America's number one motorcycle ensure is ready to ride. They offered coverage for your bike, starting as low as seventy five dollars per year, and they keep things affordable with discounts like paid in full multi policy and responsible driver get a quote today. A progressive dot com to see if you could save progressive casualty insurance company in affiliates premium is for state minimum liability coverage rating discounts not available in all stages situations five months, and we are I'm so excited the beer I have so excessively I more excited than arising beetle juice would learn. Bobo more and more excited than a jets vendor in the first three plays at this he's gotta be kidding me the gotten. My name is Jimmy, been off the air for five months we've been gone so long, we've been gone so long,

bachelor is now a grandfather. It's been a long time since our last late show we looked at the counter today and checking on this. I believe we have been off the air for one hundred and Fifty four indictments look at some of the late night shows which return to tv for the first time in five months. We logic gets you this morning, including a recap of day one and done trumps civil fraud trial in new york city. Part of that is that parliament punishment base will tell you about the money. that seem to enrage. The former president also have Let us uncover mccarthy's speakership battle as far right republican forces, a vote in the house to decide his fate whether he keeps his job as speaker weather.

rugrats will step and bail him out just to keep the government running. That Democrats. Will there are people falling down? What's happened up and we got some with some equipment moving of the equipment, some equipment get ready once that shows the ready. I just it. Nowhere near was running from one set to another lease is here: we're ready, we're ready now a game on ok. Well, I'll, tell you make it. No one can ever ever accused. If I'm late of running, to say no, that's yeah stagger then run stumble or dagger sinatra had on smoking. A cigarette drink, put it down, okay! So it's very nice always nice since the late night guys. It is great that there was a great debate.

Back and I mean Jimmy now, I'm really excited more more as a guy who went to see Beetlejuice before and that's saying something: that's what's nice is he got five months of pent up jokes, so they've been sitting at home! Writing these things that we miss this. We miss this one, so they kind of empty the chamber of amber jokes. He here yesterday and a lot going on in politics, is stephen colbert mentioned several indictments, since they were last on tv, Yet I heard a crowd of all current, certainly interesting. Yesterday I was, I was watching, is You know I do really on the way down to the orphanage I was looking at instagram ray. And I think that's what the kids do family thing like that, of course I got out there. They ve already get get my algorithms down its neck. Saving yelling yelling at the press is we'll pharaoh clubs but its assets,

as an ally clouds, and they were asking data car me HU, the vast just what you ve committed, who the best Person was weakened, update and, of course, Incredible people were weak enough data not foreseen this clip, yet I'm sorry with chevy chace, but my gosh nor mcdonald go down the list and actually said said: dennis smell He does. I understand all the pollack there s all. He said I I was all right with dennis and he said in the back seat and he's got a notepad and we're driving like a couple miles and ages. Their writing. You know where I put you doing as unjust riding jokes and any did did I know, read the jokes and he said they are. They all could have done on any any show anywhere intent, but he get up I've been slightly fabulously, talented actor, who, of course,

don't hear that much from anymore thou self I sofa and so great in that chair. You mentioned nor mcdonald too, with his head writer on weekend, update, Jim downy was on conan podcast this week in its war. If you love comedy, love S, analysis worth listen because he goes through which serve step by step walks through you write those jokes and why norm was so funny and good, but it is. If you go down the less you ain't got, set mire tina and Amy. I mean that has been a crumbling lateness for a very long time. It truly was one of the funniest guys were still it now. I well now two things that are unfairly, and that is our top story. This morning, one of many zone, the longest serving whitehouse chief of staff for donald trump, offering his harsh. Criticism yet of his former boss on Kelly, sentenced meant to say in which he backs up many of the stories were counted recently of prompt lashing out against. You have said

some members and veterans Kelly confirms trunk didn't want wounded veterans and a military parade planned for independence day, because it quote, doesn't look good for me. I donald trump saying that Kelly also says from quote rance that our most precious heroes who gave their lives in america to fence are losers, and wouldn't this their graves in france. Kelly then appear to comment on trumps, most recent attack on general mark milly, in which the My president's suggests he be punished by death. Keller describes tromp as a quote person who cavalierly suggests that a selfless warrior, who has served us country for forty years in peace time in war louis. His life for treason in expectation that someone will

