. >>> outraged at goldman sachs, the american finance company bought $3 br illion of the country's bond and gives needed funds to a government starving its people. the country's opposition leaders are asking congress to investigate the purchase. you can see there, there has been plenty of unrest in that country in recent months. >> here at home, amazon founder, jeff besos close to becoming the world's richest man. amazon stock opens this morning, at nearly $1,000 a share. and is worth $85 billion. >> is that all? >> yeah. >> he is -- dominating bill gates. well, just about $3 billion shy of bill gates net worth. >> i am personally assisting him in the $85. >> my god with the amount of stuff i order. >> such a great idea. getting drunk and getting on amazon. >> it's like, christmas. >> yeah, yeah. >> get all the things. no idea where they came from. >> may 31st. >> turning to see world san diego. >> shut down the shamu show. warn the killer whales are facing inhumane conditions there. our correspondent is there with the details. >> sea world's iconic killer whale show got a little less s

at the national park sites throughout, the daughter of the american revolution, the sons of the american revolution, the museum of american financecolumbia university, that used to be called kings college before the , thehamilton college society of main flower descendents, washington's headquarters, and other historical societies and venues. he has contributed to articles in "the new york times," aps big story, cnbc, smithsonian i'mzine, "l.a. times," and quite certain i don't know what any of those are. our speaker applied his 22 years of analytical skills with ibm in unique ways to the field of history. in the essence of alexander hamilton's greatness have given audiences of fresh look at who really deserves the utmost credit for contributing to my successes, as well as the vendo vision and foundation that serve our nation so well for nine on 225 years. today speaker is currently in his sixth year serving as president of the alexander hamilton awareness society. aha! nonprofit1(c)(3) educational association. would you please join me in welcoming a gentleman that has d se from florida, mr. ran cholet? [applause] mr. scholet: sin

and then after the financial crisis of 2008 when even the bluest chip names in american real estate couldn't get financing, donald trump was the least blue chip, the least bankable name in american real estate. he continued to get financing from some one, somewhere, some how. >> right. joy, i don't know how light blue that has to be, if that's a periwinkle or how unblue the blue chip spectrum goes, but david's financial history is dead-on there was a period of time where donald trump's funds were foreign. and that doesn't mean it's automatically a bad thing in business. but it's certainly a relevant thing to u.s. foreign policy, joy. your take on what david is outlining. >> well, no, and malcolm would know this better than i. but if you think about that period during late 1980s when donald trump was in financial straits and to david frum's point, was seeking financing from somewhere and was getting it from russia, it was also a period of time when donald trump was expressing an interest in national politics. when he was making overtures to the reagan administration saying he could be a better interlocutor

we can start that change in the campaigns are financed and build on the foundations of american cities and dates that have established publicly funded elections. get the money out. [laughter] -- [applause] regulatory process must be reformed. so giant companies cannot very public servants in an avalanche of nonsense and stand in the way of progress every time the government tries to act in the public interest. it is time to slow down the revolving door between corporations and the companies that pay employees barely described bride to take cash bribes to take public jobs. to deal with the terrible citizens united mistake. [applause] let me add to that one. while we are working on the supreme court, we must also begin a movement across this pass a constitutional amendment that will allow us to shut off the spec it cash that is drowning our government. need that kind of change. [applause] sen. warren: but i get it, there is more we can do. but that is a good start, in taking down the government for sale sign that hangs over washington d c -- washington, d.c.. reducing the influence of co

the global economic columnist for the financial times, the makers and takers, the rise of finance and the fall of american business. how do they treat you at the financial times? >> love it. totally my people. who's happy for mr. trump in the first 100 days? >> the rich. what's really interesting, this is a man who campaigned on a populous platform really, saying i'm going to make life better for at least white working people. he had a message that was about economic nationalism, most of the policies we've seen are the same old republican trickle down policies, i would point to the tax plan which says, hey, we're going to cut taxes on corporations. on the wealthy, and that's going to create growth when we have no evidence over the last 20 years that that's actually happened. >> do you think that tax plan is going to -- >> he needs to get health care through in order to push the tax plan through, he's got republicans saying, okay, we like tax cuts but this is going to balloon the deficit. a lot of republicans have signed on and said, we can't do anything that's going to make the deficit bigger he wants to

