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Aug 25, 2019
08/19
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i do want to ask you what the congressional budget office is saying about the tariffs. it said the tariffs are costing the american families. quote, the trade barriers imposed since january 2018 reduce both real output and real household income. by 2020, they reduce the level of real u.s. gdp by roughly 3% and reduce average household income by $580. $580, larry. do you think americans can afford that? >> well, i probably quibble with that dollar amount that they have had. it wouldn't be the first quibble i ever had with the cbo. but let me just step back a moment. >> you said it yourself may 12th on fox news, quote, both sides will suffer. this is something americans are footing the bill for, whether you dispute the number or not. >> right. if you let me finish, i was going to acknowledge that, thank you very much. okay. virtually no question in our mind that the largest part of the economic burden of the tariffs has fallen on china.
i do want to ask you what the congressional budget office is saying about the tariffs. it said the tariffs are costing the american families. quote, the trade barriers imposed since january 2018 reduce both real output and real household income. by 2020, they reduce the level of real u.s. gdp by roughly 3% and reduce average household income by $580. $580, larry. do you think americans can afford that? >> well, i probably quibble with that dollar amount that they have had. it wouldn't be...
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Aug 22, 2019
08/19
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KQED
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the congressional budget office cited the impact of the two-year budgea agreemented last month that includesher federal spending. and while the directorf the agency says growth could be hurt over the long term, the near-term outlook isn't as bad t because of the consumer. >> we slightly upgraded our g estimate ofwth as compared to the forecast we made at the beginning of this year and that aswas on data showing pretty strong spding, especially by consumers. at the same time we see risks in the economy and our forecast has growth slowing in the second half of theea consumer spending we expect to subside a little bit in terms of its growth, and then business investment as wel >> the congressional budget office also warned that the economy could be stifled by further tariff hikes. >>> time to take a look at some of today's upgrades and down grades. we have a couple to tell you about tonight.ha i hawaiian holdings was downgraded from selto buy. citing risk to earnings with the addition of new flights to hawaii by rival southwest. shares fell about 25% to 210. red fas upgraded from buy to hold. t
the congressional budget office cited the impact of the two-year budgea agreemented last month that includesher federal spending. and while the directorf the agency says growth could be hurt over the long term, the near-term outlook isn't as bad t because of the consumer. >> we slightly upgraded our g estimate ofwth as compared to the forecast we made at the beginning of this year and that aswas on data showing pretty strong spding, especially by consumers. at the same time we see risks...
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Aug 21, 2019
08/19
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FBC
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connell, you know how this goes with the congressional budget office. democrats and republicans when they like the report put out by the congressional budget office they hold it up. they don't like the report from the congressional budget office, they say these economists are missing the mark. connell: they are out of their mind. there are parts you can pick out, like comment about growth, don't like deficit part. pick and choose. reporter: pick and choose. connell: point well-taken, mr. burman. reporter: we'll hear from the president shortly. connell: from the south lawn of the white house the president is speaking one note blake said we'll have play back for you from our fox producer as they take them in live from president trump, he made a comment on china will get at the love attention. it has this quote attributed to the president. quote, i am the chosen one, president trump just said with regard to china and he said i'm the one who had to take them on. similar in some ways what he had to say yesterday. i was out here to do a great job. nobody would
connell, you know how this goes with the congressional budget office. democrats and republicans when they like the report put out by the congressional budget office they hold it up. they don't like the report from the congressional budget office, they say these economists are missing the mark. connell: they are out of their mind. there are parts you can pick out, like comment about growth, don't like deficit part. pick and choose. reporter: pick and choose. connell: point well-taken, mr....
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expected to balloon to more than a trillion dollars in the next fiscal year the nonpartisan congressional budget office warns that federal debt is on an unsustainable course it says the budget deal signed into law earlier this month would increase deficits by $1.00 trillion dollars over the next decade the cvo is also projecting slower growth in the coming years means lawmakers will have to increase taxes cut spending or do both to put the brakes on spiraling debt our financial correspondent joins us from new york what does the deficit mean for the economy going forward. well especially if you look at the future if the u.s. economy should get into a recession or we see growth slowing quite a bit so what can washington do cutting more texas for example that would even balloon the deficit higher and we've seen it when us president donald trump took office early 2017 we saw this a mess of tax cuts and if you get less when then on the other side you get a greater deficit and this deficit would be even bigger problem if interest rates wouldn't be pretty low because otherwise the step would be even more expe
expected to balloon to more than a trillion dollars in the next fiscal year the nonpartisan congressional budget office warns that federal debt is on an unsustainable course it says the budget deal signed into law earlier this month would increase deficits by $1.00 trillion dollars over the next decade the cvo is also projecting slower growth in the coming years means lawmakers will have to increase taxes cut spending or do both to put the brakes on spiraling debt our financial correspondent...
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Aug 22, 2019
08/19
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. >> the president's flip flop coming as congressional budget forecasters say more red ink is to come. the congressional budget office now says the federal deficit will balloon to $960 billion this fiscal year, and average $1.2 trillion for the next decade. the president's most consistent economic message has been a contradictory one. today he insisted the economy is doing really well but he spent the week calling for a big federal rate cut, a move typically made when an economic dip is on the horizon. >> you will see a rocket ship. you will see -- if he does it we have a very strong economy. >> the whiplash in the west wing is widespread. >> i have an appetite for background checks. we will be doing background checks. now trump says he will push for background checks and claims he never told the nra he wouldn't even though he spent the week repeating their talking points. >> it is a trump talking point. >> sources tell cnn white house aides are working on gun control proposals for when congress returns to capitol hill. whether or not the support will waiver remains to be seen. as trump bobs and weaves between contro
. >> the president's flip flop coming as congressional budget forecasters say more red ink is to come. the congressional budget office now says the federal deficit will balloon to $960 billion this fiscal year, and average $1.2 trillion for the next decade. the president's most consistent economic message has been a contradictory one. today he insisted the economy is doing really well but he spent the week calling for a big federal rate cut, a move typically made when an economic dip is...
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to more than a trillion dollars in the next fiscal year the nonpartisan congressional budget office warns that the federal debt is on an unsustainable course it says the budget deal signed into law earlier this month would increase deficits by $1.00 trillion dollars over the next decade see below is also projecting slower growth in the coming years that means lawmakers will have to increase taxes cut spending or do both to put the brakes on spiraling debt. at the g. 7 summit in have barretts this weekend inequality is one of the major topics but inequality is not always about the poor and the rich it's also about men and women gender parity is seen by many economists as a foundation for prosperous and sustainable economy each year the world economic forum examines the divide between women and men in employment education health and politics and its global gender gap report according to this year's edition the most equal country when it comes to men and women it is iceland that has close over 85 percent of its so-called gender got next to other nordic countries the top 10 also features some
to more than a trillion dollars in the next fiscal year the nonpartisan congressional budget office warns that the federal debt is on an unsustainable course it says the budget deal signed into law earlier this month would increase deficits by $1.00 trillion dollars over the next decade see below is also projecting slower growth in the coming years that means lawmakers will have to increase taxes cut spending or do both to put the brakes on spiraling debt. at the g. 7 summit in have barretts...
