of drug users needs to be the priority. >> thank you. and i think our goal today i know we are short on time we have many more sliding digging deeply in the w we are doing related to intensive case management a vital treatment compoint to supporting clointss who are housed and unhoused and dig nothing the data we are collect related to over dose response and prevention to which are significant investments by the ocoh committee demonstrating to you all the analytical work we are doing. we know the importance per budget decision making and top have data. the level of work. we recognize how vital the collaboration are. to ensure that people have the behavioral health support to ends homelessness and successful in housing. and druing the blank ajs was the goal i'm sorry we are short and defer to how you want to proceed

there are cbo grants, again which discussed here very frequently. these are services provided directly to clients by not for profit organizations under grants from das. there is materials and supplies budget. there is a tiny work order budget. this is money das pays to sf muni for paratransit services primarily. there are salaries, $46 million that fund das staff. there is fringe benefits which are fringe benefits for das staff. there are professional services and there are a lot of different rules about how we categorize the differences between professional services and grant services, but in this case this is mainly money spent with brilliant connors (inaudible) housing and are for the get care system. and then we also have aid assistance bucket which is relatively small but comprises items like the aps heavy cleaning budget, public conservative transportation budget, and aps emergency placement beds. each year the city develops a new forecast and they do it several times a year, but in the autumn they do it for purposes of informing the budget ma

the cbo forecast is looking at deficits widening to four or 5% of the next few decades.s a big problem for the u.s. because it means that debt is rising and rising and rising potentially on an unsustainable path unless something changes in the fundamentals or the budget. francine: we are tough words from janet yellen saying she sees higher yields in perpetuity if there's not a debt limit hike. are we talking about something like that potentially happening and how do you model it? shaan: the point is high interest rates do affect interest rates -- that makes it more difficult for the treasury to meet obligations. it is a challenge. we had to get used to higher interest rates and the treasury might have to consider how it approaches that. francine: does the ecb had the right policy? it is 50 basis points. they have telegraphed it. you cannot not to get the message. what if something were to change? shaan: we think they have the right policy for now. we had the terminal rate at 3.5%. 50 basis points as the next meeting is on the cards. even the world this week and we expect

we got this from the cbo. this is the latest outlook that they projected and here's what they're projecting. the national debt surpassing the chair by 2028 and 118% of the economy by 2033 will be debt and my favorite line here, this report should provide an important dose of reality for politicians making promises they cannot afford to keep. your reaction. >> i mean, i think that that underscores the fact that the leverage risk right now in the united states is held by the public sector and the government and the fed. the fed and the government have basically handed a big pile of capital to consumers and corporates. the risk resides elsewhere so, i mean, our view is maybe the risk is in class and u.s. treasury bonds. that's an area where you've really seen the asset blend. >> the place where you'll be the safest is the riskiest. the fed is in the process of unwinding and why aren't we more worried about that than layoffs happening in technology stocks. cheryl: or the pant that our debt will be through the -- f

the cbo's reports the government's taxes and spending programs remain unchanged. president biden is set to deliver remarks later in the hour both parties noted the other policies strategies would ldriv the debt wider ar a politically contentious order. >>> and people always used computers to try to get, or almost also, could this new wave of generative ai change the way trading is done? >>> plus, coinbase shares jumping today. even though the s.e.c. is considering it could threaten part of that company's business. bring you the news and get to the bottom of what's moving the stock when we return. the first time you connected your website and your store was also the first time you realized... we can do anything. cheesecake cookies? [together] the chookie! manage all your sales from one place with a partner that always puts you first. godaddy. tools and support for every small business first. >>> welcome back, everybody. the s.e.c. considering new rules regarding crypto, which could be a threat to companies like coinbase kate rooney has more >> hi, tyler s.e.c. look

look at these numbers on cbo.e talking about here, at the end of the ten years, and we just got this hot off the press, the deficit rises to $2.7 trillion. ok. but 1.4 trillion and 1.6 trillion and 2.7 trillion, as a share of gdp, the deficit rises up to 7% at the end of the period. total spending as a share of gdp holds at 24, up to 25%. historically, that should run about 19 or 20%, and there's no growth in the economy. stagnant economy, 1.8%, less than 2%. >> sandra: spending all this money and not resulting in growth. >> inflation rates are way too low, all the spending will push -- you are jamming money into bank accounts, no work requirements, federal will have to monetize it, and that's at stake, the debt ceiling is so important. they should do it as a continuing resolution and i think you are going to get a solid proposal from the budget committee. >> sandra: this week the president bragged about cutting the deficit in his first two years in office. we are set to hear from president biden any moment now as

the new cbo forecast fiscal hol dug.dent with a familiar deflection dance. >> president biden: let's be crystal clear about what is happening. if you add up the proposals of my republican friends have offered so far what they've offered. it would add more than $3 trillion to the debt over ten years. if republicans try to take away people's healthcare, increased cost for middle class families will push america into poverty. i'm going to stop him. >> harris: he calls them his republican friends. in "focus" fox business anchor david asman. he says republicans will come up with $3 trillion with more debt. he is coming up with $19 million more. liberal media don't talk about it. >> he is selling big government and government bureaucrats control the economy better than the private sector and has increased the role of government in our economy by 20% since he has been here. 20%. it will take a lot to turn it around. the house, the republican house will be able to stop a lot of the spending measures but through regulation he can