americans have auto loans. according to data released this week by the new york federal reserve, 107 million americans are financing their cars with loans. that's more than 40% of the adult population. and it's up from 80 million back in 2012. car sales in 2016 hit an all-time high. and today, the number of auto loans outpaces home loans. >>> which means demand for gasoline. but it's been weaker than expected this year. that is expected to change. the energy industry is expecting record demand this summer as the economy grows and gasoline prices remain relatively cheap. the u.s. gasoline market accounts for roughly 10% of the global oil consumption. >>> earlier this week, we told you about the art auctions happening in new york. we also told you that the sales were seen as a test of the market. tonight we tell you sales exceeded expectations and the mart market is alive and well. >> reporter: a painting by basquiat sold for nearly double the estimate, making translate most expensive painting sold by an american artist and the sixth most expensive sold at auction. the buyer was a 41-year-old japanese e-commerce bill

the saudis are pledging $20 billion to finance american infrastructure. that's part of a fund run by private investment firm blackstone, and it was about a year in the making. it plans to raise $100 billion for infrastructure projects. you can see tligt on your screen the group's ceo steve schwartzman. he runs blackstone and advises president trump. during the campaign, the president vowed to modernize aging u.s. airports, bridges and roadways, and the white house has promised a $1 trillion plan. the administration hasn't released details but is pushing for a mix of private and public funding for this infrastructure build-out. the problem, those partnerships don't always succeed in rural areas. they have less of a chance of being profitable there, so it will be interesting to see how they address that wrinkle. the blackstone agreement is one of many over the weekend between the u.s. and saudi firms. general electric, boeing and lockheed martin also signed big deals. some of those deals, by the way, took years to come to fruition, so they are being announce

the time. a long-term farm policy, regulatory relief, being a is tows financing, trade opportunities that work for the american farmer and ranch rancher. those recent fao irrelevance in northeast colorado as well as fires in past years and a access across the west are another reminder of the need to address wildfire barring. it is a process where the department of agriculture, the forest service spends money that it has budgeted for the fires, it runs out of the money because it didn't budget enough to fight the fires, then it turns around and starts cannibalizing another areas of spend, areas of spending that could have been used to reduce the next forest fire. we have to stop the practice of fire borrowing. and we have to work with secretary perdue in his role as federal of the united states forest service within the department of agriculture to improve forest and land management to prevent these uncontrollable fires that we've seen. supporting those impacted by fires, whether it is in the forest or on the prairie, is something that we should all be able to get behind. in logan and fingerprint lips counties,

we can start that change with the way that political campaigns are financed, and we can build on the foundation of many american cities and states that have established publicly funded elections. get the money out. yeah. but we need to do more. that's not enough by itself. regulatory process must be reformed so that giant companies cannot bury public servants in an avalanche of nonsense and stand in the way of progress every time the government tries to act in the public interest. it is time to slow down the revolving door between corporations and the companies that pay employees barely described bribes to take public jobs. and we need to fight for a supreme court that will reverse its terrible citizens united mistake. [ applause ] and let me add to that one. and while we're working on the supreme court, we must also build the movement across this country to pass a constitutional amendment that will allow us to shut off the spigot of cash that is drowning our government. we need that kind of change. look, i get it, there's more we could do, but i'll tell you what, that's a good start in taking down the governme

cuts the census bureau tells us the average american salary of $50,000 a year i know from previous testimony from our conversation last week with members of the finance committee you were careful about what you could guarantee with the final outcome so in light of that can you do guarantee that millionaires will that have the tax code greater than $52,000 per year?. >> i have said our intent is to have tax cuts them don't want to guarantee anything because it goes through multiple different areas. >> what is the proposal of the administration? with the tax reform proposal that millionaires don't receive a greater tax cut as it comes out with its own proposal and then to be signed by the president and i said before we will, with all the details to have all of a distribution. >> and will take that as a no. >> i am not personally guaranteeing anything for the moment. >> our proposal will be the middle income tax cut and that is the priority. >> we have almost 2 million people with $23,000 per year so as to ask a similar question for someone making $1 million per year or more they would get a tax cut of 23,000 base and we have heard so far so what is you