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Aug 27, 2019
08/19
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FOXNEWSW
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all of this on the heels of a warning from the nonpartisan congressional budget office the budget blueprintld explode the deficit. senior capitol hill producer chad program has more on the numbers. >> the deficit is that because congress likes to spend but most americans do too. the congressional office revised its economic outlook after congress voted to terminate old spending limitations which kept some federal exposure that check. philip swift said the nation's physical outlook is challenging, the difference between what washington brings in and spends is a chasm at the highest level since world war ii. >> democrats do not care about the death but here's the problem. the only opposition party is the republican party and they don't care either. >> that is the problem. for every dollar of federal spending, $.70 goes toward entitlement, medicare, medicaid and social security. it is tough to touch those programs because the public likes that spending. of the remaining $.30, $.16 goes to the military. the only place available to cut is from the remaining 14 sense, that's the equivalent of a d
all of this on the heels of a warning from the nonpartisan congressional budget office the budget blueprintld explode the deficit. senior capitol hill producer chad program has more on the numbers. >> the deficit is that because congress likes to spend but most americans do too. the congressional office revised its economic outlook after congress voted to terminate old spending limitations which kept some federal exposure that check. philip swift said the nation's physical outlook is...
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Aug 22, 2019
08/19
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catherine, the congressional budget office today increased its estimate of the projected federal budget2020 fiscal year, it will be over $1 trillion and continue to rise over the next decade. these warning signs, they keep mounting. >> yeah, i mean, there are a number of reasons to be concerned. we're not about to tip into another great depression yet. i hope we don't. but there are a number of things that are worrying. i think what's interesting is that a lot of trump's shall we say stupid economic ideas seem to follow the same pattern that, that they start out with him saying, you know, don't worry, don't listen to the experts, whatever they've told you there won't be any pain. the trade war, you know, china's going to pay for the tariffs. the tax cuts, they'll pay for themselves. and then of course when we find out that that's not true, you hear from the white house and from his advisers, okay, okay, maybe there's going to be a little bit of pain in terms of higher deficits or farmers suffering or what have you, but you know what? it will be worth it. it will be worth it because even
catherine, the congressional budget office today increased its estimate of the projected federal budget2020 fiscal year, it will be over $1 trillion and continue to rise over the next decade. these warning signs, they keep mounting. >> yeah, i mean, there are a number of reasons to be concerned. we're not about to tip into another great depression yet. i hope we don't. but there are a number of things that are worrying. i think what's interesting is that a lot of trump's shall we say...
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Aug 25, 2019
08/19
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i do want to ask you what the congressional budget office is saying about the tariffs. it's saying the tariffs are costing american families. they wrote this in a new report, quote, the trade barriers imposed since january 2018 reduce both real output and real income. they raised the gdp by roughly .3% and reduced average real household income by $580. $580, larry. do you think americans can afford that? >> well, i would probably kwible with that dollar amount they've had. it wouldn't be the first kwquibe had with the cbo. >> you said it yourself on fox news, both sides will suffer. this is something americans are footing the bill for, whether the president will say it or not. >> if you let me finish, i was going to acknowledge that, thank you very much. there's virtually no question in our mind that the largest part of the economic burden of the tariffs has fallen on china, the largest part, perhaps by a ratio of 4-5-1. china had to slash currency value, slash prices, slash profits. they lost a couple million jobs in the last year, year and a half. supply chains and pr
i do want to ask you what the congressional budget office is saying about the tariffs. it's saying the tariffs are costing american families. they wrote this in a new report, quote, the trade barriers imposed since january 2018 reduce both real output and real income. they raised the gdp by roughly .3% and reduced average real household income by $580. $580, larry. do you think americans can afford that? >> well, i would probably kwible with that dollar amount they've had. it wouldn't be...
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Aug 22, 2019
08/19
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KPIX
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the congressional budget office hiking the deficits by $809 billion. market isn't quite as strong as originally believed. 501,000 fewer jobs in the u.s. than initially reported. nearly 2/3 of of the downward provision came from leisure retail and hosputality. this is the sharpest downward revision since 2009. >>> meanwhile the number of 401(k) millionaires has reach add record high. as of june 30th there were 196,000 plan participants with $1 million or more in their 401(k). that's up from 180,000 and 2018. the average worker should save 15% of their salary to financially prepared for retirement. >>> and a new report is raising concerned about plastic in drinking water. they found more microplastics in boddaled water than tap water. while they say they don't appear pose a health risk, it did say more research is needed to know how microplastics afect human health. got to keep pile ting to get up there. >> hey. got to retire early. >> save, save big. >> thanks. >> you got it. >>> still ahead, lost again to the sea. how the wreck of the titanic is decayi
the congressional budget office hiking the deficits by $809 billion. market isn't quite as strong as originally believed. 501,000 fewer jobs in the u.s. than initially reported. nearly 2/3 of of the downward provision came from leisure retail and hosputality. this is the sharpest downward revision since 2009. >>> meanwhile the number of 401(k) millionaires has reach add record high. as of june 30th there were 196,000 plan participants with $1 million or more in their 401(k). that's up...
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Aug 27, 2019
08/19
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FOXNEWSW
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all of this comes on the heels of a warning from the congressional budget office that the current blueprinthas more. >> the deficit is up because congress likes to spend. frankly most americans do too. the congressional budget office revised its economic outlook after congress voted to terminate old spending limitations with cap some federal exposures in check. the budget director said "the nation's fiscal outlook is challenging, noting the difference between what washington brings and then spends is now a chasm at the highest level since just after world war ii." physical hop rand paul of kentucky opposed the budget. >> democrats don't care. they don't care about the deck. here's the problem. the only opposition party we have is the republican party and they don't care either. >> that's the problem. for every dollar of federal spending, $0.70 goes toward entitlements, medicare, medicaid, social security. it is toxic for lawmakers to touch those programs because the public likes that spending. of the remaining $0.30, $0.16 goes to the military. if you want to cut that. that means the only p
all of this comes on the heels of a warning from the congressional budget office that the current blueprinthas more. >> the deficit is up because congress likes to spend. frankly most americans do too. the congressional budget office revised its economic outlook after congress voted to terminate old spending limitations with cap some federal exposures in check. the budget director said "the nation's fiscal outlook is challenging, noting the difference between what washington brings...
