i belong to moody's analytics , which is the research arm of the moody's corporation which is independentivision of the moody'sorporation -- corporation. i had nothing to do with the rating agency. firme my own consulting that was built from nothing and have over a hundred employees and i sold it to moody's corporation right before the crisis hit so i had absolutely nothing to do with the ratings process or the mortgage securities. i was an independent economist and i sold my company to moody's. host: for viewers want to check out moody's analytics. guest: you can go to moody's analytics, economy.com. i bought that url back at y2k in the middle of the internet boom so we own it. economy.com. you can go there and take a look as well. host: david is up next in new jersey, line for democrats. caller: good morning. i had a question about what the treasury has been doing for most of the current calendar year with regard to the national debt using extraordinary measures to freeze the national debt for the last seven months. how are they doing that and what is going to happen when they do raise

i belong to moody's analytics , which is the research arm of the moody's corporation which is an independent division. sarah huckabee sanders: good afternoon. it is good to be back. you guys don't seem nearly as excited. i thought for sure there would be balloons. we will save that for next time, i guess. are there this week from the president delivered his first primetime address to the nation on our path forward in afghanistan and south asia. his tragedy is based on conditions on the ground, not arbitrary timetables. it will ensure terrorists never again use afghanistan as a haven to attack united states. the brave women and men of our military have given extra nares sacrifices -- extraordinary sacrifices. the president recognized the sacrifices on monday at his speech. a gentleman from santa fe, letteree sent his son a nearly 10 years ago while he was serving our country in iraq. now, his son is on his second were of duty in afghanistan and his father has generously shared the letter and mailed it to the president. he's been a police officer for this30 years and he sent letter to his son

we're looking at the end of the ppi claims, the libor and doj claims >> let me clarify that at moody's we think that it's not the end of litigation, though as we indicate in our banking system outlook for the uk we expect the costs to come down. regarding rbs specifically, the drivers behind the profit that they made in the first half is obviously partly due to lore litigation and costs >> andrea, thank you very much for that >> thank you >>> on the subject of the banking sector, cnbc will be speaking with jamie dimon early next week. you can watch that interview on tuesday at 17:30 cet >>> we were just talking about it with our guest, brexit uncertainty is stalling growth, that's according to mark carney. speaking at his press conference, carney said the devil is in the data >> uncertainty about the eventual relationships are weighing on the decisions of some businesses. but it is still down from the 1,000 businesses in our decisionmaker panel which is run by our agents, but 40% of those businesses are affected in some way, either through the supply chain or -- and markets by uncertai

noble is downgraded again, moody's worried about default.h all these north korean tensions, with got gold going up late. we also see action on the equity markets reflecting the simmering words taking place between pyongyang and washington dc. i talked to a currency trader yesterday. aboutasking questions what is most, and he said it coin -- bitcoin. bitcoin has gone over the 4000 level. a flight to safety, you could argue. it is mirroring what is going on with gold prices.nonetheless , it is a traditional haven. is bitcoin also a place where people can take refuge? this is continuing in the week -- wake of a split that has taken place with the crypto currency. incredibles pretty what a world we live in where the chinese currency and cryptocurrencies are aware investors are seeking havens. elsewhere, risk back on the table. we had a rally overnight in wall street. as the war of words is turning into a war of action, suddenly so markets are getting back, in action. last week was a correction within a broad trend is the question, or whether thi

. >> they expect a credit rating decision by moody's. how would be downgraded affect the economy? we have the key ratings and the anticipation is no downgrade. risk with moody's on the negative outlook and there the riskcurrency and is that we could see it move back to the dollar again. >> the indication seems to be that if you lawmakers will support this motion. what chances do you put on this? isi say that this no-confidence vote not going inough and it will remain power. obviously, the opposition party i strongly against that and think that there will be a close vote. it does seem like the odds are in favor of the president. >> in johannesburg, please stick around. we want to get your views on currency and oil. if you want to rewatch the interview, there is the function on the bloomberg terminal and you can send us your questions. we will try to get through them. do keep in touch with us. this is bloomberg. got you outnumbered. the dinosaurs' extinction... don't listen to them. not appropriate. now i'm mashing these potatoes with my stick of butter... why don't you sit over her

