this marks a path in g.d.p. will occur in large part because the recent legislation provides significant stimulus at a time when there is very little slack in the economy. those effects as well as a larger federal budget deficit results from the new laws exert upward pressure on interest rates and prices. during the 2020 and to 2026 period, those factors, along with slower growth in federal outlays and the expiration of reductions in personal income tax rates dampen economic growth. after 2026, economic growth is projected to rise slightly, matching the growth rate of potential output by 2028. between 2018 and 2028, real actual output and real potential output alike are projected to expand on an annual rate of 1.9%. in our forecast, the growth of potential g.d.p. is the key determinant of the growth of actual g.d.p. through 2028 because actual output is very near its potential level right now and is projected to be the near potential level at the end of the period. potential output is projected to grow more quic

hungary's g.d.p. growth was minus there was a recession. and now they're recovering and they have been recovering for a couple of years now so it's a good development in the sense that there is a healthy g.d.p. growth and kicked off of under this government they really as we just saw also they are managing to get foreign investment into the country while at the same time doing some protectionist policies as well i mean i went to the northern hungary and city of your recently and they are all very elated and very happy about having audi there it's really improved their city but at the same time of course all about is using all the funds to help his friends and his cronies and a good bit of nepotism there and that's in the long run is not going to be very healthy for the hunger in the economy now you mentioned the e.u. funds hungary is one of the use countries with the highest growth rate is also among the countries resisting receiving the most do you subsidies why is that. well it has been very poor in the ninety's and early two thousand was

then twenty sixteen olympics but even still despite lula's popularity you can see here what their g.d.p. looked like from twenty thirteen to twenty seventeen quite volatile movement into a steep recession in the midst of the political turmoil in twenty sixteen around the time when lula was removed from office and then his successor dilma rousseff faced her own corruption scandal now take a look at the country's national debt in relation to their g.d.p. starting in two thousand and eleven with projections all the way into about twenty twenty two brazil's debt hovered at over sixty percent of g.d.p. in two thousand and eleven and has seen a frightening steady rise now getting close to about ninety percent of g.d.p. here in twenty eighteen now lula's worker party fought really hard to build quickly build it previously not exist at middle class in brazil which they successfully did but they did so on the wings of debt that are now soaring in twenty sixteen brazil spent sixteen percent of their their budget on interest only payments for government debts that are privately held by investors a

you for all the millimeter it's unsustainable that they could get close to ninety percent of their g.d.p. it's not very good but one of the things that you said there you know i had heard it before but i'm curious if it can really happen is that look could actually run for president again from prison can he do that if that is a wacky concept i know here in the states where you're automatically ruled out if you're being if you're indicted and and obviously for him he's been convicted in brazil this is also unprecedented now the judge is now. say that he is barred from doing so but his lawyers are now trying to file hippias corpus and they're trying to they're trying to still extricate him from the situation and they still don't actually know if that is legal so we still don't know either so we have to wait and see and see how their their government pans this out and see if the language and there actually allows it or forbid that right now it's up in the air and they also have i know in brazil more of an inquisition judicial style rather than our former judiciary so that the people who act

debt to g.d.p. ratio i mean if you don't have growth in your country and you have a big debt if you've got interest on that debt and there's no way out right i mean it's like i was in college or those student loan and salaried it didn't pay enough government salary how are nations actually going to deal with that just hope for economic positive news. well i suppose so bart but if there is positive economic news there should also be along with that rising interest rates if you look at the situation here in two thousand and eighteen in our fiscal year the united states as it's expected to pay six hundred billion dollars on its interest look out five years and this is what the i.m.f. is looking at and it's over a trillion dollars just to service the debt and remember that the united states is leading the world central banks in terms of tightening monetary policy so there will be other countries that follow along the same path meaning their debt interest expenses will continue to rise as a factor of tim

