Rains as well. Coming up ill let you know how long these storms will linger into the evening and i have news of a bigger cool down coming for tomorrow. Ill be back in just a few minutes. Sounds good dave. Developing tonight. The train to the airport is stopped in its track for the second day in a row. Electric power issues have passengers taking a detour by bus. This outage has now passed seven hours. Thats certainly delaying passengers getting to and from the dia. The problem is with the r line between the 61st and pena station and the terminal at dia. Rick sellinger at that station. Any progress yet . Im afraid not. The trains here are as far as they go at the moment. The passengers get off the train and then they have to get on buses to complete their journey. That may not sound like a big deal. But those that have to go to dia daily, it can be a major inconvenience for them. Their living at d. I. A. The train was supposed to be a godsend. Was it . A line has being nothing but a nig
Road either . Two things to understand. First of all, the Social Security trust fund is nothing but ious no real assets there. All this talk about whether it runs out in 2034 or 2033 is irrelevant. The government can only cash the ious by taxing us more. Heres the bigger problem that i have. What Elizabeth Warren is trying to encourage Hillary Clinton to do. We are running deficits in the Social Security program, and as more and more baby boomers retire, the deficits get larger and as a matter of fact if you look over the next 75 year, you take all the deficits adjust them for inflation youre talking about 40 trillion dollars of red ink. So the notion that we should already in a deep hole dig the hole deeper is crazy. But every time anybody gets honest and says im sorry but the promises that have been made to you, theres no way the smath going to work where they can be kept. And the problem is they will break the promises when you and i are little old men, and we wont be able to do any
Road either . Two things to understand. First of all, the Social Security trust fund is nothing but ious no real assets there. All this talk about whether it runs out in 2034 or 2033 is irrelevant. The government can only cash the ious by taxing us more. Heres the bigger problem that i have. What Elizabeth Warren is trying to encourage Hillary Clinton to do. We are running deficits in the Social Security program, and as more and more baby boomers retire, the deficits get larger and as a matter of fact if you look over the next 75 year, you take all the deficits adjust them for inflation youre talking about 40 trillion dollars of red ink. So the notion that we should already in a deep hole dig the hole deeper is crazy. But every time anybody gets honest and says im sorry but the promises that have been made to you, theres no way the smath going to work where they can be kept. And the problem is they will break the promises when you and i are little old men, and we wont be able to do any
Road either . Two things to understand. First of all, the Social Security trust fund is nothing but ious no real assets there. All this talk about whether it runs out in 2034 or 2033 is irrelevant. The government can only cash the ious by taxing us more. Heres the bigger problem that i have. What Elizabeth Warren is trying to encourage Hillary Clinton to do. We are running deficits in the Social Security program, and as more and more baby boomers retire, the deficits get larger and as a matter of fact if you look over the next 75 year, you take all the deficits adjust them for inflation youre talking about 40 trillion dollars of red ink. So the notion that we should already in a deep hole dig the hole deeper is crazy. But every time anybody gets honest and says im sorry but the promises that have been made to you, theres no way the smath going to work where they can be kept. And the problem is they will break the promises when you and i are little old men, and we wont be able to do any
Market to. Economist ben stein on whether they are smart to sit it out. Ben great to see you, thanks for coming in. What do you think of jamie dimons worries . Its an awfully long time prior to the Great Recession that we had a genuine financial crisis. I cant remember a genuine financial crisis in the post war period. There were many genuine financial crises in the hundred years before. That hes the great expert. Hes the head of a very, very, very large bank. The one everyone respects. I dont see where the crisis is coming from. If you see what he said to the stockholders, theres likely to be one and likely to be a giant earthquake that levels los angeles, too. So theres i dont think theres any cause for worry about it whatsoever. David youre making me feel a lot better. Here is the gist of what he was saying, he said basically there are so many rules and regulation right now, we cant sort out all that is doddfrank the financial regs, and whenever you have more regulation it slows up