. >> on august 3rd it's ironic because moodies still has aaa rating on the u.s.ars ago in 2011 in august downgraded it one notch but the paper that was put out earlier in the month talks about how higher interest rates rising debt, lower revenue, all of these things summarized interest costs to revenue ratio that deterioration makes moody's nervous can you explain? >> yeah. the bottom line is its already begun. debt affordability the ratio of interest rates, interest costs to general government revenues are rising and we expect them to continue rising >> that can occur in various forms. all of that is going to change the me tricks a bit. there's an assumption that over the next five years moody's believes medium term rates will nearly double. i don't disagree with at a but that assumption hasn't been correct in the past. how much weight is put on that particular notion? it's a baseline scenario over the next ten years so if medium term rates don't rise by as much as we would expect you wouldn't see this ratio get as -- it wouldn't be as bad as our baseline scenar

so and moody, wrote coming-of-age in mississippi. she was arrested in a jackson city sitting and 63. one of the things that happened in that setting is all of the white people behind her doused her with condiments. this happened a lot she leaves the city and ends up eventually retreating into a beauty shop. she knows the beautician will be sympathetic to her. and will help her and repair her body in full in the wake of this humiliating attack. so the women who are there insisted that she be moved to the head of the line so the beautician can wash her hair. she washes all of the gunk router. something like beauty, it was very much tangled up it was with the realities of jim crow. the pursuit of beauty was one way to strengthen jim crow. it was one way to attack jim crow. a set of rituals and practices that were available to women living in the south. how they used it depended upon who they were and what they wanted it was there in use. the women did use it in this way. >> you're watching book tv on c-span2 in prime time. television fo

today, after moody's downgraded trying to shift focus away from the saudi led bloc's demand.e asked bloomberg's middle east executive editor if the invoice will be able to move its block off its hard-line stance. reporter: the 13 demands can be part of the six. the six are just vaguer. they are more general statements of principle, which obviously would open the door to some negotiation to some agreement. the six are based on agreements qatar has already signed. you think it would be easier to get to some sort of deal there. it is the u.s. envoys trying to push the conversation back to these broader principles rather than these very specific 13 demands. shery: where does that leave the u.s.? will they be able to achieve this? reporter: they are certainly trying. we've had a couple of weeks where not much was happening. the sense was that things are really stuck. as yousef pointed out, it went from a hopeful phase where they did seem to be some progress between qatar and the u.s. the allies actually said that that was a positive step, but not enough yet. going back to this lis

oliver: this comes after what seems like moody's is determining to be did eurasian and fundamentals,ng at competitive pressures as well as best deterioration in feminist, looking at competitive pressures. not completely negative, but the highest graded debt to get downgraded. they are setting energy as well as industrial infrastructure units that have cleared out the backlog. there are delays involved in what they want to get done. since. the downtrend joe: infrastructure can meet a lot of different things. a lot of infrastructure companies are energy companies. is this the kind of company that would theoretically love to see one truly dollars of government spending? this is a recent debate the stock -- it is one of the top 10 gainers the election. it is after getting pretty much obliterated, down double digits. it is one of the top 10 industrial camesa the more clarity you get in any respect on infrastructure, it could put a bit of a floor -- joe: floor underfloor. oliver: didn't even mean to do it. scarlet: when you talk about the rating downgrade, you have to look at the cash flow

rupertus, known to be complex, moody and sometimes unapproachable. >> he was a troubled -- psychologicallyroubled man. he did not have the support of many of the officers that worked for him in the 1st marine division. >> some felt rupertus hadn't recovered from the tragic loss of his wife and two children who died 15 years earlier from scarlet fever while living in china. >> he should not have been in charge. he should not have been in command of that division. >> four days before the marines made the trip to peleliu, general rupertus boldly predicted the invasion would be tough but quick, taking only two to three days. >> describe how the mission was briefed to you as battalion commander. >> we were pretty much expected to go ashore, secure the airfield, upgrade it, get some exercise, get back on the ship. >> i was a pac at the time. we don't get much information except we did know that the japs had been there quite a while. it would be fast and furious, as general rupertus said. and, of course, that got us to worrying. that's okay about the fast, but what about this furious business? >>

and moody's is nervous about the future they've got a big assumption and i'm not saying it's not correctyou don't even need to be -- you have to be in the assumption business if you're handicapping the global economy like the rating agencies their thought is, over the next five years, you could see medium term rates almost double i heard that five years ago, and they haven't almost doubled. but they could be right. the point is, is that all of this math is very good, except for it forgets one thing is it really built on a solid foundation and that's the issue and you need to be on top of that because policy can change like that mike santoli, back to you. >> all right, rick, we will try to stay on top of all of that. appreciate it. >>> straight ahead, a busy morning for elon musk and tesla including a new price for the dex v. details after this because, when you really, really want to be there, but you can't. at cognizant, we're helping today's leading media companies create more immersive ways to experience entertainment with new digital systems and technologies. get ready, because we're

