So the Vice President is the only person that can cut through that, talk to the private sector and simultaneously talk to state and local governments. And put all those pieces together. Hes also the only person that can demand a unified budget out of the omb and across the government. This was a bipartisan recommendation. It was a bipartisan recommendation. I have to tell you, i hesitated, as someone who sat in a government agency, a powerful government agency, i hesitate to transfer power to a Vice President or to the white house in general. As you know, cabinet agencies have a certain amount of tension with white houses. But at the end of the day, this is one of the areas where you need a unified budget. The only other place we have a unified budget is actually in intelligence. So this is a parallel to that, to pull all the pieces together. And its important enough to identify the Vice President. And Vice President s always have some time to take on other responsibilities. Thank you
Next, a Senate Hearing on u. S. Preparedness for biological threats. Then Gina Mccarthy talks about the clean water act and the clean power plan. After that, new mexico governor sus Susanna Martinez gives her state of the state address. Now a house hearing on the nations preparedness for biological threats. It comes following the release of recommendations from a special panel on biodefense. This is just over two hours. Good morning. We will begin this hearing. We will have votes in a couple hours. We want to make sure we move quickly through this. Before i start, i want to acknowledge that our good friend and Ranking Member of the committee, frank palone is not with us because his father died. We keep his family in our prayers. I did not personally know his father, i know he raised a good son. So we thank him for that. We will continue on from there. Next, joined today also with my colleague who is wearing Denver Broncos orange. Congratulations for a super they must be a good team, be
You indicate, attempting to quantify the benefits of safety and soundness regulation is very difficult. Mr. Brown who would have wanted this to take longer . Ms. Yellen you indicated that those who are regulated mr. Brown dont say what i indicated but who in this town, who in this country wanted this to take long her ms. Yellen we know banking organizations are concerned with regulations and the burdens they impose. Mr. Brown let me shift to another question, i think senator shelby will be back in a couple of minutes. Some have suggested repealing or limiting the Feds Authority to pay excess. Im concerned this is an attempt by those who are concerned about those who want to limit the feds monetary tools. What are the implications of repealing or eliminating interest on reserves . Ms. Yellen it is the most critical tool we have for Monetary Policy to adjust the level of shortterm Interest Rates and the stance of Monetary Policy. If we were denied the ability to use that tool, first let
Let me just add one clarifying d before we take the first volunteer on these questions. And, again, framing the discussion today, as youre aware, weve got an active secretary, assistant secretary. Weve got a former comptroller, and we have other people who are brainstorming. And so youre hearing different ideas in different veins, and i just want to underscore that point. I think that was something that alice was driving at earlier, and ill make start with her if you wish to begin with either of those questions. Well, let me certainly, one of the problems is theres political opposition to anything that looks like a benefit reduction to anyone, and that applies to military, to military retirees, to Medicare Beneficiaries, and its one of the reasons i think for looking at these changes across the whole system at the same time. And its certainly possible that medicare, which is at the moment having some success in holding down costs as is the military Health System can survive over the lo
Confessed to the entire super obvious trump team crime. Did he also mention to me in past that the the corruption related to the dnc server . Absolutely. No question about that. But thats it. Thats why we held up the money. Now, there was a report so, the demand for an investigation into the democrats was part of the reason that he withhold funding to ukraine. The look back to what happened in 2016 certainly was part of the thing that he was worried about in corruption with that nation and thats absolutely appropriate. Withholding the funding . Yeah. To be clear, you just described is a quid pro quo. It is funding will not flow y unless the investigation into the democrat server happened as well. We do that all the time with Foreign Policy. Yeah. Bad idea. Even the reporter, that was Jonathan Carl there, trying to help mulvaney understand what was happening. So, cue cleanup on aisle five. Mulvaney released a statement to walk back the very damaging comments as if they never happened at