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Aug 13, 2019
08/19
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since 2016, collections of , forecasted by the congressional budget office. by the time trump leaves office, they will be up 13%. , spendingame period will be up by 20%. guess is here to talk about -- spending our guest is here to talk about. if him a call, (202) 748-8001 four republicans, (202) 748-8000 , for democrats and independents (202) 748-8002. do you get any attention from those on capitol hill on these issues? guest: we do. today i have a meeting to brief the office of management and budget at the eisenhower executive building. thanks to your show pedro and aher con -- programs, we put white spotlight on waste dong -- drawn corruption and it makes a difference. host: who do you talk to? guest: i do not have the contact names in my head but the senior officials. host: how does your organization get a meeting? guest: we have briefed omb over the last couple years on our work. we have briefed members of congress and u.s. senators on our work. because of our work federal legislation -- one in the house and one in the senate now. would bringouse transpar
since 2016, collections of , forecasted by the congressional budget office. by the time trump leaves office, they will be up 13%. , spendingame period will be up by 20%. guess is here to talk about -- spending our guest is here to talk about. if him a call, (202) 748-8001 four republicans, (202) 748-8000 , for democrats and independents (202) 748-8002. do you get any attention from those on capitol hill on these issues? guest: we do. today i have a meeting to brief the office of management and...
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expected to balloon to more than a trillion dollars in the next fiscal year the nonpartisan congressional budget office warns that federal debt is on an unsustainable course it says the budget deal signed into law earlier this month would increase deficits by $1.00 trillion dollars over the next decade the cvo is also projecting slower growth in the coming years means lawmakers will have to increase taxes cut spending or do both to put the brakes on spiraling debt our financial correspondent yens carter joins us from new york what does the deficit mean for the economy going forward well especially if you look at the future if the u.s. economy should get into a recession or we see growth slowing quite a bit so what can washington do cutting more texas for example that would even balloon the deficit higher and we've seen it when us president to donald trump took office early 2017 we saw this a mess of tax cuts and if you get less when then on the other side you get a greater deficit and this deficit would be even bigger problem if the yield so if interest rates wouldn't be pretty low because otherwise th
expected to balloon to more than a trillion dollars in the next fiscal year the nonpartisan congressional budget office warns that federal debt is on an unsustainable course it says the budget deal signed into law earlier this month would increase deficits by $1.00 trillion dollars over the next decade the cvo is also projecting slower growth in the coming years means lawmakers will have to increase taxes cut spending or do both to put the brakes on spiraling debt our financial correspondent...
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Aug 21, 2019
08/19
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CNBC
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td ameritrade. ♪ >>> welcome back the congressional budget office raising its forecast budget deficits lowering interest rate projections over the next decade that. doesn't seem to make any sense thcbo director saying the nation's out list is fiscally challenging. this is just one of the many changes since july we're also watching that rise in market volatility and session fears. david wessel is here david, i know that's a lot to mention, but let's just start with the cbo numbers today what do you think we learned from this update >> well, mostly cbo was just catching up with reality congress has decided to spend more money over the next couple of years than the previously law would allowed. and they increased their forecast for spending as a result you suggested that on one hand they say the deficit's going to be bigger because congress wants to spend more money. but on the other hand they moved down their forecast for interest rates quite a bit. they say over the next decade on average, short-term rates will be 50 basis points lower and long-term rates 80% points lower than they had
td ameritrade. ♪ >>> welcome back the congressional budget office raising its forecast budget deficits lowering interest rate projections over the next decade that. doesn't seem to make any sense thcbo director saying the nation's out list is fiscally challenging. this is just one of the many changes since july we're also watching that rise in market volatility and session fears. david wessel is here david, i know that's a lot to mention, but let's just start with the cbo numbers...
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Aug 23, 2019
08/19
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KRON
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this comes from the new projection by the congressional budget office its forecast says that the deficit will reach 960 billion this year. and in 2020 it will cross over trillion. observers say that the newly added spending measures are to blame for resetting earlier expectations from the white house budget office. >>tonight the security breach that happened too. thousands of people. of the popular product. movie pass. >>new study links earlier deaths to air pollution details on why and where you just between us, you know what's better than mopping? anything! at the end of a long day, it's the last thing i want to do. well i switched to swiffer wet jet and its awesome. it's an all-in-one so it's ready to go when i am. the cleaning solution actually breaks down dirt and grime. and the pad absorbs it deep inside. so, it prevents streaks and haze better than my old mop. plus, it's safe to use on all my floors, even wood. glad i got that off my chest and the day off my floor. try wet jet with a moneyback guarantee people around the world dating gluten can lead to trouble their bodies can han
this comes from the new projection by the congressional budget office its forecast says that the deficit will reach 960 billion this year. and in 2020 it will cross over trillion. observers say that the newly added spending measures are to blame for resetting earlier expectations from the white house budget office. >>tonight the security breach that happened too. thousands of people. of the popular product. movie pass. >>new study links earlier deaths to air pollution details on why...
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Aug 25, 2019
08/19
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you raised the study this morning out of the congressional budget office.re's also a study from jpmorgan chase if impletted this will cost $1,500 per consumer, eliminating any gains for middle class people from the tax cut if any exists. and it is hurting the sectors of the economy that he supposedly wants to go to bat for, whether it's ag or steel. u.s. steel declared a 70% drop in their market value as a result of these tariffs. >> you know what struck me about the clip you showed of trump. he looks depressed and demoralized. yeah, i always have second thoughts. why not? look, his economists have told him privately, we're slowing down. we're at some risk of really topping into a recession. his political people have told him his numbers have gone down, not up. this base play he made with the nativist rhetoric and on elijah cummings and the four congresswomen, he sees bad economic news coming and bad political news coming, and he's a demoralized guy. >> i don't see that at all. he hates being there. >> he does not like these kinds of things. >> you give him
you raised the study this morning out of the congressional budget office.re's also a study from jpmorgan chase if impletted this will cost $1,500 per consumer, eliminating any gains for middle class people from the tax cut if any exists. and it is hurting the sectors of the economy that he supposedly wants to go to bat for, whether it's ag or steel. u.s. steel declared a 70% drop in their market value as a result of these tariffs. >> you know what struck me about the clip you showed of...
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Aug 13, 2019
08/19
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KRON
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have swelled the gap between what the federal government spends and what it takes in the congressional budget officexpects the deficit to begin exceeding a trillion dollars a year. beginning in 2022. the white house moves to roll back regulations for endangered species what this means for northern california wildlife, including salmon. >>and if you're streaming us on kron on on the news continues during the commercial break >>our major changes on the way for the endangered species act the interior department announced the new federal rules will scale back regulations. the trump administration says this will allow the focus to be on the run wrist species, but environmentalists say the move could push more animals and plants toward extinction among other things. the overhaul includes changing how federal agencies consider whether species and habitats qualify for protection. critics fear this move could allow for more oil and gas drilling california has already promised to go to court and fight these changes to us now is john mcmanus the president of the golden gate salmon association, so of course you
have swelled the gap between what the federal government spends and what it takes in the congressional budget officexpects the deficit to begin exceeding a trillion dollars a year. beginning in 2022. the white house moves to roll back regulations for endangered species what this means for northern california wildlife, including salmon. >>and if you're streaming us on kron on on the news continues during the commercial break >>our major changes on the way for the endangered species...
