Please welcome them. [ applause ] good morning, thank you very much for being here. Thank you for joining us. So the topic of this session is taxes, taxes, taxes so well start off talking about alabama. Original, original, original. We had a lot of discussion about taxes with your colleague the treasury secretary but i want to get in more detail and ask you some of the more detail. Let me start off with something i said with s. E. C. Theecretary. This is a one and a half trillion dollar Immediate Tax cut. Federal debt is already at 78 of gdp total federal revenues is at 17 , quite low by historical standards, the economy is close to full employment. This is this seems an unusual time historically to be adding such a huge amount to the deficit. Why now . So let me take that question to pieces because you ask a lot of different pieces in there and lets start with the core issue here. When you look at whats happened to the u. S. Work force since the recession, yes, weve created jobs. Were
This year. And tom lee has one of the years hire forecast yea years higher forecasts for stocks mike wilson, you had a base case but then you said bull case of 3,000 is much more likely. So you are throwing around the euphoria word and that makes some people kind of nervous about where we are sure. That was our call in 2017 as you recall, we were way out of consensus at 2700 basically calling for euphoria that we hadnt had that yet in this cycle. And so here we are, so i hope you enjoyed it because last year was pretty damn good. So the 2750 target base case is a year end target. The 3,000 bull case we think we could actually hit that in the first half because were obviously getting more momentum than expected. Not only from a market standpoint, but also the tax cuts were bigger than what we were forecasting 21 as opposed to 25 . And were getting a little chase. But i want people to understand what that is this is not a better risk reward than last year this is a worse risk reward beca
Beirut, thousands protest over what they say is a dysfunctional government. We go to colombia where one Students Initiative is turning her carcrazed hometown into a bike friendly environment. Security forces in macedonia have stand preventing thousands of refugees from crossing the border from greece, now letting groups go through. Theyre supplying buses and trains to take them on to serbia, which is the next stop in their journey to e. U. Member country. It was a very different scene saturday when hundreds of refugees and applying grants made a run for the border. Security forces were overwhelmed. Many people are trying to get to hungary, a major entry point into the e. U. Hangary itself is building a fence along its border with as her i cant, so the russia is on to get through before that fence is finished. Al jazeeras Andrew Simmons is in macedonia where many refugees have now boarded trains, taking them on to serbia. Two trains have left and now these people are left behind, trying
Cleanly. We go to colombia where one Students Initiative is turning her carcrazed hometown into a bike friendly environment. Security forces in macedonia have given up trying to stop the thousands of refugees from crossing the border from greece. They are now letting groups of people through and supplying them with buses and trains to take them to serbia. Thats the next step in their journey to e. U. Member countries. Al jazeera is in macedonia. Two trains have left and now these are the people left behind, trying to get their papers. All it is is a starch, allowing them 72 hours in macedonia, for them to be moved on up to the serbian border. Lets take a look around here. There are mainly men here. Women and children were given priority to get on the trains, but the system was quite disorganized, it was hit and miss. There was considerable tension with the police and people. The people were quite calm compared to the confront Aljazeera America which has happened on the border. They now
Slums. Ill be telling you how this card is helping people here get clean water cheaply. In sport, bolt is officially still the fastest man in the world. He wasnt the favorite this time, but bolts still good enough to win a third world title in the 100 meters. It is warned that the growing refugee crisis will rip out the solve of european union. Germanys vice chancellor has called for the e. U. s asylum policy to be revamped, saying Member States need to share the burden fairly. Germany said its prepared for a Record Number of 800,000 asylum requests this year. It had previously been expecting about half a million. The refugee crisis is continuing to build along the border between greece and macedonia. Thousands of reef gees are desperate to cross into macedonia and some are finally being allowed in. We have a report on the macedonia side of the border. Theres no end, it seems to the suffering, the exhaustion. Its a different place, a railway platform, waiting for another journey. At on