fiscal union. europe has seen the directions.ms of seems that the sentiment is more integrating.oncernse forget the of populism in europe and it years?ack uglier in five >> i'm encouraged people -- this going my way. stood up. more people going to elections vote. this is what most encouraging of it to me. it'se say, other people, time to really take that into our hands. that's quite positive. >> how do you see china? >> chinese sit down and smile. doors?nd closed >> look what happens. western world. china say hey, if there's no lead anymore, global like that,hings [indiscernible] 65 nations signed up for already. than 65. said look, it has brought trade and all that good stuff. again. build it if you take this one step tother, think about it, 65 100 nations, the rest in the world doesn't exactly know how andeal with global trade things like that. what fair trade is all about. going to be just one. may as well be the new wto. >> such a big economy. they're trying to move super tanker. bump asoing to see a tries to become a more consumption led economy? >> i think china does not ac

it is not just monetary union, we need political, fiscal, banking union for this to work for the nextbig ask but if we can pull that off, that would be a fantastic outcome. guy: and the world is underinvested in that? bob: to some extent. there are other idiosyncratic issues that we need to figure out. geographical placing with north africa and the middle east is not going to way. it has approached the turkey and russia -- these are difficult things to figure out. the germans have a special relationship with russia, which the rest of europe doesn't share. europe gets its own energy deals with russia. tensions down the road, but for now, let's enjoy it. we are happy to let people get boldin to this story, -- >> when you see the change starting to become clear, and if it hasn't, at what point do you make a decision -- this isn't going to work and i have to rethink my optimism. german elections, if that goes wrong and we haven't got the big changes by the end of this summer? what are you looking for? bob: single event, i don't know but we get a sense of how unifying he is. i think it is

over an organization that arguably it's part of the blame is the national union of students the idea that the institute fiscal studies is saying that students from the university would have fifty seven thousand how did it get to this age i think it got to that stage because politicians aren't listening to the voice of the student but what i'm really excited to say is that our students and young people will no longer take lip service and the major parties and politicians need to take us seriously the recent general election result and the shift in which young people contribute to shows that we are ready a way in to have an education system that we want and that we think is accessible for all they believe the german corben wants to wipe out the debt do you think students will ever pay off these debts without german corben i think students will never pay off the day in the current climate that we're in at the moment i think is totally possible to get rid of. fees and have free education and i don't think is right when i when i have politicians saying that there isn't enough money because it's evident when the go

you have to build foundations of a closer europe and banking union is part of it and fiscal policiesanna: less gross comes less crisis. guest: right. to mean's going anything, it's about sitting down and doing work when it is not terribly exciting. manus: thank you very much. --ing up, anna: it's harder than it seems. we will get an analysis next. this is bloomberg. ♪ manus: 6:20 a.m. here on the daybreak. we can smell the weekend already. -- testimony from congress. it happened over those two days. janet yellen said they conclude readings sayakened the central bank will fall short of the target. yellen responded to a question on the question of economic growth. >> i think it's something that would be wonderful. if you could accompany it, i would look -- accomplish it, i would love to see it. anna: sheet as a little skeptical. manus: the 3% is something that would be wonderful if you could accomplish it, but it would be quite challenging. 2% growth, various equity people have been through the door. you get double-digit earnings. share herpticismu sh skepticism? guest: i do share her

fiscal year ending september 30, 2018. the speaker pro tempore: referred to the union calendar. oints of order are reserved. for what purpose does the gentleman from alabama seek recognition? >> i present a privileged report for printing under the clule. the speaker pro tempore: the clerk: report to accompany a bill making appropriations for agriculture, rural development food and drug administration and related agency programs for the fiscal year ending september 0, 2018 and for other purposes. the speaker pro tempore: referred to the union calendar. points of order are reserved. the speaker pro tempore: the chair will entertain requests for one-minute speeches. he house will come to order. for what purpose does the gentleman from minnesota seek recognition? >> permings to douse for one inute and resize and extend. the speaker pro tempore: the gentleman is recognized for one minute. >> the house is not in order. the speaker pro tempore: the house will come to order. please take your conversations off the floor. he house will come to order. the gentleman is recognized. mr. paulsen: i rise to congratulate ja

