any vessel owned by wita or a vessel leased by wita that's in wita surface. it, boats we owned or leased through a contract operator. >> gate e, what is the current revenue? >> i didn't bring those exact figures. i can tell you, i mentioned in the presentation that we currently have negative net revenues to the tune of about $125,000 a year. revenues that we do collect are less than the cost that we incur associated with that facility by $125,000. >> for gate e. >> for gate e and similar situation with gate b. the two of them together, the net loss or the net subsidy is $250,000 a year based on a five year history of those cost in revenues. >> okay. thank you. >> commissioner kounalakis. >> this is really exciting. i see in the staff report, there's expectation construction will start soon? >> yes. in fact, these occupants have been approved by the wita board as of last thursday at their board meeting. this is the final approval needed. i mentioned the construction lease and the llda which have been approved by both agencies. that was done in the fall. constr

any vessel owned by wita or a vessel leased by wita that's in wita surface.t, boats we owned or leased through a contract operator. >> gate e, what is the current revenue? >> i didn't bring those exact figures. i can tell you, i mentioned in the presentation that we currently have negative net revenues to the tune of about $125,000 a year. revenues that we do collect are less than the cost that we incur associated with that facility by $125,000. >> for gate e. >> for gate e and similar situation with gate b. the two of them together, the net loss or the net subsidy is $250,000 a year based on a five year history of those cost in revenues. >> okay. thank you. >> commissioner kounalakis. >> this is really exciting. i see in the staff report, there's expectation construction will start soon? >> yes. in fact, these occupants have been approved by the wita board as of last thursday at their board meeting. this is the final approval needed. i mentioned the construction lease and the llda which have been approved by both agencies. that was done in the fall. construc

any vessel owned by wita or a vessel leased by wita that's in wita surface.ts we owned or leased through a contract operator. >> gate e, what is the current revenue? >> i didn't bring those exact figures. i can tell you, i mentioned in the presentation that we currently have negative net revenues to the tune of about $125,000 a year. revenues that we do collect are less than the cost that we incur associated with that facility by $125,000. >> for gate e. >> for gate e and similar situation with gate b. the two of them together, the net loss or the net subsidy is $250,000 a year based on a five year history of those cost in revenues. >> okay. thank you. >> commissioner kounalakis. >> this is really exciting. i see in the staff report, there's expectation construction will start soon? >> yes. in fact, these occupants have been approved by the wita board as of last thursday at their board meeting. this is the final approval needed. i mentioned the construction lease and the llda which have been approved by both agencies. that was done in the fall. construction i

>> thank you to wita, ken levinson, to trade deficits matter? an easy question for any economist, the answer is yes. what is harder is precise ways to extend, conditions, trade deficits do or do not matter. trade deficit is not about poor people and whether we provide health care. we have 20 financial crises in 1975, we have a rich data set to understand how advanced economies respond to financial crisis, and old classmate of mine. and focus on the underlying causes. and positive developments, accelerating growth drives consumers for more important trade deficit allows us to consume more than we produce including more investment goods and what happens with strong productivity and good investment, rising trade imbalance. what we use to announce the monthly trade figures, the monthly trade deficit figures in the 1990s in the midst of the longest boom in american history under secretary of commerce. under other conditions, rising trade deficit signal negative developments. in particular areas, they are falling behind. more commonly the negative eve

the first 100 stdays ending wita tussle. the tweets this morning are critical of the judges and ninth circuit and roefeferring to ridiculous rulings. the president saying we will see s you in the supreme court. if the court gets the case, indicating the white house would win. the white house blasting a fer d federal court ruling after blocking the executive order to strip federal funding from the so-called sanctuaries cities. citing trump words. >> i don't want to defund anybody. i want to give them the money they need to operate as a city or state. if they have sanctuary cities, we may do that. >> reporter: in a scathing statement, the white house calls judge orrick an egrigieo surks overruling and having the blood of dead americans on their hands. >> unconsciotitutional threat against the cities. >> reporter: hours earlier, the white house chief of staff reince priebus asserting the ninth circuit which blocked the first travel ban is going bananas. a far cry from the justice department's subdued response. this is not the f

i will retire when i'm done wita a limp and nbc. i will come back to california because a native californian and eco-warrior widespread. the deal. we are back from california. i may mention we have a panel in california. what is never talked about is the unfunded pension liability which is posing on $400 billion. we were in downtown los angeles between our panel and conversation with you today. the potholes are enormous. there is in bad shape. the infrastructure problem in california are a mess. one of the earthquakes could poke fun at the ones i lived through too ashamed. california is not ready for that. they've got a 13.1% income tax, the highest rates wage earner. if the tax reform -- think about this. right now it looks like treasury secretary mnuchin wants to get rid of the and local income tax. political suicide if you'reicid watching, secretary mnuchin. it will be a 13% tax hike for the middle-class in california. kevin mccarthy will get wipedbln out.ocrats w we've got 15 republicans from california. if they pass the tax ref

thank you to wita and my good and old friend kim leavenson for inviting me. do trade deficits matter? that's easy. the answer is yes and no. what's harder is the precise ways extent and conditions under which trade deficits do and do not matter. let me dispose of two of peter's non sequiturs. first of all, trade deficit is not about poor people and whether we provide health care for them. let me also say that we have had about 20 financial crises since 1975. yes, we have a rich data set to understand how advanced economies respond to financial crises, to defend larry, who is an old classmate of mine. a trade deficit or surplus is simple. -- a symptom. as in medicine, here we should focus on the underlying policies. for example, a trade deficit can be a symptom of quite positive developments. similarly it allows us to consume more than we produce including more investment. when it happens with full employment and strong productivity arising trade imbalance presents no downside. that was my regular narrative when i used to announce the monthly trade figures whi