jonathan: i want to talk about social policy, this is the quote from pat toomey.ys tolerating the politicalization, the fed wandering into the social and cultural areas where the fed does not belong. could i have your reaction to that? glenn: it's hard to know what senator toomey is referring to. the fed has to think about the broader social construct of the economy. the same as any organization. you want to be clear that you don't have mission creep. job one is maximum employment. and financial stability. some of the social concerns are tied up in that, like climate change for example. the fed has to be careful to focus on its key jobs and do the work. kailey: 10 chairman powell continue to do his job? do you think he deserves a second term? glenn: that is of course for the president. i think he does. the vet has a good record during the pandemic period. certainly not with everything, certainly a good record. chair powell has the ability to talk credibly to people on both sides of the aisle. i think it would be a mistake not to reappoint him. kailey: let's talk a

joining us pennsylvania senator pat toomey. thanks so much for joining us. good to see you.will vote tomorrow -- >> good morning, jake. >> -- to fund the government and suspend the u.s.'s borrowing limit. are you committed to voting no even if that means risking a government shutdown and the u.s. defaulting on its debts in the midst of a tough economic time already? >> so i will certainly be voting no if the democrats insist on combining the debt ceiling increase or suspension with the continuing operations of the government, and there is no calamity that's going to happen, jake. if that were a serious risk, don't you think the equity markets from last week rather than fully recovering after the scare that came out of evergrande in china, rather than fully recovering as they did, make they would have traded of. i think that's because the millions of investors across america know no such calamity is going to occur. >> why? >> what's going to happen is after republicans vote no, chuck schumer will do what he could have done months ago, weeks ago, what he could do tomorrow amen

republican senator pat toomey who voted to impeach former president trump joins me ahead. >>> hello i'm jake tapper in washington where the state of the union is wondering if today's democrats will prove they can govern. this is the most important legislative week of biden's legacy. in a letter to house democrats saturday, house speaker nancy pelosi said "the next few days will be a time of intensity" telling her party that they must fund the government, pass the bipartisan infrastructure bill, pass a $3.5 trillion spending bill this week. tomorrow is the day house speaker nancy pelosi had promised moderates the house would vote on the bipartisan infras infrastructure bill that cleared the senate last month. house progressives say they will vote no on infrastructure if there isn't first a vote on the $3.5 trillion reconciliation package, there remains broad disagreement what should be in the final version. moderate speakers say pelosi needs to keep her promise and bring the infrastructure bill for a vote. with both sides digging in, democratic leaders must figure out how to please every

. >>> ahead on "cbs mornings," we will talk with republican senator pat toomey on why his party is against increasing the debt ceiling and what it will take to reach an agreement with the democrats. >>> a house panel has issued more subpoenas in connection to an investigation of the january 6th capitol riot. the committee wants to hear from 11 officials who were involved in planning rallies for former president trump before the attack. they'll be deposed starting at the end of next month. this is the second round of subpoenas issued in the probe. >>> and the nation's top military officer is warning about the possible resurgence of al qaeda in as soon as six months. general mark milley made the comments before a house panel yesterday. he told lawmakers about a new iy e teist group could withdrawal from ghanistan. >> a real possibility in the not-too-distant future, six, 12, 18, 24, 36 months. i think the taliban sitting in kabul significantly emboldens the radical jihadi movement globally. >> the white house says terrorist groups have been vastly diminished in the region in part because osa

reporter: pat toomey telling cnn that they would vote on a bill to fund the government if it is not linked to a debt ceiling increase. below seat says she wants to raise the debt limit and a bipartisan manner and has ruled out using the process of reconciliation. dion: just ahead. burglars made off with a big help me spell. they targeted a drug so and had their sights set on one thing. that story ahead plus, >> most of the women are thrilled. they are like wow, thanks. dion: it is stop -- something overlooked but needed foreman. this makes it one less thing they have to worry about. the goal for this years pad party in the south bay. >> we have good air quality out there this afternoon and a cooler end to the weekend today. tomorrow? we are tracking so denny's now has benny's. not just one, but many. it's the classic benedict plus two twist, so we really must insist that you try one, two or all three of our benny's. see you at denny's. does your vitamin c last twenty-four hours? only nature's bounty does. immune twenty-four hour plus has longer lasting vitamin c. plus, herbal and other imm

