[Applause] [Music] Good afternoon. Assume you are on a plane about to skydive. You know, how would you react. Would you be worried. Would you be glad.You know, I would be worried. I'd say not in a million years I'm not jumping off this plane. And that's exactly what I did when I said I wanted to go play nationals for India at the age of 37.People looked at me and they said are you crazy. What are you trying to do here. And then I said why not you know let me take the first step.That's exactly where this sta ...

Joining us now, Democratic Congressman Jason Crowe of Colorado. He's a combat veteran and member of the House Armed Services Committee as well as the House Intelligence Committee. Congressman, thanks for being with us this morning.Uh, as this recess for the summer gets underway, what are you hearing most from your constituents. >> Well, my colleagues are absolutely right. Economics, the cost of housing, the fact that it is excruciatingly difficult to raise a family in America today.Those are the things that ...

Of course, you got to cut mortgage. You got to the mortgage rate down. It has to get come down.>> Now we turn our attention to Stockholm and these talks with the Chinese. We're monitoring the president's bilateral with UK Prime Minister Starmer in Scotland. But meantime, Besson and Grier have arrived in Sweden.Let's get to our Eamon Javers. Eamon. >> Hey, Carl.That's right. >> Here in Stockholm, we saw the arrival of the US delegation just a short time ago. We saw Treasury Secretary Besson exit the motorcad ...

Trade & Tariff Policy - The administration suggests that most trading partners could face tariff rates between 15% and 20% [1] - The country faces an urgent national emergency due to massive trade deficits, cumulatively around $18 trillion over several decades, representing a transfer of wealth, factories, and jobs abroad [2] - The US has collected approximately $100 billion in tariffs, marking a record for a single fiscal year [4] - The US is collecting $18 billion in tariffs from China alone on fentanyl [5] - A 35% tariff threat is being considered for Canada, but it is not yet applied under the USMCA agreement [7][8] - The administration is considering a potential 200% tariff on pharmaceuticals, possibly with a delay of over a year to allow supply chains to reorient [12] - Section 232 tariffs aim to strengthen the defense, manufacturing, and health industrial bases [13] Economic Impact & Fiscal Policy - The administration believes that combined with tariff revenues, the "big, beautiful bill" will turn a $2 to $3 trillion deficit into a $2 to $3 trillion surplus [16] - The Congressional Budget Office (CBO) forecasts a 18% rate of economic growth, which the administration considers too low [18] - Increasing the growth rate by 1% could raise a couple of trillion dollars, potentially leading to neutrality in the debt [19] - A 50 basis point increase in interest rates by the Federal Reserve (FED) could lead to a 025% to 05% reduction in GDP growth, resulting in 500000 to 750000 fewer jobs [22][23] - A half-point increase on short-term debt could add a couple of hundred billion dollars to the debt over ten years [24] Monetary Policy & Federal Reserve - There is an argument that the Federal Reserve is at least 50 basis points above where it should be, suggesting a need for lower rates [22] - The bond market may perceive Jerome Powell as ineffective due to his actions [27] - The Federal Reserve (FED) chair should have taken action to address fiscal policy concerns, similar to William McChesney Martin's approach during the Vietnam War [31][32]