the average american salary is just about $502,000 per year. bolton previous testimony and also conversation last week with members of the finance committee. you are careful about what you could guarantee in the final outcome versus what you would be proposing or the ministration. so in light of that. with the average american salary of 502000 can you guarantee in terms of the administration's proposal that millionaires and up will not receive a tax cut greater than that. >> again, we are going through a process across the house in the and the senate and the administration taking in a lot of input. our intent is to have a middle income tax cut i want to be careful and not guarantee anything like that. they go through multiple different areas. all i'm asking for is what will be the proposal of the administration. i realized that they could change things down the road. in the tax reform proposal. when it's finalized in presented. will it be the case that millionaires and up won't receive that. our intent, opposed to the ministration coming in. they are working with the house and senate. we will come up with a combined proposal. when you come

the department including housing finance reform to encourage a healthier economy. we look forward to working with you and your staff to improve the lives of americans housing finance reform is most significant piece of unfinished business following the crisis and it is important to build bipartisan support we received a hearing last week that it we were advised congress needs to iraq to determine the future of housing of finance reform by the conservatorship is unsustainable mainly gse having zero capital taxpayers on the hook for losses in the government taking all risks. the number of groups that receive proposals for reform in recent months including the milken institute and those writing code for the institute and many others. six republicans and two democrats voted against the housing reform bill a key priority to build on that bipartisan legacy with the new ideas to pass legislation to create sustainable housing finance system for future generations of afford to working with you you secretary mnuchin and staff at the jersey department as we develop this bipartisan legislation to fix the broken housing finance system i'm encouraged by the executive order for r

look forward to working with you and your staff on these priorities and improving the lives of americans. housing finance reform remains the most significant piece of unfinished business following the crisis and it is important to build bipartisan support far ath forward. last week, we received testimony from director nell watt. the hearing reinforced why conservatorship is unsustainable, namely g.s.e.'s having zero capital, tax pay ornse the hook for losses an the government taking all risks. a number of groups released proposal in recent months, including the milkin institute, several writing jointly for the urban institute and many others. three years ago, seven republicans and six democrats on this committee voted in support of a comprehensive housing finance reform bill. a key goal this congress is to build on this bipartisan legacy and create a sustainable housing structure for future generations. i look forward to working with you, secretary mnuchin, and your staff, as the committee develops the bipartisan legislation that will fix the broken finance system. i'm encouraged by president trump's exe

the equivalent of two barrels spilled at a pump station in south dakota. it was delayed by months of protests by native american and environmental activists before being given the green light. finance ministers of the g-7 group have kick off in italy. they have agreed not to focus on trade. protectionism sparked issues in the last summit. the ability of the italian banking sector could be on the agenda. there are fierce that toxic loans and weak balance sheets could spill over to the rest of the e.u. our correspondent has been meeting with italians who lost their life savings. >> perched high in the village. is this today a symbol of the excesses of the italian banking sector. here, one in three people have lost their savings. just disappeared in thin area. the cause, the only bank in the village. this is where he goted all his savings. >> one day the manager of the bank said your money isn't make any returns here. bank wants to do something for you. >> and he encouraged mario to buy the bank's shares. >> i said to him but sir i don't want to do anything risky. is the money safe? he said absolutely safe. >> and yet a few months later, mario and several other retirees from the villa

the china task force, chinese aluminium output has doubled since 2010, and that has dramatically pushed down global prices, forcing out many european and american producers. they have taken very cheap finance companies. they have forgiven debts. when these companies get into trouble, you may have heard the term zombie companies. they have propped up zombie companies. they have propped up these companies and allowed them to keep reducing. it is unecomonic. we are not looking to protect anything. we are seeking a fair market under wto rules. in a statement to the bbc, the chinese government said this. and as for the wto, it says there is little it can do to bring about rapid change. it is the members who monitor the situation themselves. they talk to each other, they expressed their concerns to each other, and the even propose ways of handling the situation for themselves. the wto isjust handling the situation for themselves. the wto is just there forfor them to themselves. the wto is just there for for them to have conversations. we tried to make it your try to facilitate those conversations. taking a case to the world trade organisation is time—consuming, just ask boeing or airbus. it coul