jackson, expectation that someone will take that action for him down like Joe ray sacra, but somebody like you that someone will kill. General said he says it in expectation. that someone will kill milly for him, so the statement with Kelly, saying tromp is a quote person that has nothing but contempt for our democratic institutions. our constitution and the rule of law. There is nothing more that can be said. God help us Kelly served as chief of staff from two thousand and seventeen to two thousand and nineteen. He has criticized trump before, but this statement marks the first time. These comments have been confirmed by Kelly, who was present at the time. They were may well worth. The chief of staff is right in there and sees every thing all day. Every day

and gets a real firm sense of a situation, which is why that expectation line is chilling and something we believe to be true and makes the support. Trump out there all the more concern. It's obvious. I mean it's obvious. What donald trump wants people to do when he talks about they said they should be killed, they should be executed. They should be this. They should be that. I don't think it's obvious to everyone. It is. It is obvious that that's what donald trump wants to do, I'm glad I'm glad the general said it. But yet you you you these digits horrific statements welly there is The questions before when they first won the atlantic. I believe in early two thousand and twenty or maybe twenty nineteen who that who, who we're about was John Kelly. Alot of people thought it was about who sat in rolling out is as important is what was said by donald trump, and it goes all the way back John Mccain, obviously calling John Mccain a loser for being appeal: w sacrifice for his band of brothers who refused to leave vietnam, even though

could out, because his father was connected and just think about that data. rob use his uses. His connections David doctor, about bone. Spurs John Mccain uses his connections to stay in Hanoi, beaten and tortured so badly that he can't even raise his arms above it orders for the rest of our lives, because you refuses to go home before everybody else. That came in with him in that, prison cell in vietnam So I do of course he's it. or maybe one of my sacred places and he's not wanting to visit now. It's Maybe he doesn't want to get out. He doesn't want to visit. the markers, the tombs of us, soldiers and sailors and airmen and marine who died because well they died we consider them losers and at one point it turns the general kelly. You lost assign. Why would anybody do this? Why would any? Why would anybody.

Why would anybody sacrifice their life for this country? What's this is our answer? Wonder YAP? What's what's in it for them again, this is just one more example, one more example of these people who once claim be the most righteous who claim to be the most patriotic who claim, be the most support of the military lining up a man who is the antithesis of everything that they grew up. Believing was right, but now they bind him in this personality cult yeah that a moment that you references such an important one- that was back in July of two thousand fifteen important because it gave us a sign of what was coming, which is to say he did something on thinkable, especially within the republican party trashing John Mccain, specifically heroism and war, and his support went up, that moment we talked about it here and we talk to our private. We said something different is

happening here and to your point, these are the men and women that we hold most sacred in this country and, as you say, republicans always have defended military, and we present this to trump supporters. How can you defend they'll, say whelp it was. The media provident say that an open our have general kelly, jonathan mere on the rendering in that state. To see an everything you he read in those atlantic pieces to them. That's true, I was there. things happen? He did trash war heroes, he trash the military dead. He didn't, stand why they would sacrifice what was in it for them a fundamental misunderstanding of the military, fundamental misunderstanding of patriotism, and yet you can expect that internally, in a Republican, or at least among his supporters, slept no impact on the way they view donald trump. Now Kelly has been known to cooperate on background with journalist for some time, but it is noteworthy that he decided this a moment to put his name to it. We know that he has

I'm success as chief of staff keeping trump in line for a matter of months in the neck quickly went away. It was indeed the battle there's a foundational. Marine corps Bela would in france that that, basically, is me marine, that's where they they began. their origin story and donald trump was dismissive and refuse. To go to the funeral that day, because it was raining wanna get his hair messed up in that kelly has told people was sort of ass draw for him when he realized what sort of person donald trump really was will thus make any difference. I highly doubt it others work for dollar traveller nash agree establishment. Spoken out against him. Journalists, jamming master John bold the list goes on and off, they have all forcefully condemned trumps. Leadership is patriotism and his being is character. We know what rex tillerson and thought of him as well. We can't say on family friendly television, however, but none of that has led to a drop in support of all the

