Currently stands. Welcome to National Economists club, our first event of the year. The National Economists club, for so, im pete davis, Senior Vice President and past president of the club. The National Economics club was started in 1968 by herb stein, pitcher of the council of economic advisers and it has met roughly 40 weeks out of every year since presenting leading economists talk about issues of the day. Today were very pleased to have Marc Goldwein of the committee for a responsible federal budget to talk about the return of trillion dollar deficits. Before introduce marc, levy tell you about some upcoming programs. We have dr. Alice rivlin on february 1 and a luncheon here at chinatown garden talk about said policy and the beloved about the budget come shes a former vice chair of the fed and, of course, the founding director of the Congressional Budget Office. We also have commitments to speak in february, although te dates have been set, by the culture of the council of econom
Pete welcome to the National Economist club, our first event of the year. The club was first of all, im pete davis, Senior Vice President and past president of the club. The National Economist club was started in 196 by herb stein, the chair of the council of economic advisers and it has met roughly 40 weeks out of every year since, presenting leading economists talking about issues of the day. Today, were very pleased to mark goldwine of the committee for responsible federal budget to talk about the return of trillion dollar deficits. Before i introduce mark, let me tell you about some upcoming programs. We have dr. Alice rivlin on february 1 at a luncheon right here at the chinatown garden talking about fed policy and maybe a little bit about the budget. Shes a former vice chair of the fed, and of course, the founding director of the Congressional Budget Office. We also have commitments to speak in february, although the dates havent been set by the current chair of the council of ec
Weve gathered and the ideas we are going to be discussing. Welcome to the committee for responsible budget for thostherf you who do not know if they Nonpartisan Organization the board of directors or people many of whom are with us today who have run all the bigbudget institutions in washington so the federal reserve, the treasury department, omb, the Budget Committees comes of a. To try to have a realistic understanding of the budget improvements are going to be needed to improve the fiscal situation in the country and to trick yo to have in a bipartisan way it kind of understanding of how hard it is to make these traces but there are so many reasons they are necessary to keep moving the ball forward. With that said i will say it is a rough time for the budget policy this country. Nobody should be under the impression that the Fiscal Health of the country is good. It is not. Our debt relative to the economy is twice what its been on average. We are on track to bother us to be 10 trill
Im going to encourage everybody to sit down, grab their seats. Keep eating. Okay. Welcome, everybody. Im maya mcginnis, i run the committee for a responsible federal budget and it is not every day that you see an overflow crowd for a whole event on budget process, so were really excited to have you here. We have a cspan audience, were Live Streaming this, so wonderful to have everybody joining us for what i think is going to be an excellent conference. Im really excited about the people weve gathered here and the ideas we are going to be discussing. So welcome. The committee for responsible federal budget for those of you who do not know is a nonpartisan organization, the board of directors are people who many of whom are here with us today who have run all the big budget institutions in washington, so the federal reserve, the treasury department, omb, cbo, the Budget Committees. So they are the whose who of the budgeting world. One of the things that we like to do is work with folks o
Mr. Thompson if that freshwater doesnt run through and to the ocean the saltwater runs back in. I have two major cities in my district that relies on that for the source of water. If this bill passes, their water supply is in jeopardy. You cant drink salts water. It just doesnt work. California is in the middle of an extreme drought. Its not due to a lack of pumping. Its not because our states water regulations and its not because were putting fish ahead of farms and people. Its because theres no rain and theres no snow. No bill can make it rain but this bill makes a bad situation even worse. Its wrong for california. It wont stop the drought. It wont make it rain but it will kill jobs and it will ruin Drinking Water for millions of californians. The state of california wont support this bill because it ignores 20 years of established science and undermines our extensive efforts to implement equal measures to address longstanding water shortages. Weve been down this road before in cali