>> yeah. >> moody is expanding.own in lynchburg. >> across state line? hell no. you can't just tell me that. like i ain't got no say in the matter. >> you'll still get your days. this will be in lynchburg. you can drive across state line to pick her up. i have full custody. >> it's not happening. i'm getting a lawyer. >> with what money? >> jimmy: yeah! come on! [ cheers and applause ] oh exciting. we always ask to you play a a game. we love having you on the show. >> i'm ready for it. >> jimmy: you ready? this game involves -- involves this. >> just something small. >> jimmy: it's just something small. stick around. katie and i are playing pop culture when we come back everybody. [ cheers and applause ] ♪ what are all these different topped & loaded meals? it's an american favorite on top of an american favorite, alice. it's like labor day weekend on top of the fourth of july. hotdogs. get your favorites on top of your favorites. only at applebee's. except for every ladies' night. vegetarian... get your favorites o

> it has been difficult, and she has more fun with me when i'm drinking beer and i'm a little less moody, and i talk about things that are more interesting than the ab workout i did that day or my pale owe diet. >> chris pratt has his diet, and the clooneys. look at them after a tennis match together in italy. i'm happy they got a day out. a parents' day out without those babies. >> i can't believe they found time. of course, she has the cutest tennis outfit on to match george, right? >> thshe always looks great. >> many of hollywood's finest were out starting with a solo orlando bloom hoping for a quick escape. >> are you and katy perry getting back together? >> hounded yesterday at lax, holding a smile. his t-shirt asked for one in return, but all these paps were interested in was his weekend reunion with his ex. ♪ >> marriage might be a stretch, especially since less than 24 hours after his concert pda fest with katy, this happened. bloom spotted getting very close to a blonde companion in the waters off malibu. another single star, brad pitt back to work. looking tan and fit on the l

. >> reporter: professional chefs like david moody are trading in traditional brick and mortar restaurantsrendy pop-up dinners. cook at homes like his here in wilmington. featuring a seven course meal inspired by southern india. the website feastly has been called the culinary equivalent to airbnb local chefs post pop pop-up fixed menu dinners night after night ranging from 30 to 120 bucks ahead. >> there's more chefs than there are restaurants in some cities, so and there's lot of frustrated home cooks that really want to showcase what they're able to do. >> reporter: only rule, you can sit next to your own date. you break bread with strangers. putting the focus on not just the food. >> they enter a strangers and leave as friends. >> reporter: now right now, feast system only available in the will morning ton area but will be going live soon in philadelphia. the hope is to have anywhere from 40 to 50 pop up dinners to choose from on any given weekend iain. i can tell you first hand, the meal absolutely delicious. >> it look great, chris. thanks. >>> all right. fresco users tonight out com

coping such as becoming more moody, anxious, unable to sleep, and restlessness. >>> okay, and harvey's impact is far there over. in fact it's still pouring -- from over. in fact it's still pouring rain in some areas, now let's bring it to beaumont. they have had over 24-inches of rain and counting within just a day. so that's about an inch an hour if not a lot more. in fact a lot of that fell within just 12 hours or so. so now their homes are submerged and nay need a lot -- they need a lot of help and rescuing as well on top of what's going on just west getting a little bit of motion and that's a sign of maybe it will be out of here by tomorrow. it's still raining in texas. and it's still raining in beaumont. now this will move to the north and east ever so slowly. by tomorrow, we'll finally be done with the rain in texas. that will be six days where it was raining in texas all from harvey. so you can see some areas are doing okay and new orleans just seeing some scattered showers. actually seeing some of the heavier bands stayed over -- two states over rather into alabama. they gettin