should all take in the least. This idea that these two people who worked with our top, day after day, in the most sensitive important moments of his presidency, they're, the ones knew him best and much like me, The janeway six trials, much like we're starting to see now these criminal proceedings, those who spent the most I'm a chopper saying he is unfit to hold office. Again. as you know, and John Kelly always seem to have somewhat of a paying public posture when he would be out in public with dixon John Kelly himself had a pretty bad episode when it was slain, been of the widow. It was lord David, John, in the chair and define started when tromp was. This was just too in my mind. Absolute worst episode when he was picking on the widow, her husband had died. You know a week earlier that was that it was just so this is what trump thinks of our military. He care so little for the loved ones of Gozo,

in battle that he'd literally will bull little them in the aftermath of that loss, and so this is nothing new. We know the level of respect the trump pass for base really any one, but himself we see it, we see the contempt in which he holds. Those choose to volunteer for service for their country, and so this is this tells us nothing new it, just as it reminds us of the man's fundamental character, you think, willie that, if this continues taken together. I do think general kelly. Who serve this country proudly and ably for so long who lost his son sacra, he's just sign for this country, general kelly general madness. Another war hero, another man that trumpet so thrilled the have come before in general. master. I do think if

These generals do come out and do speak out and do speak out public on camera and do have it make a concerted effort between now and next year to talk about just how unfair donald trump is the one for for office in and to be present the united states can be commander in chief again, I do think trump's generals, so to speak, the people we were talking about back in january, twenty seventeen trumps generals all coming out. deming him for all the horrific things he said about our men and women in uniform in this country. I do We believe that is one thing that could have an impact with called with people sharing and laughing about nancy policies, spouse getting his head bastion, no, no, but with reset are going to actually decide this election in the suburbs of

plan in the suburbs of fully the suburbs of the troika and the an end in sight, herbs of Milwaukee, and we may well hear more now from general milley. He was somewhat restrained as the chairman of the joint chiefs of staff, but he may be able to come out and say more, except for that. Sixty its interview last week as well, and show for people like us who revere the people have served this country and who try to lift up injured members of the military and help them the comments recently in Jeffrey Goldberg, atlantic peace were particularly abhorrent where he general milly, that, after and a warrior who has lost his leg doing I e the attack in afghan. stan, suffered heart attacks and strokes, because if it had been through hell, sank bless america that donald trump pull milly assigns had. Nobody wants to see that speaking of injured warriors of veterans, don't let have one again

defend that. How does that sit with you you're willing to excuse a lot of things about donald trump? We get that over the last eight years or so, but that attacking wounded warrior. How do you defend that? Well, I'm! When will you see this first hand and all the work that you do these these men and women are best of who we are the best who gone over to tat to defend this country, who, like bob dull, left apart of themselves in bad alike. Bob dull, donald trump nikobob dollar loser. They, I'm back with with with injuries, they stay together. They keep fighting, I do fight a new cars. You see that every day the these are. These are our heroes. They are

It stays with him for the rest of their life, and it's a reminder that donald trump is all about the superficial. How does it look he's creating a place putting on a tv show and if it doesn't look just the way he wants it to Then the people who are ruining it for him in his eyes are disposable, including hero military veterans, or I speaking of how it looks. Donald trump was in court yesterday for day one of a massive fraud trial against him he's back in court today, in one minute, just exactly sixty seconds we're gonna talk, at the moment yesterday that enraged him and what is next will be right. Back the united nations refugee agency response to emergencies and provides a long term solutions for refugees in places like ukraine, syria, Afghanistan, suit Anne and many more every day, displaced families struggle to meet basic needs.

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Is it planned parenthood, dot org, slash future to make your donation welcome back at eighteen pass the hour? Donald trump is expected to be back in a court this morning for day two of his civil fraud trial in new york city yesterday, the punishment face began after John our answer and goran last week found trump two older sands and his company liable for fraud. The former president sat with his arms crossed as his defeat tat man, prosecutors against giving borders being in somebody courts. Now This morning, you guys warrant actually has hit em, where it hurts, gives its about errs on being put in charge of this company's they're, going to figure out whether or not they need to be resolved. Every thing that this guy is made up by, I would say he built, but he actually pay

