Congssmanon gonzales ws biden adstns stem expected border surge and what his party is proposing as those pandemic border restrictions known as title 42 will soon be lifted. And as the state by state march to solidify abortion laws continue, South Carolina republican congresswoman nancy shes warning her party to find a middle ground on abortion access. Finally, the annual white house Correspondents Dinner honors americans wrongfully detained overseas. The power of the press in a democracy. Free press is a pillar, maybe the pillar, of free e y,etci notenemy. And of course, some selfdeprecating humor, washington style. After all, believe in theten. Not just because my good friend Jimmy Madison wrote it its all just ahead on face the nation. Good morning. And welcome to face the nation. As we look to a new month, were keeping a close eye on the economy, which continues to be the number one issue of concern for americans. Last weeks news that Economic Growth slowed more than expected in the First Quarter of the year, will almost certainly factor into the federal reserves decisionmaking this week as we prepare for yet another Interest Rate hike to try to curb inflation. Complicating the feds dilemma is the political battle on raising the debt ceiling, fallout from the collapse of Silicon Valley bank, and the looming prospect of a third Government Bank time forniaba republic. Ngressman rkhanna whose district was home to svb. Good morning to you. Good morning. Last time you were here, there were urgent efforts under way to save a bank. Today, again, urgent efforts, this time First Republic. We are hearing it could be seized by the fdic, but there are efforts also to find a buyer to absorb it. What are you hearing . This is what a modern bank run looks like. Let me tell you what companies in my district are saying. Theyre saying that Payroll Companies are telling them move your deposits out of First Republic, you will not have access accounts. Thats why i think its important we guarantee all bank deposters. I said this last time i was on. Theres 8 trillion in uninsured deposits in these banks. 10 trillion is insured. Until we guarantee them we is congress . Congress. Rubi ons, on a pro took pay an some guarantee on these deposits. Otherwise whats going to happen . Regional banks will be insecure and people will be concerned and start to consolidate into the top banks and you have a lot of these Payroll Companies telling these companies to move to the banks. I believe the fdic is doing fine and well now, but weve togot t prevent this from happening again and guarantee these deposits. What youre talking about takes a long time. Were talking immediate sense for First Republic and some progressive democrats have objected to the idea some of the big banks that can afford to buy little ones an systemically important ones, they should be prevented from stepping in to buy up First Republic. That is where you fall . No. I think the fdic needs to look at the lowest cost alternative, thats their mandate, and they may need to work with banks and private capital to save First Republic. That is the state were in. But we can move quickly. Look at the cares act, we said that all deposits were guaranteed for transaction and accounts. I think if we do Something Like that quickly, we prevent this going again. We also need reform. Look at what has happened, margaret. Every time the economy heats up, we say deregulate. It never works out. In 2018, the deregulation basically sent a signal to the fed to stop the oversight on these banks. There was a not that report that i want to get into that just came out, but first off, one of the things blamed was poor management. Gregory becker, you knew, the former ceo of svb, he donated to your campaign as well. He had. When he was at the helm, did you think at the time it was a problem, that he was also on the board of the chief regulator there, sfrthe San Francisco fed . I did not know at the time, but i think now that should not be allowed. No. I didnt have a sense back then that Silicon Valley bank was going to have a challenge. Obviously, there was mismanagement. One reform we should have is that Bank Executives should not be on the board of the fed, regional fed, overseeing them. I think thats a lesson. I also think there needs to be a claw back of his bonus. There needs to be a claw back of executive compensation and far tougher rules on Bank Executives who have failed banks. And yet, the momentum doesnt seem to be will in congress from the democratic leader in the senate or in the republicanled house. Why . Well, there should be momentum for three things, one the claw backs on executives, that could be bipartisan. Two for greater oversight and the rules on these banks. We basically told these banks not to regulate. The big place, and im working on a bipartisan basis, protect the regional banks. Thats going to help Regional Community banks and most main street america. Thats the risk to the economy. You have 5 Interest Rate. People are moving out into money market funds. Theyre moving out of banks. If we dont have a guarantee, we run a real risk across this country. On this in terms