into about two thousand and twenty two brazil's debt hovered at over sixty percent of g.d.p. in two thousand and eleven and has seen a frightening steady rise now getting close to about ninety percent of g.d.p. here and twenty eighteen now lula's worker party fought really hard to build quickly build a previously not exist at middle class in brazil which they successfully did but they did so on the wings of debt that are now soaring in twenty sixteen brazil spent sixteen percent of their their budget on interest only payments for government debts that are privately held by investors and business tycoons they spent more on interest than they spent on education for the country which was twelve percent and health care which was on par with education their only their interest only payments were actually only beaten out by social benefits like pensions that arrived at a whopping thirty five percent so to put it lightly we're just beginning to see the political unrest that's for them in extra complete tied to their economy so i think we're going to see a lot more fallout as as i th

this is a longstanding grievance of trumps that is the two percent of g.d.p. g.d.p. spending toward military defense among nato allies and trump has always said that nato does not pay its way and that c he referenced poland saying thanks thanking them for meeting more than the suggested contribution in their defense now it's hard to say how chancellor merkel responded to that this is something that we've heard from trump before i think what's more significant coming out of this press conference is that we didn't hear any reassurances from him on the two big issues that america had really come to d.c. to try and sort out of course she was here on the heels of french president and the new on the visit earlier this week and the idea had really been that she could perhaps seal the deal after we'd seen butter up trump to try and form a good relationship and try and get him to see eye to eye with europe on issues like the iran nuclear deal and of course securing a long term exemption on steel and aluminum tariffs but in this press conference we did not hear tell mark all o

general data protection regulation or g.d.p.are for shorts before next month's deadline that would be may twenty fifth so we're getting a preview actually of the changes that are headed your way if you're a facebook user even if you're not in europe and here are just some of the basics to this new privacy control with facebook now e.u. users can opt in to using facial recognition technology which has been banned since two thousand and twelve you can limit the use of political religious or relationship information that you might have already shared you can also say you don't want facebook to use information from partner websites when they're targeting ads and there's some new features pacifically for minors people users may be under sixteen years of age it requires parental consent so there are some of the basics here they're being rolled out clearly facebook trying to get ahead of the game here before the g.d.p. our next month the proposals are already drawing criticism though aren't they is facebook so it's going to criticism i

commerce department reported that the first quarter growth the g.d.p. came in at two point three percent beating some economists expectations of one point eight percent although it is down from the q four g.d.p. of two point nine percent for a recollection of what happened last year the economy grew at two point three percent for all of last year twenty seventeen which is actually a big increase over twenty sixteen of one point five percent and related to the commerce department we always report on and discuss those u.s. monthly employment numbers the unemployment numbers which are released by the department's bureau of labor statistics the b.l.s. on the first friday of the month so we'll get to those april numbers next week but something occurred to us which we thought merited more of an in-depth look at unemployment i like to say the numbers matter and they mean something and that's particularly the case in fourteen states which all have established new record low unemployment rates in the last year almost a decade after we saw those high unemployment

g.d.p. are you'll be hearing those four letters a lot to coming up it's going to starting may twenty fifth so this is kind of a preview of what you can say expect if you were a facebook user even though if you're not in europe take a look at some of these new privacy controls that are being rolled out here either users can actually now opt in to using facial recognition technology it had been banned here since two thousand and twelve you can limit the use of political religious or relationship information that you might have shared you can also say you don't want facebook to use information from partner websites when targeting it's ads for you and there are some new features specifically for minors as well and that requires parental consent for data collection there's a few others of course but those are the basics these are the ones to look out for right and they've already come under fire this is facebook of course under fire of it. so it turns out that facebook really isn't giving its use

