The next shutdown deadline approaches on November 17. A shutdown may be avoided, but markets will also assess the broader fiscal strategy of the U.S. government.
tomorrow. this weekend he ll be at mara l mar mar-a-lago. before he heads to mar-a-lago, the president will be in virginia giving a speech about military spending. you see him making that a priority for his budget, $54 billion in increased is his recommendation offset by $54 billion in cuts across domestic agencies, including the environmental protection agency. trump sees an opportunity to maybe bring the hawks and republican party who are very skeptical of him, privately and publicly, senators like john mccain, to come to his side. he doesn t support this defense sequestration, these automatic budget cuts. last night in the chamber of the hois, you saw senator mccain stand up and applaud when trump spoke about military spending. whether this is a long-term good feeling among these hawks
next biggest threat it u.s. security and he had this warning about iran. iran will continue to influence across the region. if confirmed as chairman i ll make sure that our leadership has a full range of military options to deal with iranian activity. reporter: his confirmation hearing to be the next joint chiefs chairman came on the very day the army announced it is cutting its force by 40,000 troops. going from 490,000 to 450,000 troops in the next two years. military bases and communities across the can country affected. fort benning, georgia and ft. hood texas suffering the biggest impact. unfortunately under sequestration and automatic budget cuts,ed to aannouncement may not be the last. . reporter: but muted reaction from many in congress. cuts largely a result of congressional mandated budget cuts known as sequestration. some analysts say with no large
getting involved in syria s civil war. gregg: and rising floodwaters no match for automatic budget cuts. we ll tell you how those cuts are affecting some pretty vital equipment. you think you re okay because they tell you it has crested and everything and right away, within eight hours, overnight, here it was in my house up a-foot deep in the basement. [ male announcer ] let s say you pay your guy around 2% to manage your money. that s not much, you think. except it s 2% every year. go to e-trade and find out how much our advice and guidance costs. spoiler alert: it s low. it s guidance on your terms, not ours. e-trade. less for us. more for you.
when it comes to boosting the economy and creating jobs, gop leaders have stuck to one solution. cut spending. it s time to cut spending. try and reduce the level of spending here in washington. our goal here is to cut spending. the sequester, it does cut spendi ing spending. cut spending. oh, sure, that ll fix everything, right? wrong. president obama repeatedly warned that last month s automatic budget cuts would hurt our economy and slow down our recovery. my budget also replaces the foolish across the board spending cuts that are already hurting our economy. but speaker boehner, majority leader cantor, and the other far right wingers wouldn t budge. and now the cuts are hurting air travelers. the faa has been forced to slash hours for 47,000 employees.