russia's energy minister mr schwartz expects to sign an agreement with the e.u. this autumn what kind of agreement could be there is russia want to have this. same preferences as no google for example or are you ready for a compromise. well i think we see this quite separately from whatever partners may have arranged among themselves or with the e.u. or with the e.u. member conference what we really want to make sure of is that whilst we of course respect the the legal framework within the european union when we work what we want to make sure of is that whatever specific measures are taken do not in any way undermine the economic viability of the project for the entire duration of the operations of the approach we want to have a clear stable and supported legal and regulatory framework so that's what we're working well many experts by the way say that from the economic point of view the modernization of ukraine's gas five licensed him would be a cheaper solution than constructing a new underwater pipeline is it true or does moscow believe that ukraine has lost it

schwartz. >> thank you, mr. chairman. i look forward to this hearing, not because it will be easy or because it's new, but because it's the reality of what our nation is facing and demands our attention. i did want to say that ranking member ben holland is at the white house. he apologizes to dr. elmendorf for not being here. user can of course that the vice president and the white house and the senate on the republican on the issue of the debt ceiling, which i know we may talk some more about and see if we can't come to some agreement about a balanced approach of spending cut and revenue increases to be able to move forward. we'll see. but i appreciate the opportunity to make a few comments about where we stand at what we hear today about how we move forward. for me to make it and if you know i've been on the budget committee for some time. the federal budget is a statement of as a nation. it's about three things. it's fiscally responsible and reducing debt, meeting obligations to our seniors and making target investment

schwartz. >> thank you, mr. chairman.ook forward to this hearing, not because will be easy or because it's new, but because it's the reality of what our nation is facing and demands our attention. i did want to say that ranking member ben holland is at the white house. he apologizes to dr. elmendorf for not being here. user can of course that the vice president and the white house and the senate on the republican on the issue of the debt ceiling, which i know we may talk some more about and see if we can't come to some agreement about a balanced approach of spending cut an revenue increases to be able to move forward. we'll see. but i appreciate the opportunity to make a few comments about where we stand at what we hear today about how we move forward. for me to make it and if you know i've been on the budget committee for some time. the federal budget is a statement of as a nation. it's about three things. it's fiscally responsible and reducing debt, meeting obligations to our seniors and making target investments to gro

schwartz. >> thank you, mr. chairman. not because it will be easy or because it's new, but because it's the reality of what our nation is facing and demands our attention. i did want to say that ranking member ben holland is at the white house. he apologizes to dr. elmendorf for not being here. user can of course that the vice president and the white house and the senate on the republican on the issue of the debt ceiling, which i know we may talk some more about and see if we can't come to some agreement about a balanced approach of spending cut and revenue increases to be able to move forward. we'll see. but i appreciate the opportunity to make a few comments about where we stand at what we hear today about how we move forward. for me to make it and if you know i've been on the budget committee for some time. the federal budget is a statement of as a nation. it's about three things. it's fiscally responsible and reducing debt, meeting obligations to our seniors and making target investments to grow our economy. we need a

mr. chairman. we don't estimate speeches. we need more specificity than was provided in the speech through the analysis. >> ms. schwartz? >> let me take a different approach on medicare. one is we are concerned about the long-term fiscal health of medicare. it's one of the reasons we passed a law last year to use basically every idea that exists for containing costs and ensuring quality and access for seniors. you've looked at some of those and acknowledge they do good to quantify all the cost savings that exist and acknowledge the cost savings and i think both you and the medicare trustees talked about at a minimum it is going to save money over the long run in the affordable care act and it does extend the fiscal health of the trust fund for a number of years, and that is i could do better than that, much of the work that's being done and the payment of a free system reform to reduce the duplication and waste as well as coordinate care and improve the efficiencies in the health care system. so it's not just about the future service reimbursement. it's changing the way we do this so the debate doesn't become house simp