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Transcripts For CSPAN Washington This Week 20130217

And they comprehensive, joint effort to reach a longterm resolution. Anything short of that will place the American Economy on an irreversible, downward path. We will hear about the past consequences of the impending cuts. I do not doubt that they will be painful to bear. If there is a way to mitigate the pain,im open to discussion. I believe it is important to emphasize that the sequester of whatever temporary solution we have made is just a precursor to the main event. Thank you. Thank you, senator shelby. We will go to the panel. I am going to explain how this is going to work. We would have begin with omb and wrap up with National Security. In the interest of time and efficacy, we will have one panel and be able to ask questions where we can get cross communication going. We will start with you and then secretary donovan and secretary napolitano. We will go to questions and alternating on both sides of the aisle. Right off with senator shelby and myself. You are representing omb. T

Transcripts For CSPAN Capitol Hill Hearings 20130214

And new guidelines on Cyber Security. Well get to jack lews confirmation in a moment. First the cbo director Douglas Elmendorf testimony. He warned of the sequester could cost 750,000 jobs. Could you tell me in terms of the negative Economic Impact of the sequester, the. 6 , what does that translate in point of lost jobs . Our estimate is that the sequester alone would reduce gdp growth this year by zero point six percentage points. It would lower that gdp at the end of the year. We think that would reduce by about 750,000 jobs. 750,000 jobs between now and the end of 2013, right . Right. That is a whole lot of jobs. We should be working overtime to prevent that kind of job loss. If you were to replace the deficit reduction through that austerity program, the cuts to the sequester with a plan that accomplishes the same amount of deficit reduction spread over the 10 year period, you would not have that hit on jobs . Right. Our analysis, the republican leader, mr. Cantor had it right las

Transcripts For CSPAN Capitol Hill Hearings 20130214

I was a wide eyed congressman and he was a top aide for house speaker, tip oneill. We became friends. He taught us a whole lot. I know that tip a tremendous influence on jack. It is clear that he shares the same work ethic and sense of duty. He shares another thing bipartisanship. Speaker oneill was renown for sitting down with president reagan and trying to work problems out. Jack was heavily involved in that and continues to be. He is a bipartisan person who wants to be successful at working with both parties. You mentioned the issue with trust. There is no straighter shooter than jack lew. He is one of the most honorable, honest, and decent men in washington. When he gives you facts, they are backed up with research. From the time i knew jack when he started in tip oneills office, he would always outline both sides of the argument and give each without bias. He would tell you where he came down, but he always let you make your own judgment. That has propelled him to an extremely suc

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