the treasury department, including housing finance reform and development of policies to encourage a healthier economy. we look forward to working with you and your staff on these priorities and improving the lives of americans. housing finance reform means the most significant piece of business following the crisis. it's important to build bipartisan support for a path forward. last week we received testimony from the federal housing finance agency director mel watt. at that hearing he emphasized it is congress congress that needs to act to determine the future future of housing finance reform. the hearing reinforced why it's unsustainable. namely gse's have zero capital, taxpayers on the hook for loss and the government taking all risks. a number of groups have released proposals for reform in recent months, including the mba, the ica, the milken institute, several co-authors writing jointly for the urban institute and many others. three years ago, seven republicans and six democrats on this committee voted in support of a comprehensive finance reform bill. a key priority this congress is to build on that bipartisan legacy, and these new ideas and pass legislation that will create a sustainable housing fin

the american society gives a d grade on our infrastructure. the realities that these years of underinvestment really call us to an emergency action to think how we are actually preparing, financing, procuring and maintaining those infrastructure public assets. and as a result of this deficiency, the current administration released their emergency act -- emergency and national security projects which is around $137 billion. it covers electricity, transport, water systems, oil and gas ports, a mix of everything. it is really a distribution in different states and under different investment all over the u.s. and there's a heat the debate right now of whether the public sector should leverage private capital to finance this need. and the honest answer is -- yes. there's $137 billion just to finance all that need. it is not even enough to do a down payment. we have heard it has been quantified, the infrastructure gap, around $5 trillion. so $2 trillion are missing. $120 billion doesn't even give us a down payment for that. so instead of talking about whether we need it or not, we need to pause and we need to think of the how. how would they actually leverage private capital. that is

power, and they need a conference of the strategy to use all in first instruments of american power to rollback the iranian aggression. >> julie: the office of financecid control designates who contributed to the sale of explosives to syria. talk about iran and that relationship there. after president trump delivered u.s. air strikes obviously delivering a very strong bold message to the assad were jame, what does he do to send a similar message to iran? and china by the way considering that china-based network was also designated by them for supporting iran's military by supplying millions of dollars worth of missile applicable items. >> that's exactly right. in iranian defense official who was designated for supplying not just explosives but also was supporting their very research center in syria responsible for chemical weapons attacks on serious people. so what the trump administration needs to do is continue to do what they are doing which is a much more muscular policy where they recognize the assad regime is a close iran ally, it's not an ally in the war against isis, they need to rollback the aggression in lebanon and yemen and need and all

the american dream to own a home. >> not for political reasons rather than economic ones? >> not necessarily political. housing finances an important part of creating economic growth. >> we talked about the elements of regulations and getting rid of them. which ones do you want to target? you talk about dodd-frank being too narrow. how would you describe the larger and with finance -- larger aim with finance? >> with financial services, we are looking at everything. not just dodd-frank. we look at every single thing that impacts it. we have had hundreds of people come in. we reached out to big banks, small banks, finance companies. all different areas of the economy that impact credit. we are determined to make sure that we have proper regulations. we don't have overlapping regulation and priority. thanks and insurance companies no what they can do. >> what would you think of a more sweeping law that dealt with all of this? adapting dodd-frank or starting again. >> when we come up with the first report in june, there will be certain recommendations we are making that can be done at the regulatory agency. there are cert

the german american association 2 million members. the population was only 100 million in the whole country. might finance, you not be surprised to learn was financed by the brewers. they argued that the u.s. shouldn't send arms to anybody. there should be an embargo on sending arms to anybody when american industry was beginning to gear up in late 1914-1915. businessd do good selling arms to the german and french, but not to the germans. mines allh navy put over the north cease of their was no way to get to germany. so there was no way to get to germany. when the lusitania was destroyed 120 something americans who died , in may, 1915. that pretty much put it into the effectiveness of the german-american organization. by that americans didn't point necessarily want to get the war, but they knew they were not going to think about germany in the same way again. irish-americans more complicated. irish-americans were the leaders of the church, the catholic church of the time. almost everywhere in the country. irish-american republicans, those that wanted independence for ireland, were very much opposed to the

the census bureau tells us average american salaries of $52,000 a year. i know in both previous testimony ended the conversation last week with members of thee finance committee you were careful about what you could guarantee in the final outcome so in light of that salary was 52,000, can you guarantee in terms of the administration's proposals whether it will not receive a tax cut greater than that of $52,000 a year. we are going through a process across the house and senate and administratiothe senateand admin lots of input. this goes through multipleoes to different areas.on? >> i'm just asking in the tax reform proposal when it is finalized and presented will that be the case. it can pass the house and the senate and be signed by the president and i said before when we come out with all the details we will obviously have all theto distribution and people will be able to make whatever comments and changes as it goes through the legislative process. to guarantee what was proposed it has been and will be a middle income tax cut and that is our priority. we have almost 2 million people who earn less than $23,000 a year. someone making a million dollars a year

