Welcome to matter of fact. Deficit hawk is a political term you dont hear a lot these days. Its political slang for people particularly politicians who want to cut our deficit and our debt. Between the money the rn kes and the money it spends. If the government spends more than it collects, then its running a deficit. The federal debt is the running total of the accumulated deficits. And the gop once had a lock on the term. President trump campaigned on reducing the deficit and debt. And former House Speaker paul ryan of wisconsin made a career out of being a deficit hawk. Then he helped pass the president s tax cut for the wealthy. The federal deficit has soared and is on course to cross 1 trillion this year. Joelle gamble is an economist th 101. I just gave a brief description of deficit versus debt. What are people more focused on . Joelle to think about, which is more important terms of the deficit and the debt, you actually have to think about what the economy is like right now. T
Power lunch starts now welcome to power hundred mp. Its a record day on wall street the s p 500 notching new highs when tyler mentioned the dow and nasdaq are in striking distance. The nasdaq about 13 points away from that mark kelly. All right thank you very much. For more on whats sending stocks to new records today, lets go to bob at the New York Stock Exchange bob. Three things that are really mattering right now. Number one, trade talk optimism. Number two, the Federal Reserve cutting likely for the third time this year, this week and finally the Consumer Holding up well i think the Consumer Holding up is the key to all of this. I looked at the earnings calls for the 40 of kpacompanies that are reported so far, very clear. The consumer is holding up well and theres no concerns about a recession in 2020. Richard seeing the capital one ceo. I think the u. S. Economy and consumer is in pretty good shape. Me echoed many bank ceos that i heard saying the same thing. As for recession co
Way. Will it outweigh the rising cost of everyday living . That and much more on making money. Charles President Trump set to meet facetoface with the chinese vice premier in the oval office in less than 45 minutes. The markets rallying over reports that the u. S. Achieve a partial agreement with china. Here is deirdre bolton. Reporter the idea that the market is rallying or partial deal. Two moving part i hear from our sources is most likely. The first, as of tuesday, october 15th, the u. S. Had already cleared for to us put an additional 5 of tariffs on chinese goods. 250 billion worth on the 15th. So taking them from the current level of 25 to 30 . So our sources are telling us, more than likely the u. S. Will just hold steady at 25 . Not raise them to 30 . If that happened, that would be seen as a act of goodwill from the u. S. Side towards the chinese side. Now one thing that has already happened, but certainly important for u. S. Businesses is that the Chinese Securities Regulato
Also, the differing approaches to the immigration debate and how the approaches have shifted since the 2016 election. We ask that you wait for the q a so people can understand the questions. We invite you the street invite you to tweet along with us. We will have some staff tweeting the event as well. To do a little bit of a scene setter, i am Teresa Cardinal brown. I am the director of immigration and crossborder policy. We have been working on immigration issues since 2013 when our Immigration Task force was formed. Immigration has become a highprofile national issue. Increasingly important to our elections. It is also becoming more partisan as if we had not noticed that. Partisanship is not good for actually solving problems. Pcs job the to find solutions to the biggest problems. None of these issues is more in need of this than immigration. Last year, we conducted a nationwide poll to find out what types of Immigration Reform americans wanted to see. We found there was more Common
The Citizenship Question on the 2020 census and instead the president is issuing an executive order requiring federal agencies to provide the Commerce Department with information on citizens and noncitizens living in the u. S. Our own Edward Lawrence is live at the white house tonight with more. Ed . Reporter david we were the first ones to tell you what this executive order would do. The president ordered the executive order for the Commerce Department to basically be a Clearing House for all the records in the federal agencies. He said records including the Social Security records even records related to the department of Homeland Security to determine how many citizens are in the United States, and the president says this will give an accurate count of about 90 accuracy how many citizens are here. President trump we will utilize these vast federal databases to gain a full, complete, and accurate count of the non citizen population including databases maintained by the department of