into the committee of the whole house on the state of the union for further consideration of the bill h.r. 2810, to authorize appropriations for fiscal year 2018 for military activities of the department of defense and for military construction, to prescribe military personnel strengths for such fiscal year, and for other purposes. section 2-a, no further amendment to the bill, as amended, shall be in order except those printed in the report of the committee on rules accompanying this resolution and amendments en bloc described in section 3 of this resolution. b, each further amendment printed in the report of the committee on rules shall be considered only in the order printed in the report, may be offered only by a member designated in the report, shall be considered as read, shall be debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, shall not be subject to amendment, and shall not be subject to a demand for division of the question in the house or in the committee of the whole. c, all points of order against the further amendments printed in the report of the committee

been perceived as a bad student and now we outperform our fiscal adjustments, we seem to have much more money than we -- we even got the european union these last couple of weeks. it looks like it is also brownie points for the policies that were followed by the european union. if it's everybody's point of view and just -- i am worried and my challenge is how this is going to make sure that we will reduce the cost of borrowing in the long-term for the economy and increase productivity. it is white, it is a good signal and we should stick with it. manus: thank you very much. brownie points all around. thanks for joining us. the european head of global market three shirts -- of research here. elena, we have to the tenure -- 10 year spread. this is quite an important moment. is it folly or good they are back in the bond market? guest: in terms of the financing costs, in terms of yields, yes. that is certainly good news. but whether it is stirring up trouble further down the line but it is a big issue in terms of if when you look at the projections of what is assumed in terms of the debt profile, what you do not assume is any kind of dis

financial services and general government for the fiscal year ending september 30, 2018, and for other purposes. the speaker pro tempore: referred to the union calendar and ordered printed. pursuant to clause 1 of rule 21, points of order are reserved. for what purpose does the gentlewoman from wyoming seek recognition? >> mr. speaker, mr. speaker, i send to the desk a privilege red port from the committee on rules for filing under the rule. the speaker pro tempore: the clerk will report the title. the clerk: report to accompany house resolution 454, resolution providing for drgs of the bill h.r. 2910, to provide for federal and state agency coordination and the approval of certain oauthorizations under the natural gas act and for other purposes. providing for consideration of the bill h.r. 2883, to establish a more uniform, transparent and modern process, to authorize the construction connection operation and -- construction, connection, operation, and mains nance of international border facilities for the import and export of oil and natural gas and for eelect trissties. providing for consideration of the bill h.r. 218, to provide for the

redistributed to other states in the union, would have resulted in a balance in that rainy day fund in excess of $1.5 trillion today. when people discuss the fiscal problems of illinois, the starting point should be there. to -- i cochair a future work task force for the new democrat coalition. we are looking at the effects of technological and other changes that may occur in our workforce in the coming years and what policies we should adopt to remediate the bad side of those . a lot of about why inflation is not increasing as you would have guessed in the past, particularly wage inflation. market, gap the job that is rapidly -- employers would start giving up wages but that does not appear to be happening the way it used to. one of the explanations that is suggested for that is that employers have the opportunity, instead of bidding up wages, to invest in technology that replaces jobs. do you think there is a reasonable chance that you will have to change your macro economic models to reflect the loosening and length between the the tightness in the market and the increase in wages? chair yellen: we are seeing a tenuate at length -- link betwee

. -- for the fiscal year ending september 30, 2018, and for other purposes. the speaker pro tempore: referred to the union calendar and ordered printed. pursuant to clause 1 of rule 21rk points of order are reserve -- 21, points of order are reserved. the unfinished business is the request for a recorded vote on 282 which the clerk will report by title. the clerk: to authorize spouses of service members to elect the to use the same resident as the service members. the speaker pro tempore: the question is, will the house suspend the rules and pass the bill. those in favor say aye. those opposed, no. in the opinion of the chair, 2/3 of those voting having responded in the affirmative, the rules are suspended, the bill is passed and, without objection, the motion to reconsider is laid on the table. the unfinished business is the question suspending the rules and passing h.r. 1058. the clerk: h.r. 105, a bill to amend title 38 united states code to collar fight role of to die terrorists in the department of veterans affairs. the speaker pro tempore: the question is will the house suspend the rules and pass th

fund instead of redistribute to other states in the union would have resulted in a balance of $1.5 trillion today. so i think when people discuss the fiscal problems of illinois, the starting point should be there. now -- [laughter] now i'd like, finally, i'd like to -- i co-chair a future work task force for the new democrat coalition. we're looking at the effects of technological and other changes that might occur in our work force in the coming years and what policies we should adopt to remediate the bad side of those effects. there's a lot of discussion now about why inflation is not increasing as it -- you would have guessed in the past, particularly wage inflation. in the past when the gap closed up in the job market, that's very rapidly employers would start bidding up wages. that doesn't appear to be happening the way it used to. and one of the explanations that is suggested for that is that employers have the opportunity instead of just bidding up wages to simply invest in technology that replaces jobs. i was wondering if you think there is a reasonable chance that you're going to have to change your macroeconomic models to have

