president obama sent jack lu there and it was really exciting. that reform and everything that was happening in china. so it was really good. as i told our guys, we have some good contacts, but we have to follow up. one of the things about china is they made it clear, we don't like conference calls. we don't like talking on the phone. we want to sit down and break bread with you. we invest with people. i think that was so important and so hands-on. i want to mention about the chairman of costco. chairman wi. costco now is the second largest shipment in the world. he told a story to me and jim and peter which i thought was really i was in. he said i have been the chairman of costco since 1997. business is a funny animal. he says you can take a business up and take your business to the ground. he was so right on, because when you are in china, when you are 60 you have to retire. he's getting close to that age and he's got the other guys there and he said they are going to be running the show. i thought it was good that he talked about that. i'm goi

did the president with his then budget secretary jack lu come up with the sequester and if he didn't like it why did he sign it into law? >> the republicans at the time is celebrated the success of the getting the sequester in. >> judge jeanine: if it was so bad for america why did he sign it? >> they were rushing through crysupercommittee and debt where we lost our triple-a bond rating for the first time in history because of the republican intransigence and the house of representatives. obama said we are going to go forward with this. you can't get water out the of a rock and that is what the republicans in the house are acting like right now. just obstructing the president and obstructing all progress in the country. >> judge jeanine: tony, let me ask you this. if this is all the republicans fault, first of all, you have is obama and he has the senate dems. they haven't passed a budget four years. >> 1400 days. longest in modern history. ryan hasn't one watching the reporting that comes out of bob woodward who is the gold standard of the mainstream media who called the president o

. >> we're getting a read-out from a treasury official on a meeting this afternoon involving jack luretary with executives from the financial services industry. the primary topic, cyber security, and specifically that official telling us the commitment to improve the resilience of cyber attacks, reducing future threats. the groups also discussing efforts by treasury, government partners and financial institutions to share information and specifically talk about the need for proposed legislation going forward. one other item of interest, secretary lew also discussing his conversations with china's leadership this week about the serious cyber threat intrusions posed to our intellectual properties. very interesting meeting, the possibility for the need for the proposed legislation. back to you. >> thank you hampton in d.c. coming up next, we're trading your tweets. stay tuned. [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] .

that was substantially before, many days before the president and through the person of jack lu talk about the making that a part of a piece of legislation that we needed so that we did not default on the national debt. and for the first time not only since i've been serving the congress, some 32 years, but the first time in history as a result of that action of coming so close to defaulting on the national debt this country was downgraded by a single point. the gentleman talked about the stem bill that was passed and i voted for, he voted for, the overwhelming majority of democrats and republicans voted for it, to help our economy. that event substantially hurt our economy. mr. speaker, the inability to get to agreement on this sequester is hurting the economy. and i will tell my friend that we've offered three times to have a bill considered as an alternative to sequester which cuts spending, raises some additional revenues. i know the gentleman is going to give me a lecture about raising taxes. i understand that. but i would urge the gentleman, let a vote happen on this floor. let

jack lu is the new deputy secretary.l have to be let go due to spending cuts. 300 illegal immigrants have been released from jail in arizona or as officials put it, catcha later. >> "early start" continues right now. >>> presumed dead, the developing news not good right now after a man was swallowed up by a sink hole that opened up right under his bedroom. we're going to be live at the scene for you. >>> and happening right now, a wildfire raging out of control. these flames creeping dangerously close to homes. >>> and steep and painful spending cuts, all signs say they'll take effect by the end of the day with washington nearly powerless now to stop it. >>> and the odd couple in north korea. east meets west with dennis rodman and kim jung-un together at last. yes, they are. welcome to "early start." >> it is friday, march 1st. it is just about 6:00 a.m. in the east. we have brand new information about that sink hole that actually opened up underneath a man's bedroom and swallowed him into it. he is now presumed dead. th

he came in, in many ways, with a leg up on even a jack lu.urrent republican senators and i think so he is pushing this a little bit. and i think the president realizes they messed up. they totally blew the sequester politics on this. what they thought was going to happen and how they thought republicans were going to respond to sequester was not what happened. and i think had, you know, knowing now what they -- knowing then what they knew now, by the way, i think at the end of 2012, you would have had a different set of negotiations. you would have had a president more motivated to get the bigger deal and get it all done then. i think he thought, for some reason, that his momentum of winning was going to carryover and he was going to win all of these budget battles and grind it out. i think they realize they totally miscalculated sequester so they are starting over. >> michael, if there is going to be a grand bargain here there has to be revenue in some form or another. maybe it's close loopholes. where do the republicans move on that questio

that was substantially before, many days before the president and through the person of jack lu talk about the making that a part of a piece of legislation that we needed so that we did not default on the national debt. and for the first time not only since i've been serving the congress, some 32 years, but the first time in history as a result of that action of coming so close to defaulting on the national debt this country was downgraded by a single point. the gentleman talked about the stem bill that was passed and i voted for, he voted for, the overwhelming majority of democrats and republicans voted for it, to help our economy. that event substantially hurt our economy. mr. speaker, the inability to get to agreement on this sequester is hurting the economy. and i will tell my friend that we've offered three times to have a bill considered as an alternative to sequester which cuts spending, raises some additional revenues. i know the gentleman is going to give me a lecture about raising taxes. i understand that. but i would urge the gentleman, let a vote happen on this floor. let