to me, mulvaney is like, "that's not a name." vein the "new york post" would be like "mulvaney." to me that's not a regular name. and yet people around this great nation walk around with the name mulvaney. >> seth: they have your "new york post" headline name. >> yeah, they have a goofy name with a wrong letter. >> seth: that's no life. >> that's no life. yeah. >> seth: you've had some -- i know you are a great lover of crime documentaries. crime novels. real true crime books. >> yes. >> seth: and you've had some interactions, some brushes with danger recently. >> well, yes. i don't -- you know, i don't want crime to happen to me, but i'm a -- [ laughter ] and that's why i'm running for mayor. [ light laughter ] i don't want crime to happen to me. i like -- i love true crime and have been a little obsessed with it. i went on a date once with a wonderful young lady, who halfway through the date revealed that her dad had worked on the jonbenet case and i was just like, "whoa." and then i asked her a thousand questions about jonbene

and mick mulvaney has done a fantastic job in taking that over. we was -- we were hampered by a man that was just terrible. and now he's running for the governor of ohio, isn't that nice? running for the governor of ohio, would be a terrible governor. adam red, a councilman of the ute indian tribe of colorado. and tell us a little bit about that tribe. mr. red: well, it's the southern ute indian tribe. we're the only tribe located in entirely colorado. we are an energy-producing tribe. pres. trump: that means you're rich. mr. red: yeah. pres. trump: they're rich. mr. red: yeah. pres. trump: that's good. mr. red: got to be humble. yeah, we got money. pres. trump: that's great. but it's going well? mr. red: it's going well. yes. pres. trump: that's good. david boyer, a trucker with abf freight. david, thank you very much. i saw you before. thank you, david. benson waller of riverview coal mine. mr. waller: yes, sir. pres. trump: thank you, benson. chip kovach, vice president of engineering for his family's small business, city machine technologies.

with us now with the reaction, mick mulvaney. i am sure you are happy with 3.5.e president putting out the numbers which may have the effect of disappointing people >> the 3.5 coming on the hill of 4.2 and getting us right at three. it is very well resoceived here. it is exactly what we told people we are shooting for of the sustained 3% growth. it is nice to see the trump administration putting into place paying dividend for the american people. >> given that kind of growth, mick, why is the president demanding jay powell stop raising rates? it seems that we have a strong economy and would expect the fed to continue on its course >> sure, we have this discussion about demand driven growth verses supply driven growth. one of this i thinngs you see, n is ticking down a little bit we are seeing this sustained level of growth without what the fedmay typically expect to see with inflation that's what we told people to expect in a supply driven market which is where we think we are the president is absolutely right to raise the issue a lot of economists are talking ab

a one-year nickel plan. >> martha: the director of the office of management of budget mick mulvaney, you with us, sir. conservatives will applaud that, i think. the question is accountability, how is the president going to follow through on this. when does he expect the 5% cut to the agencies to come to fruition? >> well, he asked all of the cabinet secretaries to take 3 or 4 weeks to work with the office of management and budget to do that. it's noteworthy the public part of the meeting when the press left and we had the private part of the meeting, the last two times we talked about budgets in the cabinet meeting he turned to me and asked me to talk about the budgets. today it was all the president. the president led the discussion. i didn't say a word. the president's idea. he's leading this. and i think the cabinet secretary is going to take it very, very seriously. >> martha: here's what he said about the last budget, that you had to do. watch this. >> president trump: the last budget we had to go because. military, we had to fix our military. we made deals with the devil to get

he was picked by nick mulvaney. he is tasked to protect laws. the consumer protection bureau is supposed to be on the front lines fighting for families. the person with blankenstein's job should be fighting in preventing the very real financial discrimination that everybody in this body knows happens all too often today in ohio, oklahoma, and across this country. instead we now know because of the news reports, we know the person tasked with this job has written that most hate crimes, quote, are hoaxes. these blog posts are filled with disgusted bigoted language which i will not repeat on the floor because we have a better decorum than that and this language is so offensive. how is it the director of management and budget failed to look into the background of such a senior well-paid political appointee? placing blankenstein in charge of fair lending was a moral mistake, a managerial failure and he should be fired immediately. it's been a week now since reporters found those hateful writings. the fact that he's still on the job is a disgrace. the