reporter: pat toomey telling cnn that they would vote on a bill to fund the government if it is not linked to a debt ceiling increase. oc -- pelosi says she wants to raise the debt limit and a bipartisan manner and has ruled out using the process of reconciliation. dion: just ahead. burglars made off with a big help me spell. they targeted a drug so and had their sights set on one thing. that story ahead plus, >> most of the women are thrilled. they are like wow, thanks. dion: it is stop -- something overlooked but needed foreman. -- women. this makes it one less thing they have to worry about. the goal for this years pad party in the south bay. drew: we have got sunshine out there, cooler temperatures to finish out the weekend. tomorrow, we working at recology is more than a job for jesus. it's a family tradition. jesus took over his dad's roue when he retired after 47 year. now he's showing a new generation what recology is all about. as an employee-owned company, recology provides good-paying local jobs for san franciscans. we're proud to have built the city's recycling system from the

host: republic and sender pat toomey was asked about whether he supported the continuing resolution funding the government and the debt ceiling. here's what he had to say. >> i will be voting know if the democrats insist on combining the debt ceiling increase in suspension with the continuing operations of the government there is no calamity that will happen. if that were even a serious risk, don't you think the equity markets from last week rather than fully recovering after the scare that came out of china rather than fully recovering as they did, maybe they would've traded off. that's because millions of investors no that no such calamity will occur. what can happen is after a republicans vote no, chuck schumer will do what he could done months ago and weeks ago, what he could do tomorrow and that is he will amend the budget resolution so the democrats can pass the debt ceiling by themselves and that's what should happen. here's why. they are in the midst of an absolutely unprecedented very damaging spending spree on a scale we have never seen and they want us to come along and authorize

asked specifically by senator pat toomey where recent increase in prices is now less short term, moreong term and this is a change in his out look here. >> it is fair to say that it is mainly what we've seen is that the supply side restrictions where we've not only gotten better but in some cases gotten worse. look at the car companies and the ships with their anchors down outside of los angeles. this is really a mismatch between demand and supply we need those blockages to abate before inflation can come down >> the issues related to trading by two fed presidents that recently resigned did not come up in the hearings my colleague got one of the first comments on the issue from senator before the hearing >> i think the fed chair needs to revisit this and reinstitute, bring back or make clear by fed rules that the members of the fed, governors and fed president should not ever trade while they hold these jobs and frankly go the next step that is that they shouldn't hold corporate stocks. >> getting to what we started with, insisting were efforts to weaken banking rules and regulations

and today i am joining my friend, senator pat toomey, to reintroduce the full faith and credit act. this bill ensures that the u.s. government does not default on its debt while also prioritizing certain payments to our seniors, military, and veterans. it is commonsense policy like this that will move the u.s. forward and out of the massive debt crisis we're in. i welcome all fiscally responsible colleagues to join me in saying we don't accept the status quo. we won't watch in silence as democrats try to spend us into oblivion. we can get spending under control. while i was governor of florida, we paid down one-third of state debt by living within our means, all while cutting taxes. we can do it here. we have to start acting responsibly. the time to do that is now. politicians in washington want you to think this is so complicated. they want you to think that dysfunction is inevitable. that is a lie. it's a lie that a broken system and failed politicians up here have been telling you for decades. it's time for that to end. getting america back on track is simple. it starts with pass

take a listen to what republican senator pat toomey had to say about this yesterday afternoon on jaker. >> i think republicans will offer a clean, continuing resolution that funds the government. you know, i've discovered in this place what is described as a clean bill seldom is actually a clean bill but the gist of your argument, whether republicans would support clean funding, the answer is there would be a lot of republican votes for that. >> reporter: it's clear republican leaders do not want a government shutdown. they will work on that because that will hamstring their priorities. all of this is just a reminder that congress still has to do basic functions of government let alone tackle some of these other sweeping domestic priorities. >> appreciate her laying it all out. it's a lot to digest. >> i know. >> it's time for three questions in three minutes. let's bring in someone who can help us digest it. cnn correspondent john harwood. walk us through this first. what's a safe play? what are you looking for? >> well, it appears democrats made a significant progress because of the

