david: i would think of moving out of muniz. am i wrong?class that is relatively safe. it really comes down to picking the right type of municipalities. want to look for good fiscal balance sheets. david: think of the other big cities like chicago or new york. detroit, to put it in context pose 5.7 in terry health care. they owe 88 billion. could new york be in trouble too? >> new york so much bigger, much more diversified city. all sorts of industries. it has its stability in its mayor. a strong city council. david: we may have mayer wiener coming next, that would not be stable, would it? you see the point is people look at methodologies all over. this is something that does not just affect new york, public pensions nationwide were underfunded by $1.4 trillion, so won't does eventually spill into the muni market? >> in theory it could put the idea is have leadtime to raise taxes and get a hold of it. strong cities will be fine. they can reach out for the debt or renegotiate their pension. david: what is growing now may not be growing tomor

>> peoe invest in muniz for the tax to disability. people will go elsewhere, huge mistake.e mad and looking for revenues and go for the well-heeled. gerri: $30 billion, this is something the white house just doest want to keep his hands off of. tell me, what would be the unintended consequences of this? >> you are not going to affect the rich, the rich will go somewhere else, but will affect the cities, the states, the municipalities. this is for sewers, hospitals, schools, airports, you name it, for the good of the public. yet they are willing to do something like this, states and cities are alrrady on their backs. i don't get where they are ing with this. gerri: you say the rich will go elsewhere, but often just your average rate harry that invest in muni bonds, they will get hit here. you will have this effect of robbinmoney from the localities that need it most, people at or near retirement trying to save all the money they can. it seems to be a double whammy. >> it seems to me oever has come up with this idea came out of the movie "one flew over the cuckoo's nest." it

muniz to say i do not think they're the same thing. you spend the vast majority of your career working directly for unions. you have spoken extensively with regard to public policy. we read all the news reports. .t was actually consulting how can me cannot be here and that you are not treat all people objectively? i appreciate the concern. i started at the detroit regional office. i had exemplary role models there. i was a pro-act field attorney. what i did.tly i became an advocate. i understand that this position is different. it is also important in thinking about this that we will have the benefit of the full board. i have the opportunity to work. within the last couple of years. i knew that he has on occasion advocated on behalf of the chamber of commerce. thate made the suggestion we really need to do this straight up. we need to not do this with ideological rhetoric. we really need to do it straight up. that is exactly what we did. respect.ed a lot of this is how we did the presentation. i look forward to being able to have this

we have sicilia muniz is director of the director of the administration. she was senior vice president and now where she has been working tirelessly to get legislative reform done. as a testament, cecilia munoiz received a macarthur genius award in the year of 2000. i also wanted to note that she was born and raised in detroit. her father worked as an engineer at the ford motor company. and in fact, we have joining us this morning, the congresswoman and time permitting, i think it would be interesting if she could give us a window into whether or not there is a short-term goal for the federal government to help them get out of their fiscal crisis. so please join me in welcoming cecilia munoiz. [applause] >> thank you very much for the introduction and having me here. i am a big fan on metropolitan policy and this is an incredibly important forum and i appreciate so much being a part of it. as you have heard, i have worked in the country for over 25 years and while this issue is discussed and pretty much decided upon in washington, the impacts was really pa

please join me in welcoming sill seal ya muniz. [applause] [applause] this it discussed and decided upon in washington the impact of the discussion are felt across the country and it's the town that the innovators. in dealing the implication of immigration and helping them become fully integrated to american life i know this from person experience. i'm from detroit, i'm the daughter of graipts from bolivia. and i grew up surrounded by communities populated with immigrants from around the world in search of the american dream. my tab on the block where i grew up were ukraine, finland. really from all over. it's very much part of the detroit story. just as it's part of the american story. i started career providing services to immigrants in california and chicago and building coalition that worked on issue of integration. it happens in local communities. when started at the white house before i became directer. i was the directer of intergovernmental affair. i managed the white house's relationship with governors, mayor, across the c