the office of the speaker, douglas holtz-eakin, president of the american action forum, and mark prater chief tax counsel at the senate finance committee. [ applause ] >> good morning. we're all very fortunate to be here on the tax reform panel. president trump, majority leader mcconnell, and speaker ryan have all declared that tax reform is the number one economic priority for this year. if there were three people that i would pick to be in a room and write a new tax plan for me, it would be mark, doug, and george right here. we're privileged to have them. george is the senior tax counsel to speaker ryan. doug is the president of the american action forum and former director of the congressional budget office. ever since the time of alexander hamilton, economic policy making has been about improving the conditions for better economic growth. we're sitting in dc today because of a deal that alexander hamilton cut where he traded away the capital of the nation in order to assume state debt and give the nation a better credit rating. and so i believe that hamilton teaches us a lot of things. one of them is that the impossible i

. >> according to the survey, americans are spending their time working into the weekend. they are stressing out about personal finances, trying to catch up on household chores and if you have kids, you're spending your time going to extracurricular activities, practices and sporting events. >> no such thing as free time. american the say the only way they could they can relax on the weekend is by leaving home and going somewhere else because i found even if you are at home with nothing to do, you do laundry and dishes and start projects it's not relaxing. >> i had a great weekend. busy saturday and sunday came to work i'm not a big monday fan. spank you coach. >> we have small children. >> and 10 years it will be. >> next mornings on 2 at nine brooklyn nine 9 stars issue of racial profiling. speaking to the episode airing this week. >>> teenagers jumping into giant fish tanks as sporting goods stores. a prank popular on youtube. in colorado, one did not go so well. >>> and we believe the cost of a good night's sleep shouldn't keep you up at night. save up to 20% at the ikea bedroom event. start by taking care of famil

the environmental and energy study institute hosted a panel discussion recently on infrastructure investment. speakers outlined ways to make infrastructure more resilient and provided recommendations for financing infrastructure projects. also, the american society for civil engineers executive director, thomas smith, discussed the findings of his group's 2017 infrastructure report card. this is about an hour and 20 minutes. >>> good afternoon, everyone. my name is carol western rner. i'm executive director of the environmental and energy stunnedstunned steweddy insuran study

the period of neutrality is americans get financially involved in the war. jpmorgan becomes a purchasing agent for the british government in 1917 in the united states, the united states is underwriting both the finances and materials a lot of the allied war effort. do not underestimate the amount of humanitarian aid that flows to europe from americans. jewish americans are very concerned about what is going on with the eastern front, especially with the pograms being committed by the russian army. the immigrants channel that aid through humanitarian efforts rather than pushing woodrow wilson to enter the war. that period of neutrality gives americans of the freedom to express and the for both sides and you see that lost the minute america declares war against germany. >> was that policy of neutrality equally felt by the participants in the war? the united states said it was neutral but obviously from the german point of view that neutrality seems to be favorable towards the british and french and aimed against them? >> i wanted to take a minute to back up. the context of why we entered into the war, when of the things i have to say about this is europe's wars were simply not in the dna of america. ge

the united states' willingness to assist colombia's strategy, to target and eliminate drug trafficking networks, illicit financings, cocoa cultivation and cocaine production, of which there is far too much. the drug epidemic is poisoning too many american lives and we're going to stop it, many different ways. one of them will be the wall. my administration is committed to keeping drugs and gangs from pouring into our country. d ready, border crossings areise a aby f oy.eyenwi oufu, venezuela is in the best interest of the entire hemisphere, and america stands with all of the people in our great hemisphere yearning to be free. we will be working with colombia and other countries on the venezuela problem. it is a very, very horrible problem and from a humanitarian standpoint, it is like nothing we've seen in quite a long time. the united states and colombia are also strong economic partners and we will continue to pursue trade policies that benefit both of our peoples. the nation's common goals of protecting our citizens, expanding opportunity, and confronting the drug crisis will improve the lives of our people and many throughout the region. so many people are being so horribly affected by what's going on in terms of violence and in te