stuart: mick mulvaney sat in the chair where you are. >> did he fit the chair? a long time. stuart: mine too. he said deregulation, deregulation of the last two years is the mainstay of the growth that we've seen in the economy. do you think he has gone a bit far on that? >> no, no, i think particularly in 2017. deregulation started everywhere across the board, especially energy by the by, i think that started this push and started the small business push and the blue-collar hiring. then comes the tax rate reduction which adds to it on the incentive front. so they're working very much together. again i use my example, a woman owns -- starts and owns a small business. she can survive because now the red tape costs are vastly reduced, and, she can survive because she can keep more of what she earns with the lower tax rates. that is huge. you know, we lowered the business, the small business tax rate. take a look -- take a look -- stuart: i have a hard break. you remember those days. >> i've been in this business. stuart: remember those days? >> look at confidence surging in nf

according to "the new york times," mulvaney raised the prospect that senator ted cruz of texas couldually lose his bid for re-election because he's not seen as likable enough. >> he said this in private, "there is a very real possibility that we will win a race for senate in florida and lose a race in texas for senate. i don't think it's likely, but it's a possibility. how likable is the candidate? that still counts." >> seth: so, ted cruz debased himself by cozying up to donald trump, a guy who insulted his wife and said his dad killed jfk. and in return, they call him unlikable behind his back. that is rough. you know, i feel like i should say something nice about ted cruz just to balance it out. so, let me try. he's -- let's see, he's -- [ laughter ] -- not here? [ cheers and applause ] now, democrats face an uphill battle to retake the senate, but if they're close in texas, they have a chance, which is why the gop is trying a new tactic to motivate their base -- dangling the threat of impeachment. last week, for example, trump told his supporters that if he's impeached by a democ

i asked mulvaney to do it. why not? he is the head.here should be no leadership in the white house? on fixing this? he walked away from it. what he wanted to do, what the president wanted to do was raise the age to 70. i said good luck to the oilfield worker who has been working his whole life, knowing he has to work until 70 to get social security. that was his plan. [applause] first of all, this is the first time you have brought up a possible solution because i have been raising the solution and have been recognized for nationally because i am a republican. this is an issue where the president and i have publicly disagreed. we have to deal with it and the sooner we do with it, the smaller the fix will have to be. if we wait until it is automatic , a 25% cut. i am more than happy to work across the aisle. i will put everything on the table. if you say this is a nonstarter, then you never start. we have to deal with this. oni will not put everything the table. i will not get on the table cuts to our senior citizens who worked hard and

liz: last week or actually, just a couple days ago, mick mulvaney said america's booming economy will create increased revenue. however, corporate tax receipts, the taxes that corporations are paying, are at a 75-year low because they did get a big tax cut. the president and steven mnuchin and mick mulvaney would argue that's giving us the best gdp sustained, 4% or so, in a long time. how do we square those two things together? >> all right. first of all, we don't know whether it's sustained. we only had one quarter of 4.1% growth and if you look at the other forecasts from wall street firms and the congressional budget office, they don't think it will be sustained. second of all, it won't be sustained forever because we are talking about the economy and it goes up and it goes down. so we would be comparing temporary upticks in the economy that get revenues up if it happens with permanent changes in spending and taxes that will bring revenues, bring the deficit up. from my perspective, the biggest reason we've got the deficit increasing from 779, projected -- excuse me, $779 billion i

open, gdping up, the is on the upside and jonathan ferro will be talking with mick mulvaney.. this is bloomberg. -- live at from new york, this is bloomberg. ♪ from new york city, i'm jonathan ferro and the countdown down to the open starts now. ♪ jonathan: coming up tech numbers are disappointing. officials are indicating the pain inflicted by the market will not be enough to derail a optimism coming in at a better than expected to three point 5%. the market is 30 minutes away from the opening bell, we are coming in soft, just off session lows. optimism coming in at a better than expectedther strength with the u.s. dollar. treasuries have the smallest of two basisng by points, and 310 on the three-year. >> we always knew october was going to be a difficult month for u.s. high yields pealed -- yields. down modestly in valuation.