caroline: the top republican on the banking committee, pat toomey, has been very much a proponent ofo, for example, and pushing back against regulation by enforcement, as he called it. referencing -- i am interested --the director of the cato institute joined us. she did great work from any time but was on a gamestop hearing in february as an expert witness. she was saying there is a fine line for the sec to not stifle innovation. is that what the republicans are worrying about or is it more a capitalist tendency? guest: i think -- ben: i think it is both. a lot of what we heard from republicans were aligned with what industry lobbyists and financial trade goods in washington have been saying really for the past several months. also the crypto industry has been saying in particular, predating chair gensler, the idea essentially is that -- and you heard it from senator to me today -- if you come in with too heavy a hand, innovation, particularly in the crypto market, will leave the united states and go abroad or some of these projects will never take off and the republicans were sayin

national holiday is next week, there crackdown on crypto is what i would really align with senator pat toomeybig opportunity for the united states and a reminder of our structural advantage over china. in terms of what we have seen historically in what ed mentioned, it wasn't as large of a move as we have seen in prior times with market movements. we panic initially followed by a bad market recovery. for u.s. institutions across -- and we are seeing a much larger hit with a much lower by that -- buyback in the east. emily: who are the winners and losers? if you can get into some coins specifically, that would help us understand the situation. aya: that is a good question. what we were seeing, it was slower last two months historically. we saw seven times more volume today then we have seen across a number of weeks where we had a lot of conferences with traditional finance and cryptocurrency. layer winds are pop-up lines. you have spoken about layer ones in the past. ethereum things like avalanche and atom and luna in addition to bitcoin. then we are looking at renewed interest in tokens like

our first guest by the way, senator pat toomey and he

senators bob casey, pat toomey, congressman john joyce, state senator pat stephano and representing theble, beautiful people of somerset county, a group i work with so often, commissioners gerald walker, colleen dawson, and pamela. for everyone, we truly appreciate you being with us today. on september 11, 2001, governor tom ridge arrived here to survey the crash site. one week later, he met with family members when they first visited this field of honor. in the following days, president bush summoned him to washington to lead this country's homeland security efforts. governor ridge wishes he could be with us this morning, as the families of flight 93 mean so much to him. when i spoke to him a few short days ago, he asked me to remind everyone that the kindness, generosity, and compassion displayed by all americans after september 11 remains vital to governor ricketts, you are indeed with us in spirit, and thank you so much for your support. over these years. [applause] truly, in the past 20 years, there is no question that the commonwealth of pennsylvania has been deeply involved in ho

the other thing i think that's not getting so much attention but very interesting that pat toomey, the republican senator from pennsylvania, took a real run at the administration's efforts to seal a big international tax agreement. and he is insisting that a big portion of that agreement is going to have to go through the senate for two thirds treaty ratification. that's a big outstanding legal question that's very uncertain. but i think the opening salvo in that debate. haidi: and evergrande was in the spotlight overnight again. but we're watching for this $45 million coupon due today. how concerned, though, are we about these private placement liabilities? >> it seems like we passed the peek of the concern. evergrande had not made a public statement regarding an interest payment that was due last week. and we know a 30-day grace period before the default could be declared. and the global market seems to have accepted that. yes, the evergrande, restructure its debt but the government will step in at some point to ensure -- to avoid a disorderly collapse of the company. so it seems lik

jonathan: republican senator pat toomey from pennsylvania over the weekend.new york city, good morning. tom keene, lisa abramowicz, jonathan ferro this monday morning. your price action slightly negative, off by 0.25%. it is worse on the nasdaq. the nasdaq 100 negative i 0.75 percent. yields are breaking out again, higher by three or four basis points. off the highs of the session, still close to 1.49%. euro-dollar might get your attention, a break of $1.17, down 0.2%. we are trying to put together some kind of coalition in germany following inconclusive elections over the weekend. in the commodity market once again, we add some weight to the crude price. five weeks of gains, and we had some. we are back through $75. tom: a move to $80 on brent crude. not there yet, but up to new highs moments ago as well. right now, joining us on the political moment and what it means for economics, finance, and investment, greg valliere joins us. always astute on the moment at hand. i am dumbfounded by democrats taking a victory now like it was 1964, 1965, with lbj. how muc

guests, chair of the house progressive caucus, pramila jayapal, and congressman josh gottheimer, pat toomey of new jersey who will talk about the policing reform end of negotiations, how that bill died. that's at 9:00 and noon eastern only on kcnn. until then, follow me on facebook, instagram, on twitter, on the tiktok @jaketapper. tweet the show@the lead. you can listen to the leadever you get your podcasts. we have a lead podcast now. our coverage continues with one mr. wolf blitzer right next door in the situation room. i will see you sunday morning. have a great weekend. >>> happening now, the donald trump big lie about the election, an arizona audit baselessly demanded by republicans backfires, reair firming president biden's win, and trump loyalists are hit with subpoenas by the january 6 select committee. i'll talk with bob woodward and robert costa who detailed trump's attack on democracy in their book. >>> also tonight, millions of americans officially have the green light to get covid-19 boosters, but the cdc director's decision is giving confusion. why did she okay shot frs front

