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chip. meanwhile, the speaker has said, i want to find a reasonable way to lift the debt ceiling. read between the lines there. kevin mccarthy would like to use this threat of the debt ceiling as a way to leverage spending concessions from president biden and president biden has said that he's not willing to negotiate on that point, that he wants a clean lifting of the debt ceiling. the question is when they get behind doors, will there actually be some negotiating around this, and it's been clear from the democrats that kevin mccarthy can't come empty handed h. needs to have a list. and all of this back and forth harkens back to 2011, the last time republicans attempted to use the debt ceiling as a real leverage tool to try and get spending cuts that led to a government shut down, that led to the downgrading of the united states credit rating by major credit rating agencies and of
>> [inaudible question] >> the first lady running interference. we spoke to the office of george w. bush, one of the former presidents that got a letter from the archives asking them to do an assessment of possible classified materials. the bush office wrote back to the archives they're confident they don't have anything will like that. on capitol hill lawmakers are steamed at the director of national intelligence haines for not telling them more about these documents. in a closed hearing this week. we hear from haines about issues she has with overclassification. >> first we need to continue working on the development of a system that promotes the appropriate classification of information when identified to begin with and minimizes what is classified as an initial matter. secondly, we need to facilitate the downgrading and declassification of information
lost on that tweet. for the first time since the covid 19 crash in 2020. a survey of business economists found that more expect their own companies to cut jobs in the coming months than to add them. >> cnn chief business correspondent christine romans joining us now. there have been so many mixed signals in terms of which way the economy is headed. because some has gone out of the window. but this survey is important because economists are expecting the hot jobs market to weaken. >> and this is another evidence of downgrading. these are business economists, whose job it is to inform their companies about the macro economic landscape. so now you have about 19% of business economists expect that
back with our money lead, today treasury secretary janet yellin warned of a global financial crisis as soon as june if the u.s. congress fails to raise the debt ceiling. that's the limit set by congress on how much the federal government can borrow to pay its bills. we're not talking about new spending. this is money the u.s. government currently owes. secretary janet yellin says if the debt limit is not raised, the consequences could be felt by all americans. >> we would certainly experience, at a minimum, a downgrading of our debt. if that happened, our borrowing costs would increase, a failure to make payments that are due, whether it's to bond holders or to social security recipients, or to our military, would undoubtedly cause a recession in the u.s. economy. >> democrats and republicans on capitol hill need to come to an agreement to raise the debt limit, but right now neither
overall? perhaps that which gets siphoned over to ukraine? and no increase to the debt limit sir? how concerned are you that we could default? t? >> kevin mccarthy has been drinking from a poisoned chat-less all week long and has been cutting deals with the far-right in his caucus. we now see he is going to have to drink from a fire hose in terms of the poison he has agreed to, and you have put them up there on the screen. it can lead to threatening national security, it can lead to a deal in the national debt in the downgrading of our credit worthiness as a country, in the united states of america, and the so-called balanced budget amendment can lead to enormous disinvestment's that we desperately need in america while we are making progress,
trying to force spending cuts in 2011 that led to america's credit rating getting downgraded because they weren't able to arrive at a deal. the markets felt the u.s. government had to become, according to the downgrading, quote, less stable, less effective, less predictable. that had a real tangible detrimental effect on the american people, their pocketbooks, their retirement savings. what's the plan to make sure that doesn't happen again, the chaos we saw this week or whatever you want to call it, doesn't become just what happens every day, especially when we're talking about major must-pass legislation like raising the debt ceiling which is just about paying the bills for what has already been paid? >> the fastest way to guarantee we have debt rating problems is to keep spending money we don't have and keep piling up debt. that's what we're doing. the uni party in washington, republicans and democrats, the power brokers, reflected by mike rogers, when he goes in and -- he's pushing back on the -- >> and says i will finish you.
it's not about petty personal desires. i don't want to be on a rules committee. i don't want to leave my family on sunday nights to come up here but i might do it if that's what my kids decide. >> the chaos, the back and forth, whether or not this is going to mark what the congress is going to look like going forward over the next two years. mccarthy promised one -- one of the promises was not to raise the debt ceiling without some accompanying spending cuts. congress had a similar showdown, trying to force spending cuts in 2011 that led to america's credit rating getting downgraded because they weren't able to arrive at a deal. the markets felt the u.s. government had become, according to the downgrading, quote, less stable, less effective, less predictable. that had a real tangible detrimental effect on the american people, their pocketbooks, their retirement savings. what's the plan to make sure that doesn't happen again, the chaos we saw this week or whatever you want to call it,
that. when she said that at the time you think about it, where is she thinking about this? i'm not seeing the intelligence. when i was briefing zoe it was paul irving that actually brought up hey, tell her about the national guard. >> right. even though he had been downgrading. >> he was the person that told me i couldn't have him in advance. i said yeah, i reached out and if we need them, they're ready. >> the book is "courage under fire, under seeing and 5 8-1 on january 6th. the suspect in the idaho student murders is on his way back to idaho as the families prepare to learn more. stay with us. an: : i have a fewe minutes. let's go! >> tech vo: that's service that fits your schedule. go to safelite.com. >> singers: ♪ safelite repair, safefelite replace. ♪
ones oversee. so this is an emotional moment. >> it certainly is. but i mean, as you laid out, quite the you turn for china. how and why are chinese authorities changing the way covid is classified as an illness? >> so these changes to the travel restrictions are just mentioned are actually part of this broader change to how china is mentioning covid. the country says it is downgrading's covid management to a class be disease. previously, covid was managed as a class a disease that, means it was on par with cholera or the bubonic plague. which was justification for the draconian zero covid measures. now china's even changing the name from covid pneumonia to covid infection. officials are saying omicron is less severe and only a small number of cases actually develop into pneumonia. but since china has banded zero-covid, information from the country has become even more opaque with how authorities no longer are