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Aug 22, 2019
08/19
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the congressional budget office is boosting congressional offices by $63 billion.it's set to record a deficit of $960 billion. >> diane we hear that an instagram hoax caused some users to fear for their privacy. what are the details on this? >> so a meme was seen floating around yesterday claiming that instagram was changing its privacy policy rules saying the site now had free reign. now instagram's privacy rules state that all content shared unless the user adjust the privacy settings. >> all is good in insta world. always good to see you. >>> after 62 years, the chances of recovering a stolen purse are slim to none. margaret cohen's purse was stolen at her work place back in 1957. fast forward this year when a construction worker brought the purse to another employee who then showed it to his wife who made it her mission to find the purse's rightful owner. she posted images of the purse and its contents on facebook and it eventually got the attention of margaret cohen's son. >> never. i never thought anything would be recovered. >> i was really upset because i n
the congressional budget office is boosting congressional offices by $63 billion.it's set to record a deficit of $960 billion. >> diane we hear that an instagram hoax caused some users to fear for their privacy. what are the details on this? >> so a meme was seen floating around yesterday claiming that instagram was changing its privacy policy rules saying the site now had free reign. now instagram's privacy rules state that all content shared unless the user adjust the privacy...
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Aug 21, 2019
08/19
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KGO
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the nonpartisan congressional budget office reporting the federal deficit will reach $960 billion by september 30th. that's the end of this fiscal year. the deficit to reach $1 trillion in 2020, two years faster than expected. they cite president trump's tax cuts and an increase in federal spending. >>> there is still much more ahead on "world news tonight" this wednesday. the new shark attack. this time, a little boy on the east coast. lifeguards jumping in before he's rushed to the hospital, and what we've learned tonight. >>> walmart now tonight. it does involve ca, wh's behind this ige in fromhe rn the warning about cli change. and this evening, who the brazilian president is suddenly blaming for the fires. a lot more news ahead tonight. stay tuned. this is also mia's pulse. that her doctor keeps in check, so she can find balance. this is mia's pulse, and now it's more stable than ever. this is what medicare from blue cross blue shield does for mia. and with over 80 years of healthcare expertise, imagine what we can do for you. this is the benefit of blue. prpharmacist recommende
the nonpartisan congressional budget office reporting the federal deficit will reach $960 billion by september 30th. that's the end of this fiscal year. the deficit to reach $1 trillion in 2020, two years faster than expected. they cite president trump's tax cuts and an increase in federal spending. >>> there is still much more ahead on "world news tonight" this wednesday. the new shark attack. this time, a little boy on the east coast. lifeguards jumping in before he's...
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Aug 26, 2019
08/19
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FOXNEWSW
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meanwhile, i knew warning from the congressional budget office. the u.s.get deficit could hit $1 trillion by 2020 pair and outcome of the trademark meanwhile china laying down for this fiscal year so what's up for the administration? i want to bring in the congressional washington offer officer bills while on this. i thought this was one the more meaningful once we've seen in a long time and it says that we talked about this stuff is it happening a lot sooner. it $1.9 trillion, most of that of course coming from the budget that was passed. also some additional stimulus to the economy but also the economy not falling off a cliff. in 2020 to 20 to eight there, your office said we were going to wait an average of 1.8%. ironically higher than previous estimates are where are we in this country? >> thanks, charles paid we see growth slowing in the second half of the year but the first half of 2019 and 2019, the economy was strong. an appointment is low, wages are going, so the u.s. economy has been strong, we do see it slowing but from a pretty strong head star
meanwhile, i knew warning from the congressional budget office. the u.s.get deficit could hit $1 trillion by 2020 pair and outcome of the trademark meanwhile china laying down for this fiscal year so what's up for the administration? i want to bring in the congressional washington offer officer bills while on this. i thought this was one the more meaningful once we've seen in a long time and it says that we talked about this stuff is it happening a lot sooner. it $1.9 trillion, most of that of...
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Aug 22, 2019
08/19
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BLOOMBERG
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deficit, it's going faster than expected and the congressional budget office at president trump's trade war is a drag on the u.s. economy. up from an estimated $960 billion in the year ending september 30. in january the budget office forecasted deficit of $980 billion next year and did not seek topping $1 trillion since 2022. china is threatening retaliation against u.s. companies following washington's approval of an arms sale to taiwan. marks a for the f-16 shift in u.s. policy in beijing had warned against it before was given the go-ahead. it will take all necessary measures in response including the imposition of sanctions on american companies involved in the deal. china is warning that global business should toe the line on hong kong as protesters mark one commuters were finally attacked by gangs in the subway station. protestged a sit in in of police failing to arrive in scene- arrived at the before the attacks. there is a protest at u.k. consulate in hong kong to demand that britain step up efforts to free the staffers detained by china. theing has confirmed that employee was g
deficit, it's going faster than expected and the congressional budget office at president trump's trade war is a drag on the u.s. economy. up from an estimated $960 billion in the year ending september 30. in january the budget office forecasted deficit of $980 billion next year and did not seek topping $1 trillion since 2022. china is threatening retaliation against u.s. companies following washington's approval of an arms sale to taiwan. marks a for the f-16 shift in u.s. policy in beijing...
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Aug 21, 2019
08/19
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>> this is the congressional budget office, the congressional being what i'm emphasizing there, but nobody to care anymore about deficits, do they? >> no, they don't. for someone like me who has always been a fiscal conservative republican and open-trade republican, i'm very troubled by the trend. i'm troubled by it because of what it does to the consumers. drag on what is 70% of a lot of the economic force in our country is what it does to consumers. representing credit unions, i tell you, we are hearing that noise, that frustration just from our members 115 million members across the country, they're coming in, worried about their future, whether it's their job, living paycheck to paycheck they see the job going up because of the trade war there's some uncertainty as we talk about recession coming, the costs going up, period, makes them start worrying about whether or not they'll be able to make ends meet. so we do a lot of financial health and literacy and work with them, just working through some of these issues i see it as a leading indicator of the concern, from the consumers, and if
>> this is the congressional budget office, the congressional being what i'm emphasizing there, but nobody to care anymore about deficits, do they? >> no, they don't. for someone like me who has always been a fiscal conservative republican and open-trade republican, i'm very troubled by the trend. i'm troubled by it because of what it does to the consumers. drag on what is 70% of a lot of the economic force in our country is what it does to consumers. representing credit unions, i...
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didn't the congressional budget office say there are job losses connected to the minimum wage.the way is a stepping stone minimum wage. aren't millions' job losses affixed to this? >> the cbo said you will have somewhere around 3.4 million jobs lost. but the democrats don't care. they are into selling what they see as a just society. fit took effect like we saw in new york city, it will end up with more people on the government dole. they don't care about how it hurts. they are trying to win a campaign on something that's fairy dust. liz: we saw restaurants in san francisco laying off workers after their minimum wage went up. and other parts of california as well. the 2020 democrats are pushing plans for the federal government to redistribute wealth big time. watch this. >> my flagship proposal freedom dividend would put $10,000 into the hand of every adult. >> you get a $1,000 savings account. if kids know they have an interest bearing account as low as $500 their chance of going to college goes up. >> so many americans realized there is an injustice that continues to form a t
didn't the congressional budget office say there are job losses connected to the minimum wage.the way is a stepping stone minimum wage. aren't millions' job losses affixed to this? >> the cbo said you will have somewhere around 3.4 million jobs lost. but the democrats don't care. they are into selling what they see as a just society. fit took effect like we saw in new york city, it will end up with more people on the government dole. they don't care about how it hurts. they are trying to...
