tv Velshi MSNBC October 2, 2021 6:00am-7:00am PDT
the social spending deal. on the progressive side, congresswoman jayapal said the build back better plan may have to be scaled down a bit, but president biden is in support of passing the two bills in tandem. >> he was very clear the two are tied together and we will have to get -- and he said, i support it entirely. if i thought i could do it rate right now i would, but we need to get this reconciliation bill and it will be tough and we'll have to come down in our number and we will have to do that work so we'll do our work and see what we can get to. >> biden took the pressure and urgency getting these bills passed quickly by emphasizing that a specific time line doesn't matter. >> i'm telling you we're going to get this done. >> it doesn't matter when. it doesn't matter if it's in six minutes, six days or six weeks.
we're going to get it done. >> these back and forth negotiations may not be pretty, but this is the government at work and the messy work of law making. 3.5 to $1.5 trillion, a lot of numbers were thrown around with the infrastructure plans and that's not really the conversation we need to be having right now. when it comes to government spending we should be viewing it through the lens of a return on investment. every dollar the government spends on people should be a good dollar, and the thought this it was too expensive may be the wrong way to look at it. the republicans are trying to enact without government support through the process that goes around the republican filibuster would fund a number of things from free community college to expanding pre-k to expanding medicare. as negotiations continue, lawmakers need to start becoming very, very clear about what's going, what's staying and why.
joining me now is democratic representative jamaal bowman. his congressional districts includes parts of the bronx and westchester county. he's a member of the progressive caucus and house chair of the labor committee and a great friend of our show. representative bowman, good morning to you. thank you for being with us. help me with this thesis that the conversation about 3.5 trillion, and 2.5 trillion and 1.5 trillion, a, goes over everybody's heads and doesn't speak to what you're trying to buy. if somebody wants to sell me something i need to know what value i'm getting from that thing. i can't decide what's too little or too much money. >> absolutely. good morning, velshi. great to see you, as always. with both aspects of this bill, the infrastructure bill which is the hard infrastructure and the reconciliation bill and the human infrastructure and they both make up biden's agenda and
they both make up the agenda. we are investing in things that will be transform tiff in people's lives today and for the future of our democracy. so we're talking with universal child care where you will not have to spend more than 7% of your salary towards chilled care. we are talking about universal 3-k programs to ensure that all of our 3-year-olds are able to receive early childhood education. i can tell you as a former educator will be transformative in schools and low-income communities. lowering the prescription drug cost and healthcare costs for 43 million seniors. that would be incredible and finally, dealing with the issue of climate change very directly by investing in green infrastructure connected with my bill, the green new deal with public schools.
we are investing in the thing that we have neglected for so long. home health aides will finally be able to earn a living wage and be a part of a union and earn paid sick leave. they'll be able to take carry of our seniors properly, so we kicked the can down the road when it comes to the our women, and health care long enough and it's time to invest in those areas. >> not paying more than 7% of your salary for child care and getting early childhood education, all of that has a direct link to a return on investment, right? every one of those things means that the money the parent was spending on child care can now be spent in the economy somewhere. the idea that the 3-year-old is getting an education or starting that early in terms of child care means that that 3-year-old is likely to become a much more productive 25-year-old. how do you get to that conversation? how do you get the moderates in your party and krysten sinema, i
don't know where joe manchin came up with 1.5 trillion. it might be a great number. i don't know. >> i think some of my colleagues, they have different lived experiences and in their lived experiences they hear those things as entitlements and they think of things like a socialist nation. what i'm trying to share is when we invest in these things we are becoming a stronger economy and stronger than you can imagine because right now we usually have outside of covid, the strongest economy in the world and we still have abject poverty that's too high and the wealth inequality that's way too large and this is an investment in every american, to ensure every american has access to the american dream. one thing i didn't mention is our investment in workforce development and workforce innovation. people need to understand these things connect directly to violence in our community.