of regulation, there were regulations in place. There were 31 supervisory findings, warnings from regulators about svb, when it failed. There were warnings in august, warnings in february. Doesnt that suggest it wasnt lack of regulation, but regulators not acting . Well, it was both. The reason, they flagged and not doing anything. When Congress Passed deregulation, theres not a Straight Line between that and what happened but it sends a signal to the fed that maybe congress doesnt care as much. I think there was lacks oversight. Look, they noticed there was risk there, but they didnt do the right liquidity or stress test. They didnt do a test to see what happens in a high inflation environment when chair powell has been saying over a year hes going to raise rates. You have confidence in chair powell and mary daly at the San Francisco fed . I dont think you can blame chair powell. I dont think you can blame him for this. We need to know what are the concrete reforms . Lets stop having Bank Executives on this boards and make sure you have better liquidity tests and stress tests and the regulations we repealed in 2018 back there and have some statement on guaranteeing Bank Deposits so i dont have to come here every few weeks. With another crisis. A looming one, what to do about the debt ceiling, the fed is predicting a mild recession is head of us. The president has overseen the highest inflation that we have seen in decades in this country, whether he calls it or not hes overseeing it. You have these looming issues and the standoff over the debt ceiling. It is not a sustainable position for the white house to say theyre not going to negotiate with republicans. Is it . Heres what is sustainable, pay your bills. If youre a family, you have credit cards sounds like youre agreeing its not a sustainable position. We should pay the bills and negotiate. Negotiate on deficit reduction. The last person to leave a surplus was bill clinton. Repeal the trump tax cuts, repeal some of the bush tax cuts for the very wealthy and not have all these overseas wars. I mean, the democrats have a plan and lets raise taxes on the top wealthy. Before we get there, we pay our bills. If youre a family of a Credit Card Debt who says lets not pay the bill . The president was saying, Kevin Mccarthy pass something or tleeftsz put out a plan at least put out a plan and ill talk to you and now hes passed something and the president says he will not engage with him. The political cost and the economic one is very real here and it will stick to the president. The president saying hes not going to be hostage in having veterans cuts on health care and having cuts on k through 12 education and having cuts on food stamps and having cuts on manufacturing to pay our bills. Hes saying we can negotiate, but first pay your bills. I think senator mcmcconnell understand and i think the president will sit down with senator mcmcconnell. He knows he cant default. You think thats the back channel that will figure this out . Or Kevin Mccarthy has to come without 22 cuts on Veterans Benefits. Well we will see. I hope to have you on again when theres not a looming crisis. Congressman. Last week two heavily republican states, nebraska and South Carolina failed to pass near total abortion bans. South Carolina Republican congresswoman nancy mace joins us now, and its good to have you here in person, youre often joining us remote. Thank you for having me. I want to get to a lot of what we talked about there with the debt ceiling, but lets start off on abortion. Yove been tal about is being ay i tolitalhat wi imp. Foovstate,mer ssador said no republican president will be able to ban abortion nationwide and believes theres a federal rule on abortion but didnt say what she believes. No limits exactly, no exceptions. Does she need to . I think any president ial candidate, Anyone Running for office at the federal level including members of congress, incumbents and people running to flip seats in 2024, need to have a position, need to articulate that position, what ive been trying to do since roe was overturned show a road map. I represent a swing district in South Carolina which shows a road map for winning states that are purple or districts that are purple and articulating where we stand on the message. We have to show im pro life. But im a conservative who reaches across the aisle and works with the other side. Ive worked with ro khanna. I work with democrats all the time on issues where we can agree on. Theres so much when it comes to protecting life and protecting women, that we can agree on in terms of guesttational limits. Something that can happen at the state and federal level. I talked to and listened to my constituents all the time and i read a letter from a woman who is no longer republican, an independent voter now, pro choice, and her guesttational limits are 14 weeks. Im a pro life ledge lay tour im 15 to 20 weeks. Theres so much in how we talk about the issue, but we have to as republicans show compassion towards women and life. You can do both and win. I did it overwhelmingly in november when we won by 14 points, overwhelmingly in a swing district. Just for clarity, the majority of abortions are performed in that window of 15 weeks. Right. So former President Trump has taken criticism from republicans for not specifying a position either, has said its up to the states. Both of South Carolinas senators have picked that window 15 weeks, 20 weeks, tim scott is running for president potentially here. He said he would sign a 20week limit. Is he closert th republicans need to be doing than nikki haley is . 