bleak inherited the equivalent of a billion dollars from his dad heard in terms of today's dollars, but four hundred million there also understood that guy or prosecuted from the new york attorney general's office, gave their opening statements said in just a few feet away. Him was the attorney general herself Latisha James leer de tromp, walk I'm were briefly allowed inside the court room. This was quite a scene. I dont think everybody expected this cameras to be in their an attorney for drum complain. The former president did want a jury to hear that case, but the judge noted that his team had never. asked for ensuring trial. After opening statements. Prosecutors played taped depositions from trump his sons, his former attorney michael column, and is companies, former chief financial officer, alan by Solberg, then they called their first witness

our accounting to spend several years handling the former presidents tax returns according to Our team inside the courtroom trump seem too a key issue with some of what was being said during the testimony and became extremely animated with his lawyers. His face is said to have become bait red while he pointed and fair, no waved at his lawyers. For the most part, though trump appeared subdue during the trial outside the courtroom, though he was anything, but here is some of what he said to reporters during a lunch break. Will you attorney general. grace, the team president we're going to take him down. This is called election interference and, worse than that, really much worse than that

I get much worse than election interference. Call last week, salary large part of the day We must monitor the case he's a democrat operative, That's really really. I think I wasn't in that part of my law, school glass on judged trials, Where does told you if it's any trial and the judge determining your future. That is it's free to insult town and call him a loser and an attack him again it makes no sense, as as as we were, watching for dangerous fifteen seconds. Yesterday's Donald trump was saying that this guy-

I could be arrested should be arrested, there's! There's the threat, there's intimidation! If I get elected press I'm going to arrest. You is what donald trump saying there, but without any other defendant america in this position. Well, that's all and found guilty of fraud. The evidence is there. clear against india, yet over exaggerating and everybody new york had known for decades it. This is what do you do you actually have somebody get on the stand and apologizing made mistakes like this. I did that I am so sorry, your honor go. I'm gonna straightened this up. We're gonna put system place to take care of it oh ourselves, on the mercy of the court. As you know, we're not going to do this again. We're gonna, where we're going make sure that anything that we file is with with woods Tax authorities in new york state and with banks is going to be

correct- and I know we fell far short of the mark, but data video the judge saying our right, this is a problem, will put your cup on probation. However, however, they do it, but instead you have donald Who's been caught. This is a bank robber has been caught. Are these the congress and auditors implies ida and am scam with money in his pockets, like jammed, endures It's looking like the michelin man because he has so much money jammed into his coat pockets, yelling and screaming about unfairly being prosecuted he's already boss did like he's or even caught why these are hurting cod saying that he had a thirty thousands where foot residents when is like thousand square feet? claiming that he had the most expensive.

Property in all of new york side I see now was a lie is well and what's he doing, these doing the exact opposite of what he should be doing. He's he's continuing to drive, is car off with and leave his lawyers and when position and then It's over, I know probably call for execution of the jobs. Are you call for the execution general milly, it's a it is. It is a a zero sum game and its again, he loses every time and, as you say, the facts and evidence or stacked against them. So now he has to play that outside game where he goes outside the quorum attacks. The judge attacks the prosecutors. In this case and by the way you can expect to see that same speech just queue up every time. It comes out of one of these other courtrooms attack. The judge attack the process that there's a witch hunt. some some pretty extraordinary pictures on. further the newspapers here in new york this morning. What second add for the apprentice or something that face wall street journal

a very similar photograph to flout the tantrum outside the court. Room is to pass off, sir standby. Let's bring a blue legal and politics reported Eric Larsson. He was in the court overflow room yesterday covering trumps fraud, trial and professor of law, colombia, John c the junior he's an expert on securities law and white collar crime and offer the boat corporate crime in punishment. The crisis of under enforcement one or two, both Eric I'll start with you, so you're in the overflow room, getting a sense of how things are playing out in the courtroom. How does this look right now for donald trump, I think the fact that he showed up actually it's a position of I threw him which is kind of interesting it I'll think anyone was actually expecting him to show up until just kind of the last minute, and now we come to see why he was What are do a lot of that grandstanding? Give that big speech outside of the courtroom every time. There was a break in the trial. He was viciously attacking the judge and the attorney general. So this is help seven,