coming up wednesday morning, chief economist and co-founder of moody's talks about the potential debt ceiling fight and it's possible effect on wall street. talks aboutrofessor the future of the children's health insurance program. and reviewing the competitive industry report. be sure to watch c-span's "washington journal," live wednesday morning at 7:00 a.m. eastern. join the discussion. >> tomorrow on c-span, a panel discussion on the political and human rights in the democratic people's republic of the congo. live on cspan2 tomorrow, a look at the government accountability office list of government agencies and programs that are and thek vulnerabilities, fraud, waste, and mismanagement. live coverage beginning at 8:30 a.m. eastern on c-span2. this week on c-span, wednesday at 8:00 p.m., former president storage to and bill clinton on leadership. thanks -- >> i got lucky. i don't care what anybody says. all these people say they were born in a log cabin they built themselves. they are full of bull. announcer: wednesday, we will look at pending proposals for the federal budget and f

the defendant described as moody frightening and provocative. among the claims made by neighbors to us there have been multiple police calls to the defendant's house because of his behavior and at least once in the not too distant past he sat outside in front of his house with a firearm next to him. unnerving they said. tears hugs and red rimmed eyes as people comforted one another and tried to process the sudden violent death of a gentleman. 51-year-old brooks jennings. >> he would just the guy who was always getting people together, never had an enemy that i know of. >> reporter: there was one apparently 51-year-old clayton carter a next door neighbor. these anti-trump protest signs made his house easy to spot. other neighbors say carter was often quarrel some but it wasn't politics but some other grudge only carter seemed to understand. >> we steered clear of him. we were frightened of him because he's so unpredictable. >> reporter: today the unpredictable carter warp rained for fatal -- was arraigned for fatally shooting jennings. everyings

moody's said expanded u.s. sanctions may have a negative effect on russia's credit outlook because it would likely deter further investment and exacerbate tension between russia and the west. that is the range. i think the business is ideal with, their big concern which go back to the original senate bill are about how to affect the fact america's competitiveness. asianw does it affect he counterparts? i think those are the biggest issues. i think we all plan to work with the trump administration to try implementation leaves a level playing field for american businesses in russia. paul asked me to focus on the question of whether these new sanctions will affect russian behavior. there is a fairly short easy answer to that question. that is, yes it will. the bad news is that will probably not affect russian behavior in the ways we hoped. to belikely counterproductive. i want to walk through my reasoning behind that conclusion. the first is the nature of deterrence and how you deter adversaries. tore are two aspe

moody's is out with a report analyzing the credit risks.he report, bruce clark, joins us with the details. summarize the risks with tesla. bruce: three risks. the company is looking to bring out and make her great product, wrapping up reduction in an extraordinarily aggressive manner. scarlet: model three. bruce: model three, yes. if you look at a historic performance, not making a lot of money, burning through a lot of cash, and that will continue into 2018. julia: they are set to raise $1.5 billion. urn the last few months is $1 billion. that is pretty tight. we did a pretty thorough liquidity analysis coming up with our rating on that issue. our views they have adequate liquidity running through 2018. 2019, they may need to raise additional money. julia: do think, as you have said, the model 3, a gross margin of 25% year. let's say they do that. then what? bruce: if they do that, that will be an important sign that number one, it is really pretty good, and number two, they are ate to produce the vehicles reasonable rates. double be an im

[moody music] ♪ >> brady: so you went for a walk. did you go anywhere particular? ♪

moody's says that operating margins are shrinking.an they afford to let them shrink? jennifer: this fiscal year is the largest amount of investment they are willing to do. as they move into the next fiscal year, that should ease somewhat. vonnie: more than 90% of retail sales are still done in stores, no? jennifer: it's about penetration into local communities. the vast majority of the revenue comes from these stores, which is why it so important that they continue to build same sort -- same-store sales. vonnie: jennifer bartashaus of bloomberg intelligence, thank you, she's our retail staples analyst. nejra: time for the bloomberg business flash, time for one of the biggest stories in the news right now. walgreens will give antitrust officials more time to review its plan to purchase more than 2000 rite aid stores. with thes were unhappy original $7.4 billion takeover proposal. the company said that they would buy less for fewer rite aid stores. the city of cleveland is number one in a survey that it would rather not be a part of. cl

background is in journalism obviously you've done some work how hard was it to go completely s historian moody and what were the challenges from yourchalle perspective? >> i've worked as a journalist for many years. it was a huge challenge. i didn't know what i was doing it first. i didn't know how to access the papers. i discovered a lot of the documentation was held at thee library of congress, the archives and also these universities across the country. i don't do i need to show i have a phd in history before they let me in, of course not. go to the library of congress, sign up for a researcher card and they let you in. i was holding the papers of alexander graham bell in my hands at one point. it's very exciting. but yes, it was a lot of work just to figure out where the various archives of relevance were in finding the relevantvanx boxes and going through boxes and boxes of handwritten letters and newspaper articles. first it seemed daunting and overwhelming independent became tremendous fun because it was a treasure hunt. they look through a lot of stu stuff. now that i've done it once,