. >> now the cbo, again, not partis partisan, they crunch the numbers. >> we're running out of time.onger able to pay all of our bills. by july, so we got a dozen weeks here when you could see a situation where we're not being able to pay bills. what happens if we can't pay our bills? we'll probably pay the bond holders first so we don't destroy the american economy. you have ious for 67 million people that get social security. ious for active duty military. ious for hundreds and hundreds of federal contractors. and that would have a terrible effect on the economy, cause a recession and cause a loss of confidence in the u.s. overall. that's what happens in the very near term. they are saying that could happen in a matter of months. >> i was struck by what they said about the raising -- rising federal debt. and just what we're looking at here. >> so this was a number that was very dire, grim. this is a storm brewing. we know it's coming. if we do nothing, we will add $19 trillion to the national debt over the next decade. if we do nothing. and what are we talking about in washington?

irs that capability, by allowing those wealthy tax chiefs off the hook, according to the nonpartisan cbo, they are increasing the deficit and debt by well over $100 billion. so they don't care about that. what they want to do is slash important investments in the american people, and they want to do it behind closed doors. they want to get behind closed doors, as they did back in 2011, and they don't want the american people to know what they want to do. i'll close with this. there is a process for dealing with the budget. we are more than happy to talk about and negotiate the budget. sheldon whitehouse is chairing the budget committee. there is a budget resolution process. house republicans should pass a budget resolution, tell the american people what's in their budget, instead of hiding the ball and wanting to go behind closed doors. and they certainly should not be threatening the full faith and credit of the united states, which would devastate american families. i'm now going to turn it over to my colleague, senator catherine cortez masto. sen. cortez masto: my colleagues have been

. >> doug, you ran the cbo and know these relationships better than anyone. you have got a debt ceiling crisis looming. there are things that can screw up any soft landing. china is one. we have seen that today. whatever vladimir putin does. a debt ceiling crisis, if it goes off the cliff. a downgrading of the u.s. credit. >> yes. to be clear, there's no disagreement. i haven't heard anyone say we shouldn't raise or suspend the debt limit. >> i have heard some congress members say that. >> there's a disagreement about the future of the spending -- patterns. somebody will have to change the direction at some point. the question is whether this is the moment to make that deal. >> whether there's normal reaction where the president says, let's do it in parallel, you have a budget process. process. but does speaker mccarthy have the flexibility given the people in his coalition to make those kinds of compromises? >> we're going to find out. there's no question about it. the vote put everybody on notice that the margins are tight and this has to get done. so stay

as well as cbo's who are doing the work are going to close their doors and [inaudible] if this happenedmphis is the third in the nation for new hiv infections. it's first in the nation for age cases. a lot of these funds will main shove these counties efforts to counter the spread of hiv. and to repeat, this is hiv and pepsi testing, canceling, education, condom access, outreach to medical care, post exposure prophylaxis, pre-exposure prone full access. this is all basic stuff >> this is basic stuff basic things that people need for preventative services with us not expanding medicaid, people have less access to care the work that the cbo's do across the state is how these folks access the services. you talked about the grab mine the e.r. who was there about her she ended up getting tested by one of these programs if she had not been there and national cares had not been there she would've known about this diagnosis. and then that leads to more people contracting the disease. we've got to stop the spread of hiv and a.i.d.s. and this puts a stamp on us were unable to do our work. the doo

the washington post looks at the announcement from the cbo yesterday. they had this.he poor picture reflected in the recent uptick in federal spending, particularly after lawmakers approved new money to care for veterans and boost the military, as well as the persistent problem of high inflation and rising interest rates. the economic forces have made spending and borrowing more expensive for the government much as it has for millions of families nationwide. those factors are also expected to cause a further drag, resulting a halt to growth this year. a measure of the country's output with the economy rebounding next year as prices decline in on a planet rises. talking about those program programs youhink should be boosted or cut. (202)-748-80 for republicans, (202)-748-8000 for democrats, and indepennts (202)-748-8002. this is leonard leonard joins us from california on the line for democrats. caller: good morning. the internal revenue service needs to be boosted. they cannot handle the returns as it is right now. we need to make them bigger so they can go after thes