of his campaign, to be honest, like, as you said, he's already been found liable for fraud so that cases kind of via in industry its favour pretty strongly, and the judge clearly has accepted a lot of what the state has to say. So what kind of defeat Answer you hearing from his legal team other than Laetitia James is biased and the judge is a Democrat. Is there anything on the evidence where they're defending themselves? Yes, they're, focusing a lot on whether or not any banks were actually harmed by this alleged conduct? You know they're looking at these inflated financial statements wildly inflated, according to the judge, from two thousand and eleven to twenty twenty one and saying that these submitted to various banks, deutsche bank others, and to ensure is to get better terms on loans and policies for years and that he ripped to fifty million dollars and illegal financial benefits as a result, but he says that these banks, we're not harmed at all. He paid back all these loans they actually made. a million dollars and interests off of him. There. Both sides are calling

bank employees as witnesses because they both think that they'll be able to back up what they say and at the end of the day, even though it has been found liable for fraud before the trial. There are others. We can claims, including falsified business records things like that, which the judge theoretically could still rule in his favour on chat, roulette, what set aside trumps hysterics outside the court room and talk about the merits of the case being tried with in it, would You heard so far from both the estate in general, as well as trumps defence team, and how strong do these claims are. We always been far liable for how much he supported the church was appointed. receivers who still have to be named? Who is both to liquidate all these companies within trumps organizations. To one thing, think you're missing. Is that picture and silly is trump seems he's pro

we've being rational from his own perspective, because he wants to exploit this trial is inopportune to show again that he is the victim of political persecution, did his main theme actually raised his popularity in the republican primaries, so he's figured out I'm gonna go to this trial. He almost never has gone to civil trials. Please do it because This is a way to raise his theme that there's a securing going on and you should raise an arms and support me because we are being attacked by the evil government. So Eric explain if you could, what exactly has been decided and what still has to be decided in this case and how long the punishment phase of what has been decided could take rule the georgia so the trial is going to go until december twenty seconds, so

We can expect a lot of evidence on whether or not these six remaining claims trop is liable for whether or not he conspired to falsify these bits it's records whether or not they were used in specific transactions in a way that harms these banks and then insurance fraud is another claim in there as well. But then there will have to be more arguments on whether or not the full two hundred and fifty million dollars has to be disgorged whether or not trump and his two sons who are also defendants would be banned? from being directors are officers of any new york based company. and, as the president said, you know, there's this whole other aspect that has to be cited outside the trial on this fraud claim that's already against trump. We really don't how far that is going to go, what? If the full outcome will be? Even trump's lawyers don't know, and the judge hasn't really clarified what it means that all of these companies are going to have to be dissolved once this receiver is put in place.

but right now there are five more claims that the judge has to decide on liability for and then based on those he'll go into the penalty phase. So Professor, I spent the day listening to commentators who can't seem to get over. There feel cheated donald trump, and one of the arguments they made was that on my gas, this attorney. This is some political. If this attorney general can do this to trumps business, he can do it. We're business too. I'm curious could put into context these. our delegations that he's a cop dove and some he's been found liable for how do they compare? or to other white collar crimes in their severity and their size. We have to understand The attorney general is operating under a unique statute throughout the world. is her and no one else, not private plaintiffs, to dismantle to liquidity

a company that is engaged and persistent fraud. She does not have to prove that anyway, the damage damaged. She only has to prove this company is persistently defrauded. People in this a buyer inflating its assets and because you are persistent fraud, work, throw you out of new york state. That was. Ten of the legislature, but this is a statute, implies only The attorney general brings the case. I'm curious from what you have seen. Do you believe the trump organization has been? Is it likely that they have been engaged in quote persistent fraud. Why The inflation of assets has been shown. He granted summary judgment. There was lots of evidence referred the stories about calling a eleven thousand foot apartment of thirty thousand foot apartment so that you could get a higher valuation on it. They are reading rank control buildings as if they were the same as non rent control, buildings and so on