the average american salary is just about $52,000 a year. and i know that in both in previous testimony but also in our conversation last week with members of the finance committee, you were careful about what you could guarantee in the final outcome versus what you'd be proposing or the administration would be proposing, so in light of that average american salary of $52,000, can you guarantee, in terms of your -- the administration's proposals, that millionaires and up will not receive a tax cut greater than that average american salary of $52,000 a year. >> again, we are going through a process across the house, the senate, the administration, taking in lots of input. i have said that our intent is to have a middle income tax cut. i want to be careful and not guaranteeing anything since i am not the ultimate -- this is a -- >> but all i -- >> this is a process that goes through multiple different areas. >> mr. secretary, all i'm asking for is what is the -- what will be the proposal of the administration. i realize the house and senate could change things down the road. i'm just asking, in your tax reform proposal, when it is finalized and presented

the efforts to make this morning possible. colleagues, i looked forward to today for many years. that is because the finance committee is now beginning to tackle the premier challenge of american health policy, specifically, by updating the guarantee of medicare to better serve seniors with chronic illness. when i was codirector of the oregon gray panthers, medicare had just 2 parts a and b. if you broke your ankle and had surgery in the hospital, you were covered by part a. if you got a really bad case of the flu and you went to the doctor, you were treated by the doctor in their office, and that was part b. that is not medicare today. today, medicare is cancer, it is diabetes, it is heart disease, it is strokes, and it is other chronic conditions. seniors who have 2 or more of these chronic conditions now account for more than 90% of all medicare spending. and today, older people get their care in a variety of different ways. there is still fee-for-service, and there is also medicare advantage, accountable care organizations, and a host of innovations being tested across the country. because medicare is a guarantee, a promise of defined benefits, it is past time to update th

economy standards in 2025 would have the result of pricing about 7 cost to meet the fuel economy million americans out of financing for a new car. that means these people would be priced out of the market for a new car. i suppose you could say, well , they could always buy a used car. that's like saying, let them eat cake. what is it that only the rich should have the opportunity to purchase a new car? i think darren is going to cover that's like saying, let them eat this. here is just a slide i think is very funny. the future is here. this is a photo from the 1930's , which showed in certain places in the midwest there were already dedicated pumps to put ethanol in gasoline. but the point is rather obvious. i'm sure you will cover it. tell me if you are not going to cover it, darren. it is simply that the ethanol mandate, the renewable fuel standard, is a central planning scheme. look, lenin and stalin at least had the intellectual humility to stop at five-year plans. this was a 17 year plan. as a result, 40% of the u.s. corn crop is in effect free allocated -- pre-allocated to be burned in gasoline tanks. this a

the plan. that's a $2 trillion assumption about the finances of our country and the potential burden on the next generation of americans, some of whom are sitting here with us today. but even if you accept that math, which i don't -- even if you accept that math, we have another problem, which is that the administration's budget also proposes massive tax cuts that he claims will not add to our debt because of the same $2 trillion in new tax revenue, as has been pointed out, that is double counting, plain and simple. the kind that would cause any freshman in college in america to fail his or her accounting exam. this would be like depositing the same paycheck at two different banks and claiming that your salary had doubled and then increasing spending on groceries and travel, housing, and everything else as if it were actually true that your income had doubled. you'd go broke, and that's what's going to happen around here. it's no wonder that a republican congressman said this budget was like building a house on what he called a sandy foundation. the administration's only hope of getting this through, i think -- includi

request for $44.1 billion in net discretionary funding for the department of homeland security also requests $7.4 billion to finance the cost of americans -- of emergencies an major disasters in fema's disaster relief fund. when you're talking about numbers like that, it's easy to lose sight of what's behind each and every dollar. when you get right down to it, behind each and every dollar are hardworking men and women who have dedicated their careers to protecting the american people. they're taking dangerous criminal off our street, they're keeping terrorists out of our country, and drugs off our streets. they're investing -- investigating crimes with international implications. they are making sure passengers get to their destination safely. they're responding to devastated communities in the wake of natural disasters. they're patrolling and maintaining our nation's waterways, waterways that support $4.5 trillion in economic activity every year. every dollar invested in the men and women of d.h.s. and every dollar invested in the tools, infrastructure, equipment and training they need to get the job done is an investment in prosperit

