10%.
IF THIS IS KEEPING THEM UP AT
NIGHT THEY SHOULD BE SELLING.
MARIA: POLICY OBVIOUSLY DICK
CHENEY BEHAVIOR AS WELL.
THE PRESIDENT UNVEILED HIS
LONG-AWAITED INFRASTRUCTURE
PLAN.
$125 TRILLION INCLUDES PRIVATE
MONEY EXPECTED TO CALL FOR
FEDERAL SPENDING OF $200 BILLION
OVER 10 YEARS INTENDED TO SPARK
STATE, LOCAL AND PRIVATE
INVESTMENTS RESULTING IN A NEW
SPENDING BILL.
THE WHITE HOUSE AS PRESIDENT
TRUMP WILL BE TRAVELING TO
PROMOTE THE INITIATIVE AFTER IT
UNVEILED.
PERCEPTION FROM THE PEOPLE
YOU’RE SPEAKING LANDS.
>> IT’S REALLY IMPORTANT TO
PRESIDENT OUT THERE IS SHARING
HIS MESSAGE.
THE PHOTO SHOWS AN OPPOSITE
MESSAGE AND WHEN HE TALKS TO THE
AMERICAN PEOPLE ABOUT WHAT IT’S
GOING TO DO FOR THEM, IT ONLY
HELPS WITH NUMBERS AND HELPS
PEOPLE FEEL MORE CONFIDENT.
INFRASTRUCTURE IS SOMETHING HE
PROMISED HE WAS GOING TO DO AND
SOMETHING THE AMERICAN PEOPLE
WANT AND DEMOCRATS AGREE IS
IMPORTANT AND TO DO.
A LOT OF CRITICISM ON THE BUDGET
AND IS THIS THE RIGHT THING TO
DO?
HE’S GOT A STORY TO TELL TO MAKE
PEOPLE FEEL COMFORTABLE AND
CONFIDENT IN A LOSS TO STICK
THROUGH TOUGH TIMES.
MARIA: LAST WEEK HE WAS TALKING
ABOUT THE BUDGET AND THERE
WASN’T A LOT OF HAPPY FACES IS
HARDER THAN BUDGET.
THE INFRASTRUCTURE PLAN IS PART
OF THE 2019 BUDGET SET TO BE
RELEASED TODAY.
DAGEN: HIS BUDGET FOR NEXT YEAR
IS LARGELY MOOT BECAUSE YOU HAVE
CONGRESS ALREADY AGREED TO YOUR
BUDGET PLAN, WHICH INCLUDES
$300 MILLION IN ADDITIONAL
SPENDING.
20 BILLION OF THAT BY THE WAY IT
IS AN INFRASTRUCTURE.
HE’S GOT A $200 BILLION
INFRASTRUCTURE PLAN.
WHO IS PAYING FOR THAT?
RIGHT NOW THE MARKET CONCERNED
IS THE POLICYMAKERS OVERREACT TO
RISING INFLATION, PARTICULARLY
IN WAGES?
THE 10 YEAR YIELD MOVING UP A
TWO-POINT 88% THIS MORNING.
THAT IS A SIGN THE ECONOMY IS
STILL OKAY.
WE HAVE A PRESIDENT CUTTING
TAXES WHO IS RAISING SPENDING
AND THEY’VE GOT $1 TRILLION
ANNUAL BUDGET DEFICIT.
THAT IS NOT A GOOD SITUATION,
NOT FOR THE MARKETS.
MARIA: MARKETS REACT TO THIS.
THE WHITE HOUSE SAYS THAT THIS
19 BUDGET INCLUDES INCREASED
SPENDING FOR IMMIGRATION, BORDER
SECURITY, VETERANS MEDICAL CARE
TO FIGHT THE OPIOID EPIDEMIC.
THEY PROPOSE CUTTING DEFICITS BY
$3 TRILLION OVER THE NEXT DECADE
THROUGH AN AGGRESSIVE SET OF
SPENDING PROGRAMS.
>> FOR ENTITLEMENT REFORM?
>> ALSO THE U.S. ECONOMY WILL
GROW 3% ANNUALLY OVER THE COMING
DECADE.
THEY ARE MAKING A BIG ASSUMPTION
HERE THAT GROWTH IS ACTUALLY
GOING TO CUT INTO ALL OF THIS
SPENDING IN PUT A LIMIT TO THE
SPENDING, BUT WHEN I WOULD LOOK
AT TRILLION DOLLARS DEFICIT OVER
THE COMING YEARS.
>> OF MARCH PART BECAUSE OF THE
DEFICIT THE REPUBLICANS PUT
THROUGH A $300 BILLION IN
ADDITIONAL SPENDING.
