Capitol hill where Congressional Budget Officer director Phillip Swagel is getting ready to testify before lawmakers on the cbos budget. The hearing is expected to begin shortly and youre watching live coverage on cspan3. Good afternoon. Ill call the committee to order. Today the committee will hear testimony from the Congressional Budget Office director Phillip Swagel. These projections account for the effects of the covid19 pandemic and legislation enacted in response to it and provide a window into the future of our financial state. This is dr. Swagels first time testifying since becoming the 10th director of the office. Unfortunately, the pandemic has delayed us from having him appear before this committee. I would like to thank dr. Swagel for being here and thank the cbo staff for working to provide congress with informed estimates at a time of unprecedented uncertainty and unusual working conditions. Cbos updated budget projections confirmed what we all know, that the economic di
Cbos budget. The hearing is expected to begin shortly and youre watching live coverage on cspan3. Good afternoon. Ill call the committee to order. Today the committee will hear testimony from the Congressional Budget Office director phillip swagel. These projections account for the effects of the covid19 pandemic and legislation enacted in response to it and provide a window into the future of our financial state. This is dr. Swagels first time testifying since becoming the 10th director of the office. Unfortunately, the pandemic has delayed us from having him appear before this committee. I would like to thank dr. Swagel for being here and thank the cbo staff for working to provide congress with informed estimates at a time of unprecedented uncertainty and unusual working conditions. Cbos updated budget projections confirmed what we all know, that the economic disruption caused by covid19 and the federal governments response have led to a surge in deficit and debt. Cbo projects by the
The highway, medicare and scattered showe social distance needed funding by 2031. [inaudible conversations] good afternoon, ill call this meeting to order. Today the committee will hear testimony from the Congressional Budget Office director, phillip swagel, on cbos updated budget and economic projection. These projections account for the covid19 pandemic and legislation enacted in response to it, and provide a window into the future of our financial state. This is dr. Swagels first time testifying before the Budget Committee since becoming the 10th director of the Congressional Budget Office. Unfortunately, the pandemic has delayed having him appear before this committee. Id like to thank dr. Swagel for being here today and id like to thank the cbo staff for working to provide congress with informed estimates at a time of unprecedented uncertainty and unusual working conditions. Cbos updated budget projections confirmed what we all knew, that the economic disruption caused by covid19
Tonight we encourage you to ask questions. The back portion of our event will be dedicated to your questions. At the bottom, you have seen where people have already asked question and you can vote on the questions that youre most interested in hearing our authors answer. And, lastly, reminder to everyone that you can see us, but we cannot see you. Feel free to relax and get comfortable. Tonight shes here with her new book. Tonight we are also joined by Zachary Carter where he covers congress, white house, tonight he will discuss price is king. So without further due i introduce stephanie and zachary. There was a tweet from lincoln public, antitrump republicans, how donald trump had run up 18. 17 billion of debt, theres columns in wall street journal, New York Times about debt, debt, but your book calls of deficit as a myth. What do you mean of by the deficit myth and why do you think its important to write at this time. Pleasure to be with you. First, let me start by saying increasing
You were just talking about times when its okay to sell if youve had gains on some of these big cap tech names. Yeah, im not advocating that this is a get out now moment, i just think that we have had such a good run, there was something that came out on the screen this morning that we are having the best quarter since the Fourth Quarter of 1999 and i just cant be, oh, well, so what, when was that that was a seminole top. Theres been some fantastic runs and i think that sometimes we forget why we own stocks we own stocks to create wealth there was a gentleman on just now, mr. Bailin and he said so many good points, he agrees with me on selling some of the ones that have really moved he would like to rotate into the stocks that havent moved yet. What i am saying is there is no sense for a lot of our investors who watch to rotate into something that hasnt moved when they can just sit and wait with some cash, which is cash has been so vilified and i think that i am not coming in early lik