american business and workers. in my discussions with the imf and finance ministers of the g-20, i've emphasized the school and will continue to do so. and willize this goal continue to. it has been more than 30 years since we have had comprehensive tax reform in this country. combined with often imprudent regulations crafted in the midst of the crisis, the entire american prosperity has slowed. i believe a goal of the percent gdp or higher economic growth -- 3% gdp or higher economic growth is achievable if we make reforms to taxes and regulation. there are about 100 people working on the issue of tax reform. bring reliefl to to middle-income americans and make american business competitive again. we will do this while simplifying the tax system. on regulatory reform, treasury is preparing its initial response to the president's executive order on core principles regulating the united states financial system. these principles provide a roadmap for the administration's approach to financial services regulation. we have taken a systemic approach in our meeting with stakeholder groups to hear what works, what doesn't

the senate finance committee this morning. >> i want to briefly comment on the horrific terrorist attack in manchester. americans are bound to our british friends by a common language, culture and many other things such as the common law. as a boy i remember the strength it brought to us americans to witness the courage of the british people as they stood strong in the battle of britain. we know the resolve of the british people will once again vanquish a common foe. today i think we can speak for all members of the committee when i say, god save the queen. and god save great britain. we care a great deal for our friends overseas. mr. hatch: and we wish them est. today's hearing has a dual focus. we will be -- we will discuss the president's budget for fiscal year 2018, as well as ongoing efforts to reform our nation's tax code. we are pleased to be joined here today by treasury secretary steven mnuchin, who will provide the administration's perspective on these important issues. we welcome you back to the committee, mr. secretary. as this is your first budget hearing, before this committee, let me warn you. the

the u.s. and try not a great to promote shipments of american natural gas. finance ministers do not see eye to eye on trade. investors are focusing on the data, looking for evidence that consumers bounce back after a week first quarter. this is bloomberg daybreak. u.s. retail sales coming up shortly. grind lower continues, futures a little bit softer, down 2/10 of 1%. euro strength, not the story, the dollar on par 4 to best week of the year. >> all eyes on the u.s. economy. u.s. retail sales and vpi -- cpi for april. discussing monetary policy in dublin and the philadelphia fed president delivering a speech on the economy. at 10:00, my favorite thing, universe michigan sentiment numbers, the soft data read. >> because it is michigan, that is why it is your favorite? [laughter] therade at the top of agenda and late yesterday, the commerce secretary announced a trade deal with china, exports of everything from beads to liquid natural gas. cirilli.s kevin we thought we were going to war with china and now we have cooperation. gashis influence is natural , which is a b

the united states willingness to assist columbia's strategy to target and eliminate drug traffic networks, illicit financing cocoa cultivation and cocaine production, of which there is far too much. the drug epidemic is poisoning too many american lives and we will stop it. many different ways, one of them will be the wall. my administration is committed to keeping drugs and gangs from pouring into our country, already border crossings are down more than 73%. secretary kelly is with us. he has done a fantastic job. thank you very much mr. secretary. in short, we have a tremendous group of people working with us in terms of ice, the ice patrol and border patrol agents. they have done a fantastic job and i would like you to give them my highest compliments. ms 13, likewise, a horrible large group of gangs that have been led into our country over a fairly short amount of time are being decimated by the border patrol, by ice and by our incredible local police forces, and they are getting out of our country, or in some cases going directly into prison throughout our country, but they have literally taken over towns and cities of the united states. they will be gone very quickly. i look forward to working with president santos as we

the stranglehold on the financing of these terrorist organizations. so, you could deprive them of supplies, munitions, and target their leadership wherever possible. tom will that require more : american forces, more deployed footings and more airstrikes in syria? how do you see it playing out militarily? what i don't want to see is large-scale boots on the ground in the middle east. we are looking for support from the american people. we don't want a large-scale ground war. it does require a renewed focus with allies in the region. isis is not just a u.s. threat, but a challenger, threatening the stability of the entire middle east. before we can work our international partners, the better we will be against the war against the islamic state. i think you are seeing those stepped up efforts. tom this forthcoming week we are : supposedly going to see a new budget request from the trump administration for fiscal year they will be proposing 2018. something on the order of's a $17 billion increase in the defense budget a -- above the caps on the law. they are proposing steep cuts. in the last fiscal year, 2017, something unusual happened area and the defense department got a raise. but it