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Aug 21, 2019
08/19
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budget deficit is growing faster than expected and to congressional budget office as president trump trade war is a key drag on the academy -- on the economy. this is the year ending september 30. in january, the budget office forecast 980 billion dollars next year and did not see a topping $1 trillion until 2022. china is one in global business to toe the line on hong kong as protesters marked one month were violently attacked by gangs in the subway station. demonstrators set off fireworks to measures and staged a sit in in were violently attacked by protest of police fo arrive at the scene at the time of the attack or to prosecute anyone for the violence since. there was also a protest to --and britain step up beijing has confirmed a consulate employee had been given 15 days detention in the neighboring shenzhen for violating local regulations. stoking fears in hong kong that beijing is extending the judicial reach across the border. china is threatening retaliation against u.s. companies following washington's approval of sales to taiwan. the $8 billion deal for the f-16 marks a sh
budget deficit is growing faster than expected and to congressional budget office as president trump trade war is a key drag on the academy -- on the economy. this is the year ending september 30. in january, the budget office forecast 980 billion dollars next year and did not see a topping $1 trillion until 2022. china is one in global business to toe the line on hong kong as protesters marked one month were violently attacked by gangs in the subway station. demonstrators set off fireworks to...
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Aug 22, 2019
08/19
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the congressional budget office is now predicting the deficit will heech $960 billion and will reach $1 trillion for 2020. there is a huge spending package, too. adding to the heat is a two-year budget deal recently signed by the president. that deal set to raise government spending by hundreds of billions of dollars. the dismal forecast also comes as the president said his administration is weighing several tax cut proposals to help keep the economy moving. economists believe doing so would only further reduce the government's ref knvenue and ad the deficit. >> a deficit he promised to eliminate before coming to the office. the republican party returned to deficit concerns as was their platform. >> you have to wonder whether he looked at this number and said, this is perhaps why we can't cut taxes at this stage despite the fact that the economy's relatively healthy. we don't need tax cuts now. >> i think it was more an admission that, okay, the economy is not so hot. there's not been a concern. >> it could be record breaking. four years of increased deficits. if we see that it will
the congressional budget office is now predicting the deficit will heech $960 billion and will reach $1 trillion for 2020. there is a huge spending package, too. adding to the heat is a two-year budget deal recently signed by the president. that deal set to raise government spending by hundreds of billions of dollars. the dismal forecast also comes as the president said his administration is weighing several tax cut proposals to help keep the economy moving. economists believe doing so would...
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Aug 21, 2019
08/19
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the congressional budget office is upping this year's expressions of federal deficits.hey projected the deficit will exceed a trillion dollars next year. the office says its projections stem from recently enacted legislation that lifted the nation's debt limits and cuts to defense and nondefense programs. the stocks were up today. the on-going lawsuit by congress democrats against president trump over alleged final benefits from foreign sources was put on hold by a federal judge. the democrats -- a government watch dog group said the border has allowed criminals to go forward. >> the border agency violated the law for a decade and compromised public safety after failing to implement a dna screening program for dna migrants. it allowed subjects accused of violent crimes including homicide to elude detection even when detained. this is an unacceptable dereliction. law enforcement mandate. under the law they are required to collect dna from individuals in custody and compare it against dna in the fbi's violent crime database to remove them. the obama administration put the
the congressional budget office is upping this year's expressions of federal deficits.hey projected the deficit will exceed a trillion dollars next year. the office says its projections stem from recently enacted legislation that lifted the nation's debt limits and cuts to defense and nondefense programs. the stocks were up today. the on-going lawsuit by congress democrats against president trump over alleged final benefits from foreign sources was put on hold by a federal judge. the democrats...
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Aug 22, 2019
08/19
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a good deal for college students but not everyone else because the congressional budget office, a nonpartisanprojects a 306% billion dollar cost to taxpayers due to student loans. the vicious cycle keeps going on. this little girl doesn't take nature for granted. park rangers sharing an apology note from a child who stole a rock from national park. >> she loved smoking the park so much she wanted a souvenir. not only did she mail the rock back to north carolina but she included a donation. >> park rangers thanked her for honesty, shared the note online. it is going viral. you are not allowed to take anything from hawaii because otherwise bad things happen to you. >> it is 46 after the hour. terrifying moments on the tarmac when the planes gives off the runway and explodes into flames. how 10 people managed to escape without a scratch. >> an army veteran beauty queen kicks out of a pageant for being a conservative but she's not going down without a fight. she joins us live next. these folks don't have time to go to the post office they use stamps.com all the services of the post office only ch
a good deal for college students but not everyone else because the congressional budget office, a nonpartisanprojects a 306% billion dollar cost to taxpayers due to student loans. the vicious cycle keeps going on. this little girl doesn't take nature for granted. park rangers sharing an apology note from a child who stole a rock from national park. >> she loved smoking the park so much she wanted a souvenir. not only did she mail the rock back to north carolina but she included a...
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Aug 23, 2019
08/19
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report fromat the our congressional budget office, it is not my analysis, it is their analysis.adily increasing. something we need to address. it is something we should address. vonnie: it seems to be out of vogue to address it right now. why is that? how has politics changed to allow that to happen? >> you know, we talk economics, but economics are shaped by politics. the politics are causing some decisions that most economists would not recommend. needs: the usmca still some approval at a congressional level. when do you anticipate that will happen? >> i think it will be hard to happen this year. we have very few legislative days after congress returns from its summer recess. the congressional calendar is quite full. year, closero next to the 2020 elections, that is going to be a hurdle. i think people are becoming less optimistic. know, hasstration, i tried to work with the congress, and speaker pelosi has formed a working group of democrats to work with the u.s. trade representative, bob lighthizer. if they can get the changes they want through one manner or another, it migh
report fromat the our congressional budget office, it is not my analysis, it is their analysis.adily increasing. something we need to address. it is something we should address. vonnie: it seems to be out of vogue to address it right now. why is that? how has politics changed to allow that to happen? >> you know, we talk economics, but economics are shaped by politics. the politics are causing some decisions that most economists would not recommend. needs: the usmca still some approval at...