when you look at mick mulvaney at omb with regulation, he's having to undo the regulatory matrix obamaple in democratland realize when you put regulations in that are burdensome it makes it impossible for manufacturers to compete? liz: peter navarro would you come back and talk to us when congress sits down on nafta. >> nafta is history. the trash can of history. liz: that sounds like a new college basketball bracket. but you will come back on the show. we love having you on. thank you, peter. great to see you. both president trump and secretary of state mike pompeo drop the hammer on saudi officials pulling and yanking key authorities over there. toxic politics taking a nasty toll on both side of the political aisle. social media is making it more dangerous. hi, kids! i'm carl and i'm a broker. do you offer $4.95 online equity trades? great question. see, for a full service brokerage like ours, that's tough to do. schwab does it. next question. do you offer a satisfaction guarantee? a what now? a satisfaction guarantee. like schwab does. man: (scoffing) what are you teaching these kid

>> this tax cut does not produce the supply-side push that mick mulvaney and everybody's calculating.e've got a real problem with deficits. the corporate revenues are down, but income from personal taxes is up 1%. it has had a supply-side on one side of the tax revenue. >> it doesn't matter how much you give to the congress. look at what happened under president obama. to .1 trillion revenue and now we're in a recession. and you're still going through. no matter what you give this congress. >> the higher interest rates go up the more the government has to pay for the money borrowed. >> eventually with the biggest baskets of spending for the government? it's entitlement. >> john's right to matter how much money you give them come you give them unlimited budget and they'll still exceeded. the problem is that no one, democrat, republican, libertarian is willing to get their arms around entitlements. >> that entitlement number is not calculating in the official deficit number. $700 billion does not count. social security entitlements. >> the largest for this year has been obamacare to spa

. >> mick mulvaney and their onset of the office management budget. he's a tough guy. he knows where the numbers are. >> the republican party would let him be a tough guy. he wanted to offset the corporate tax cut but the high super bracket, but the party has always been scared of the next election unlike trump who can do whatever he wants is like no, no, we are republicans. ergo with god lower revenue than they would have in a created the defense budget. that is not going to end well. david: but the growth is sending very well. >> you can't choke off the growth is affected you've got a real problem. >> the tax cuts were promised to be -- am i right? that was a big sale point. we are going to cut the taxes, but don't worry it's not going to blow up the deficit. >> making so much money because of the tax cuts, buying back shares and they are to record levels. there has been some benefits from all this spending. david: they are expanding, hiring people. that's why we have more jobs. because businesses are high here. >> go back to be a balmy airs. >> you're still in from

mick mulvaney. this is not a surprise. tech stocks have been strong, but they are declining a bit.rns about the tariffs. nobody knows if this is the start of a trend. nobody is predicting that with any confidence. it could be a blip, but it appears to be a construction at the least. >> the timing is not good for republicans in the sense that we are inside four weeks to a mid-term election and the republican party is not campaigning on this because they are in an anti-trump mode. they are hoping to get a boost it is an advantage for the republicans and the president himself said it's one of the few issues where he is above water. most he is under water. if nothing else, people watching the markets do this. >> to mary katherine's point, there is a way even with a pretty dramatic day like we had a down day on the stock market, there is a way, if the president and his people thought it through a little bit more, to kind of make the positive case in spite of that. talk about yes, we don't talk about the ups and downs on any given day. the trend is higher. don't look at that, look at the

mick mulvaney, fiscal conservative, he is director of the office of management and budget.the 9:00 hour. let us look at data across equities, bonds. yields on the screen, a lower 10 year yield. through 112. this is "bloomberg." ♪ francine: mrs. bloomberg surveillance. tom and france -- this is bloomberg surveillance. relief in the tech sector was short-lived. alphabet down after reporting a second quarter of sales below estimates. amazon also missed revenue targets. out for bed is down about 5% ahead of the u.s. market open. -- of the we will be back is down about 5% ahead of the u.s. market open. et is down about 5% ahead of the u.s. market open. >> the link is the revenue growth seems to be slowing a little. they are compensating with impressive bottom lines. amazon and google beat expectations on a net level but missed on the revenue. google's miss on the revenue was small, $100 million in the context of 127 billion in overall revenues. francine: both companies are spending more. will this translate into more market share? was something that investors are asking about on