so they might approach one hundred percent of g.d.p. dads is something that concerns the i.m.f. because it by trigger inflation and cause a further downturn now that the u.s. is digging yourself deeper cause and thank you very much for that the u.s. britain and australia have accused russia of cyber attacks on computer networks that could be used to sabotage critical infrastructure as part of a string of hacking accusations against the country which of course russia has denied. the hacking accusations against russia came in a grand joint statement the british and u.s. cyber agency said russia could be laying the foundation for future offensive cyber attacks they warned backed by moscow been targeting government and private computer networks. u.s. authorities say the hackers have been aiming to compromise key hardware like routers and firewalls that would give them control of data flows allowing them to steal data and carry out cyber warfare kremlin spokesman dmitri pascoe spoke to journalists in a conference call and denied the charges. we don't know what accusations of russian

trade in goods could fall by up to three percent in the first year after the change in tariffs well g.d.p. could drop up to one percent meanwhile donald trump has doubled down on a possible trade war with china and ordered officials to examine an additional one hundred billion dollars worth of tariffs on chinese imports on the hours before business leaders and investors around the world had welcomed signs of deescalation in the dispute it's all very confusing. u.s. president trump proposed the latest harris in response to china levying tariffs on u.s. cars and soybeans that was also in retaliation to an initial round of terrorist washings and put on chinese products critics warned that an all out trade war could hurt the u.s. farmers worried this is the one thing that keeping an eye on what's happening out of washington what's happening with the markets that directly affects our lifestyle and to directly affects our pocketbooks and the way we plan for the following years are we gonna pay all the bills the sheer horror we got to buy a new piece of equipment. you know do you get your kids y

government spending may exceed sixty percent of g.d.p. us federal government spending is expected to bloat to over four point seven trillion dollars during fiscal two thousand and twenty according to congressional budget office data released this week however aggressive accounting may be hiding a far worse situation total spending by the trumpet ministration this fiscal year may be more than double what the nonpartisan cabo admits worst overall us federal state local government spending may exceed sixty percent of g.d.p. and will go into how this is calculated but basically all those social security and medicare payments actually are are not counted now but the debts the they actually cost now but the debts are written they create debt which doesn't isn't paid off until what a couple decades from now so they pretend it didn't happen this year all right they say that the federal debt is twenty twenty one twenty two trillion dollars but if you account for the total debt picture it's sixty seventy eighty trillion dollars so donald trump i ha

government spending may exceed sixty percent of g.d.p. u.s. federal government spending is expected to bloat to over four point seven trillion dollars during fiscal two thousand and twenty according to congressional budget office data released this week however aggressive accounting may be hiding a far worse situation total spending by the trumpet ministration this fiscal year may be more than double what the nonpartizan cabo admits worst overall us federal state local government spending may exceed sixty percent of g.d.p. and will go into how this is calculated but basically all those social security and medicare payments actually are are not counted now but the debts the they actually cost now but the debts are written they create debt which doesn't isn't paid off until what a couple decades from now so they pretend it didn't happen this year all right they say that the federal debt is twenty twenty one twenty two trillion dollars but if you account for the total debt picture it's sixty seventy eighty trillion dollars so donald trump i have

hungry is that g.d.p. growth was minus there was a recession and.w they're recovering and they have been recovering for a couple of years now so it's a good development in the sense that there is a healthy g.d.p. growth and victor audubon and his government really as we just saw also that they are managing to get foreign investment into the country while at the same time doing some protectionist policies as well i mean our went to the northern hungary and city of jordan recently and they're all very elated and very happy about having the there it's really improved their city but at the same time of course is using all the e.u. funds to help his friends and his cronies. good bit of nepotism there and that's in the long run is not going to be very healthy for the hunger in the economy and that's all your business for now it's back to sara thank you so much there hard we are heading now to what has been described as one of the largest charity sell offs ever in the auction of peggy and david rockefeller their collection is expected to raise over half a

