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all right, good evening from new york, i m chris hayes. we are watching right now debate wrap up at this hour, as the house gets ready to vote on the crucial debt ceiling deal. that s the speaker of the house speaking right there. earlier today, the republican proposal passed a key procedural vote, but it only passed with the help from democrats. it did not have the votes to pass it on their own, after 29 republicans defected. as of now, the bill is being discussed on the floor. it s expected to pass within the hour, despite that fairly significant republican opposition. this debt ceiling vote has been a crucial task for house republicans. for the moment, they took control in january, the big question was how the maga caucus, the majority of whom, let s remember, voted for trump s coup on january 6th, after the sacking of the capital, how are those folks going to actually govern? empowered with one of the two houses of congress. one half of one third of the federal go ....
moment. she has her own ideas on how to reign in spending as america s debt is exploding. let s just say she s not signing on to what the president put out today. welcome, everybody. i m neil cavuto. we have a busy show for you right now, this is your world. let s go to peter doocy in philadelphia where the president outlined his plans that he says are fair to average americans. and in a way, stick to it the rich. peter? and neil, president biden is back of the napkin math reads like, this cut the deficit $3 trillion by raising taxes on the wealthy and on corporations by about 4.7 trillion over ten years. anybody that thinks our present federal tax system is fair, raise your hand. i m not joking. people making $400,000 a year, do you think it s fair? the president is trying to contrast himself with what he calls maga republicans who he says have no plan to preserve medicare or reduce costs. the house republican leadership responded to this all at once in a state ....
families can t buy baby formula. bill: 40% of brands are out of stock nationwide. one republican lawmaker saying she is hearing from border agents who say their facilities have entire pallets of formula set aside for illegal immigrants crossing the border. these agents themselves have families and they have family members that can t get this baby formula in the stores. in texas and arizona, new mexico. the richest nation in the world and we re scrounging around for baby formula? the formula crisis is just one of many disasters facing biden s administration. americans scrounging for gasoline money as inflation is running at nearly a 40-year high. today the average price hitting yet another all time high, $4.43. bill: crime is another concern. the president will meet with police chiefs and mayors today to talk about it in cities across the country see a staggering rise in homicides. let s go to the white house where peter doocy is reporting live from the north l ....
Hope yes, or if you re a national candidate to say, oh, is a terrible deal, right? because that s where the conservative heartbeat is and that s where the party is. what i find fascinating, chris, is this really pinches kevin mccarthy. someone who already is kind of not believable in his own spin. kind of a caricature of himself, if you will, trying to convince republicans this is the biggest cut in american history. that is garbage and conservatives know that. this will take the dirt from 30 trillion to 48 trillion, but kevin mccarthy is trying to declare it a conservative victory. and it is a hard political loss for kevin mccarthy to joe biden. and so, the presidential candidates know that, the house freedom caucus knows that. most republicans know that. but you have enough republicans in responsible democrats who realize the alternative to voting this down is a full default of the u.s. credit, and that simply is something we cannot endure. tara, here s my theory on the silence of ....
That was through yesterday morning. but you asked me and i have answers. bill hemmer, how big is the cryptomarket? bill: i don t know. dagen: you asked me and it is about $2 trillion with these losses under $2 trillion. the u.s. stock market cap at the end of march was $48 trillion. so it is a pretty small market. ask me anything about the cryptomarket. bill: we were talking about 6:00 this morning, right? it s fallen through the floor. dagen: right. bill: but so far today it looks like it may have found the floor and there was a big investment that came in. you can trade stocks all day long on that. he came in with a big buy today which would appear to give a bit of confidence in the cryptoworld. dagen: you need confidence and faith. this is a crisis of confidence and people lost faith. there is a stable coin supposed to act like a money market fund ....