secondly let me make this point, mick mulvaney, our omb budget director, we are all gathering now the early stages the budget process, he has shown actually the biggest part of the deficit is not the entitlement for its nondefense spending. i'm sorry, spending across the board. now, that includes things like food stamps and welfare, and the president wants workfare put into all these programs, which by the way clinton and gingrich did years ago, restore the eligibility workfare, cutbacks but there's extremely stuff in this budget. so we could make a big dent in spending and i think you'll see this come without -- just look at the bread and butter stuff that goes on every day. >> the economy is doing very well by every standard. so if it's doing so why do we need to have terrorist because were always doing so welcome why don't we just keep our we are? why do we need other terrorist because theoretically can't do much better than the art? >> will, look, president trump is a trade reformer. that is basic point. and i have known and still am as a free trader. i did not approve of the blan

president's own budget chief mick mulvaney acknowledged that very reality earlier of the day. >> the rules of the senate which require 60 votes for every single spending bill in the senate, by definition, unless one party has 60 votes which very rarely happens, every spending bill must be bipartisan. congress spends the money. that is the way the constitution is set up. reporter: therein lies one of the issues. by the way at the white house, melissa and connell, started to tout or continued to tout their deregulatory efforts, in fiscal year 18, their regulatory efforts saved $23 billion, cut for everyone new regulation, cutting 12 of them. back to you. melissa: douglas holtz-eakin, president of the american action forum and joins us to break it all down. what do you think of that number, 23 billion in estimated total savings. that has to be present value of the savings over time or whatever it is but it is a big number. what do you think? >> it is an enormous accomplishment. i don't think people appreciate what was going on under the obama administration. there was an additional $110

bill, people in administration, mick mulvaney tried to change the law people fect deny benefits they are entitled with the healthcare bill. jon stewart. jon stewart and i held a news we led the d with fight and defeated the on that.ation i am independent. whether bush administration, obama administration, who i was disappointed they gave saudi upport going to arabia and president obama signed the biggest deal with should keep we this unpartisan discussion. no, judge me on my record and gain, when i'm with the president, i voted for him over hillary clinton, i will vote for elizabeth warren, whoever it is. moderator: don't think about trump when deciding who to vote for you? want them thinking about trump? rep. king: put in perspective, ms-13, isis, and the cops, other issues, look at me, that is running. moderator: this question for you. [o odd /* rybody -- [audience noise] -- we saw in district, mr. cortez crowley huge upset, joe expected victory. looking for a different job in november. have been there moments where fair estimation is she has not been ready for prime time and her m

and secondly, let me make this point, nick mulvaney, our omv budget director rk, we're all gathering now the early stages of the budget process, he has shown actually the biggest part of the deficit is not the big entitlements. it's actually non-defense spending. i'm sorry. it's actually discretionary spending across the board. now, that includes things like food stamps and welfare, and the president wants work fare put into all these programs which, by the way, clinton and gingrich did years ago, restore that work work fare, but cut back on the budget. we could make a big dent in spending. just look at the bread and butter stuff that goes on every day. >> the economy is doing very well by every standard. if it's doing so well, why do we need to have tariffs? we're doing so well, why do we need to have tariffs and just keep where we are? theoretically we can't do much better than we are. >> well, look. president trump is a trade reformer. that's his basic point. and i am -- have been known and still am as more of a doctrinairre free trader. i did not approve of the free terms, for ex

the budget chief mulvaney also spoke with stuart earlier today and acknowledged the number-crunching reality with all of this, which includes the folks up on capitol hill at the end of the day are going to have their say as well. >> because of the rules of the senate which require 60 votes for every single spending bill in the senate, by definition, unless one party has 60 votes which very rarely happens, every spending bill must be bipartisan. congress spends the money. that's the way the constitution is set up. reporter: congress spends the money. that's the way the constitution is set up. the president and his white house will make their ask but at the end of the day, congress will have the ultimate say. liz? liz: they are already having at least -- stay here, we have breaking news. blake, i want you to react to this. reuters has an exclusive interview with senate republican leader mitch mcconnell of kentucky, who says the tariffs are having a negative impact on the economy. he is urging quick action on trade disputes, specifically he is saying that these are festering trade dispu

