The Motion Yesterday despite the bills passing, and she will join us live coming up many just a few moments as the bill sends 60 Billion to ukraine, 26 Billion to israel, 8 Billion the taiwan and the indopacific along with humanitarian aid for gaza all in the face of a 34. 6 trillion national debt in america. It is headed to the Senate Floor for the vote on tuesday. Of joining me now ahead of it in this Sunday Morning futures exclusive is Texas Senator Ted cruz, a member of the senate foreign relations and judiciary committees. Senator, thanks so much for joining us. Good morning, maria. Good to be with you. Maria what is your expectation for the foreign Aid Bill once it reaches the senate on tuesday . If. Well, as you noted, were going to take it up this week. I think theres a lot of support for the bill in the senate. I think think it is quite likely to pass when it comes over on tuesday. Look, there are elements of this bill that are good, there are elements of the bill that are not
the motion yesterday despite the bill s passing, and she will join us live coming up many just a few moments as the bill sends $60 billion to ukraine, $26 billion to israel, $8 billion the taiwan and the indo-pacific along with humanitarian aid for gaza all in the face of a $34.6 trillion national debt in america. it is headed to the senate floor for the vote on tuesday. of joining me now ahead of it in this sunday morning futures exclusive is texas senator ted cruz, a member of the senate foreign relations and judiciary committees. senator, thanks so much for joining us. good morning, maria. good to be with you. maria: what is your expectation for the foreign aid bill once it reaches the senate on tuesday? if. well, as you noted, we re going to take it up this week. i think there s a lot of support for the bill in the senate. i think think it is quite likely to pass when it comes over on tuesday. look, there are elements of this bill that are good, there are elements of the bill
still far apart, but talks continue. today house republican negotiators are at the white house squaring off trying to reach a debt limit deal to prevent a default and a potential global economic catastrophe that could come as early as june 1st. right now markets are being impacted by this disagreement. the dow is down some 275 points. both sides have called talks productive, but they ve also given bleak signals and a wide gap still remains over spending cuts. i want to take a step back and look at the u.s. budget. what our government is spending money on. that number for 2023 is $4.6 trillion. but there s one specific part of that budget in particular we want to zoom in on.
yes, we spent a lot of money because we shut down the economy. there was about $3.4 trillion that trump spent. but since then, when the pandemic began to calm down and when we should ve gotten out of all of this extra spending, biden came in a double it up. he spent $4.6 trillion of extra spending not the total but the extra spending on top of what we normally pay to handle the bills of the government. you can t do that without an effect and the effect is inflation. it s not just biden. i have to put the finger on republicans as well because they went along with him with the infrastructure and bill, a trillion dollars, and the chips bill which was essentially a chinese production idea, following their model of industrial production that emanates from the government. republicans have a share of blame. but just say as biden does now that with republicans we get even more inflation is
inflation our country has seen in years. cheryl: this was baked in and you saw market reaction yesterday, had a strong day. as expected, the fed did raise interest rates by half a point as soaring inflation continues. press conference, fed chairman jerome powell saying more rate hikes are on the way. inflation is much too high, we have tools we need and resolve it will take to restore price stability on behalf of american families and businesses. raised policy interest rate by half a percentage point and anticipate ongoing increases will be appropriate. cheryl: dr. kevin roberts reacting with both of you last hour. my wife and i say to our kids, money doesn t grow on trees, the fed has been making money grow on trees, 4.6 trillion dollars. that will come home to roost and