That that ratio will continue to rise in an unsustainable fashion , so the addition to the debt taking what is already a significant problem and making it worse is, it is of concern to me and i think it does suggest that in some future downturn which, well, could occur just for whatever reason, the amount of fiscal space that would exist for fiscal policy to play an active role may well be limited. Sam and then victoria. Sam flemming. A couple of longer term questions. First of all midway through the year you talked about issues of whether inflation targets might need to be raised and a lot more debate in the fed system since this. It may not be an imminent issue but is it something the fed should discuss over the coming years some sort of change to the target and second of all the amount of stimulus tools that the fed may have at its disposal in the next downturn strikes are fairly limit limited. One of the incoming governors, Marvin Goodfriend talked about the merits of negative Inte
American people, a giant tax cut for christmas. And when i say giant i mean giant. [applause] David Connell mcshane, with us now. Connell, this was the president s final sales pitch to america an capitol hill. The house and senate will vote on a bill next week, right . Reporter that is still the plan, david. Interesting to hear what the president was on all of this, although updates weve been getting past couple days are focusing on tax rates for upper income people and also for businesses, the president this afternoon kept his focus where he has been in many speeches we heard him deliver, that is on the middle class. Invited up a number of families, middle class what they hope to save what they hope to do with the savings. He delivered what he described as breaking news. If Congress Sends me a bill before christmas, the irs, this is just out this, is breaking news, has just confirmed that americans will see lower taxes and bigger paychecks beginning in february. Reporter this speech j
Christmastime. Well bring you all of the details tonight and Deputy Attorney general rod rosen stein testifying today that he will not fire special Council Robert mueller as republicans ripped into the 375 texts many of which ripped into President Trump, from two fbi officials assigned to muellers russia probe that would be peter strzok and lisa page. Their texts are viral against President Trump and they call him an idiot and they are supportive of Hillary Clinton at the time when the fbi was investigating her private email server. The texts began as early as december 2015. Strzok has been reassigned in the fbi but now these texts are drawing the attention of congressional investigators plus its official in terms of the seed of its rocket ship rise on the term bitcoin now surpassing the infamous 17th century mania, one analyst says and we will break it all down for you, so is it time to buy or sell . Were watching your money weve got an allstar guest line up including former Senior Ad
Committee have been invited to that meeting. Adam shapiro has all the very latest. Adam . Reporter neil, some of the parameters of the deal we already know. Remember all of this has to pass what they call the byrd bath. It is being scored. If it doesnt pass or meet reconciliation guide lines in the senate and they have to go back to the Conference Committee to work that out. Here is what we know. Corporate tax rate, 21 . Top individual rate, 37 . You would be able to deduct 20 reduction from your taupe rate, top income rate if youre a small business. Mortgage interest deduction, this was agreed two days ago. Interest deduction on mortgages up to 750,000. As you pointed out the president is going to be having lunch with republican members of the Conference Committee, conferees. No democrats were invited to this here is what chuck schumer, Ranking Member in the senate had to say about where tax reform is headed. It is hard to believe they could make this new tax proposal even worse for t
Nicery. Were on top of that decision shortly here that could be others are saying consumers it could cut a number of different ways. Were on top of that. Were on top after market rally that knows no bounds. It would be 69th record of the year, go back to bill clinton president , 1995, for the most records achieved in single calendar year. A lot depends on tax reform getting done. Speaker paul ryan, a lot of that depends on my friends in the United States senate. Take a look. It is all about timing and managing absences in the senate. So, were basically being flexible for the majority leader. I talked to mitch a couple times about this were simply being flexible to honor their concerns about managing their schedule and possibly absences. Neil how will that sort out . Were talking about senators cochran and john mccain who might be too ill to be there for the big vote. That could make a big difference. To fox news capitol hill producer chad pergram. What do they do in that event . Here i