joining us is mark zandi, chief economist at moody's analytics good to see you. important is all of this obviously things are more important than others but how important is this to the functioning of the economy >> you mean tax reform specifically >> yeah. >> well, tax reform doesn't mean anything for the economy, you know, next quarter or even next year, but it is very important to the economy's long-term growth prospect. the tax code is obviously -- it needs a lot of work and could use a reform of lower rates and that would be very good for the economy in the longer run. it's not a big issue but ten years from now it's a big deal >> so what do you expect let's talk about this quarter, next quarter the economy seems to be doing reasonably well. what do you think? >> the economy is find lawmakers, the administration and congress have to sign two pieces of legislation. one is funding the government so by the end of the fiscal year, if they don't have a budget in place, the government will shut down more importantly, the treasury debt limit, they need legislation

and moody's estimates harvey will result in $5 billion in lost economic output and up to $10 billion in property damage. that's hurricane matthew last year and in comparison hurricane katrina caused $140 billion in total losses in 2005. about half of the property damage should be covered by insurance with the rest by state and federal aid. marcus and laura, back over to you. >> a tough go for those folks. thank you very much. >>> at 5:17 right now, apple has opened a page on itunes where people can make hurricane harvey related donations to the red cross. 100% of proceeds go to the red cross. apple says no personal information will be shared. >>> right now as we look across having our issue here. >> just blocking anything from moving around and the next couple of days we'll hold steady here with the high heat and will also not really move much. we're still seeing fog rolling over san francisco right now as we take a live look outside. getting started this morning with cool temperatures there. we also have a heat advisory in effect until 9:00. morgan hill, santa rosa over 100 degrees

guardianlk hh60's with angel or rescue folks, and fact, that same capacity has been prepositioned for the moody air in terms being able to popped. i'm not acquire if they've become deployed now. >> air guard have been called on? knowledge.y they remain pretty busy in the in in alaska doing rescues of their own. they're called on almost daily state of alaska. >> i know you didn't have at the head, which other states are involved. thewe take that for are record so we can find out how many states are involved? >> absolutely. afteryou have any tips 3500 rescues, should a citizen coming hour orin houston come under the need for whattance and rescue, should they do? what advice do you have? >> we always try to echo what civil authorities either in houston. we'll always echo their messages in terms of that. if you're going to travel and you will travel through water turn around. not worth going through. the rescues it's good for the not the attic. we can see you when you're on the raff. there's potential to be trapped your attic. messaging the same thing civil authorities specifically in houston doing

moody's analytics estimates the storm will result in $30 billion $40 billion in property damage and 7 billion in lost output, most restaurants and retailers shuddered this week. region plays size in of economy, gross output 441 billion represents 2.4% of the nation's economy. that doesn't tell the entire story, it is among the top three hubs for oil and chemical production and number two the busiest and airports, estimates are underway impact of assess the this storm. lso, the human toll reports of 10 or more deaths attributed the tly to harvey and flooding it's caused. quincy, illinois. good morning. caller: good morning. heard quote rush, i some weather person back in recorded place they 55 inches of rain. we have 37 inches, which amounts to almost 50% more back and that is before everything was covered with oncrete and a lot faster runoff, if that is true, i don't now how that happened without climate change. host: marsha, austin, texas, go ahead. caller: hi, good morning, y'all. that trump member and disfunded the e.p.a. trump is disfunding all the tudies for u.s. geologic survey.