i tried to get mulvaney during our debate, to admit we need to raise the cap. he took impact on it. assume this administration anytime soon is going to agree to aluminate or raise the cap on social security. will only happen if good people in a bipartisan way come together to solve the problem for social security and medicare. [applause] >> what is your bill number on doing that? so i know. >> that wasn't the one -- [laughter] [cheering] i asked the administration to do it. why not? he's ahead. there should be no leadership in the white house? on fixing this? he walked away from it. what he wanted to do was raise the age to 70. i said good luck to the oil field worker who spent his life knowing he has to work to 70 to get his social security. that was his plan. [applause] >> first of all, this is the first time you brought up a possible solution. i've been raising the solution and recognized for it nationally. this is one of those issues with the president and i have publicly discreet. i think we have to deal with it, the sooner, the smaller it will have to be, 25% cop. i don't want

mick mulvaney, the budget director, said last week that inspired growth from the tax cuts will save us all. >> well -- liz: you don't believe that? >> i don't believe it. let's go back to the washing machine example. if tariffs continue to push prices up, it's going to cause the federal reserve to become more aggressive raising rates. so what the president has delivered in tax cuts could very well be taken back by the central bank. they see that as their jobs based upon the dual mandate they were given by congress. liz: well, then are you saying that president trump is correct when he beats up on jay powell, the head of the federal reserve, and says stop raising rates, you will derail a very strong economy? >> i think there are two things to say about it. if powell is going to fulfill his mandate to maintain price stability, he's going to have to raise rates. that is just a structural issue in the united states economy. the president is not wrong. rate increases are going to derail the economy. inevitably this is going to derail the economy. liz: what do you do, then? how do you invest

. >> president trump, director of office and management mick mulvaney when he was being confirmed a couple years ago and the senators come especially senator tester of montana. he was asked that the greatest challenge of the united states of america. included joint chief of staff, mike mullen who said it's not china, not russia, not islamic terrorism. it's the american national debt. if we don't balance the budget and get our debt paid down and paid off, this country faces the risk ofof bankruptcy. they are elected to be leaders on the horizon and see what's coming and do something sooner rather than later. congressman peterson has been in office for 28 years are gone up from 3 trillion to 21 trillion. i will make that one of my very highest priorities we can talk about the farm bill in any other things.f if they go bankrupt, then all the rest of that is of very little use. we have to get back to balanced budgets which we did in the 1990s. >> closing statements. 90 seconds. dave hughes come here first. >> thank you aarp temporary public television proceeds night. my name is dave hughes com

criticize -- criticized president trump youris name calling, yet campaign sent in email saying mick mulvaneyhe mosquito, calling members of the president's staff, quoting here bloodsuckers and henchmen. , how do you justify calling president trump out for his name-calling but then using language like that? sen. warren: ok, so look. we called him a mosquito, you are right. and -- but here is the deal. what we are really talking about is hatefulness against groups, against how it is that you depict the most vulnerable and really go after them. and you know i understand. , my opponent stands here, he sounds reasonable. he says this is not how he wants to behave. but just look at his own record and who he is been supporting. with the the border leader of a group that associates with white supremacists and wants to return this country to a time when "gays were in the closet" and blames jews for 9/11. he supported naming black lives as a hate group. he defended trump's recessed attacks against a latino federal judge. he stayed on as trump's campaign chairman even after the access hollywood tapes c

chuck schumer and i got that through. 9/11 healthcare bill, people in the bush administration, mick mulvaney tried to change the law so in effect deny people benefits they are entitled with the healthcare bill. i met with jon stewart. jon stewart and i held a news conference and with we led the fight and defeated the administration on that. i am independent. whether bush administration, whether obama administration, who i was disappointed they gave us no support going to saudi arabia and president obama signed the biggest deal with saudi arabia, we should keep this unpartisan discussion. no, judge me on my record and again, when i'm with the president, i voted for him over hillary clinton, i will vote for him over elizabeth warren, whoever it is. moderator: don't think about trump when deciding who to vote for you? do you want them thinking about trump? rep. king: put in perspective, think about ms-13, isis, and the cops, other issues, look at me, i'm the one that is running. moderator: this question for you. please, everybody -- [audience noise] -- we saw in another district, ms. cortez pul

