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Speak, investors listen for clues and, hopefully, some clarity. But once in a while their remarks can create more questions than answers, and that was evident in the market today. Confusion reigned as Central Bank Officials appeared to walk back the chance of a more sizable Interest Rate cut at the next policy meeting later this month. Hopes for a half a percent cut were fuelled by comments made yesterday by president of the new york fed and they were top of mind again today when the head of the st. Louis fed spoke. All of the confusion though resulted in a down market with the industrial average down 68 points at 27,154. The nasdaq was down 60, the s p slipped by 18 and all of the major averages were lower for the week as well with the nasdaq and the s p turning in their worst performances since may. Steve liesman takes a look at the fed backandforth and whether inves ....
The conversation on facebook and twitter. Host this is washington journal, july 9. Plan toanders and aoc introduce a resolution declaring a Climate Change emergency. Thelution will read emergency is a direct effect of human activities. The move comes one day after Trump Administration highlighted what they say are key successes when it comes to environmental policy, citing air quality, lower Carbon Emissions and cleaning up Hazardous Waste sites. What was said by the president on this issue and you can make comments on the efforts on Environmental Issues by calling the phone lines. 202 7488000 for democrats, 202 7488001 for republicans, 202 7488002 for independents. If you want to post thoughts o ....
This is bill hoagland of the by paulson part of the center to talk to you about the effect of debt on the federal budget in the next many years. Thank you for giving us your time. Glad to be here. Looking out 30 years, what is the potential when it comes to the debt in the United States . The total amount of debt will continue to grow. A lot of factors involved in that. These are all projections that could be off, but generally because of the demographics of the changes in the way we are an aging population and the fact that we pay a lot in terms of medicare and Social Security benefits will continue to grow. As a consequence, along with just paying the interest on accumulating debt itself means we will be looking at the possibility of the debt to what we call the debt to the level of government growing to what it is today which is at a historic high, around 78 of gdp, well o ....
Would think about what we are doing with our military . Soldiers want to serve in the military, et cetera. Guest first of all, in terms of our federal spending for national security, which is part of the constitution and thatction of our country, is probably about 15 , 12 to 15 of total spending. The total number of entitlements , in terms of Social Security, medicare, medicaid and paying the interest on public debt that has to be paid, we are talking about 70 . Theres a difference here. You could reduce defense spending. Its not something popular right now. The president has asked for an increase in defense spending as well as there seems to be consensus in the congress there should be an increase in defense spending relative to where we are today. Even though the uncertainties. Im not disagreeing with you or suggesting we shouldnt look for finding where there is waste abuse or whatever, unnecessary spending in defense and nonde ....
Of factors involved in that. These are all projections. Generally because of the demographics and the changes in the way we are an aging population in the fact we pay a lot in terms ofs medicare and Social Security benefits will continue to grow. As a consequence along with paying the interest on accumulated debt itself means that we would be looking at the possibility of the debt to what we call debt to level of the government growing from where it is today which is at a historic high around 78 percent of gdp well up into the 100 a 150 percent over the next 30 t 40 years. 144 percent by 2049 or so. Right. Thats historically very high of course. We like to think that will not happen but if it should happen it certainly is something unprecedented in terms of the countrys history. If you had to make a list of the drivers of this debt what would you put on top of the list . I would say in the near term if the entitlement, the spendi ....