. >> moody's estimates harvey will result in $5 billion in lost economic output and up to $10 billion in property damage similar to hurricane matthew last year. in comparison hurricane katrina caused $140 billion in losses in 2005. half of property damage could be recovered by insurance. arrests should be covered by state and federal aid. >>> apple is making it easier to help victims of hurricane harvey. people can donate to the red cross. >> happening today prices will go down at whole foods nationwide. >> the grocery chains close today. amazon says all shoppers can expect lower prices like fruit, vegetables, eggs and peanut butter. people are joking online that whole foods may finally shed the nickname whole paycheck. 6:18 right now. a whole lot of kids to feed in my house. packing those lunches early this morning. if you get a chance get outdoors right now. early morning hikes, the coolest part of the day before the sun rises. we have that he can sexcessive warning. the camera in dublin is expect to hit triple digits there. >> right now, kari, a lot of people are wondering. >> tryi

. >> we know men are moody. >> especially after they win the lottery. >> pause for effect. >> now researchers are offering advice to save us all from the male mood swings. >> it all goes back to the lottery. i'm 5:38, 78, i'm upset and leaving, back in a moment. >> wednesday, august 23, time 5:41. let the cool down begin. expected mid 80s today. this is first day of cooling temperatures. gary is up with your full wednesday forecast. >> in the news this morning a new study revealing potential link between b 6 and b 12 vitamin supplements and lung cancer and study followed more than 75,000 people over ten years and found almost t two-fold increase in lung cancer in men that took highest of b vitamins. smokers had a greater risk. how much was too much. doses exceed what you would pills increased lung cancer cases were not seen for women or with any other b vitamin folate. >> new study out of australia to understand daily mood swings many in men. average man's mood mrements . they're at best 10 a.m. and 7 . if you want to avoid afternoon slump doctors advice eating lunch outside to boost vitamin

. >> now, moodys says harvey knocked about 10% of america's refining capacity offline. that's the low end some firms estimate as much as 27% of the u.s. refining capacity has been impacted brian sullivan live in galveston, texas, with more. over to you. >> nathank you. contessa, if you can hear me, get ready for more rain. it is supposed to rain all day let's get back to the story of the refiners it is hard to know when you say rain, seema, 10% would below. there are reports as high as 27%. if the rain continues and swings to the east to port arthur and beaumont where there are four more big refineries, it could go as high as 30% of u.s. refinery capacity that is taken offline the reason we don't know the exact number is a lot of the companies haven't given it or they don't know a firm statement and they are trying to evaluate. it takes people to evaluate and people can't get to where they are going. when you are trying to save your family or your home, you are probably not thinking about going to your job at the refinery labor is going to be a big issue. barclay's addr

. >> professional chefs like david moody are trading in traditional brick and mortar restaurant, for at homes. >> this is what it would be. >> he held this one in his wilmington home guiding us through a meal inspired by southern india. dishes like simous puff, curry beef, with yogurt rice ... >> people that dine out all the time, and just another outlet for them to venture out into. >> a website called feast leave has been called the culinary equivalent to air bnb. they makes pop up night after night ranging from 30 to 120 bucks a a head. >> there is more chefs than there are restaurants in some cities. so there is a lot of frustrated home cooks that really want to showcase what they're able to do. >> after a welcome drink, and meeting with the chef, we are breaking bread with complete strangers in david's dining room. >> so you actually look forward -- >> the only rule? i couldn't sit next to my wife. i sat next to kathy for dinner, the experience puts the focus not just on the food, but the people you eat it with. >> i would do it again. just for the social aspect of it. i like me

we will talk with the chief economist of moody's analytics.e will talk about the debt ceiling and wall street. the deadline is coming up to raise the debt ceiling. stick around. that is coming up in about a half hour this morning on the washington journal. dave is on the line for republicans. go ahead. caller: yes sir. i've a statement to make about charlottesville. if no one from the left had shown up in schulz felt and just let the idiots do their little rally about the statute, it would have been a fifth page story in a local newspaper, and you would never have had any of this. that is it. plain and simple. if you do not show up to protest these dummies, they do not get national press. you show up in protest, and they have national coverage all week now. host: alan is up next on the line for republicans. caller: yes, thank you for having me. i am listening to all these people call in. they are obviously not watching true news. they are watching editorials, peoples with opinion -- people with opinions. the fact of the matter is that this man

of hurricane harvey, and the tropical storm, and usa today is putting the price tag, according to moodynalytics at $160 billion, as being the potential cost. larger than recent storms that we have seen. abbottas governor, greg yesterday, talking about the impact of the storm: when you look at comparisons, the population size and square mile size of the area impacted, both by the hurricane swath and the flooding, is far larger than katrina. for larger than sandy. correctly, and i will not have a precise number here, my recollection is that the katrina funding was well over $100 billion. over $125 billion. on a parallel standard, it should be far in excess of that amount. i want you to know, i have been working with senator cornyn who is on the senate finance committee, who has provided me the categories of funding that were provided for fema. we are working to use those categories as a general outline of what will be provided. host: texas governor there saying that the cost will be much more for taxpayers than it was for hurricane katrina and other recent storms. the president yesterday