redistributed to the other states in the union, would have resulted in a balance in that rainy day fund in excess of $1.5 trillion today. so that i think when people discuss the fiscal problems of illinois, the starting point should be there. now, finally, i co-chair a future work task force for the new democrat coalition and we're looking at the effects of technological and other changes that might occur in our workforce in the coming years and what policies we should adopt to remediate the bad side of those effects there's a lot of discussion on why inflation is not increasing like you would have guessed in the past, particularly wage inflation. in the past when the gap closed up in the job market, that very rapidly employers were start to bid up wages that doesn't appear to be happening the way it used to and one of the explanations that is suggested for that is that employers have the opportunity instead of just bidding up wages to simply invest in technology to replace jobs. i was wondering if you think there's a reasonable chance that you're going to have to change your macroeconomic models to reflect the loosening of the link between the closest of the tightn

fiscal rules. the germans committed in their dna to do this. unless he can persuade angler marco —— angler marco —— angela merkel that it is in their interests to do this, the suffering parts of the european union running out of time. thank you for coming on and talking about your book. the agents at road was the world's first superhighway. —— the ancient silk road. now, china is hoping to recreate that route. the critics say beijing is trying to exert its influence on all 60 countries that are investing in it, but mel —— many could well be indebted for decades. starting in china, the route winds its way past indonesia, sri lanka and ends up in europe. at the same time and that there will be a land—based networks making west through central russia. they call them the ships of the desert. for centuries, the camel trains of the silk road dominated trade between china and the west. now, china wants to recreate the silk road. this time, by train. when this man started here, 3a years ago, china sold the role next to nothing. now, he is a foot soldier for a trading superpower. i asked how that had changed him. translation: we are under a lot of pressure. expectations are high but there is also a lot

into the committee of the whole house on the state of the union for consideration of the bill h.r. 2810, to authorize appropriations for fiscal year 2018 for military activities of the department of defense and for military construction, to prescribe military personnel strengths for such fiscal year, and for other purposes. the first reading of the bill shall be dispensed with. all points of order against consideration of the bill are waived. general debate shall be confined to the bill and shall not exceed one hour equally divided and controlled by the chair and ranking minority member of the committee on armed services. after general debate the bill shall be considered for after general debate the bill shall be considered for amendment under the five-minute rule. in lieu of the amendment in the nature of a substitute recommended by the committee on armed services now printed in the bill, an amendment in the nature of a substitute consisting of the text of rules committee print 115-23, modified by the amendment printed in part a of the report of the committee on rules accompanying this resolution, shall be considered as adop

committee of the whole house on the state of the union for further consideration of the bill h.r. 3219, making appropriations for the department of defense for the fiscal year ending september 30, 2018, and for other purposes. the further amendment printed in part a of the report of the committee on rules accompanying this resolution shall be considered as adopted in the house and in the committee of the whole. section 2-a, no further amendment to the bill, as amended, shall be in order except those printed in part b of the report of the committee on rules accompanying this resolution, amendments en bloc described in section 3 of this resolution, and available pro forma amendments described in section 4 of house resolution 473. b, each further amendment printed in part b of the report of the committee on rules shall be considered only in the order printed in the report, may be offered only by a member designated in the report, shall be considered as read, shall be debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, may be withdrawn by the proponent at any time before action thereon, shall not

committee of the whole house on the state of the union for consideration of the bill h.r. 3219, making appropriations for the department of defense for the fiscal year ending september 30, 2018, and for other resolution the speaker may, purposes. the first reading of the bill shall be dispensed with. all points of order against consideration of the bill are waived. general debate shall be confined to the bill and shall not exceed two hours equally divided and controlled by the chair and ranking minority member of the committee on appropriations. after general debate the bill shall be considered for amendment under the five-minute rule. an amendment in the nature of a substitute consisting of the text of rules committee print 115-30 shall be considered as adopted in the house and in the committee of the whole. the bill, as amended, shall be considered as the original bill for the purpose of further amendment under the five-minute rule and shall be considered as read. points of order against provisions in the bill, as amended, for failure to comply with clause 2 of rule 21 are waived. section 2-a, no further amendment to the bill shall be in orde