WHAT WILL HELP, THE TAX REFORM
WILL HELP BECAUSE WE DO NEED A
FASTER GROWING ECONOMY.
WE DO NEED MORE REVENUE COMING
INTO U.S. GOVERNMENT.
WE DIDN’T HAVE THAT IN THE MOST
RECENT YEAR.
REVENUE WAS UP 1%.
THAT WILL HELP, BUT YOU DO NEED
TO CUT SPENDING AND YOU’RE NOT
SEEING THAT.
IN THE BUDGET THE REPUBLICANS
PASSED $6 BILLION IN ADDITIONAL
SPENDING FOR THE OPIOID CRISIS
ON TOP OF THE BILLIONS THEY
HANDED OUT.
AGAIN, WHERE’S THE MONEY COMING
FROM THAT ULTIMATELY PEOPLE SAY
WE NEED TO RAISE SPENDING ON THE
MILITARY.
WE DID THAT, BUT OUR NATIONAL
DEFENSE MORE THAN ANYTHING ENDED
UP PAYING MONEY OUT IN INTEREST
ON OUR DEBT TO CHINA.
WE ARE LITERALLY A FEW YEARS
FROM NOW FUNNELING MONEY JUST ON
INTEREST TO CHINA TO OUR ENEMY.
MARIA: AS RATES GO UP, THAT IS
THE REALITY, MIKE MURPHY.
I KNOW YOU WILL SET THE BACKDROP
IS STRONG BECAUSE IT IS.
BE NOT THE BACKDROP IS STRONG IN
THE BACKDROP OF THE
INFRASTRUCTURE BILL IS DIFFERENT
THAN WHAT WE’VE SEEN BEFORE
BECAUSE WHERE THE MONEY IS
COMING FROM IS 80% ON THE
PRIVATE AND LOCAL GOVERNMENT
VERSUS THE FEDERAL GOVERNMENT
BECAUSE THEY REVERSED IT FROM
WHERE IT USED TO BE 80% OF THE
FEDERAL, 20% LOCAL AND NOW IT’S
80% LOCAL.
IF YOU WANT TO FIX A ROAD OR
BRIDGE IN YOUR MUNICIPALITY OR
YOUR AREA, YOU HAVE TO PUT UP A
BULK OF THE FUNDING AND THE
FEDERAL GOVERNMENT WILL HELP
YOU.
STANDPOINT IT’S NOT A HANDOUT
FOR YOU OR HANDOUT FOR YOU IF
YOU CAN DO PART OF THE HEAVY
LIFTING WE ARE THERE TO HELP
YOU.
MARIA: 200 BILLION FEDERAL.
THE REST IS PRIVATE OR STATE AND
LOCAL.
DAGEN: TO ALL THE PEOPLE WHO
MOCK THE SHOW ALREADY, THE
STIMULUS PACKAGE BACK IN 2009,
YOU OUGHT TO BE MOCKING US.
WE NEED INFRASTRUCTURE SPENDING
IN THIS COUNTRY.
MAKE THE PEOPLE WHO USE OUR
ROADS AND BRIDGES PAY FOR IT.
OUR NATIONAL GAS TAX HAS NOT
GONE UP IN A QUARTER OF A
CENTURY AND THAT IS JUST ABSURD.
I’LL LEAVE IT AT THAT.
MARIA: WELL, THE CEO OF THE
AMERICAN TRUCKING ASSOCIATION
COMING UP AND HE’LL HAVE IDEAS
IN TERMS OF PAYING FOR THIS AS
WELL.
WHAT HE HAS TO SAY GAS TAX
INCREASE.
DAGEN: THE TRUCK ADMINISTRATION
IS NOT GOING TO PROPOSE THAT.
THE $200 BILLION INFRASTRUCTURES
ENDING COMES FROM SPENDING CUTS.
WHERE THAT WILL HAPPEN, WHO
KNOWS.
EVERYBODY WANTS A PIECE OF THE
PIE.
EVERYBODY WANTS A PIECE OF THE
SPENDING.
EITHER WAY, WE ARE BORROWING
THIS MONEY TO HANDED OUT.
IT IS INTERESTING TO SEE WHAT
ENDS UP BEING PUT TO WORK.
MARIA: AND WE KNOW THEY WILL NOT
CUT BACK ON ENTITLEMENTS RIGHT
NOW.
THAT’S WHERE THE GROWTH OF THE
MONEY IS.
DAGEN: I’M JUST WAITING FOR 11
YEARS WHEN THE HOSPITAL FUNDED