so you how ridiculous the charts are in the united states health care spending as a percentage of g.d.p. . just looking at the chart this is only going up to two thousand and seven actually gets worse is now seventeen over seventeen percent of g.d.p. in the united states remember it was i think john mccain who called russia you know a gas station operating as a nation where health were hospital pretending to be a nation so all of our cost seventeen over seventeen percent of g.d.p. is just health care spending and it's totally right it's an emergency care unit masquerading as a country that's america so you're saying that the work to do the work and the participation rate huge contributors to this corning to what you're pointing out here would be the incarceration rates which are very very high and health care costs which a disincentive people from working because the costs are outrageous you know to put this in the context you're saying that we pay twenty six to thirty one thousand dollars a year for health care when we're living in france you know the average wage for the french worker

commerce department reported that the first quarter growth the g.d.p. came in at two point three percent beating some economists expectations of one point eight percent although it is down from the q four g.d.p. of two point nine percent for a recollection of what happened last year the economy grew two point three percent for all of last year twenty seventeen which is actually a big increase over twenty sixteen of one point five percent and related to the commerce department we always report on and discuss those u.s. monthly employment numbers the unemployment numbers which are released by the department's bureau of labor statistics the b.l.s. on the first friday of the month so we'll get to those april numbers next week but something occurred to us which we thought merited more of an in-depth look at unemployment i like to say the numbers matter and they mean something and that's particularly the case in fourteen states which all have established new record low unemployment rates in the last year almost a decade after we saw those high unemployment ra

stands out as debt to g.d.p. ratio increasing you're saying we already have the emergence of a royal sort of family we have the clintons we have the bushes we have these royal sort of families member hillary clinton was the wife of a former president barbara bush just died she was the wife of a president and the mother of a president so we already have these world families and why do they you know whenever you're in london like we were for too many years what they always say is oh we love our royal family they bring in so much money because people tourists come to look at them so you're saying like why don't we start to make money off them like all these tacky hotels we could put those thousands and thousands of gifts that the president receives they're not allowed to personally keep it it's a product you know basically the taxpayer owns it but where is the. basement somewhere at the white house why do you just put them in all these luxury condo. you know a little trotsky's in the hotels replicas you can buy in t

stands out as debt to g.d.p. ratio increasing you're saying we already have the emergence of a royal sort of family we have the clintons we have the bushes we have these royal sort of families member hillary clinton was the wife of a former president barbara bush just died she was the wife of a president and the mother of a president so we already have these world families and why did the you know whenever you're in london like we were for too many years what they always say is oh we love our royal family they bring in so much money because the people tourists come to look at them so you're saying like why don't we start to make money off them like all these tacky hotels we could put those thousands and thousands of gifts that the president receives they're not allowed to personally keep it it's a product you know basically the taxpayer owns it but where is it like with. basement somewhere at the white house why do you just put them in all these luxury condo right you. know a little. in the hotels replicas you ca

his number being ninety percent of a country's g.d.p. . so they're finding was that at a threshold of ninety percent there's a rapid deterioration of growth all the sudden when debt crosses that now. ninety percent barrier growth collapses. using data analyzing national debt levels around the world rogosin reinhart's paper was a bombshell it was scientific proof for american and european conservatives who believed that addressing country's deficits was more important than fighting recession. there was an audience ready to hear a message that austerity was the solution ready to hear the public debt was the number one problem instead of the terrible global recession that we were facing in those years. this paper may have had a stronger impact on public debate than any previous study in the history of economic science. financial markets that are allowed to operate without oversight are not to blame for the financial crisis countries deficits were. the study's conclusions became the bible for supporters of a sturdy in the united states and in

to ill continue to commit g.d.p. to the development of our for the capabilities nato es of strengthening in the eastern flank and to international security. state and the united d the need to edge ed kiss -- the successful in handlingperation modern day security threats such cyber and m, informational warfare and proliferation. oday all of us committed it placing greater emphasis on advancing our economic and trade investment relationships. in ecognize great potential areas of innovation, modern echnologies and digital economy. we will explore possibilities forging new partnerships to this end. particularly proud of the latvian companies that generated more than 2,000 in the u.s., in georgia, in .orth carolina, in california it shows how important is this cooperation. the baltic states,and the united states agreed to promoting closer .eople-to-people contacts these contacts are very every member of our society. let me stress that president outstanding host tod today. us.ks for hosting a very important event where we