criticize president trump and his name calling, yet your campaign sent out in email saying "mick mulvaney, the mosquito," calling the president's staff and "henchmen." how do you justify calling president trump out for his name-calling but then using language like that? sen. warren: we called him a mosquito, you are right. but here is the deal. what we are really talking about is hatefulness against groups, against how it is to depict the -- you pick the most vulnerable and really go after them. and i understand. my opponent stands here, he sounds reasonable, he says this is not have he wants to behave. but look at his own record and who spends supporting. he toward the border with the leader of a group that associates with white supremacists and wants to return a time when "gays were in the closet," and blames jews for 9/11. he said -- supported naming black lives matter as a hate group. defensed trumps racist attacks on a latino federal judge. he stayed on his trumps campaign chairman even after the access hollywood tapes came out. he got the endorsement of vice president pence, who spe

when mick mull mulvaney, the but director -- who i have no use for -- he tried to change the law so that effect, you'd be denying people the benefits of the 9/11 health care bill. i even met with jon stewart and i, we held a news conference also with rl -- [inaudible] so i am independent whether it was the bush administration, whether it was the obama administration. i really was disappointed they gave us no support going into saudi arabia. and by the way, president obama signed the biggest arms deal ever with saudi arabia. so we should keep this in a nonpartisan discussion. so, no, gym me on my record. >> to you fall on the political spectrum for democrats? in some ways this year is like a tea party defining moment for the democratic party where it was several years ago for the republicans. to you align yourself with her policies? where are you on the political spectrumsome. >> no, i am definitely not a socialist, and i am fighting for working families. i was never planning on running for office. you should look at mr. king's voting record, because he actually -- he votes with donald tr

earlier we spoke to mick mulvaney, director of office management and budget management. looking at the silver lining. >> i feel like we are in the goldilocks moment where we are getting good gdp growth but don't have the inflation you might traditionally have seen with this market. takes pressure off the fed to raise rates as they have indicated, so all things are pointing in the right direction. ramy: one final thing. -- chance of said rate hikes of rate hikes could be one the game changers. i want to show you the amount of fed tightening that is priced in for 2019. it is declined ever since october, september to 41 basis points. the consensus is december is priced in, and there are three for next year. with all of the negativity around us, there is a possibility or the hope investors are saying maybe the fed will take a pause next year. steve cohen nicolas had this quote. fed pause, no u.s.-china deal, it could be halloween every day for investors. if there is a pause, it could be a santa claus rally. shery: thank you for trying to bring us good news. ramy inocencio wi

joe: pretty much all quiet. ,udget director mick mulvaney in connection with that report, called it a blunt warning to congress about cutting spending, but there has been no real outline for what sort of spending cuts would come out. there is not a lot of appetite in congress to make some of the health political decisions that would have to be made in order to cut the spending back far enough to shrink that deficit. the administration's contention has been that the tax cuts that were passed at the end of last this yearook effect would prompt enough growth in the u.s. economy to make up the shortfall for revenue. so far, that is not happening, and the projection is for the deficit to grow next year. congress also passed some additional spending, so there's not a lot of political incentive for them to dial back at this point. >> thank you so much for that. joe sobczyk. still ahead, rio tinto says third quarter iron ore shipments slipped as prices climbed to the highest level since march. we will go through all the numbers. shery: up next, technology companies pulled the market down. a g

if you talk to mick mulvaney who i really like, smart guy, budget director.eil: he is really smart. >> he is one of the best guys we have in there. neil: no-nonsense. >> he is numbers guy but he will tell you if we can maintain 3 1/2% gdp regularly we'll pay down the deficit. history shows that if you -- neil: pay down the deficit a little bit, you go a long way from getting the debt under control. >> a reasonable amount of debt is not worst thing in the world. neil: what is beyond reasonable. >> when you take down the deficit you pay off the debt. that is one of the great things of the clinton years, you took down the deficit we started paying off the debt of the things become much more manageable. the problem if you have lower economic growth and deficits, things get really squirrely. neil: that is what you're hanging your hat on. optimistic view reflect as strong economy. >> so far. neil: seeing this in the stats. third quarter earnings once start getting them they will be very, very strong year-over-year. in that everything is okay. >> here is where you g