play played assets, the evidence there was pretty strong, busy granted summary judgment, and these inexperienced judge you dont, grant summary judgment, unless we believe there is no fact in this case that really has to be free. their resolve. It is also clear all this they left now is the penalty and, and that sounds certainly make it through the years. persistent fraud, professor at law at columbia, John c, coffee, junior and bloomberg Eric Larsen. Thank you both very much for you. Putting an analysis this morning and coming up on morning, Joe congress manage to avoid a government shut down with a short term funding bill, but washington. budget woes are far from over lots of drama on capital hail the steep ratner asea with china, to break down all the numbers to myself. Mushroom, yes, Yes, that you just was we built it with the morning job

when people are real experience it comes from seven years of operating a moving company, one of the most stressful industries in the world. So we were, it was her transition from that into something find something that most people love. If you don't love pizza I don't know. If I can trust we were able to go from a very intense stressful industry into something that We felt like feet more who we are, and that's the hospitality and america number one motorcycle ensure, is ready to ride. They offered coverage for your bike, starting as low as seventy five dollars per year, and they keep things affordable with discounts like paid in full multi policy and responsible driver get a quote today: a progressive dot com to see if you could save progressive casualty insurance company in affiliates

premium is for state minimum liability coverage rating discounts not available in all stages situations Why, yeah I know why some are willing, when our kids asked us if we could go to the grand canyon, I think not answer this, and what did we say? We said now we have some work to do with electrons right we had we had some, we had to work with electrons. It's happened again, make up what's going on, What are you what's? Goin on getting the earth everywhere has been stolen by a couple of friends the nuclear, the nobel prize, yeah and read them a nobel prize for the electron work really fifty over fifty list or one that you and I have been working on for years now like what is this and how long how long choosing the song welling its theft? It's just

scientific that we started to see rubbing the to rob together in nigeria? general sigh aspiring to say we pioneer that work with electrons and know somebody else's gets a where the metal, the nobel metals and mental retorted, the metal rigorously Well, yes, right now, we we want now Well because he's still an our metal trophy whatever it is life, so I quoted due to which reminds me, because this sort of our fault mary the stream of consciousness segment here we're about going to the south? well. What with ratner, have you heard and have you seen any she's wearily. What yes, who is doing you have a yes said, poor mental thing, it's rough, taking its mind, blowing, even even looking at it on ons on screens, but people go there say it. You can't cash That is like a one of a kind experience here. The sphere in vegas, new building the outside and the inside are just a giant ellie.

Screen and and new to started this residency out there that's gonna arising through december and the pit there's coming out of the weekend when they open for people who were there on instagram. Another piece are truly breathtaking: it's like nothing! You ve ever seen before, where you're sort of surrounded by the experience and the video wall, while by the way you too is playing right down there. For me, I think we have to. A break from the lab, show just one just for a moment. go see that job, So we must look for a way of our work on electrons, because it is only because you need nobel prize joke. I'm gonna say something a value so cattle, greek. I was on our first fifty ever less and she won the nobel prize and physiology or medicine to her and drew weissmann for their discoveries that a name and more than a vaccine against the jury that saving the world will inevitably ever lived in, wouldn't ever ten years she was.

I guess she was researching this and pin didn't give her tenure shouldn't brian enough funding to fund her research and they put her out in your tracking and get it now today. Study. Has she my more on this of anger. You so much ali, maybe maybe They found the pathway forded pen for her. So listen. Alot of people when they looked at will my electron work, they said. That's you! We call this just the eighth wonder the world. Now I'm hearing people say that you too, like this orbital, eighth wonder the world, but I will tell you the original, I wonder, of the world the south west wall or thirty rock, that came up with this concept. What year did we come up with this concept? Really just after the war? Forty seven, I think forty seven. I think it was a couple of kids couple of crazy kids coming back. We were, we were so swept up into the excitement of the

today all everybody and yet nobody wishes me by every bodies in their fair. We should do that inside the building over there and that's it was one and steve ratner of course, has been what smaller over a fit of a century and stay ratner so glad to have you here, Kids of now would give them time to wake up before women. Get to the charts? I want to ask you about this deal. It's a short term deal on cap to Hell, to govern opening the continuing resolution. They kicked. The cat down the road talk about how much work there still is ahead. long winter shares and numbers it'll show how much work there is ahead. They accomplish nothing. they simply, as you say, kick the can down the road and so they're gonna have forty five days in which to you two things, one figure out where they want Kevin recrossing, disobeyed, the speaker anymore. Not there is this motion to vacate that mac gets file, and that is