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Aug 13, 2019
08/19
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since 2016, collections of , forecasted by the congressional budget office.the time trump leaves office, they will be up 13%. , spendingame period will be up by 20%. guess is here to talk about -- spending our guest is here to talk about. if him a call, (202) 748-8001 four republicans, (202) 748-8000 , for democrats and independents (202) 748-8002. do you get any attention from those on capitol hill on these issues? guest: we do. today i have a meeting to brief the office of management and budget at the eisenhower executive building. thanks to your show pedro and aher con -- programs, we put white spotlight on waste dong -- drawn corruption and it makes a difference. host: who do you talk to? guest: i do not have the contact names in my head but the senior officials. host: how does your organization get a meeting? guest: we have briefed omb over the last couple years on our work. we have briefed members of congress and u.s. senators on our work. because of our work federal legislation -- one in the house and one in the senate now. would bringouse transparency
since 2016, collections of , forecasted by the congressional budget office.the time trump leaves office, they will be up 13%. , spendingame period will be up by 20%. guess is here to talk about -- spending our guest is here to talk about. if him a call, (202) 748-8001 four republicans, (202) 748-8000 , for democrats and independents (202) 748-8002. do you get any attention from those on capitol hill on these issues? guest: we do. today i have a meeting to brief the office of management and...
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Aug 22, 2019
08/19
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. >> reporter: the president's flip-flop coming as congressional budget forecasters says more red ink is to come. the congressional budget office not says the federal deficit will balloon to $960 billion this fiscal year, and average 1.2 trillion for the next decade. the most consistent economic message has a contradictory one. today he insisted the economy is doing really well, but he spent the week calling for a big federal rate cut, a move typically made when an economic dip is on the horizon. if he does it, you'll see a rocket ship. if he doesn't, we have a very strong economy. >> reporter: the whiplash in the west wing is widespread. >> i have an appear tide for background checks. >> reporter: now his he will push for back ground checks, saying that he never knoll the nra he wouldn't. >> it's a trump talking point. >> reporter: toe -- -- what the president will support and whether or not that support will waver remains to be seen. as trump bobs and weaving between controversies, two of his top advisers are noticeably missing in action. following a weekend vacation in wyoming, jared kushner and ivanka trump have remained un
. >> reporter: the president's flip-flop coming as congressional budget forecasters says more red ink is to come. the congressional budget office not says the federal deficit will balloon to $960 billion this fiscal year, and average 1.2 trillion for the next decade. the most consistent economic message has a contradictory one. today he insisted the economy is doing really well, but he spent the week calling for a big federal rate cut, a move typically made when an economic dip is on the...
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Aug 21, 2019
08/19
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the congressional budget office reviewing the full year 2020 u.s. deficit. what they are saying is the deficit is going to top $1 trillion. that is a couple years earlier than originally anticipated, and may have an impact in terms of what happens when it comes to 2020 elections and the kind of politics we could see around that, and potentially could have an effect in terms of the president's ability may be to push through some more fiscal policy in advance of that 2020 election. vonnie? vonnie: we have are publicans complaining about the deficit for a long time, which is an interesting shifting strategy. this puts added pressure on the gop to start talking about this once again. guy: yeah, and everything to do with the budget, obviously, gets political pretty quickly. that will only get amped up in advance of the election. you look at the fiscal side of the equation, it is going to be part of the conversation that happens at jackson hole, where we are going to be seeing economists gathering, investors looking for signals us to where we go next with the glob
the congressional budget office reviewing the full year 2020 u.s. deficit. what they are saying is the deficit is going to top $1 trillion. that is a couple years earlier than originally anticipated, and may have an impact in terms of what happens when it comes to 2020 elections and the kind of politics we could see around that, and potentially could have an effect in terms of the president's ability may be to push through some more fiscal policy in advance of that 2020 election. vonnie?...
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Aug 22, 2019
08/19
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that is what the congressional budget office says the u.s. that will widened to, two years earlier than expected. the federal debt is unsustainable. it will be the first time it has exceeded the $1 trillion mark since 2012, when the u.s. was recovering from the financial crisis. deutsche bank's timing the way it fills vacancies. division heads now have to ask for approval from the chief executive. the memo, seen by bloomberg, says only critical roles should be submitted. it comes as the lender is going through its biggest restructuring and memory. this is bloomberg. nejra: thank you so much. coming up, we are live from jackson hole. don't miss our interview with a host of fed presidents. when we look at that rundown, is the fed's unity frank? -- fraying? that is the biggest thing that comes to mind. what is the homogenate the of the fed? tomorrow is another stellar lineup. the tv and radio team combined. bloomberg. ♪ nejra: let's get a check in on the markets in asia. muted here iny asia. we do have a little bit of weakness on the asia-pacifi
that is what the congressional budget office says the u.s. that will widened to, two years earlier than expected. the federal debt is unsustainable. it will be the first time it has exceeded the $1 trillion mark since 2012, when the u.s. was recovering from the financial crisis. deutsche bank's timing the way it fills vacancies. division heads now have to ask for approval from the chief executive. the memo, seen by bloomberg, says only critical roles should be submitted. it comes as the lender...
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Aug 16, 2019
08/19
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i think there is like consistent of objective analysis by the congressional budget office that shows that program worked well. the important insight here is that pretty much the only response you can expect from administration like this is going to be like cutting taxes as oppose to more direct. i offer a quicker acting more effective stimulus program. it has not done any of the things i promised. >> why would the administration be thinking about this? jared, i am not an economist, the fact that just because of the length of this expansion, one has to think about a recession. one has to have a plan for recession. i know regular people had nothing to do with government. i know business does not have a plan for a recession. why would the administration does not have a plan to think about approaching this. >> they're thinking about buying greenland. >> in my point is that they're busy. trump himself is busy tweeting out all kinds of nonsense and starting this fight and that fight. it is anything, economic initiative is a trade war that's been essentially all pain and no gain and is play
i think there is like consistent of objective analysis by the congressional budget office that shows that program worked well. the important insight here is that pretty much the only response you can expect from administration like this is going to be like cutting taxes as oppose to more direct. i offer a quicker acting more effective stimulus program. it has not done any of the things i promised. >> why would the administration be thinking about this? jared, i am not an economist, the...
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Aug 21, 2019
08/19
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budget deficit is growing faster than expected, and the congressional budget office says president trump's trade war is a key drag on the economy. the shortfall is set to widen to one trillion dollars by fiscal 2020, up from an estimated $960 billion in the year ending september 30. in january, the budget office forecast that visits of $980 billion next year and did not see it topping $1 trillion until 2022. china is warning global business to toe the line on hong kong as protesters marked one month since commuters were violently attacked by gangs at a subway station. demonstrators set off fireworks think wishers and staged a sit in in protest at police failing to arrive at the scene at the time of the attack or to prosecute anyone for the violence since. there was also a protest at the u.k. consulate in hong kong to demand britain's [indiscernible] a consulateirmed employee had been given 15-day detention in neighboring shenzhen for violating local regulations. the case is stoking fears in hong kong that beijing is expanding its judicial reach across the border. china is threatening retal
budget deficit is growing faster than expected, and the congressional budget office says president trump's trade war is a key drag on the economy. the shortfall is set to widen to one trillion dollars by fiscal 2020, up from an estimated $960 billion in the year ending september 30. in january, the budget office forecast that visits of $980 billion next year and did not see it topping $1 trillion until 2022. china is warning global business to toe the line on hong kong as protesters marked one...