. >> i want to play for you what senator pat toomey, pennsylvania republican, said about the debt limit it is not about past spending. it is about future spending. consider for instance this 3.5, which is really $5.5, trillion spending bill. last time i checked, that hasn't passed yet. >> according to the u.s. treasury, senator, the debt limit does not authorize new spending commitments. even if the democrats are unable to pass infrastructure, unable to pass social infrastructure, if both those bills die, correct me if i'm wrong here, you would still have to raise the debt limit. >> you would not have to raise it as soon and you would not have to raise it as much. >> so our friend tony there over at cbs, he wasn't wrong. what toomey is saying is not right. >> no, it's not right. it's not. yes, the government is on auto pilot in some respects, there's lots of spending. but treasury is not taking into account what congress might pass in the near term or the long term. so he's not exactly right. a few notes of caution here, though. i mean, the government shutting down, it's not going to sh

candidate for the united states senate, running for the seat now occupied by republican senator pat toomeyfor joining us tonight, congressman lamb. i want to get your reaction to what the pennsylvania republicans are requesting in these subpoenas. >> i think you used the key word in your opening, lawrence. it's nice what the newspaper did, but this isn't just not an audit. this is an attack on our system and our democracy itself. in this particular instance, yeah, i think people are really going to feel it once they realize that these republicans in harrisburg want all their personal information, and it's just one of many ways in which they hope to scare people out of voting. and if they can't scare them out, they'll try to keep them out by getting rid of drop boxes and convenient voting hours and vote by mail. and if they can't do that, they'll get out the county election worker or the state election worker who is actually counting the ballots in some of these states. if they can't do that, they'll physically attack the capitol like so many of their followers did on january 6th. this part

joe manchin coming from a pretty conservative and pat toomey coming from a conservative state got togetheriderable political risk to them and wrote a compromise that would save lives. >> truly the events at newtown changed us all. nobody could sit by and not try to prevent a day like that to happen again. >> i don't consider background checks to be gun control. it's common sense. >> the nra during that period had an ironclad grip on our political system when it came to the question of guns and gun violence in america. it takes the courage and resilience of somebody like gabby giffords to take them on. i started in her office january 3rd of 2011. five days later she was shot in the head from three feet away. >> congresswoman giffords is shot. >> made a miraculous recovery and went on to fight for her life and to contribute to public service once again. >> i've known days of pain and uncertain recovery. but confronted by this paralysis i put one foot in front of the other. in the aftermath of sandy hook shooting and the two-year anniversary of gabby being shot we threw ourselves into working

that is what senator pat toomey would like to say.n charge on congress they would have him up on capitol hill with pressure from the lobbying industry. we're clearly at a crossroads in regulatory crossroads here. gensler is hell-bent, even those his powers over crypto are very constrained. he has to prove this is a security. how do you prove something is security like a bond or a stock, regulated by sec? it has to pass certain tests, something known as the hawley test. bitcoin was not declared a security. ethereum, ether crypto goes to ethereum wasn't considered a security. xrp is. people can't understand why it is. so this thing is all over the place. and i can tell you there's, there is a battle brewing both inside of the sec between purse and gensler i believe, at least rhetorically. i'm sure they are not punching each other in the face but they will idealogically clash. industry, academics where this whole thing is going. listen, was the internet perfect in 1995? i mean i mean, i don't know, maybe gensler was at goldman at the tim

pat toomey he's retiring. richard burr it's retiring. why aren't these people who no longer have to fear the cabal of people who want to believe donald trump's lies, those that no longer have to fear them, can't they muster up some courage like liz cheney has had? what kind of wimps are these guys that they are letting this man destroy the norms of our democracy? >> i mean, other than not having hands as big as lizs, why don't they say -- you know these people, claire, where is roy blunt, where are all of those people that you used to know >> i will tell you where they are. they are where they have been since the beginning of the trump presidency, when they realized that was a man who could say and do things in his life and not pay for it think about what his history was when he was elected and he still got elected. i mean he was grabbing women's whatevers. in his voice, a tape of him saying that. and he got elected president so they are hiding because they are afraid of the trump base they are afraid its too big. they are afraid its too