the american dream is to own a home. john: it is not necessarily political? mr. mnuchin: it is not necessarily political. homeownership is important. it is a big part of the economy. housing financemportant part of creating growth. john: we talked about regulations and getting rid of them. which ones do you particularly want to target? you talk about dodd-frank being too narrow on finance. you said it could be broader. how would you define that? mr. mnuchin: in financial services, we a not just looking at dodd-frank. we are looking at every single thing impacting, and we have h hundreds of people come in. we have reached out to big banks, small banks, finance companies, all different types of areas of the economy that impact credit. we are determined to make sure we have proper regulations of -- regulations so that we do not put taxpayers at risk, but we also don't have overlapping regulation. we have clarity so banks and insurance companies know what they can do. john: which you think of a more sweeping law that dealt with all of this? perhaps starting again in some ways? mr. mnuchin: when we come out with a report, and the first part will be in june, there will be certain recom

the finance committee. what is still intact is more than $800 billion in medicaid cuts. these medicaid cuts are going to hit american communities like a wrecking ball. the pain is going to be felt throughout the ages. youngsters with special needs are going to be affected because medicaid plays a key role in their care. that is why i saw some advocates and tears when they are talking to me at home about the medicaid cuts. if you are a high school student and you have a brush with cancer because they blow holes in the current protections for americans against discrimination with pre-existing conditions, those high school students, hopefully they have a remission, but they would be carrying around a scarlet letter through the rest of their lives. . . >> >> when i looby doing them is using that time to make sure we can stop it dead in his tracks any further effort here in the senate to put a thing or two in the house bill but it is still alive in the senate republican caucus because the basic frame is billions of dollars of tax cuts for the most fortunate in america and hundreds and hundreds of billions of dollars in m

i do believe that is important to do and i think the american people believe it is important to do so how that gets done in structured and housing finance reform is more in the housing reform space than in the conservatorship. >> i want to commend you for your leadership. for your steering this into a very stable, solid position that you have done a strong job in trying to follow the mandates that are there any of taken atrophic leadership position. again, i want to say how grateful i am for your friendship as well. >> thank you, so much. >> you may have seen everybody disappear here, there's a vocally non- >> i was aware of that. >> i expect senators to return. while we are waiting out will take another turn at questions. i want to return to the issue that senator corker discussed with you. as i understand it, according to the preferred stock agreements the treasury has committed to buying senior preferred stock to ensure freddie and fannie maintain a positive net worth. there's currently $250 billion of treasury assistance that can be accessed. senator corker, i don't want to speak for him as i understand his point. his saying that th

it's the lowest price ever on our temperature balancing i8 bed, save $700 plus 36 month financing. ends monday. go to sleepnumber.com for a store near you. harris: many americanweekend as the unofficial start to summer. one group wants to make sure we remember the men and women who have died fighting for america. the group called rally point has launched a national effort encouraging all of us to visit the cemetery and put at least one rose on every fallen soldier's grave. we are also getting an inside look at one of the most interesting and coolest teams on the planet, the blue angels. chris wallace talked with the commander of the squad and got an inside look at a squad that's been reaching great heights for more than a half-century. >> it's focused on that very precise control of the airplane and flying it to the best of your ability and you think ahead what's next. reporter: he is commander of the blue and angels, a precision flight squad. he is in the number one jet leading his team through intricate maneuvers at up to 70. the planes are sometimes just 1. they were in the area to perform at the u.s. naval academy and we got to go inside their operation.

financing campaign and directed focused lobbying. american companies expanded their use of both strategies in the 1970s. let me skip to the end of this chapter to summarize the larger process. by the late 1970's the political mobilization of american businesses had begun to redirect the nation's economic policy in a way that pleased conservatives and disappointed progressives. organized around a commitment to free market capitalism and opposition to social regulations business groups lobbied successfully during a number of key legislative battles that helped stem the tide of liberal pauolic policy. ralph nadir tried to lead a reform to spearhead change in the government. the business roundtable led reforms against the national labor relation act which would have improved labor unions ability to organize workplaces and create greater oversight and transparency in employee-worker relations. by the 1980s, these grouped joind with increasingly active conservative policy groups to promote tax reform, impose environmental regulations and impose a balanced federal budget. despite policy and strategy disagreeme

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