we've worked with the budget analyst this year, very closely with harvey rose's office and melissa lee melissa in particular, with kate cunningham [speaker not understood], and we do agree with the budget analyst report. i'm happy to answer any questions you might have. >> thank you. i see no questions from my colleagues. thanks, ms. crone enberg. mr. willie as well from her office. let's open this up for the budget and legislative analyst report. mr. rose? >> mr. chairman, members of the committee, on page 49 of our report, our recommended reductions total 77,5 56 and 13-14 much which 73,877 are one-time savings. 3659 are ongoing. these reductions would still allow an increase of about 21.9 million or 45.9% in the department's budget. for 13-14. ~ and on page 50 we note that we are also recommending closing out prior year unexpended general fund encumbrances which would allow the return of $625 to the general fund. so, together these recommendations will result in 78,181 savings to the general fund in 13-14 and for 14-15 our recommended reductions total 3,6 81 which are ongoing savings. would

melissa lee. thanks so much for watching. meantime, "power lunch" begins right now. >> "halftime is over" and "power lunch" and the second half of the trading day starts right now. >> melissa, thanks very much. we've heard a lot about investment money fueling the housing market. investors pouring in. now that money may be drying up, so what could it mean for your house's value? our real estate expert diana olick has the answer on that one. >>> also today on "power lunch," this man, the second richest man in the world, carlos slim on the state of the economy and his thoughts on what will happen if the fed pulls back. michelle is down there and talking to him. >>> and a worldwide travel warning. if you need to fly, you need to watch this report and then check the status of your flight. first though to sue at the nyse. sue? >> hi, ty. our top story right now. a pretty dramatic market comeback. earlier this morning the markets, especially the futures, were pointing for a sharply lower opening. we did start down triple digits in large part because the bank of japan did nothing. they left their interest rate policy unchanged. throughout the morning and past noon, you see stocks

melissa lee. thanks so much for watching. meantime, "power lunch" begins right now. >> "halftime is over" and "power lunch" and the second half of the trading day starts right now. >> melissaey fueling the housing market. investors pouring in. now that money may be drying up, so what could it mean for your house's value? our real estate expert diana olick has the answer on that one. >>> also today on "power lunch," this man, the second richest man in the world, carlos slim on the state of the economy and his thoughts on what will happen if the fed pulls back. michelle is down there and talking to him. >>> and a worldwide travel warning. if you need to fly, you need to watch this report and then check