15 to 20 weeks is the sweet spot here because democrats often are at 24 weeks and thats too far for a lot of people. No one wants zero. No one wants zero weeks. You want this at the federal law. It can be. I think theres a rule for the State Government and for the federal government. If its guesttational limits we can find agreement. 15 to 20 weeks, pro life groups like susan b. Anthony, against it now, but they were with 20 weeks for exceptions. For years, republicans have been for 15 to 20 week bans with exceptions including both my senators from South Carolina at the federal level and most 80 of america would agree with that. They want us to protect women and girls who are victims of rape, incest, lives at risk. We also need to make sure that Birth Control that women have access to Birth Control, particularly in rural areas, and South Carolina, we have 14 counti i ourte t d have a sin rnos car abies syem, adoption care, Birth Control, theres so many things that we can work on to show that were pr rape kits. We have over 100,000 rape kits that have yet to be processed. We can do both. We can walk and chew gum at the same time. You said republicans need to have a woman on the ticket. Yep. Nikki haley endorsed you. Are you ready to endorse her . Were going to see how the race shapes up. Not everybody is in. Im watching carefully. I love nikki haley. I have not been quiet about that. She was the only person to endorse me in my election last year and i want to see a woman on the ticket. I want to see who jumps in and give everybody a shot. Im cheering her on. Shes a constituent and i love what shes doing and she gave a speech last week on womens issues. Thats very important. Women are watching. Do you want her to go farther and be more specific . I would love to see her move on. Can a republican candidte who supports or signs into law as Governor Desantis did a sixweek limit to abortion in the dead of night, by the way, yeah. Can he succeed in running for the presidency . Is this going to be something that and people are in republican districts have to make this calculus . You say youre in a purple one. Its the number two issue in my district. Number one is inflation, debt ceiling is an important issue, number two is abortion and find finding a ground. Signing a sixweek ban that puts victims of rape and incest in a hard spot isnt the way to change hart hearts and mind. The requirements he has for rape victims are too much, not something i support as a nonstarter. I am a victim of rape. Raped by a classmate at 16. I am very weary and the devil is always in the details. Weve got to show more care and concern and compassion for women who have been raped. I dont like the bill was signed in the dead of night. Puts him in a difficult position for a general election in my opinion which is why i have been so vocal on this issue, i would like us to win. I would not only like us to win the electoral college, i want us to win the popular vote. If we can show the middle ground ule controversial, Birth Control shouldnt be controversial. It keeps the number of abortions down if women have access to Birth Control. It shouldnt be controversial. Its interesting because some candidates like mike pence have said he would sign a 15week limit but he wants to get to a ban. Theres some nuance in there too and some of these positions. I want to ask about debt ceiling. You opposed and then voted for speaker mccarthys bill we were discussing with congressman canna here to lift the debt ceiling in exchange for trillions of cuts. Bill dead on arrival in the senate. White house is not readied to negotiate. Can you be confident that we will avoid getting close to defaulting, even if we dont get over the cliff . Its dangerous we dont want to play chicken with the economy. When i sat down with Kevin Mccarthy on wednesday, we talked about us leading a balanced budget amendment. I believe we needed to do that. As you mentioned, as ro mentioned, the last time we balanced a budget was under bill clinton. Republicans in 94 put together th a draprest nce a budget in 98 publanjoits not of thein ther. In charge. Ub we did it again, we had cut cap and balance in 2010 with obama as president. Are there red lines for you, though . Well, certainly the fear tactic of default is a red line. That is not going to happen. We get 11 times the revenue that we need to pay the interest on the debt. The president can prioritize spending. We dont know no one wants to cut Veterans Benefits or Social Security or food stamps. We have 31 trillion in debt that was started by both sides under President Trump, 8 trillion added to the debt. Under President Biden 4 trillion. Thats 12 trillion in six years. The president needs to come to the table, take a look at what we have offered and start negotiating. This is a serious problem and as ro mentioned earlier, families are living paycheck to paycheck and they have to balance their checkbooks so should the federal government. Our tax revenues last year were 4. 