United states. We will be robbing peter to pay paul of multimedia gulf coast with i unemployment in the midwest and other areas what achaean this committee do to do with the rigidity of the labor market . You really have a limited number of polls in terms of geographic mobility that has diminished in the United States. There are certain a a lot of other policies that i would urge the governors to look at. There is a lot of licensing and the certification for mobility it is excessive in the west but then you have the social safety net. So everything workrelated in that regard would help. My time has expired. I welcome your words with which they were offered and these were interesting and thoughtprovoking panel. The issues we have referenced with tax and traded health care are controversial but absolutely they need to be on the agenda. I would argue something the panel did not address but then to bring people together i think it may have the president of the aflcio the president of the c
Of living. The research on standard of living shows unambiguously that trade is great for these reasons. I just make two observations. Trade is great when say, japan is in recession. Japan is a huge economy. If japan werent in recession, it would be a huge economy plus 3 . So the returns arent that different no matter whats going on with japans Business Cycle or any of our trading partners. The second is i think to the extent the world is becoming more chaotic, what does this mean about the returns to trade . I think arg automobilely that raises the returns to trade. We are a world with greater shared interest and this is where formal trade becomes a policy as well. There is greater trade with our neighbors when we have deeper linkages with them, and putting it more bluntly in terms of Foreign Policy, we had a huge effect in russia because we used to trade in russia and sanctions have been quite effective. I think there have been Foreign Policy issues on the table as well. Those are re
Interrelated integrated economy, a Global Economy here in the u. S. On weve done well. Ic,cn think its been testified to today. Weve madepy Great Strides in our recovery, but theres so much more upside potential. Dr. Hall, the governors right that . A;u it is a complicatedekm7n,n8 i think tax reform for sure. I think that theres a lot ofen improvements that, in our economic performance6 l q we rationalizing the tax system and53k0q eliminating double taxationcitjso we have closer to uniform of tax rates, for instance entrepreneurial income. And then taxed again as a capital gain or dividend mostly Capital Gains. I think thats definitely Holding Things back. I think that we wouldf in see, we would, could restore earlier rates ofca before would be a huge factor in improvingc÷er paychecks. Xps think certainly 3an part of it. Senator coates and i, and we were pleased that forfb bp chairman camp picked up on thise2slz in our bipartisan tax reform bill what we do is rn triplesca the standard
Say, by b the end of this8jy century we would be just immersed in wed have wayuz n more4÷ debt than we possibly could pay. Something has to,[frgive. Aqn it has to give in the senseai hn of more revenue or less spending. I think our democratic system sitting here needs to take very seriously concerned about that. I share your concerns. If the chairman will permit expired, butmv÷ please go aheaddzwk[5 x q if the chairman agrees. First, the budget deficit is roughly back to normalp j pnow. Were around the 40year average as of last year. The deficit or debt . G the flow of new debt. The deficit. Second, if you look at theent projections and the sorts of spreadsheets, the qcy debttogdpu ahs ratio, which iijsmy think is the right way[ s c thinkq this, is roughly going to be stable over the next 10 to 15 years. Its only beyond that that stuff starts to explode. The truth is, we dontl en actually know whats going to happenyq wx to the economy 204 yn 30÷o5 out. Theialmt point estimates might
Dna testing. If you love bacon, Little Caesars is here to unveil bacon wrapped crust pizza. Watched with bacon it has so much bacon you wont know how to hold it. Like that. All that and more coming up on the willis report where consumers are our business. Gerri want more money in your retirement account . The government says, it has a solution. The white house working on tackling stockbrokers excessive fees and conflicted advice that can eat into americans investment he returns. Greg mcbride bankrate. Com, Jonathan Hoenig founder of capitalist pig peter morici economist and professor at the university of maryland. Great to have you here. Jonathan i will start with you. Big debate with sec and administration. Fiduciary duty, i ask you what is wrong with having brokers put their clients interests first . That is what brokers, that is what professional do, gerri. The whole notion we need to crack down, regulate Financial Services professionals it is a farce. One thing, Financial Services