Post of scorekeeping functions. In support of the appropriations process, tracking spending and helping Congress Figure out how much we are spending and how much bills will cost. Host talk about who you answer to. Phillip we are a nonpartisan agency and answer to the congress. We work through the two budget committees, but we work for the entire congress. Generally our work is for the chairs and ranking members of the various committees. If there is something on health care that would be in the senate for finance, and similarly in the house. And we answer to all of the members and support all of the members equally. Host all of the members are interested in your budget outlook. What is the take away who to work phillip it is twofold. On the economics side we have continued gdp growth in the forecast, but large budget deficits that persists. Reachingto gdp ratio, unprecedented levels. 180 of gdp, a level never seen before. That is what is striking, that conjunction that is in good shape
Good to be with you. Im annemarie green. Mike bloomberg made his first appearance at a democratic president ial debate last night in las vegas and he quickly came under attack. He faced jabs or rather faced jabs over his wealth and record on race as new york citys mayor. Elizabeth warren called out bloomberg over alleged incidents of Sexual Harassment at his Company Including the use of nondisclosure agreements. We have very few none disclosure agreements. How many is that . Let me finish. How many is that . None of them excuse me of doing anything other than they didnt like the joke i told. There were also fireworks between Pete Buttigieg and senator bernie sanders. The pair sparred over union employees. Youre the one who is at war with the Culinary Union right here in las vegas. We got more support than you ever dreamed of. Laura podesta is in new york. Laura, what other Critical Issues did the candidates clash over . Reporter one of the biggest issues they argued over is who is best
Operation yet. Not much to be disrupted. Romaine lets talk to our reporters. Abigail . I want to check in with this cross asset chart. We have bonds are the winner in pricedtreasury futures slightly above the s p 500 by 50 thes points, but netnet, s p and bonds are higher. Everything else is lower. China is down just slightly in blue. In orange, we have emerging markets, overall taking a bigger hit wn bottom, copper in pink and crude oil in yellow, those commodities that lag risk assets. Tat could be a bearish ell on volatility ahead. The chipmakers are getting hit the hardest, off 1. 5 , relative to the s p 500, but if you look at this chart, i want to put the underperformance of the stock into perspective. Im looking at stocks relative to the s p 500. Over the long term, they are still outperforming at a ratio , so you are still near the 18 year high despite todays underperformance. On a relative basis with the chipmakers holding in there. It was a strong day for real estate stocks a
Tour takes you to amarillo, texas. The treasury secretary Steven Mnuchin testified to congress. Theielded questions about 4. 8 trillion proposal and Economic Growth and the impact of the jobs act signed into law december, 2017. [camera shutters] sen. Grassley we are pleased to have treasury secretary mnuchin, here today testifying about the president s fiscal year 20202021 budget, the president s budget includes proposals to confront a number of important issues, i want to work with the president , the secretary, and others in congress, to address these and other pressing issues, within our committees jurisdiction. Drug pricing, and employer pension crisis are two such issues that must be dealt with, this Budget Proposal comes at a time when the economy is very strong, especially for working families. Better trade deals, less regulations, lower taxes from tax reform, we have translated into wage increases. Especially for lower wage earners. And historically tight labor market. Over six
In here or outside . Outside and in here. We have 30s, under mostly clear skies. Most of it is disappearing. Well get a break but we are running noticeably cooler. 8 to 15 degrees cooler than 24 hours ago. Remember yesterday we had clouds and light rain under clear skies so its much, much cooler. 53 to 55, a little bit below average for this time of the year. Santa rosa to san jose, quarter mile by stockton. Livermore has had about 3 miles visibility, but after that it seems to be okay. Slowly increasing clouds in the afternoon, and the system will be here for some light rain tonight. 50s for highs. This rain system will be very weak and gone early saturday morning. 7 01, here he is, and so far, so good, or something new . It has been good so far and were looking at the east shore freeway. I want to show you a time of 21 minutes from the carquinez bridge to the macarthur maze. I kind of like what i see of this mornings commute. We havent had very many slowdowns. 21 minutes is about hal