Again, we are live here on this friday morning at the center for strategic and international studies. Well hear from paul kuzuk. He is expected to talk blt coast guards mission and the effect the economy is having on that mission. No legislative business in the house for today. There will be be a brief pro forma session today. The session is in and lawmakers will be gathering in about half an hour to the debate about the keystone pipeline. The house passed its measure on the vote earlier this week. You can see that at 9 30 eastern. House republicans continuing their retreat in hershey pennsylvania. Senate democrats held a meeting in baltimore with president obama yesterday. Today the president is back here in washington. He is meeting with british Prime Minister dave cameron. That meeting is set for 11 05 eastern today, and afterwards the two will hold a press conference at 12 20. Following the joint press conference, well open the phone line for your reaction. Well also look aa your t
85 of the projected growth in spending over the next decade is driven by health care and retirement entitlements and interest on the debt. So thats where reforms need to target. To balance the budget before the end of the decade, we saw in the last house budget, it takes more than 5 trillion in cuts. That is assuming you start cutting right away. If you decide to cut in future years and not address spending next year, it takes bigger cuts to get to that ballpoint. So the sooner lawmakers can start cutting, the better. Where exactly should they start . Repealing obama care has to be their First Priority simply because 44 of the growth in sbiltsment spending is driven by the health care law. So if we are to rein in growing spending and debt obama care is where we need to start. This needs to be combined with reforms to Medicare Medicaid, and Social Security. During this process, lawmakers should be guided by focusing benefits on those individuals with the greatest need and delivering tho
Government spending is something that does not guilty gel with real life. In other words all of these government expenditures in some of the graphs that we show today are because were not taking their money so therefore, that e kwatquates to Government Spending where in real life does not taking somebodys money equate to spending again, the credible credibility gap, i think increases when statements like that are made. By the way, if thats the case, i think that what . Our gdp is what . 17 trillion . What we take in revenue and taxes is about roughly about 3 trillion. Ballpark figures. So, in essence, that means that were spending 14 trillion because thats money that the government is not taking from the economy. So should we then call that 14 trillion in Government Spending . No. Thats ludicrous. And its ludicrous to say that money that we are not forcefully taking because people dont pay this willingly, theyre forced to pay is somehow Government Spending. Credibility gap. When one sa
Screeria nigeria. Regulations. And later, idaho governor butch otter delivers the state of the state address. White house budget director Shaun Donovan was on capitol hill again wednesday to defend the president s 2016 budget request. The nearly 4 trillion proposal was released monday. His testimony before the House Budget Committee is almost three hours. This hearing will come to order. I want to welcome all to the Budget Hearing of the president s fiscal year 2016 budget. As we begin weve been directed by the department of justice that it is most appropriate to swear in each witness, to please take no offense, mr. Director, but as we discussed if you would please stand and raise your right hand. You solemnly swear, affirm that the testimony you are about to give will be the truth the whole truth and nothing but the truth . Let the record reflect that the witness answered in the affirmative. Thank you. Good morning, all. I want to thank everybody for being here and being on time. As w
Peoples opinion. They have their own experiences with this economy good or bad, and i suggest you stop digging once youre in a hole of that size. My question of you is how much business taxes are included in this budget. So what our budget does on taxes we propose a fully paid for set of middle class tax cuts that is paid for in the way that i discussed before. With business tax increases . Actually i want doesnt include any business tax increases. What are the taxes . I notice youre planning a massive increase for Capital Gains tax, nearly doubling the Capital Gains tax rate from the beginning of thiS Administration. All were doing is proposing to take it back to what it was under reagan. Are you proposing to take the income tax rate back down to where it was under reagan . We are propose inging a comprehensive, revenueneutral business tax reform. Were proposing to fully offset the tax cuts for 44 million middle class families average 600 drars ewith the Capital Gains tax. Heres the p