bret? bret: you know, chad, this is the time of the year when congress tries to avoid this set of mandatory spending cuts called sequestration. a lot of people maybe remember that from 2011. will that all happen this year? let s first define sequestration. it s a budget-control device which requires automatic spending cuts. it s a relic as you say from the 2011 debt ceiling fight. but congress usually turns off the cuts, often in big spending bills like this one. bret? bret: what gets cut this year, if congress doesn t act? well, it would trigger about $125 billion in automatic cuts, medicare payouts to doctors would dip by about 4%. they would slash farm supports, some conservatives hope to maintain the cuts, now kevin mccarthy is under pressure from fiscal hawks to lower spending. sequestration could serve as a down payment by mccarthy to show that he is serious about
have you checked gas prices lately or interest rates? absolutely we re in a recession. the economy isn t growing, don t seem to be, we can t keep up with anything. griff: 51% of americans have little to no emergency funds and many are uncomfortable with the amount they have saved, meanwhile, latest consumer confidence index falling for the third straight month to lowest point sentence biden took office and gas prices have fallen, the administration announced it selling oil from the strategic reserve adding to the 125 billion sold so far and something we re watching today, todd and carley, fed chairman jerome powell will see how high the next interest rate hike will be, fear it could be another three quarters of a point. carley: three major economic
now, house foreign affairs committee, texas congressman mike mccaul, welcome. does government play a role in decides whether u.s. companies with invest in foreign countrys? yes. the current rule they call entities list. department of defense has one, department of commerce, commerce is more industry driven. you cannot invest in no companies, to give you some perspective, there are about 125 billion dollars visited from the united states in to china every year. and only 500 million much that is screened to protect the united states from exporting technologies, they could go straight into the prc, military apparatus. the hypersonic weapon that we saw them launch, went
journey or is this a complete scam on the part of elon musk? boom, now he is out there blasting the president, he goes after him on a podcast monday, today he tweets that he is voting for republicans saying that democrats are the party of division and hate. is all of this just a bunch of baloney? because he knows there is a good chance the fcc is coming after him for all the antics he has pulled over the last two weeks, and he will claim, oh it s political, they re mad at me because i wasn t nice to the president? we are living in literally the most insane timeline imaginable. elon musk net worth has declined by 125 billion dollars in the last few months and he is still the richest man on earth. stop and think about the numbers that i just spoke. every day is more insane than the last. i think the reality is that if twitter weren t in the process of negotiating a buyout over
weeks, and he will claim, oh it s political, they re mad at me because i wasn t nice to the president? we are living in literally the most insane timeline imaginable. elon musk net worth has declined by 125 billion dollars in the last few months and he is still the richest man on earth. stop and think about the numbers that i just spoke. every day is more insane than the last. i think the reality is that if twitter weren t in the process of negotiating a buyout over the last few months, this would be a 20 dollar stock. if you just look at the destruction and share prices for companies like snap and meta and all kind of things that twitter would be come to, elon is very smart. he understands that. he has them over a barrel. reality is they cannot get the stock back to 50 something