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The trump administration . sean hannity iscalling out waters and the left saying the reason they are getting radical is because president trump is defying their predictions and finding success . >> we will be doing it in october, maybe a little sooner. one of the things we're thinking about bringing the21 percent back to 20 and for the most part the rest of it could go to the middle class . heather: trump is delving into the details about the second phase of his tax cuts which he expects to roll out this fall and he said the middle class will be even better the second time around. here to brea...

Shift in u.s. monetary policy in nearly five years. the fed expected to ease the model designed to prop up the economy during the financial meltdown. here to explain what this means for us as well as the economy, university of maryland economist, peter marisi and greg, gentlemen, good morning. >> good morning. >> let's set the bar where we are with the economy. this is kind of a snapshot that we have. unemployment steadily declining. 7.3%. home sales up 17% from a year ago. inflation seems to be staying in check. the dow is up more than 18% this year so far. but peter, the economy is growing a...

Beneficiaries. for those -- i just turned 52. my retirement age now is 67. if my kids were going to retire at 68 or 70 it would really be no big deal given that life expectancies are expanding so dramatically. 78.2 years now. it's going to be 80, 90 years when our kids hit that part of our lives. i don't really understand either adjusting the cost of living benefit which is, as you say, very modest, or even changing the retirement age. it seems they're messing around with things that, you know, really are no-brainers. >> yet there are a lot of complaints, as you know, and you just heard bernie...

Problem in health care, and that is it's simply too expensive in the united states. >> i'd love to get you back. we're going to get more details and we'll hear more of the debate coming up. peter, ron, great talking to both of you. and we'll be right back. ♪ [ acoustic guitar: upbeat ] [ dog ] we found it together. on a walk, walk, walk. love to walk. yeah, we found that wonderful thing. and you smiled. and threw it. and i decided i would never, ever leave it anywhere. because that wonderful, bouncy, roll-around thing... had made you play. and that... had made you smile. [ announcer ] benefu...

They claim to be. >> how do you see this as meeting us halfway? we cut $5 trillion in spending. he raises $1 trillion in spending and raises $1.1 trillion in taxes. >> if you want to defend the middle class, you don't cut social security and you don't cut medicare and you don't cut benefits for disabled vets. >> let's bring in cnbc contributor ron insana and university of maryland business professor peter marisi. can we start with the bone of con tense, changes of social security. the house and senate have no specific plan to address it, but the president's plan will reduce cost of living adju...