conseil consume an enormous amount of time and effort we've better resolve unbelievable differences, which are ganem, would assure you in just a second between the two sides rule about how much we should be spending. Why don't you start with how much the house and this plans clash in how difficult it is going to do actually period synthesize those two plants so. You remember that back in the spring, when one we almost defaulted on our debt, there was an agreed. between the white house and the Republicans asked Expanding would look like that is coming and it's what we're talking. We talk about spending which argued that non defence, discretionary meaning we don't talk about so security medicare, a lot of the lot of parts budget and will show you that in the second we talk about things like the transportation armor housing department so forth so out of that full of money, the deal between and the republicans back in the spring was to make it who billion dollar reductio respect two billion dollars less in the fiscal

I just started over this past week and then we spent in the premium fiscal year, the senate, publicans and democrats or bipartisan. They agreed on increasing spending by four billion. They put some money back for a few things that they thought or important mccarthy came up with a bill that he hoped would pass that involves sixty billion dollars of spending the hard right, the math The group, whatever you want to call them, show that bill. He came with a continued resolution that would involve putting a hundred ninety six billion dollars of spending. They rejected that well, and that is where we are now, but let me put those numbers in perspective for you as a of our economy. Obviously, The original two deals that we talked about. Various effect on are not on the economy, but on our spending. The mccarthy bill would have, spending in this category by nine percent, the house

continue. Resolution would have cut spending in this. Category by a full thirty percent and showing a bit what some of those implications are this day, let's move over your second chart about where the money is coming from the proposed bill here was two billion dollars of proposed cuts. Massive reductions in discretionary funding. The mandatory funding is obviously the biggest part of the budget. So what are they going after? Because they can't touch that right, because can't such that. Let me just show you how small apartment is so you, here. At this hour, an offence, discretionary. Only fourteen percent of the budget defence, she theoretically can cut, but nobody wants to twelve percent of the budget, but all the so the this stuff, social security medicare. Other kinds of to people who are who are suffering and then bunch of other stuff and then interest on the debt. Of course we can cut and therefore they over this tiny little sliver? Ukraine aid, which is

a more symbolic than subsidy, obviously show you cutting out of this little piece of the budget, and so will the cocksucker of that or something like tat but one education. Seventy represent caught whim in france shows us a form of countries like spain stamps seventy percent cut affordable. How sixty six percent cut and so on and so forth. The labour relations for thirty three percent cut water quality. Fifty five percent cut, so Math is almost impossible. How do you? How do you reconcile this is the smaller of the two? This is the sixty the sixty dollar one. Imagine if you try to do the hundred nine six billion dollar one wish they haven't even laid out the specifics of so this would really got, and this but they're trying to do. Of course, this will got many functions of the government that so many americans depend not yeah we're talkin. Things like grants for low income, schools, water quality, etc? So, let's look at that third chart steve. How does the day?

in deficit play into this. As we have said many times, the last administration under donald trump for years, added nearly eight trillion dollars to the debt. What is it now, and how does it affect this conversation shall look? We do have a deficit and debt problem That much of this is legitimate and fair. Our debt, our deficit, this, fiscal year was two trillion dollars and the federal government is: can we trillion dollars again this year, you can see here you deaf which is this whole space in here, and so what happened? Basically: weak the revenue share of the governor of the size, economy roughly flat, we did cut a bunch attack, as you can see the bush of george w bush tax cuts. You can see that from tax cuts, so we down our revenues. But meanwhile our spending was exploding, and so we end up with two dollar deficits, and that, of course, turns to debt. We have three three trillion dollars of debt at the moment in this country unless your show, where they came from all

where, from seventeen seventy six until bush took office in two thousand and one we acumen and that includes fighting wars. More war, too five point: seven trillion dollars of debt and they can see every president since then has added a huge amount of debt trump, as you just said, willie seven point: eight trillion dollars of debt in one term, far less than, for example, Barack obama across the truth, farms as a proportion and by so far four point six trillion, so you These are. These are just unsustainable amounts of debt. There were adding, but you can't really do it. How do you all that other stuff, it's just too much- is too much deficit. Relative to what you have available in those discretionary programmes were Instead, that's always been the problem. It's all right when the problem- and it ended something that we dealt with going all the way back. nineteen? Eighty five one we're talking about balancing the budget people