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Aug 21, 2019
08/19
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the terrible numbers that came out of the congressional budget office are no surprise because they'rell self-imposed of a number of tax and spending policies that have come out since president trump has been in office. the past two congresses have really done a ton of damage. but the fact it's no surprise is no less troubling. we're at a time of economic strength, regardless of whether the economy is weakening or not. we're coming off a very long expansion, and that's when your deficit is supposed to be improving, and yet it's gotten worse and worse. we have cut taxes in an incredibly irresponsible way and we follow that with two rounds of spending cuts we didn't pay for either, all piling on the national debt. >> when you go into a recession, which inevitably happens, you tend to spend more. we can agree or disagree, some people disagree on the last round of stimulus in 2008 but the fact is most people think you spend then and you reduce your deficit in good times. we didn't. >> well, yes. let me say i certainly agree when the economy turns down, you want to be able to use fiscal sti
the terrible numbers that came out of the congressional budget office are no surprise because they'rell self-imposed of a number of tax and spending policies that have come out since president trump has been in office. the past two congresses have really done a ton of damage. but the fact it's no surprise is no less troubling. we're at a time of economic strength, regardless of whether the economy is weakening or not. we're coming off a very long expansion, and that's when your deficit is...
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Aug 22, 2019
08/19
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. >> reporter: the congressional budget office projects the federal government will run a deficit ofbillion in 2019, raising their projection by $63 billion. over the next decade, the cbo says the annual deficit will run roughly $1.2 trillion on average. back to you in new york. cheryl: president trump has been attacking the federal reserve for not cutting rates faster but minutes from the fed's last policy meeting show the numbers were actually -- members were actually divided over whether a rate cut was necessary. they saw the cut as more of a mid-eymid-cycle adjustment. we did see markets tip down a little bit lower on that yesterday afternoon. programming note for you, edward lawrence will sit down with kansas city's fed president, "mornings with maria," 7:30 a.m. on fox business. lauren: breaking overnight, this comes from china, they're warning washington that the planned tariff hikes will, quote, lead to an escalation of economic and trade friction. the trump administration postponed tariff increases that were set for september to december but others are still set to go into e
. >> reporter: the congressional budget office projects the federal government will run a deficit ofbillion in 2019, raising their projection by $63 billion. over the next decade, the cbo says the annual deficit will run roughly $1.2 trillion on average. back to you in new york. cheryl: president trump has been attacking the federal reserve for not cutting rates faster but minutes from the fed's last policy meeting show the numbers were actually -- members were actually divided over...
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Aug 23, 2019
08/19
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economy and how that applies, certainly the congressional budget office just came out with a report sayingconomy. it's a cost of $600 a year for the u.s. family. lauren: and they're hurting the chinese economy. bloomburg out with a survey and they found if there is retaliation next month by beijing when we slap import tariffs on chinese products, that could push the chinese economy to grow under 6%. it's the weakest growth there in 30 years. >> well, they've been growing -- they've been trending that way for a long time. there's a lot of questions about whether they are trending at 6% anyway. but yeah, of course. i mean, tariffs hurt everyone. they hurt us when we apply them and when the chinese apply their own it hurts them. lauren: riley, not to interrupt, but i want to get a lot in. what could an immediate trade deal with china, what could that look like? >> i think what it could look like is a big question. i think what the effect it could have is be he very positive for both our economies, positive around the growing sentiment, growing uncertainty that's been building over the last tw
economy and how that applies, certainly the congressional budget office just came out with a report sayingconomy. it's a cost of $600 a year for the u.s. family. lauren: and they're hurting the chinese economy. bloomburg out with a survey and they found if there is retaliation next month by beijing when we slap import tariffs on chinese products, that could push the chinese economy to grow under 6%. it's the weakest growth there in 30 years. >> well, they've been growing -- they've been...
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Aug 27, 2019
08/19
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the congressional budget office recently estimated there was a modest impact on consumers in the u.s.ely to increase if continue and escalate. certainly with respect to the farm constituencies in iowa, a critical state for the president haven, there, the tariffs had a more significant impact. the president will face some pressure from those constituencies and others impacted by the application of tariffs. shery: if you work yourself back to get yourself some sort of agreement with china, i wonder how important december 15, when the final rounds of tariffs are supposed to be implemented, will be a moment where he could present de-escalation? the questionuld, is whether the president chooses to deescalate now are getting into 2020, thinking the economy will need a boost. certainly up for question, but no question the president will try to find some sort of resolution because politically it will be important. kevin: we have this monmouth university poll coming out yesterday, a lot of folks talking about it, in terms of what it means for the lower tier candidates. bernie sanders and eliza
the congressional budget office recently estimated there was a modest impact on consumers in the u.s.ely to increase if continue and escalate. certainly with respect to the farm constituencies in iowa, a critical state for the president haven, there, the tariffs had a more significant impact. the president will face some pressure from those constituencies and others impacted by the application of tariffs. shery: if you work yourself back to get yourself some sort of agreement with china, i...
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Aug 24, 2019
08/19
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that not only are more americans defaulting on these government-backed loans, but that the congressional budget officexpayers. nevertheless, democrats like 2020 presidential candidate elizabeth warren have spent years demanding more and more subsidies and claiming that the u.s. government would save a fortune. here's the massachusetts senator in 2013. >> let's all be clear about what the current student loan interest rates produce for the united states government. the cbo, the agency in charge of estimating these costs for the government, maintains that this year the united states government will make $51 billion in profits from the student loans. paul: we're back with james freeman, allysia finley and kyle peterson. allysia, the senator saying student loans would be a profit center for the federal government. what went wrong? >> well, they were basing this on some kind of interest rate arbitrage. the government would borrow at a lower rate than it would lend to students. what went wrong is, basically, the obama administration decided to implement these income-based repayment plans, about 10% of their
that not only are more americans defaulting on these government-backed loans, but that the congressional budget officexpayers. nevertheless, democrats like 2020 presidential candidate elizabeth warren have spent years demanding more and more subsidies and claiming that the u.s. government would save a fortune. here's the massachusetts senator in 2013. >> let's all be clear about what the current student loan interest rates produce for the united states government. the cbo, the agency in...
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Aug 23, 2019
08/19
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CNBC
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several years and unfortunately the sort of sugar high from those tax cuts is waning the congressional budget officened americans now that the deficit is at a very high level. this is of concern to fiscal policy makers. because fiscal policy makers themselves need to know how much room they have to stimulate the economy and stimulate it in a meaningful way if, in fact, called upon to do so because of the downturn. >> a lot of complex issues to deal with. sarah bloom raskin, thank you for joining us this morning. >> thanks. >> well, for complete coverage for all things jackson hole, look no further than cnbc for insights from top market movers including st. louis fed president and cleveland fed president. all of those interviews coming up later on today. well, coming up on this show, is your commute a nightmare you're not alone a new study will tell you exactly how much time you spend sitting in traffic that jaw dropping statistic coming up next and then -- >> the fastest way i know to get a picnic basket. >> hey, boo boo, yogi bear is not the only four legged thief on the loose these days. the amazi
several years and unfortunately the sort of sugar high from those tax cuts is waning the congressional budget officened americans now that the deficit is at a very high level. this is of concern to fiscal policy makers. because fiscal policy makers themselves need to know how much room they have to stimulate the economy and stimulate it in a meaningful way if, in fact, called upon to do so because of the downturn. >> a lot of complex issues to deal with. sarah bloom raskin, thank you for...
