[inaudible conversations] welcome. Committee will come to order. Committee on the Budget Hearing today on the congressional budget offices budget and Economic Outlook will commence. Well hear testimony from director swagel through the congressional budget office. Welcome. Without like to yield myself such time as a may consume. We are talking about fisa mac this week, which is an issue of National Security. And want to quote admiral mullen, at a hearing defense hearing where when asked what the biggest threat to nationals could do was come his response was the biggest threat to National Security is our National Debt. Jerome powell the fed chairman who probably is loath to opine on fiscal policy in the 60 minutes interview said the National Debt, our fiscal path, is completely unsustainable, and its an urgent matter that we must address. I think thats significant. Thats some backdrop to the budget baseline update on february. Was recently in may of 23 and then this recent update here in
Approval on stopgap spending bill after lawmakers avoided a Government Shutdown reaching an agreement to keep the Government Funding till january 19th, republicans continue to celebrate the largest tax cuts in our history according to some. Vice president mike pence making surprise visit in afghanistan. I know its hard to be away from home especially, but in this season, i want you to know that you are in the hearts to have american people. Dagen details as he thanks heros this Holiday Season. The dow manage to go eke out 55point gain. We have gains across the board. In england overnight, england, france and germany, the end of the trading day. France and germany both lower at the moment. Shanghai reporting slight loss. Changing alphabet. Eric schimt plans to step down as companys chairman next month. We break down the decision thats sending shock wave through Silicon Valley. Crypto crash, bitcoin tumbling 25 in just 24 hours. Think about that. Losing a quarter of its value in a day. S
And less cash in home buying and lender underwriting. Weve talked a lot about some loosening in the market. More adjustable rate loans and even interestonly loans coming back. Freddie mac made some changes when it comes to student low debt as well. That should give branks and nonbank lenders a boost in earnings for the year. We actually have more housing data out today. Mortgage makeses edging up ever so slightly 0. 1 last week but existing home sales, thats where i really want to focus in on because they came in quite strong. Right . Yes, mandy. Were seeing healthier sales in june. Prices, not so much. Sales gained a larger than expected 3. 2 in june for the month, up 9. 6 for the year. Thats the strongest monthly pace in over eight years. But they came at a very high price. The median existing home price hit 236,400. Thats the highest ever. It is due to tight supply up less than half a percentage point from a year ago, just 2. 3 million homes for sale. It is also due to more expensiv
Wrong when one family, the owners of walmart own as much wealth as the bottom 40 of the american people. There is something profoundly wrong when millions of workers are working longer hours for lower wages when we have by far the highest rate of childhood poverty in the industrialized world and almost all new wealth and income goes into the hands of the few. Enough is enough. That has got to end. And together, we will end it. This campaign is sending a profound message to the billionaire class. You cant have it all. You cant get huge tax breaks when children in america go hungry. You cannot continue to send our jobs to china when millions of americans are looking for work. You cannot hide your profits in the Cayman Islands and in other tax havens. When there are massive, unmet needs in this country. The greed of the billionaire class has got to end, and we are going to end it for them. But it is not just income and wealth inequality. It is the fact that we have millions of people work
Solution to the Iranian Nuclear issue. One that will provide the necessary assurances on the exclusively peaceful nature of Irans Nuclear program on the one hand, and the list lifting of sanctions on the other. As such, it represents a significant achievement and a tribute to the merits of patient diplomacy from all sides. It is appropriate that this deal was struck in vienna, where all this began 12 years ago when the International Atomic Energy Agency started to look into possible iranian undeclared nuclear activities. Since then, there have been many months and years of at times difficult negotiations. A key milestone in that process was the interim geneva agreement in 2013, the smooth implementation of which provided necessary time and space for the conflict negotiation process which followed. This resulted in the parameters being set for the final deal. The format was especially effective. We feel that the European Union in particular was able to play a crucial or facilitation rol