everyone you need to look at the stats of hungary since being run by or bun wages and pensions our g.d.p. is up unemployment is down and utility bills are down the stats show or been delivered to simple as that we're very happy hence the landslide victory loosely there clearly people who feel as steve does can you talk to us about some of the successes perhaps of the party. yes so the party indeed does appeal to a lot of people especially pension there who have very small pension i. grew up under communism and now feel like perhaps they were not when there's a chance ition to capitalism when i go to the ruling party town halls when politicians go to talk to the core voters most of the time they are over ninety five percent pension there who come to life and fifty guys politicians and six there and a clean class and the reason is that they are the biggest beneficiaries of. these programs that the pension raises the utility bill cause. they really enjoy that and they also like the fact that orbán provide a semblance of stability they don't like change very much so they like the message tha

first point that made was about money germany today reported it's not spending two percent of its g.d.p. its budget on defense and has demanded of nato members take a listen we addressed the need to strengthen nato and the nato alliance by ensuring that all member states honor their commitment to spend two percent and hopefully much more of g.d.p. on defense it is essential that our nato allies increase their financial contributions so that everyone is paying their fair share. so that's not the strongest show of shore and some people would argue when you're having a reunion board why do you think trump made the budget issue the very first point they are to the public. but i think we've seen worse soldado in comparison i think . that he wasn't above charms but maybe these kinds of state visits aren't really booked charmes also the sort of public relations aspect of it it's also something that's forgotten pretty fast afterwards but i think what has been achieved is a change in the tone of the relationship. this shrill tone which existed which has made many people concerned about the volat

european economic trends which are currently extremely favorable about four or five percent of the g.d.p. are coming in from the fund every year so that's a straight addition to the spending of a secure because i meant that the section is the sponsor and distribute targeted to the. clients. so so indeed there are loads of reasons you feel good in the country right now there are those have anything to do it's government policies it's use it and i don't want to answer this because it's a very complex. because of the merits of the government's economic policies and. often is and is always of the. widespread support probably not for races but for the. sponsors and immigration reform of the government among people which is undeniable of their world there are so many people were so desperate to get rid of this government because they see corruption they see if used to power they are concerned about the fate of democracy are polluting the foreign policy of the government just let me just let me just pose a pause here for a moment professor just because you you're talking about corruption and we

so they might approach one hundred percent of g.d.p. dads is something that concerns the i.m.f. because it might trigger inflation and cause a further downturn now that the u.s. is digging yourself deeper convo naaman thank you very much for that starbucks is closing down eight thousand stores in united states for an afternoon later this month so its employees can attend training to prevent racial discrimination the company which operates thirty thousand stores worldwide is scrambling to prevent a boycott triggered when two black men were arrested as a starbucks and philadelphia for trespassing. was it was. do we were married. yes. we did yes god or yes karen yes said ok god. protesters crowded into the starbucks in downtown philadelphia on monday appalled by the treatment of two black men at the hands of starbucks a company which is practically built social justice and inclusion into its marketing program. the two met had not purchased coffee but were minding their own business last week when a starbucks employee called the police to throw them out. images of the arrest spread

well the way the g.d.p. are as written is very hard to enforce and no one understands exactly under what situation there is going to be enforceability on how much data do you really need to be able to deliver results and then how do you make sure that if someone has your data that they're able to remove it right facebook has an unsolvable problem where if we say you can only have some data for the purposes of specific marketing where does that stop and where does it end they don't even want to open that can of worms so marks p.r. knows is this is instead of saying yes we comply with everything it's to not even you know they try to avoid that question entirely and to be able to say generally we agree with protect users generally we want to do everything you know i've met mark multiple times and we've talked about this i truly believe he wants to do the right thing i truly believe that he is here to actually bring the world together instead of to make money even though he is a billionaire i mean do you really

