C. B. O. Projects that we are entering a future in which our debt is so great that our Fastest Growing item in the budget will be Interest Payments. According to c. B. O. Annual interest costs will total 5. 4 trillion. By 2020, seven years from now, interest costs are expected to exceed the cost of National Defense. And i just left the Defense Committee hearing talking about the sequester and how damaging that will be to the Defense Department, because half of the cuts follow 1 6 of the budget and that is the Defense Department and that is too severe and they need to be spread out across the entire spending of issues. Interest payments which help no one build nothing will crowd on the rest of the budget and it will damage our economy in the meantime right now. While we talk of cuts, total spending spending on the 10 largest welfare programs, means tested and poverty programs will increase even more, 76 over 10 years, that welfare programs that overall comprise the single largest item i
Of the show, so join our live conversation for the next half hour on twitter, on facebook. Tonight the house of representatives, your house of representatives voted to increase the debt limit and extent the borrowing power of the United States until march 2015. What am i going to do with the rest of my year . Thanks to the Winter Weather system, lawmakers rushed this legislation through, avoiding an economic storm that could ruin us all. Thats what could have happened if the u. S. Started to default on itself debt on obligations. So lets be thankful to our politicians for doing what they are supposed to do. And it was americas economy that was very much on the mind of janet yellen today. In her first appearance before congress, yellen was plainspoken and easier to follow than past fed chairs. For you homeowners worried about rising interest rating, she said the fed would do it part to keep the Interest Rates low right now. And for investors she said dont get too worried about the recen
Representatives voted to increase the debt limit and extent the borrowing power of the United States until march 2015. What am i going to do with the rest of my year . Thanks to the Winter Weather system, lawmakers rushed this legislation through, avoiding an economic storm that could ruin us all. Thats what could have happened if the u. S. Started to default on itself debt on obligations. So lets be thankful to our politicians for doing what they are supposed to do. And it was americas economy that was very much on the mind of janet yellen today. In her first appearance before congress, yellen was plainspoken and easier to follow than past fed chairs. For you homeowners worried about rising interest rating, she said the fed would do it part to keep the Interest Rates low right now. And for investors she said dont get too worried about the recent volatility in the stock market. That or the debt ceiling thing helped drive a rally on wall street today. Of our economy, Financial Markets a
At oig, i would talk with all stakeholders. The state department itself and hopefully this committee would be willing to talk as well and provide perspective. Stakeholdersr would consult with oig staff about this. At the oig, we have a working group that is comprised of various divisions representatives for audits and evaluations and other offices. We get together and take all of the information from various stakeholders. We inventory everything. We do it based on the risk for. Must todos. Thank you. I hope you will continue to work with this committee and report to us so we will have some sense of what you are doing. I look forward to that. The special Inspector General for afghan reconstruction reported that the state department has provided adequate oversight of 50 million rule of law training contract being implemented by an italian ngo. As one of the senators raced, i wonder it it would be an issue. More can you what do to ensure that contracts are prepared with respective oversig
Already near their breaking point. This tremendous stress on the Health Care System. To say to this tremendous Health Care System which is at Maximum Capacity today, this is a Hospital System where we have our foot to the floor and the engine is at redline. Dana President Trump telling americans the peak of this terrible pandemic is still ahead after saying this could be the toughest week yet. Lets bring in kristin fisher, she is reporting live it from the white house for us today. Kristin. Dana, everybody from President Trump to the Surgeon General, to dr. Fauci say that this week and next week are going to be two of the toughest weeks in american history. You know, we have heard so much about how hard hospitals are being hit by this, especially those hospitals in new york city. That they are very close to their breaking point, and now, today, we have some hard data to back that up from the watchdog that oversees the department of health and human services. The departments Inspector G