7 trillion, yet spending 6 trillion every single year. We are not going to abandon this issue. We know its going to be looming for some time. Thank you. Both of you, for joining us. Face the nation will be back in a minute. Stay with us. Ent how . Arent we all just looking for the hottest stocks . Fisher Investments nope. We use diversified strategies to position our clients portfolios for their longterm goals. other money manager but you still sell investments that generate high commissions for you, right . Fisher Investments no, we dont sell commission products. Were a fiduciary, obligated to act in our clients best interest. other money manager so when do you make more money, only when your clients make more money . Fisher Investments yep. We do better when our clients do better. At Fisher Investments, were clearly different. You like that bone . I got a great price on it. Did you see my tail when that chewy box showed up . Oh, i saw it. Sorry about the vase. Can we just say vase like normal people . Fine. I always wondered what it would be like to have a tail. 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This is, honestly, the fourth time weve seen this title 2 is going to end and every time we come to this situation, before the crisis is an uptick in illegal immigration, whether its brownsville, whether its eagle pass or el paso. Now its all three of those areas. So the numbers are getting worse. The agents are beyond an exhausting point. Its not just at the border. Youre seeing places 100, 150 miles from the border are just as overwhelmed as if they were on the rio grande themselves. You are set to vote in the house on may 11th on a border bill. Youre part of the congressional hispanic conference which opposed the republican bills on the grounds that you needed provisions in it to help legal migrants in the asylum process. I know you are now on board, draw us your position, what changed and is there anything that can get through a democratic controlled senate . Yeah, margaret. Its an exciting time for the congressional hispanic conference which im a cochair with mario diazbalart. Its the first time weve set a marker down and said our voices will be heard. Ive been very public and essentially negotiated in public and in private, one of the things that i in particular ask for is to not curb legal immigration, not hamper those that are legally doing the things that they need to do to come over and a lot of that was stripped away in the judiciary part which is half of the package. The Homeland Security package, i sit on that committee, i asked for specific things. One, ensure we hold cartels accountable. You want to get to the root of the cause theyre the issue. We go down this path of labeling cartels as terrorists. Another is giving resources what does that do . We added 110 110 million for deputy sheriffs and local Law Enforcement officers. I did a ride along with the Medina CountySheriffs Office on monday, 120 miles from the border. Their Police Cruisers are getting trashed and other things. We have to give a pay raise to the Border Patrol agents. We have to go further. On that house bill you just voted for to lift the debt ceiling in exchange for cuts, the white house means it would cut funding for customs and border protection. Do you have any guarantees in the future deal, there wont be cuts to the agents you represent . You just signed a bill that would do that . Look, i was on the fence. It was 215 to 215 when i ended up voting in favor of the debt ceiling, so i have some very deep concerns with the direction were going. Universal cuts dont always solve the issue. In the same breath, just throwing money at a problem doesnt solve the issue. Im trying to go where is the money going, how does dhs, instead of getting a blank check, how do we give them money to the things that will help secure the border like repatriation flights. These are flights people that do not qualify for asylum, they dont get flown to new york or d. C. Or chicago, they get flown back to their country of origin. That is how you solve the border crisis. 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Well be right back with a lot more face the nation including more with congressman gonzales and former head of the National Economic council of the Trump Administration gary cohn and a conversation with parents about kids and the impact gun violence is having in their lives. Stay with us. Overni news. We begin tonight with the us killing five of his neighbors, ages 8 to 31 years old. This afternoon, the fbi a announced an 80,000 reward for information leading to the arrest of this man, 38yearold Francisco Oropesa p. T the shooting happened in cleveland, texas, a Rural Community about 35 miles north of houston. Janet shamlain is in texas with that. Reporter authorities just finished a press conference wherhe