My name is tom schwartz director of the Herbert Hoover president ial library museum. Before i introduce todays author a few housekeeping matters. If youve not seen our new temporary exhibit. Deliverance america and the famine and soviet russia 192123 please take time after the talk to do so. It tells the story of how Herbert Hoover and the American Relief administration. Fed more than 10 Million People on a daily basis. During one of russias worst famines we also welcome speech cspan. Who are recording todays event for later broadcast . These programs would not be possible. Without the support of the hoover president ial foundation who are in the midst of raising 20 Million Dollars for a complete renovation of our permanent galleries . To learn more about the project. And how to become a member visit their membership table in the lobby. We are also grateful for the support of diamond v. As many of you know, they are a Global Nutrition and Health Company and nearby cedar rapids. Annette
Lawmaker hiking its full year outlook as sales jumped 70 in the Fourth Quarter. Twitter finally sets the price of its ipo today after the closing bell. The most anticipated tech offering since facebook last year. Very warm welcome to you. We kick off with the final snapshot of the services pmi and the composite. The final services pmi, 51. 6. A pick up from the 50. 9 flash number. The composite pmi, then, 51. 9. It was 51. 5 was the flash of the composite number was picked up, as well. October Services Output prices, 48. 5. That is a slight tick down in prices from 48. 6. Which was the flash number. Euro dollar just moved away from that sevenweek low. 1. 3501. Were traiding between that 1. 34 level and the two of year high which we hit two weeks ago, 1. 3833. Well get more action on the eurozone economy as we go through the program. Also listen to go what ba systems has to say, theyre expecting to act around 1,000 jobs in three uk shipyards. They will make more announcement a little bi
Trying to raise more taxes for washington to spend the money. How does this end . In the end, republicans, from everybody i talked to, they could live with the across the board cutting. It would hurt your state deeply. It would hurt the defense industry. Are you willing to just live with it . Heres what i hope will happen. We have in our alternative several proposals that the president has actually come out in favor of. There are improvements to the whats called the medicare provider tax, to get rid of the gimmick that states are playing. The president supports that. Our plan says we have to bring a federal Employee Pension benefit down in line with the market rates. Those are the kind of things that were talking about as alternatives that make a lot more sense, that wont have the impact on the people who are out there working. You know, the president is the one who proposed the sequester in the first place. Again, im questioning where this thing is going because hes not moved in any s
Sponsor of for that reason. These are indiscriminate cuts. We can do a lot better. What i hope to be able to hear from the president in the state of the union is he wants to join us in trying to effect much smarter cuts in spending. But thats what hes saying. We dont have to have the impact that you just described. Why not work with him on shortterm measure which he is talking about to delay this, find a different way to go about some of the cuts . The problem is, david, every time you turn around the answer is to raise taxes. And, you know, he just got his tax hike on the wealthy. And you cant in this town every three months raise taxes. Again, every time, thats his response. And weve got a spending problem. Everybody knows it. The house has put forward an alternative plan, and theres been no response in any serious way from the senate or the white house. Its time we really have to do it. This is how the president responded to that in his saturday address. Taking on the house plan and
In washington as the president prepares to deliver his state of the Union Address tuesday night. As we begins a second term, were being told he will return to his primary message of how to restore economic growth. Well talk to both sides this morning. Majority leader eric cantor and assistant democratic leader in the senate dick durbin. I want to welcome you back to meet the press. Pleasure, david. Thank you. There are so many areas that are contentious right now, and chief among them is the sequester word. This dirty word in washington, that means automatic spending cuts. It could begin in a matter of weeks with 85 billion in automatic cuts. Do you really want this as a republican leader . Look at the impact it would have in your state alone. The Associated Press wrote about this it this week. Sequestration, today a political football would cripple virginias economy if happens. Potentially no state would suffer more than virginia. The commonwealth would lose more than 130,000 jobs, mo