It is a miserable and nasty night out there. Thanks for joining us tonight. Im jan jeffcoat. Im lesli foster. It is cold, wet and where you are makes the difference on whether you are seeing snow or rain. First alert meteorologist topper shutt is here to show us where that line is. Were looking at temperatures in the mid30s with heavy rain in d. C. , heavy rain up 270 and in between frederick and baltimore. See the reds and oranges. A little snow out toward leesburg and mixed precipitation down i81 toward Orange County and luray. This is all rain through the immediate metro area, Silver Spring, rockville, heavy rain down toward old town moving to the north and east. This is going to be the most intense part of the storm between now and 3 a. M. Well move it north. A little snow still around leesburg either side of 15. Were looking at reports of sleet toward new brunswick. For the most part, we are looking at a half rain overnight. There are still Winter Weather advisories essentially we
Modi that well resume negotiations on a High Standard bilateral investment treaty. And we seem to be miles apart from india. Even on basic definitions of investment. There is not much time left if you want to talk about it, but id like a detailed answer in writing. Im happy to get back to you in more detail. But in the minute i have lets me take a quick shot. Ive been deeply involved with the discussions with china through strategic and economic dialogues. It is a very important conversation because if it concludes successfully china will raise itself to standards that will help in a lot of ways in normalizing and improving trade balances. It empowers their reformers. It empowers their reformers to make the changes internally and stops them from doing things in International Markets that cause unfair advantage. I understand the rationale. What id like is a detailed summary where we are with this. And they are just taking the very first step very shortly putting out their first cut at w
Looking, well be following up with the two of you, on the idea that if you triple the standard deduction and a number of senators of both Political Parties are interested in a significant increase in the standard deduction, you dont have so many people itemize and that is another possibility. But well follow up with you on the simplicity issue. I want to wrap up with one last question and that is, is there one thing you regret about what happened in 86 and you would counsel us in terms of what to do in the future . In other words, it is always easy to think about what is possible today in the abstract, but you two went through it. Anything you regret and you would like us to change . I know that one thing i regret about 86 and i was june a junior, Junior Congress person is senator bradley is right when he says no Current Congress can permanently bind a future congress from unraveling it but you can make it really hard. Can you put people through multiple votes and the like. So i can th
Clean debt limit increase. Under no circumstances . I told the president theres no way were going to pass one. The votes are not in the house and the president is risking default by not having a conversation with us. By moodys ceo says the chance of a u. S. Default is extremely unlikely. That reflects our thinking that it is extremely unlikely that the government treasury is not going to continue to pay on the treasury securities. Hopefully it is unlikely that we dont go past october 17th and fail to raise the debt ceiling, but even if that does happen, then we think the u. S. Treasury is still going to pay on its treasury securities, prioritize those payments. Still, the dollar is trading near an eight month low today amid debt default fears. Take a look at whats been happening. You can see that the dollar is down against the euro at 1. 3572. The dollar is at 96. 96. Well talk more about that with john harwood. First, andrew has a roundup of the mornings top stories. Andrew, welcome b
Thank you. Thank you. Im director of enforcement at the f. C. C. Today we are announcing that b. P. Has agreed to pay more than a half billion dollars that it misled investigators about the rate of oil flowing during the deep water horizon disaster. The 525 million penalty represents the Third Largest civil penalty ever assessed and those funds will be used to compensate harmed investors for losses sustained from this fraud. B. P. Misrepresented in f. C. C. Filings that the oil spill flow rate was estimated to be up to 5,000 barrels of oil per day and that was the current estimate. In fact b. P. Was in position of numerous analysis where 5,000 was at the lowest end of the range and those same analysis had upper ranges that were many multiples of 5,000 barrels. According to our complaint b. P. Executives made public statements in which they stood behind the flow rate of 5,000 barrels despite an ever growing body of evidence that the estimate was unreasonably low. They dismissed higher e