numbers china wants to keep their very fast g.d.p. growth at the level of six point five percent for this year so investors will be looking very closely if those numbers will be again very strong or maybe also being a little bit hers. ben franklin for us thank you. in turkey the economy seems to be ticking along nicely grew by more than seven percent last year that stronger than china's but turkey is fighting a growing currency crisis the turkish lira has been on a continuous downward spiral for many months president recip tired out of one sees an international conspiracy conspiracy or speculate as a work but what's really going on. turkey is cheaper than ever for foreign tourists the turkish lira continues to hit new lows against major currencies. it's lost nearly half its value against the euro for examples twenty fifty. but although that might be great for foreign visitors it's a huge problem for the country because it has to import commodities like oil and gas the country's central bank could apply the brakes by raising interest r

of china and if you look at the debt to g.d.p. ratio over in china that has just gone one way six forty two as the up side and these terrorist with a trade war is going to have an more advice impact on that and china one of the biggest drafters used to what that would happen so i think again the i.m.f. warning today in relation to that is very important i mean best as are paying attention so tariffs trade was nothing is good when it comes to gotten picture. you know we have seen some e.u. banks reporting their q one earnings in the last several days in particular barclays in santan there but let's talk about a major changing of the guard at deutsche bank germany's largest lender which has seen three years of straight losses and their share price has fallen by roughly twenty five percent this year alone the previous c.e.o. john cryan is out and christian center when the former bank code deputy is in what do you think mr sharing this experience will bring he's come from the research retail side of the banking endeavor there is he go

decade ago twenty years ago italy's economy was roughly twice the size of spain's italy's per capita g.d.p. is also projected to be by the i.m.f. to fall behind that of the czech republic and slovakia by two thousand and twenty three italy's debt to g.d.p. ratio is the second highest in the eurozone after greece and could become increasingly problematic for the eurozone. food manufacturer nestle has posted their q one earning statement declaring a profit of twenty one point three billion swiss francs on top of a strong two point eight percent increase in sales overall and a one point two percent growth rate in u.s. sales and while sales grew nicely investors say nestle profits are being held back by low prices meanwhile nestle and twenty three other chocolate trading manufacturing companies have made an agreement with the nations of the ivory coast and gonna to make cocoa cultivation more sustainable and prevent cocoa planting and protected areas illegal planting as harmed ivory coast forest home to rare endangered animal species including chimpanzees and the pygmy hippopotamus. the englis

i think g.d.p. per head in south korea was at parity with north korea that's just no longer the case north korea has an opportunity there were twenty five million people there was a sizeable a population and the population to be engaged as a river force and fault with it was like textiles for example and getting opportunities which are currently in place in some of the countries that some of my m.r. so potentially there is an opportunity for south korean capital to merge with relatively inexpensive all three labor and combine in certain areas of low cost manufacturing that's with such an opportunity is to mcafee and her contacts to be with us pleasure. still to come on counting the cost the question of copyright why artists in south sudan are struggling to benefit from their work. before thousands of survivors of a massive earthquake in the poor three years ago are still living in makeshift shelters they say the government has not lived up to its promise to provide them with permanent homes sabina s

called on nato allies to make good on their promise to increase defense spending to two percent of g.d.p. during a meeting in brussels he also said that the alliance should not return to business as usual with russia until it shows a clear change in its actions at least three palestinians have been killed and dozens injured in the latest protest at the gaza strip border fence hundreds of palestinians converged on the fit's friday israeli forces opened fire as a crowd trying to break through the border in south africa seven people were killed when a train struck a vehicle at a railway crossing in cape tell the authorities are investigating the cause of the collision which happened in the same place as a similar accident eight years ago in that accident ten children were killed. the leaders of north and south korea have agreed to formally in the state of war between their two countries sixty five years after an armistice brought the fighting to win and at the historic summit today kim jong owned and mungy in said that they will sign a formal peace treaty by the end of this year and their w