Joe gould is congressional reporter with defense news. What is in the version, the 2018 version approved by the House Armed Services committee . In this case they authorized about 56 billion in funding and 696 billion in funding and related provisions for the pentagon. At 696 billion figure, it exceeds the cap set in the budget control act. How will congress reconcile that . That is a huge question. The budget cap for defense, the number is 549 billion. So what it would take to ease the spending caps is a change in the law, and a change in the law takes 60 votes in the senate, and 60 votes in the senate takes Senate Democrats. So what we know is that if Senate Democrats have leverage, they are likely to press for more on the nondefense budget which is likely to lower the defense side of the budget. Thats 596 billion number we are talking about is likely to come down. Lets go to investments, what does this bill called for in terms of ships and planes . What we have heard from the white
About 696 billion dollars in defense funding and related policy decisions for the pentagon. That 696 million figure exceeds the caps in the budget control act. How will congress reconcile that . Huge question. Hugeumber that is a question. It is 596 million. What it would take to ease the spending cap is a change in the law. 60 votes in the senate takes Senate Democrats. What we know is that if Senate Democrats have leverage in this deal, they are likely to press. Which is likely to lower the defense side of the budget. So the 596 number we are talking about is likely. What sort of investments does and bill call for in ships planes and things like that . What we afford from the white and onfrom the president the campaign trail about a largescale military buildup, we dont really see that in this bill. Aboutite house number was 603 billion excluding wartime funds. Republicans that actually criticized it as too little we do see a number of jets, and other items that exceed what President
About 696 billion dollars in defense funding and related policy decisions for the pentagon. That 696 million figure exceeds the caps in the budget control act. How will congress reconcile that . Huge question. Hugeumber that is a question. It is 596 million. What it would take to ease the spending cap is a change in the law. 60 votes in the senate takes Senate Democrats. What we know is that if Senate Democrats have leverage in this deal, they are likely to press. Which is likely to lower the defense side of the budget. So the 596 number we are talking about is likely. What sort of investments does and bill call for in ships planes and things like that . What we afford from the white and onfrom the president the campaign trail about a largescale military buildup, we dont really see that in this bill. Aboutite house number was 603 billion excluding wartime funds. Republicans that actually criticized it as too little we do see a number of jets, and other items that exceed what President
Been a fan before i was in congress of going beyond the saids initiative feds policy. I felt like q1, q2 and q3 do not create the job increases that policymakers at the time thought. I have been concerned as we go back and look backwards since 2008 that said officials have always been a little reluctant to talk about some of the unintended consequences such as a distorting the price mechanism in our economy, depressing cap rates for real estate or running up equity prices which i think are a result we have flooded from qe2 into our economy affecting prices. Today, i have not heard discussion, we talked about the Balance Sheet and Interest Rates , i want to talk about the money multiplier affect in your toolbox. We flooded the system with reserves, but we have a money multiplier down at apples rates , 1930s types rate. I guess my view, you shouldnt lower Interest Rates on banks as raising rates and planting this very thoughtful, careful shrinkage of the Balance Sheet . Chair yellen the
Welcome. Promoting Economic Growth remains are top priority for this committee and this congress. It is carefully and thoroughly evalwaiting current laws and regulations. There have been numerous developments that will impact Economic Growth legislation. Senator brown and i have so police sa solicited and more than 100 submissions have come in. They are listed on the committees were site. They issued their second report. The Treasury Department issued the First Department in it is finding ways to help our economies improve. Support for Bipartisan Legislation continues to build. Particular interest has been focused on finding bai partisan, change the threshold, exempt certain terms from stress testing and simplify small bank capital rules. These are just a few of many issues raised to the committee in recent months. Imposing enhanced standards design for the most complex system on institutions that are not systemic has real world implications. I regularly hear from idaho men and women w