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It's what finances military operations in afghanistan, military operations against isil and the middle east. it's a real fund. the expenditures are real. we don't have to use it but it also provides the military with the flexibility it needs for training and equipment. again, we just have a different point of view of how to get there. the spending levels are essentially the same. >> this budget calls for the full repeal of obamacare. you confident that the president would sign that? >> no, i don't think so but he doesn't have to sign the budget. the budget is a negotiating document. the presid...

Multinational corporations offshore earnings coming back in and helping that fund infrastructure. so a whole bunch of proposals out there. one thing i do know is we have a deadline, may 31st. we have to come up with a resolution to this issue. obviously what we've done in the past is not sufficient. we've now -- to the tune of $62 billion, belowed money out of the general fund transferred it and used it to replenish the shortfall on the highway trust fund. all that does is add it to the debt and hand the bill to our children and grandchildren. we have to come up with a way of financing the ins...

>> i hear you. >> that's the most important point. >> doesn't the fact that congress has not been able to achieve anything on this, many would argue that's incentivizing some of this. doesn't some of this lay at the feet of congress for not passing reform. >> i would say the senate immigration bill created additional incentives. part of the senate bill, one of the reasons i voted against it, it included in that bill was $262 billion of welfare benefits for non-u.s. citizens. that's an inducement, that's incentive to get in the country under the deferred action for childhood arrivals. you're no...

A feeling they're swimming differently. >> well, the point is, there may be a good scientific basis to want to study that. so let's assume there is. is now the time to spend that kind ofman moye when he one-half a $62 billion deficit and we're going to be paying interest on borrowed money, or wait until a better time. >> you mentioned the deficit. they say we can now because the deficit is smaller than it was. used to be a trillion dollars and now it's down to home run territory. >> it's going right back to a trim dollars, according to the cbo. the opinion is, the point is, it has to be we lea...

To go down, to your point it is tough to turn it around once the trend starts sliding. jon: tom bevin is the cofounder of "real clear politics." tom, thank you. >> thanks, jon. jenna: right now in washington, d.c. the senate is considering a key bill to fund our military. it is called the defense authorization act. it is a $562 billion bill with lots of controversy over a few key items. our chief congressional correspondent mike emanuel has details from capitol hill. mike, we're running down the clock here. what is the latest when the vote will happen on this legislation? >> reporter: well, hi...