wi be spared our advice. we confront major decisions on fiscal policy at an unusual time. one might even say precedented if that word hadn t already been rn out. fiscal policy showed its power with the cares act which prevted the covid-19 pandemic from doing more harm to the economy and welfare americans than it did but the cares act has been spent, millions of people are about to lose emergency benefits unss congress acts and unless congress acts fiscal poly will be a drag on growth leaving with a vaccine on the horizon 11 million people are unemployed by the official count. most economists and those we gathered here today argue more fiscal support is necessary and on capitol hill there arsome signs on course is about to act or thinking about it so our first panel with the peterson institute will focus on the form the near-term fiscal package would take. douglas elmendorf, wendy edelberg and michael strain. a condition that predates the pandemic it will persist once it recei
we ve had in decades. live at 9 p.m. eastern on c-span and c-span.org. listen live on the free c-span radio app. the director of the congressional budget office testified before a house committee on the economic and budget forecast. keith hall was question on wide range of issues relating to economic growth and the government. the hearing rant about two hours. the hearing will come to order. welcome to the committee on the budget hearing on the congressional budget office is budget and outlook. i want to thank everyone for being here this morning. we are holding the to discuss the congressional budget offices budget and economic outlook, which gives us a 10 year projection of our spending, national debt, and how the economy is going to perform over the next decade. the report forms the cornerstone of the work we do here at the house budget committee, and i want to thank everyone at cbo for all their hard work in producing this report. i d also like to welcome cbo director
.. a new mazda motion of the dynamic rotational dynamics, a few basic things, they can act together and fascinating ways that build complexes and good for the third frontier in physics, the game we don t talk about and not this is middle frontier here, this complexity. it s generally not the republican. it s all quite messy, but it s real and this is where we live. and that s why it s important. i think they should get a lot more attention because this is what is running the world. sustained physical flaws. this is an example of some of the things around in everyday life, differently our current research topics. here are some pictures. i don t know if this thing is called. it is a new drizzle honey from if you re into that type of thing. i have a friend when i was a phd student at cambridge. spent her entire phd studying basically the drizzling process of honey. start started atop the not so bright and the dems at the bottom in a puddle appeared but what happen
they need them to win. it s very difficult if you re a sitting, elected official to now criticize the incumbent president of the united states of your own party. and what i think you have an opportunity to see coming up in 2018 is there are ten states that there are incumbent democrat u.s. senators who are sitting there in states that donald trump won for president. and that gives republicans running in those places a great opportunity to tie to the trump agenda moving forward. but in states like ohio where there has been, you know, more than a public discourse between the president and governor kasich who was in the white house, i think, just this week or late last week, look, it s unfortunate, but you have to work together. because at some point the governors are going to need help from the federal government, and you want to have the best relationship possible for your constituents. you mentioned 2018, but in 2020, do y
[inaudible conversations] well, we re going to move straight on. i m very, very pleased to introduce our panel on discalling [inaudible] you know, sometimes when you re organizing a nabe conference and panel, it s like bringing friends together. and this is one case like that. we have real friends of nawe on the dais today. i won t belabor their introductions, but we re very pleased to have doug elmendorf with us today, isas all of you know, past director of the cbo. he s been in front of us many times, we always find his views and positions extremely enlightening. it s wonderful to have doug is us. and it s also good to have glenn hubbard with us who is dean of, dean of the russell sorry, dean and russell carlson professor of finance and economics at the columbia business school and is the past, past chair of the cea under george w. bush. and finally, we have our moderator, michael peterson, president and coo of peterson foundation. michael oversees strategy for the fo