if we had young people who had more access to education and jobs, they are less likely to commit balance. here in new york city we spent half a million dollars a year per inmate on rikers island. what we are going to see if we do this right is a dramatic decrease in carceral spending and a dramatic increase in health care costs and a dramatic increase in gdp and well-being for our country. >> congressman, good to see you, as always. thank you for joining us and democratic representative jamaal bowman of new york and joining me now is the pulitzer prize-winning author and co-author of the book "i alone can fix it. donald trump's catastrophic final year." the subpoenas issued by the january 6th house select committee and that is the other major story in washington, the
other thing that's going on is the january 6th committee. their work has intensified with not just more subpoenas, but threats about what happened to people who get those subpoenas and ignore them. >> absolutely, ali and what's so interesting about the sort of role tied quality of these subpoenas is first -- the first tranche of people who learned they were going to be questioned and their records were going to be sought were basically bold-faced names we all recognized and former white house chief of staffmark meadows and steve bannon, a former senior adviser, a very interesting adviser to president trump. also, of course, kash patel who was a very new member of the department of defense team after president trump was basically installing loyalists in that agency. now what happens next is, as we reported this week at "the washington post," a huge group,
11 people who were tied to the rally itself, organizers of protest as it day got subpoenas as well as funders and other subordinates who were having sort of a front-row view to some of the organization, like katrina pearson who had been a former trump campaign official, but helped coordinate all of the rally events that day. what's interesting about them being ali, and i'll get to them quickly is what do these people have, what do they know? what can they share to the committee? here is the basic piece. they are reportedly people who were warning the white house and warning president trump directly about the potential for voilence and chaos and a promoted march on the capitol. the folks who are subpoenaed involve the women for america group who were complaining to their allies in the white house that ali alexander of stop the
steal was privately and publicly arguing with protesters they should march on the capitol and trying to promote that online and promoting violence, promoting using violence to overturn. >> i don't mean to interrupt you, my old friend, but i want to read this from your article, but this is a very important point to people that don't know amy cramer or ali alexander. some of the women for america first organizers have recounted in interviews with news organizations that they and amy cramer sought to warn their white house contacts that alexander's promotion of a march on the capitol was a violation of their permit. so this makes is very interesting. they're actually looking for trump allies and supporters who were saying don't do this, this is bad. this is dangerous. >> right, and ali, you did read the absolute money grab of that story, and i appreciate it. i also want to stress what are the two main questions?
what did the president know and when did he know it? two questions in one and then the second question is, well, if president knew and his aides knew that their own allies were afraid of an illegal march on the capitol and a chance for chaos, what did they do with that information? what actions did they take to prevent that violence and chaos? >> one of the -- i want to carry on from that graph that i was reading because there's more about this character, ali alexander, that people don't know about. the group women for america they feared alexander's online promotion and social media statements were stoking something dangerous including his chance of victory or death, but it is unclear how much of this concern was shared with the white house contacts and trump allies, so this is an interesting fine line that this committee has to get down to, rid? did they know there was this rally and did they know they were going to break permits and it wasn't ideal or did they know
that this thing was going to get violent and potentially deadly? >> 100% those are the central questions for the committee and what's interesting to me, ali, is katrina pearson as described in previous reports was herself frustrated about this event, frustrated about the promotion that ali alexander was stoking for a march on the capitol, and keep in mind, ali alexander, that person people were unaware of, he said he was willing to die for his president to overturn the results and than gan a certain amount of -- i don't know, a march towards are you willing? what are you willing to do if you really love donald trump, if you really support this president and this idea that people would give their lives sort of snowballed as a result of his tweets and his promotion of this idea. secondly, i just want to stress
that what's critical about katrina pearson is in addition to her frustration about this claim she is tasked with going directly to the president to resolve this dispute between women for america, a very pro-company group and ali alexander of stop the steal. a very trump group. she is reported to go to him personally to warn him and to ask for his help in resolving this and figuring out what were they going do while women for america were saying this will be a violent potential march on the capitol and potentially chaotic and illegal and ali alexander was saying i'm with you, boss, and i'll help you overturn these results and make sure you stay in office. >> i'm glad you've written as much on it as you have and it helps people understand what this commission is about and you'll be hearing from the same people, the same things and the outcome has been pre-determined and these questions that you write about and you address are crucial to understanding how this happened and how it got out of hand, who knew and when.
thank you for that. she is an author for "the washington post" and author of "i alone can fix it. donald trump's cat strofshg final year" coming up on velshi, i'll ask jamie raskin about who could potentially be targeted. the u.s. has passed 17,000 covid tests. to austin, texas, where the women's march is set to start and one of 600 rallies set to start including one in d.c., demand an end to the gop-led attack on women and abortion rights. this is velshi. and s. finally, a light scent that lasts all day. new downy light! ray loves vacations.
