continue to be felt as new figures reveal the federal budget deficit surged. 77% in just the first four months of 2019. according to the treasury department the deficit for the budget year which began back in october came in at just over $310 billion. that compared to just under $176 billion during the same period a year ago. the jump in the deficit is a result of the 2017 tax cuts by the president and the gop along with an increase in government spending. and donald trump has long since boasted about his academic prowess. but there s one thing the public has not seen and that s his school records. the washington post reports that in 2011 the private high school donald trump attended of tasked with hiding his school files. the request came after trump had openly challenged barack obama to show his own records to prove
and this has been happening in illinois, declines in population for five years. what is the impact of all of that, well, no study in illinois but a study in california over the past 10 years, looking at the impact of high tax and high regulation out there, the study found that 1600 companies moved out of the state because of taxes. deferring about $76 billion in capital, moving that out and moving out about 275,000 jobs. so is an impact to this as we look at it. illinois, you know, got big problems, people moving over across the state line. it s not far, pretty much the same weather. and a whole lot less of your money taken by the government. charles. charles: valuable lesson learned. jeff, thank you very much. now to the guy who saw all of this coming. form are economic advisor for president reagan art laffer joins us now. you fled a high tax state
for yourself. did i. i wrote the book on it too wealth of states which outlines all of the policies that you just described. it s just amazing what is happening here. it s so sad because it s so easily corrected. but they just don t have the gumption or the power to do it themselves. it s really sad. charles: i mean, those numbers that jeff flock read off 1600 companies. $76 billion. 275,000 job losses. those are remarkable. huge. charles: just seems to be, you know, almost criminal that any politician elected to head of state would allow that to happen to their state to the citizens in their state. it s terrible. i wrote the book eureka about 8 years ago now. i was very involved with proposition 13. i just finely when schwarzenegger turned to the dark side, charles, i had to get up and pack up. i bought my house in nashville. just think of this beautiful home in bell immediate i bought it with my tax savings for that year period, no mortgage. and i don t have to be in califo
johnson & johnson successfully influenced u.s. regulators into not placing certain limits on asbestos in talcum products and can talked because the reuters article false and inflammatory, quotingy is an absurd conspiracy theory, j&j employees themselves. company goes on to say it provided reuters with hundreds of documents to correct misinformation and falsehoods here that we should note last year johnson & johnson had global sales, neil, excess of $76 billion. neil: trace, thank you very much. obviously people need to step back from this crazy world and may be, may be, this is the guy to do it. remember dion, member of this
announced punishments for companies that steal intellectual property. it may happen. but the market understands that is a long term process. they re going to buy more fruits and vegetables. they re going to buy natural gas, too, mary. many of the things they were already buying before as of this started. but this is a big steep hill to climb. so it s going take time. i m glad to understand that the market understands that. there s a lot to understand and get your arms around, especially the fact that all of it runs off of president trump. and the run thing that donald trump complains about are trade deficits. we have a $376 billion trade deficit with china. he wants that smaller if not disappearing. on the other hand, it s clear there are many other things going on in the this negotiation, this theft of intellectual property, the structure of the american