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you are live in the "cnn newsroom." i'm jim acosta in new york. it's here 6:00 here in the big apple, 3:00 p.m. in california. what's likely to be a long, sleepless night and soggy weekend lying ahead for much of monterey county. the county is the epicenter of catastrophic flooding in that state. these are new images of the levee that failed around midnight local time. mandatory evacuations are now under way in parts of the that county. a string of deadly storms has unleashed massive flooding across the central and northern portions of the state. at least two people have died in this...

state of our economy. >> good evening. the day started well enough for biden with a jobs report showing the u.s. economy adding 311,000 jobs last month. >> we created more jobs in two years than any administration created in the first four years. it's no accident. it mean our economic plan is working. >> but that good news was quickly overtaken by bad news that could get a lot worse. >> thank you. thank you. >> silicon valley bank may not be a house hold name. but it is a very big deal in term of lending to and financing operations of many leading tech companies. and today, it collap...

making, but silicon valley's implosion is the biggest such failure since the collapse of our entire financial system 15 is years ago.o down next, and we've got you covered in los angeles with kelly o'grady on how all of this happened, at the white house with lucas tomlinson on what they hop next, in washington with former fdic chair sheila bair on why this won't be another financial meltdown, she hopes. and in florida with home depot cofounder bernie marcus who says that doesn't mean this still won't be a big confidence meltdown no matter what happens next. all that and nikki haley o...

white house with more on this, hi, lucas. lucas: it adds trillions to the national debt with $31 trillion and interest payments on the debt next year could one day approach the size of the defense budget. let that sink in. now here is house speaker kevin mccarthy adding more c -- conte. >> we've only paid $9 trillion in interest. so he's going -- took us 80 some years to happen in less than ten years. lucas: let's take a look at biden tax proposals which would add more to the national debt. 25% minimum tax on people with 10 -- 100 million plus dollars. 39.6 capital gains tax for peop...

week after the armed abduction before other americans. they traveled there from south carolina, just across the border into northeast new mexico. the surveillance video you see appears to have the government forcing them back into the tr truck. two of the americans were later found dead, allegedly murdered at the hands of the mexican cartel. that now is apologizing for the kidnapping. two other americans thankfully are back safe here at home. cooks don't sign for the federal government to step in and take charge and actually do something about the situation. i can the question needs ...