at the white house for the third time to discuss the debt ceiling. this comes a little more than a week away from the treasury secretary s so-called hard deadline for default. white house correspondent jacqui heinrich starts us off live tonight from the north lawn. good evening, jacqui. good evening, bret. we are expected to hear something each side following this meeting which has happened after every other meeting. it is speaker mccarthy s first solo meeting with the president, after talks fell apart last week and both sides exchanged barbed over the weekend. treasury secretary janet yellen setting the stable for the president s meeting with house speaker kevin mccarthy saying again it is highly likely the treasury will no longer be able to satisfy all of the government s obligations if congress has not acted to raise or suspend the debt limit by early june and potentially as early as june 1st. there will be hard choices if that doesn t occur. after exchanging barbs
the same to declare a climate emergency. here we are. we don t know why the white house stopped short of making this emergency declaration on climate today with of course president biden standing in front of a once-fired coal powered plant being converted into an offshore wind manufacturing facility. there s speculation a tough time to roll out that announcement amid high gas prices and recession fears and since can it be used as a legal basis to drop oil and gas drills. congressional republicans say pain at the pump is the point. i think the administration does want us to suffer. the secretary of transportation said yesterday you don t like the cost of gasoline, buy an electric vehicle. so some announcements did come from the president s remarks plan to propose wind mills in the gulf of mexico and a record of amount of fema funding for infrastructure, neil. jackie, thanks for that. let s go to jeff block right now. he s in philadelphia. witnesses this for himself. the
acre feet per year. that s enough water for l.a., san diego and phoenix combined. the cost # .2 federal tax to bay cities, tribes to cut back consumption. other reductions will come from conservation. likely from agriculture which ciewnels roughly 80%. if you want to make changes to how water is used and if you want to make significant cuts on the colorado river system to stabilize it. you re going to have to deal with the farmers. the three year deal only buys time. it avoids the thorny legal issue of california farmers longstanding claims to the river that could leave arizona and nevada high and dry. bret? bmplicated issue. the water issue we ll continue to follow it. meantime overseas. russia says it has won the 8 month battle for the ukrainian city of bakhmut. ukraine s president says not so
lawmakers should not abandon the $1 trillion of offsets and $500 billion in deficit reduction from the previous frame work and enacting deficit redukes could help check debt and inflation, which is the most important thing congress can do to reduce the risks of recession. so neil, just because new spending is off the table, some definite it is hawks are saying let s not forget that deficit reduction should still be on the table. neil? neil: got it. big news out of the european continent had nothing to do with weather but having to do with conserving energy. particularly natural gas. they re urging all european union countries to cut back consumption by 15%, this is natural gas. got us thinking of just gas, period. like fuel for your cars during the opec embargoes and the gas cries of the 70s. remember odd and even days? why what is happening in europe