. >> professional chefs like david moody trading in traditional brick and mortar restaurants for trendyooked at homes. >> empanada and -- he helped this one in his wilmington home guiding us through a meal inspired by southern india. dishes like puff with peach chutney. grouper roasted in banana leaf and curry beef with yogurt rice. >> people that dine out all the time and just another outlet for them to venture out into. >> reporter: website called feastly has been called the culinary equivalent to airbnb local chefs post pop-up fixed menu dinners night after night ranging from 30 to 120 bucks a head. >> there's more chefs than there are restaurants in in some cities an lot of frustrated home cooks that really want to showcase what they're able to do. >> reporter: after a welcomed drink and a meeting with the chef, we were breaking bread with complete strangers in dav david's dining room. >> so you actually look forward because every kitchen is a different flavor. >> only rule i couldn't sit next to my wife. i sat next to kathy for dinner. the experience puts the focus not just on the

by standard &ed poor's and moody's twice over the last several years. we have created an environment with $1.6 billion in capital investment in the urban core. year withished every a balanced budget. i would love if the federal government and many state governments could also model that same type of behavior. realize the money we do come up and advocate actually comes from our cities. federal dollars are not man a manna from -- not heaven. the dollarsee repatriated back home. i think that is important. as a move forward with the budget and tax reform and other issues, is important that we asked the federal government to continue to be a partner and not shift some federal burdens onto our state and local governments. obviously around the issue of infrastructure and preservation, we've had bonds for the major issues. we want to make sure they remain part of the voice. >> at the local level money is money. it is not just ammunition used when clinical battles -- used to win political battles. dollar, likeh a the parents of a large family. we figure out how

. >>> and moody's estimates harvey will result in $5 billion in lost economic output. up to $10 billion in property damage. that's similar to hurricane matthew last year. in comparison, hurricane katrina caused $140 billion in total loss in 2005. about half of property damage with the rest by state and federal aid. >>> with your morning business report, i'm landon dowdy. >>> we have seen some amazing rescues of people and pets impacted by harvey, but take a look at this. deputies in one county rounded up a herd of cows. they were trapped in the flooding. two dogs and even someone on horseback helped. they trekked down the highway 40 miles outside of houston. that wasn't the only cattle rescue. this herd escaped its dairy farm to look for higher ground. it puts it in perspective that this impact is not just on humans. >> yeah. >> texas is huge. we don't think about the cattle, farmland. >> there's so much going on. houston the fourth largest city in the country. already seeing over two feet. i mean, that's amazing. two feet of rain. >> and more coming. >> 15 to 20 inche

. >> mark zandi, chief economist at moody's analytics. we always appreciate your time. >> thank you. >> c-span's washington journal, life every day with news and policy issues that impact you. coming wednesday morning, join as we talkjournal with people from memphis, st. petersburg florida, about the debate over confederate monuments and efforts to remove them. be sure to watch, live at 7:00 eastern on thursday morning. join the discussion. >> former president george w. bush and president clinton were in dallas to talk about leadership. they also talked about their time in office and there are alliance as ex-president. it was hosted by the george w. bush and bill clinton presidential libraries and it is just about 50 minutes. [applause] >> pretty strong, tough to follow that act. i would like to think mrs. bush. -- i would like to start by acknowledging the presence of mrs. bush, thank you very much for being here. [applause] >> actually, i was supposed to do that. [laughter] well, how are your parents doing? former president bush: i hate

we have upgraded by standard & poor's and moody's twice over the last several years. we have created an environment with $1.6 billion in capital investment in the urban core. our unemployment rate is lower than the national average at 1.2%, and we finish every year with a balanced budget. i would love if the federal government and many of our state governments could also model that same type of behavior. at some point, i think that people realize the money we do come up and advocate actually comes from our cities. federal dollars are not manna from heaven that fall down on cities. april 15, we want to see those repatriated back dollars home. so i think that is important. and as a move forward with the budget and tax reform and other issues, it is so important that we asked the federal government to continue to be a partner and not shift some of those federal burdens onto our state and local governments, and, obviously around the issue of , infrastructure and preservation, bonds, it is a major issue. we want to make sure they remain part of the voice. to the same end o