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Aug 22, 2019
08/19
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the congressional budget office is sounding the alarm on the u.s. fiscal outlook. we will talk about the impact with libby cantrill of pimco, next. this is bloomberg. ♪ kevin: this is "balance of power" on bloomberg television. i am kevin cirilli in washington dc. shery: and i am shery ahn in new york. we turn to mark crumpton first word news. mark: emmanuel macron is giving boris johnson little hope he is prepared to compromise on brexit and he says any changes to the current deal will not be significant. the day after the prime minister held talks with angela merkel in berlin, the two met in paris to discuss the brexit impact. the integrity of the single market -- these are our goals. and we talked about flexibility, let me be clear. these goals have to be met. prime minister johnson is demanding the eu scrap the backstop, the mechanism designed to keep the irish border free of checks that is a heart of the agreement. exchanging will stop classified intelligence on north korea with japan amid a bitter trade dispute. south korea says the move is in response to jap
the congressional budget office is sounding the alarm on the u.s. fiscal outlook. we will talk about the impact with libby cantrill of pimco, next. this is bloomberg. ♪ kevin: this is "balance of power" on bloomberg television. i am kevin cirilli in washington dc. shery: and i am shery ahn in new york. we turn to mark crumpton first word news. mark: emmanuel macron is giving boris johnson little hope he is prepared to compromise on brexit and he says any changes to the current deal...
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Aug 23, 2019
08/19
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KRON
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taxes for a long time the president's flip-flop coming is congressional budget forecasters say more reading is to come. >>the congressional budget officee federal deficit will balloon to billion this fiscal year and average one 0.2 trillion for the next decade can wait for formal the president's most consistent economic message has been a contradictory one. he insisted the he is doing really well. but he spent a week calling for a big federal rate cut. typically made with an economic did is on the horizon. >>does it you'll see a rocket ship we'll see a little bit because if we have a very strong economy. >>the whiplash in the west wing is widespread. >>i have an appetite for background checks were going to be doing background checks. trump now says he'll push for background checks. >>and claims he never told enough he wouldn't even though he spent the week repeating. the gun group's talking points after a long phone call with the nra chief. to trump talking by sources tell cnn white house aides are working on gun control proposals for when congress returns to capitol hill. but what the president will support and whether or not that sup
taxes for a long time the president's flip-flop coming is congressional budget forecasters say more reading is to come. >>the congressional budget officee federal deficit will balloon to billion this fiscal year and average one 0.2 trillion for the next decade can wait for formal the president's most consistent economic message has been a contradictory one. he insisted the he is doing really well. but he spent a week calling for a big federal rate cut. typically made with an economic did...
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Aug 23, 2019
08/19
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the news came from the non-partisan congressional budget office.fact, as a share of the total onomy, the deficit is no reaching its highest levels since the end of world war ii. lisa djardins takes a closer look at what is behind the jump, and how the debt could limit some of the choices in the event of a future downturn. >> desjardins: that's right, judy the deficit is expected to close in on $1 trillion this yr, and then stay over $1 trillionr ery year on the horizon. all told, the c.b.o. says due to recent changes in policy and the economy, deficits over the next decade will be $800 billion gher than it projected just a few months ago. those changes include a trio of debt pushers-- the bipartisan budget deal is raising spending, the republican tax cuts are lowering revenue, and the owonomy overall is slowing let's break this down with maya macguineas of the committee for a responsible fedel budget. maya, thank you for joining us. i want to look at the long-te issues here. let's look at what the deficits are projected to be now for the next few y
the news came from the non-partisan congressional budget office.fact, as a share of the total onomy, the deficit is no reaching its highest levels since the end of world war ii. lisa djardins takes a closer look at what is behind the jump, and how the debt could limit some of the choices in the event of a future downturn. >> desjardins: that's right, judy the deficit is expected to close in on $1 trillion this yr, and then stay over $1 trillionr ery year on the horizon. all told, the...
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Aug 21, 2019
08/19
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CNBC
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. >>> and the congressional budget office just releasing its update to the budget and economic outlookts ago. ylan mui is in washington. >> the cbo is now forecasting that the deficit will hit $960 billion this year that's 63 billion more than previously forecast, and starting next year, deficits will average more than a trillion dollars a year over the rest of the decade now, one of the main reasons for that is the recently passed budget deal, which the cbo estimates costs about $1.7 trillion. on the flip side, that budget deal and the fiscal stimulus it provides is expected to boost economic growth in the short-term the cbo is now forecasting average growth of 1.8% between 2020 and 2023. that's above their previous projection the forecast for this year remains unchanged at 2.3%. the cbo is lowering its forecast for interest rates it now puts the ten-year treasury at 2.9% over the decade that's down from its previous forecast of 3.7%, and it results in a reduction of $1.1 trillion in interest rate costs over the decade finally, on tariffs, the cbo has updated its estimate of the impac
. >>> and the congressional budget office just releasing its update to the budget and economic outlookts ago. ylan mui is in washington. >> the cbo is now forecasting that the deficit will hit $960 billion this year that's 63 billion more than previously forecast, and starting next year, deficits will average more than a trillion dollars a year over the rest of the decade now, one of the main reasons for that is the recently passed budget deal, which the cbo estimates costs about...
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Aug 21, 2019
08/19
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the congressional budget office put out new projections, projecting the deficit this year for 2019 will be $960 billion. 63 billion more than they anticipated. talking about hundreds of billions is going to be a thing in the past because the projections going forward from here on out, over the next decade, an average of 1.2 trillion a year. melissa: oh. connell: both parties can take the blame, whatever you want to call it for that one, there is no doubt. thank you, blake burman. back with jonathan, adam to talk about all this. jonathan you go first on this idea now, as blake said, sometimes changes hour by hour, sometimes day by day, the president's argument things are good. we talked it a moment ago, things are good. we don't really need tax cuts i mentioned to you yesterday or the day before so what do you say? >> it's a compelling argument connell, but there is also compelling argument 24 hours ago he was arguing the other side of this issue here. this is making it so difficult for traders and investors no matter how much money you have in your 401(k) these days is uncertainty. ever
the congressional budget office put out new projections, projecting the deficit this year for 2019 will be $960 billion. 63 billion more than they anticipated. talking about hundreds of billions is going to be a thing in the past because the projections going forward from here on out, over the next decade, an average of 1.2 trillion a year. melissa: oh. connell: both parties can take the blame, whatever you want to call it for that one, there is no doubt. thank you, blake burman. back with...