changes. charles: the fact that it s all reluctantly lower to sort of acknowledge this is a situation, not necessarily a new paradigm but interest rates were with us for a very long period of time. is that also suggest that our own federal reserve could even be cutting rates more? you know, i can t comment on stead policy but the low rates are a reality. you know, when we look ahead and we see deficits persisting above a trillion dollars and we see debt rising, we still see interest rates sticking up in the future right is the deficit situation becomes worse but for now, we understand interest rates are low. he doesn t see mike the deficit is having an effect on race right now. charles: phil, thank you very much, we appreciate you working and your time. president trump looking at yet another world leader to this group. how would that play out in the u.s. and abroad?
pushed off the effects of the sequester so there s some extra spending this year and next year and that is going to help keep the economy afloat as well. charles: what about this deficit situation? for a long time everyone was concerned about it but now it feels like maybe no one is. you hear some folks on talk shows talk about a fork political assumption but their hearts can be in in a considerg how much their debt went up under the previous and administration. where are we going with this? where is the proverbial cliff? that s the challenge. we look at markets and we see long-term interest rates still pretty low and so as you said, the fiscal situation is challenging. that is nonsustainable but interest rates don t reflect that sow in our forecast, we pushed on interest rates. we look at the market. even with a lower interest rates as you said come on the deficit gets larger this year because of the added spending so the cliff is out there. what we can tell you where and when but