responsible completely. welcome to fox fox news live, i m eric shawn. hey, arthel. arthel: hello, everyone, i m arthel neville. new questions today about what led to this e epic collapse. in 48 hours, the go-to bank for tech start-ups and small businesses went belly up. the fdic, which insures bank deposits up to $250,000, says customers will have access to their money by tomorrow morning. here s secretary yellen earlier today. what i do want to do is emphasize that the american banking system is really safe and well capitalized. it s resilient. during the financial crisis, there were investors and owners of systemic large banks that were bailed out. we re not going to do that again. eric: well, is this going to cause a meltdown the on wall street and elsewhere? nate foy is here following other breaking news. reporter: in her remarks this morning, secretary yellen kid the not say how regulators plan to help depositors, only that they will. and she assured that the u.s.
Another system is set to move into california early next week. back to you. eric: wow. that hail can do a lot of damage. max, thank you. arthel? arthel: well, eric, backlash after president biden released his massive i budget proposal thursday. it calls for $5 trillion in tax hikes over the next 10 years, that s a jump from his previous proposal of about $2 are rl. republican critics say the plan will be, quote, devastating for if all americans. lucas tomlinson s live at the white house. so, lucas, is the biden budget full of bad apples, or is there something good for the economy in there? reporter: it depends on who you ask, arthel. one of those critics is senator john kennedy of louisiana. he says that president biden s not being honest when he says that his budget keeps medicare and social security solvent. senator kennedy the says the president s not being honest and gave the following suggestion: the only way i know how to improve the president s budget is with a shredder.