whole house on the state of the union for further consideration of h.r. 2810 which the clerk will report by title. the clerk: a bill to authorize appropriations for fiscal year 2018 for military activities of the department of defense and for military construction, to prescribe military personnel strength for such fiscal year and for other purposes. the chair: when the committee of the whole rose earlier today, a request for a recorded vote on amendment number 10 printed in house report 115-217 offered by the gentlewoman from missouri, mrs. hartzler, had been postponed. pursuant to clause 6 of rule 18 proceedings will now resume on those amendments printed in house report 115-217 on which further proceedings were postponed in the following order -- amendment number 1 by mr. garamendi of california. amendment number 3 by mr. buck of colorado. amendment number 4 by mr. perry of pennsylvania. amendment number 10 by mrs. hartzler of missouri. amendment number 5 by mr. gosar of arizona. amendment number 6 by mr. tom rooney of florida. the chair will reduce to two minutes after the first in this series. the unfinished business is the request for a recorded vo

union for the consideration of h.r. 2810. which the clerk will report by title. the clerk: a bill to authorize appropriationses for fiscal year -- appropriations for fiscal year 2018, for military activities of the department of defense, and for military cruck, to prescribe military personnel strength for such fiscal year, and for other purposes. the chair: pursuant to the rule, the bill is considered read the first time. the gentleman from texas, mr. thornberry, and the gentleman from washington, mr. smith, will each control 30 minutes. the chair recognizes the entleman from texas. mr. thornberry: mr. speaker, i make a point of order that the committee is not in order. the chair: the committee will come to order, please. the gentleman is recognized. mr. thornberry: mr. chairman, i yield myself such time as i may consume. the chair: the gentleman is recognized. thank you. mr. thornberry: mr. chairman, i am proud to bring before the house h.r. 2810, the national defense authorization act for the fiscal year 2018. it was reported favorably by the house armed services committee at 11:59 p.m. on june 28, 2017. by a vote of 6

did in fiscal year 2017 omnibus to continue robust investments in job-training programs that coordinate with the efforts of key workforce partners, business leaders, workforce boards, labor unions, community colleges, nonprofits and state and local officials. to make sure all workers can acquire the skills that they need to get good job and climbed the ladder opportunity and grow the economy. thank you, mr. chairman. >> thank you, senator murray. let's have the chairman of the full committee with us. do you have anything you like to start with? >> mr. chairman, i do have a couple of questions. >> let's get mr. custis testimony and go to questions after that. secretary acosta, we are glad you are here. the secretary is now serving in his fourth presidentially appointed senate confirmed job. most recently, he served as dean of the florida internal international university college of law and secretary, we're glad you're here. this is always a department where you have your hands full but meeting the opportunities of futures is important and we look forward to hearing you talk about that in this budget. >> mr. chairman, thank you. and ranking member murray, chairman cochran, member

union. and especially, one of eisenhower's ideas is eisenhower -- one of eisenhower's ids because eisenhower was a very capable man. and a very fiscal conservative, very -- and eager fiscal conservative. -- and a very fiscal conservative. one of his ideas was that europe should depend itself with its own nuclear weapons. and eisenhower thought that a nuclear germany might be the right answer. the u.s. would not have to have two is in europe. germany would be able to defend itself. from the soviet point of view, a nuclear germany was just not attractive in the immediate aftermath of the nazi era where the server unit had lost her people, and had more destruction, and had more tragedy, and the idea that having once was a war to end up even more vulnerable, was a profound point of distress. their view of the cold war was, what you doing? you are preventing the legitimate security needs of the soviet people. i find this very plausible, by the way, from everything that i have read. the u.s. was either not very ratherabout it, or flippant about it. kennedy came to appreciate those concerns. i will come back to that story. hot in thewere b

services and education and related agencies for the fiscal year ending september 30, 2018 and for other purposes. the speaker pro tempore: referred to the union calendar and ordered printed. all points of order are reserved. for what purpose does the gentleman from tennessee seek recognition? mr. roe: i move to suspend the rules and pass h.r. 3218 as amended. the speaker pro tempore: the clerk will report the title of the bill. to clerk: h.r. 3218, a bill amend title 38 united states code to make improvements in the laws by the secretary of veterans affairs and for other purposes. the speaker pro tempore: the gentleman from tennessee and the gentleman from minnesota each will control 20 minutes. the chair recognizes the gentleman from tennessee. mr. roe: i ask unanimous consent that all members have five legislative days to revise and extend their remarks and include extraneous material. the speaker pro tempore: without objection. mr. roe: i yield myself myself such time as i may consume. i rise today in support of h.r. 218 as amended, the harry w. col merry veterans educational . sistance act of 2017 this bill and how it got to this point is