we will take from foreign aid will take from food stamps will take from this were now now it's it's social security, they care kate defence spending. Now wars are a hell of a lot more than what we had to worry about in the nineties, who we're trying to balance the budget interest on the debt and the mass of tax cuts to the richest americans. A trump gave us a couple years ago. And so so we yet are we for twenty years now president's try to do everything all at once, not only that they said call guns will take. All butter will also continue to cut taxes for the richest of americans, which of course, is sound. the inverted our taxes in such a way that new look it yeah billion,

There's a yo yo, look, you look at it at the richest americans them much better tax treatment, working class americans are small business owners are entrepreneurs who are just starting up we're paying some. So a lot of workers in states like new york, connecticut, new jersey, illinois, california, paying fifty fifty one. Fifty two, fifty three fifty four percent of dollar that they make to taxes, whereas you go people wall street paint fifteen. Sixteen, seventeen percent, these brilliant there's it's just Jim sanity and so talk about how we're not not going to balance the budget. With these yahoo saying, oh cut, food stamps cut foreign aid, it's just a small small proportion of our budget yeah, We have a two trillion dollar deficit and all that other stuff over there,

up to less than two hundred billion dollars and it would be completely completely and utterly got the fairy government in terms of what it does? So, yes, we're not gonna, even even close to balancing the budget. You know Joe if you set a riot conundrum, is we ve got all stuff that nobody feels we can cut and we can debate. Maybe we should be doing something in here, but but now. These are untouchable. Even donald trump says drug touchable. So this little sliver, you're, dealing with and spending has been going up by a rapid rate. Since, as you point out, we ve been party and cutting tax tax fraud No tax revenues have not been going up as a share of the economy, and you gotta do something you ve got a deal of taxes, and I agree with you about where the money should come from. There are a lot of rich people, not paying their fair share or you ve got a deal making some changes in here otherwise you're, never going to get this deficit down to anything that looks like a balanced budget, let alone something that actually is a balanced budget.

You know. I know it sounds radical, but a fifth crater could look at this and say well. It seems to me that you gotta make inside your revenue line matches your spending lie. That's all you have to do so, do you want jack do want. Engine taxes at that much. I think that would be bad for the economy. Do you want to cut, pending that much now. I think that when that would cause a lot of pain, pain in a lot of ways. We ve got to figure out a way to have those two numbers come together. That's gonna take leadership and yeah gonna mean cutting taxes are raising taxes for some of them. which is the americans to move added pudding, double run over the past twenty years, have to raise their taxes, so they pay This same share this percentage that their clerical staff pay that that small business saunders pay it's just not fair and albania, we gotta figure out

where we're going to save money, those numbers have to come together and at the same time and again I said during the tromp years we can push this off any longer and see by now you and we're saying this during the obama ears to hear me your part of the north, zation. We ve been saying this for a long time. It's just. Why am I going on right now going on right now, because the problem just keeps getting more difficult to fix and if we don't fix it very soon. It's gonna become on fixable for the next generation. We have twenty seven trillion dollar economy. Rear gdp vats extraordinary for in the world and yet we're carrying around thirty two Thirty three trillion dollars in debt. That doesn't add up long does it state

no and by the way, our debt to gdp ratio, our debt inhalation size of our economy is higher than almost every other country. You know france, germany. Now you pick up on the uk, we have more debt. We yeah joe you're right, I mean ve got to do something here what's injure see. Is that no? He cares anymore. Now here too. A trillion dollars used to be a lot of money, but yet we just this one from one fiscal year of two trillion deficit. The next one of two trillion deficit don't hear anybody saying anything about it, not Nobody cares anymore that always on the Republicans cares when there's a Democrat and the wider picture only turn again. We hear that we want to carry out this non, stop report, again. When tromp was in office, have they went along for the ride they spend spend spend they? I said this The obama administration, though we time republicans care is when there's a democratic, the white house and sure enough republican gets in the white house for four years and they spend The same thing: money snowing nervously, spain, new money, verily

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