so you know, no matter what the president says here, no matter what the r & b chief wants, mulvaney,up to the folks on capitol hill. neil: i want to go to "wall street journal" associate editor john bussey on this. you know this far better than i. leaving defense out of it, looking at 5% cuts and assuming that will extend to some of these other areas, we are still talking something in the vicinity of $250 billion to $300 billion in savings and i might be generous here. that's less than half the deficit we are running this year. >> yeah. the deficit's rising. that's something that the president's trying to contend with here. why is it rising? in part because of the very large tax cuts given to companies. so the government's not getting that revenue any longer or it's getting revenue but not as much revenue from companies. deficit's rising. he's going after areas here that are not the big ticket items. defense is a big ticket item, social security's a big ticket item, medicare's a big ticket item. those are entitlement programs. you have to be asking yourself, is this the beginning of

are just not telling people that this thing is growing dramatically and if you don't -- talk to mulvaney. you don't keep getting good economic growth -- >> the other part of it is interest rates. we worry about interest rates. my point is the higher interest rates go, the more money it costs to service our debt. the more the debt grows -- neil: isn't this the year we spend more on the debt than on defense? >> not quite. that was thrown out, it's not quite true. we spend $780 billion on defense and it's nowhere near the amount of money -- neil: i think you're lying. >> want to do the math on that? >> interesting thing about that. >> the deficit is going to be a trillion. neil: you sound like you're not even worried about your future grandkids. >> i'm worried because it's spending. i'm not worried because -- a lot of the problem with the target about the deficit, the reason some people are hesitant to do so, the mainstream media is so quick to say oh, it's the tax cuts, the tax cuts. no, it's spending. trump has a lot of other republican -- >> they spend a lot of money. revenue is increasi

budget director, mick mulvaney. you will see them both at 9:00 tomorrow morning.t is when we start. now this. senator elizabeth warren takes a dna test to establish her heritage. in my opinion, embarrassment! my take on that the top of the hour here we go. . . including worsening of symptoms. serious allergic reactions can occur. ready for a chance at 100% clear skin? ask your doctor about taltz. stuart: it is almost 10:00 eastern time. it is 7:00 on the west coast. the markets have been open for 30 minutes and we have a sizable gain already. look at that, 230 points. we're close to a 1% gain, very significant gain. we're about to get breaking news on the economy. it is called the jolt report and this is the number of job openings, okay? have we got it? ashley: we do. 7.136 million, for august. those are the job openings. up from a very high in july of 6.93 million. 7.136 million job openings according to the labor department. that is absolutely extraordinary. we've seen that situation where we have not enough people to fill the job openings, which is a strange st

that was on october 15, the thoughts of mick mulvaney. joe is next from maryland.ack to the original , istion about the tax cuts think there is confusion about what was good about the tax cuts and what was bad. it was hard to argue that the corporate tax cut, which has added two jobs, the lowest unemployment we have seen in our , our u.s. history economy now is the number one rated independently. the first time we have been on the top of the list since 2008. we are seeing wages rise. i think the point to be made that we did flip taxes on the rich. we tried to fix that with the state and local taxes that can no longer be exempted. byhink that was a mistake having anything were the highest percent of their country -- the country had their taxes reduced. ,verything people care about hourly wages, middle-class wealth, the gap is shrinking. this is a report today between the highest and lowest. i wish they would not have had any reduction on the highest level for the highest earners in the u.s.. host: do you think anything can be resolved when it comes to spending? they

. >> it has, you know, mick mulvaney called me. >> okay, this gentleman here. >> freelance writer. realizing your biggest acquisition challenge. military hardware? space command? what keeps you up at night? >> like, there are multiple themes. maybe i'll just kind of loosely kind of walk you through the number one, when i think of -- so, i always think of, like, well where the big dollars flow. so it's easy to chase the department of defense a lot of shiny objects. so the top of my list is sustainment for the f-35. well, you know, you just kind of -- so it's when you think of -- that's one. so, you know, the second is this goes back, i think, for the questions about how do we transition as the systems that we've built that are more susceptible to cyber and other environmental changes. i think digital modernization is another really important area for us. because we will have to transition to a new environment. you can see how rapidly technology is evolving there. and, you know, it's weapons systems or the tools that we'll use in the future around artificial intelligence is software