editors bob casey, pat toomey, congressman john joyce, state senator pat stephano and representing thework with so often, commissioners gerald walker, colleen dawson, and pamela. for everyone, we truly appreciate you being with us today. on september 11, 2001, governor tom ridge arrived here to survey the crash site. one week later, he met with family members when they first visited this field of honor. in the following days, president bush summoned him to washington to lead this country's homeland security apparatus -- efforts. governor ridge wishes he could be with us this morning, as the families of flight 93 mean so much to him. when i spoke to him a few short days ago, he asked me to remind everyone that the kindness, generosity, and compassion displayed by all americans after september 11 remains bite -- remains vital to our nation's security. governor ridge is with us in spirit. thank you for your support over these many years. [applause] truly, in the past 20 years, there's no question that the commonwealth of pennsylvania has been deeply involved in honoring the heroes of flig

and today i am joining my friend, senator pat toomey, to reintroduce the full faith and credit act.his bill ensures that the u.s. government does not default on its debt while also prioritizing certain payments to our seniors, military, and veterans. it is commonsense policy like this that will move the u.s. forward and out of the massive debt crisis we're in. i welcome all fiscally responsible colleagues to join me in saying we don't accept the status quo. we won't watch in silence as democrats try to spend us into oblivion. we can get spending under control. while i was governor of florida, we paid down one-third of state debt by living within our means, all while cutting taxes. we can do it here. we have to start acting responsibly. the time to do that is now. politicians in washington want you to think this is so complicated. they want you to think that dysfunction is inevitable. that is a lie. it's a lie that a broken system and failed politicians up here have been telling you for decades. it's time for that to end. getting america back on track is simple. it starts with passin

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senators bob casey, pat toomey, congressmanjothoyce, toomey, congressman john joyce, state senator patseptember the 11th remain vital to our nation's resilience and security. governor ridge, you are with us in spirit and thank you so much for your support over these many years. applause for truly, in the past 20 years there is no question that the commonwealth of pennsylvania has been deeply involved in honouring the heroes of flight 93. that involvement has been vital, truly vital, to the creation of this memorial. joining us now caught pennsylvania native and a7th governor of this great state of pennsylvania, everyone, please help me welcome governor tom wolfe. applause thank you, stephen and everyone, for being here and thank you for honouring me and allowing me to be here today. pennsylvania is indeed proud to have been involved with these memorial services and with everything to honour the people who give so much to all of us on that day. every time i visit this memorial i am struck by the solemnity of the place. even more, i am struck by the compassion and the hearts of the peopl

democrats and republicans can't find common ground we will ask pennsylvania senator pat toomey and chinarand. [ music playing the final hour of "squawk box" begins right now [ music playing >>> good morning, welcome back to "squawk box" here on cnbc s u.s. equity futures are trading a little bit higher, more than 200 points on the dow. we saw a good snap back yesterday following the comments from j. powell and i think we've made back everything after that initial break that we saw and we're winging our hands. >> we're down about 1% for the week. >> that's before the futures this morning so 1% as of yesterday's close. you are looking another a gain of another 200 points potentially. >> the nasdaq was up yesterday and the day before unlike the dow. it's up 72 today you see a little stability in bitcoin. it looked like it was down 42 at one point. we might talk to clayton about that >> so many people are complaining it's not updated >> i saw that, exactly, on people keep us honest. we hear quickly when there is a mistake or something check out treasury yields. a slight move higher in yields

host: republic and sender pat toomey was asked about whether he supported the continuing resolution fundinghe government and the debt ceiling. here's what he had to say. >> i will be voting know if the democrats insist on combining the debt ceiling increase in suspension with the continuing operations of the government there is no calamity that will happen. if that were even a serious risk, don't you think the equity markets from last week rather than fully recovering after the scare that came out of china rather than fully recovering as they did, maybe they would've traded off. that's because millions of investors no that no such calamity will occur. what can happen is after a republicans vote no, chuck schumer will do what he could done months ago and weeks ago, what he could do tomorrow and that is he will amend the budget resolution so the democrats can pass the debt ceiling by themselves and that's what should happen. here's why. they are in the midst of an absolutely unprecedented very damaging spending spree on a scale we have never seen and they want us to come along and authorize t