holtz-eakin. welcome to you. you're an accomplished testifier. and we look forward to your five minutes of testimony. >> thank you, chairwoman eshoo, ranking member burgess, members of the committee for the privilege of being at this important hearing. drug prices are a very important topic in the united states, and i want to say a couple of things about the debate in general and then a few remarks on the pieces of legislation under consideration today. the first thing i would emphasize is that at least to my eye, there is not a broad general widespread drug pricing problem. instead, it's important to recognize that we have some targeted areas with extreme drug pricing issues, notably in specialty drugs, largely oncology drugs right now, and sole source drugs and in thinking of solutions, it's important to identify the problems first and i'd focus on those. second, there's often little clarity about what price people are trying to affect. and there are different measures of price bandied about. th

holtz-eakin. speak briefly about the estimated costs to consumers of these regulations. >> i don't have an estimate of the cost. i just want to echo something you just said. you can imagine putting in place systems to collect the data because you want to comply with the law assuming it was passed then the secretary changes the nature of the information you have to provide. you now are back at the starting situation where you haven't clee collected, you have to go back. it could get progressively more costly if that is how it transpired. >> okay. so if you can't comment specifically on cost, if all these new reporting requirements were signed into law and the secretary decided there was more information that he needed, how do you think that would affect new drugs coming to market? >> i think they'd be more costly to provide and be more expensive. >> okay. which is not the objective we're shooting for. >> yes. >> question, if i could, for the whole panel. i support transparency across health care. i

. >> madam chair you have a quorum both directors eakin and heinicke are absent with notification. >>ur newest director, director hemminger. we're delighted t to have him jn us on the board. would you like to say a few words? >> it appears you put the rookies next to the executive director. ed had me under surveillance for years. it's nothing new. i look forward to our work together.

. >> madam chair you have a quorum both directors eakin and heinicke are absent with notification. >> i'd like to welcome our newest director, director hemminger. we're delighted t to have him jn us on the board. would you like to say a few words? >> it appears you put the rookies next to the executive director. ed had me under surveillance for years. it's nothing new. i look forward to our work together. >> thank you. item 3, announcements of sound producing devices during the meeting. be aware the ringing and use of cellphones, pagers and sound-producing devices are prohibited and any person responsible for the rimming of use of a cell phone or similar electronic devices may be removed from the meeting. cellphones set on vibrate cause microphone interference and we request they are in the off position. approval of the remember meeting minutes. >> any comments among the board on the minutes from june 4th? >> is there any public comment on the minutes? >> i have not received any speaker cards. >> motion to approve. >> second. >> all in favor. >> aye. >> aye. >> those are approved. >>

special representative for north korea steve eakin will still lead u.s. efforts to try to negotiate with north korean, melissa. >> melissa: rich edson, thank you so much let me bring it to the couch come up buck, what you make of it? how significant to cross into the dnc and pull back a little bit? where do you think we are now as a result? >> buck: you have to start with the contacts because obviously high-stakes diplomacy and the president is looking for something of a miracle here. this is depicting one international relations problem that looks to be entirely intractable. you have had bipartisan and let's be honest about it, bipartisan failures stretching back three decades now. it is north korea. so this is what i think the president is doing correct, he has not lifted sanctions, has not decided to let up on north korea so there isn't this major economic incentive for them to try to do something. he is essentially throwing long bombs pardon the phrase in the end zone. he's actually trying to do something no one has done before and basically on person

connell: doug holes -- douglas holtz-eakin.iscussion 4,000 times. >> great to be back, connell. connell: are we shutting down the government? it brings up a broader point. we go through these things a million times. should we have bigger discussions. people say why do we have a debt ceiling, negotiate eight over it agree to raise it? does it make sense anymore or did it ever? >> it was intended to give congress more control over the debt. it turns out a problem from economics point of view. connell: would you get rid of it? >> i would get rid of it. right now we're running up to this movie we've seen before, you don't know exactly what the drop-dead date is. sometime in early september people are guessing. as you get closer to it, you run the risk financial market lose faith in treasurys, spike in yields. connell: right. >> all of that is bad news from the point of economy. there is no virtue to it. it doesn't actually control spending. connell: is there -- better system or just let the market control it? whatever the bond mark

doug holtz-eakin, thanks for joining me david, back to you. >> let's send it over to jon fortt to looksquawk alley. >> intel's ceo bob swan coming up on "squawk alley. big deal that stock had a big beat on the top and bottom lines last night but this morning, it's way off the highs. near the lows, actually in the red. we're going to fige urout what's next for intel and that's coming up on "squawk alley. hobbs & shaw. you want a war you've got one. [ "psa" by jay z ] we're never going to survive their firepower. we're going to need cars... and guns. oh i can handle that part. i got your back brother. and me yours. [ laughing ] [ screaming ] >>> this week national hire a vet day encouraged companies to consider veterans for open positions. the kind of outreach may be important for women veterans fastest growing segment of the vet population contessa brewer live in syracuse, new york, for more good morning, contessa >> reporter: hi there, sara. syracuse university is tackling a well-documented challenge, military veterans get the experience and the skills they need in the armed forces, bu

get the read with former cbo director douglas holtz-eakin. i guess a deal is a deal, doug. almost everything seems to telegraph there won't be much spending cut on other side for military related items, non-military items, we'll see trillion dollar deficits for couple years. what do you think? >> what is sounds like. there was a time when at the got rid of the budget caps used mandatory budget restrictions as offsets. they were not very real but at least a fig leaf. sounds like there is nothing in this deal. that is a real problem substantively. in 2018, exactly such a deal on the table, president showed his displeasure with it, threatened not to sign it. i want to be convinced everyone signed off on this before we start congratulating ourselves. it does have to get done. they have tied together a budget deal, which is a matter of politics and raising the debt limit which is something economically quite dangerous if they fail to do it. they do have to get it done. i hope everyone really signed off on the deal. neil: you're wise to point out as you always are, president trum