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this morning americans are taking to the streets in cities across the country in support of women's rights and abortion rights. in the first women's march in the post-trump era and more than 600 marchers planned in total in all 50 states. it all comes one month since texas republicans with the help of the mcconnell stolen trump supreme court found a way to essentially end the protections of roe v. wade and effectively ban most abortions in the state of texas. joining us now from one of the rallies at the heart of the matter in austin, texas, is nbc correspondent stephanie stanton. we are hearing from social media and hearing from people that
they're heading out to these marches and austin is the most important because that is the capital of texas and that's where all of this discussion about abortion is currently happening. >> yeah, good morning to you, ali. indeed, you can see the capitol behind me. the capitol steps. this is ground zero and this is the legislative body that passed that very restrictive abortion law in texas. let me step out of the way and show you what's happening here. you can see that there's a lot of activity and a small crowd gathering here and organizers expect 30,000 people in attendance. they are setting upstages and there will be a series of speakers, local lawmaker, state lawmakers and former state lawmaker wendy davis. you may recall she led the 13-hour filibuster in 2013 and she successfully blocked a previous abortion bill here and sicily richards and former president of planned parenthood will be on hand. we did speak with one woman who
shared with us why she felt it was necessary for her to be here today. >> it's something that was important to me since i was a teenager. a woman's right to be able to choose to have sovereignty over her own body. it's not a matter whether abortion is right or wrong, that is something between a woman, her conscience, a higher power if she believes in one. it's not between her and the government or her and the person next to her. it is a choice that is very personal and no one, specifically the government, has a right to step in and say hey, you know, we're going to take that away from you. >> and just so much passion that we are seeing from the folks who are already here and again, this rally getting under way at 9:00 local time so within the hour here. i want to let you know, ali, that there is a big music festival in town, as well and austin city limits and they're
not sure how that can impact attendance here and there will be several celebrities performing at that music festival. you have miley cyrus, erika badu and miley cyrus has been very active in different women's issues and causes. so we will see if maybe perhaps some of those folks may stop by or if we'll see some star power here in austin like we have in the past when these types of marches happen, but that is happening on the ground in austin, aly. >> we'll keep a close eye on it, thank you. >> we have reporters across the country. the united states has passed another somber milestone in the covid-19 pandemic, but now a new pill promises to relief the tension in overcrowded hospitals and offer a simpler course of treatment and i'll explain that on "velshi." i did tell you a lot of people are frustrated by the inaction on these two big bills on capitol hill. there's one person in america who seems to disagree with me. the president of the united
states has just left the white house and on his way to delaware and moments before he left he said he's not frustrated. it will be done and the two bills do not have to pass at the same time. as soon as we come back we'll bring you president biden's comments on this. is rmy day. ♪ ♪ we see a close up of the grille ...an overhead shot. she drives hands free along the coast. make it palm springs. cadillac is going electric. if you want to be bold, you have to go off - script. experience the all-electric cadillac lyric. let me get this straight. you've got an a.i. strategy to deliver a better customer experience, that will help us retain our customers and even grow our business? how much is this going to cost? here's the figure. 59. 59 million?
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passed, and i've been on the phone with them a lot and meeting with some. >> do the democrats need to go it alone in order to pass a debt limit? >> i hope the republicans won't be so irresponsible to raise the debt limit and to filibuster the debt limit and that would be totally unconscionable and never been done before so i hope that won't happen, number one. number two, with regard to dealing with child care and dealing with tax credits for people putting everything from solar panels on their home to winterizing -- and making their homes and the windows and doors are solid, all of those things are in that second piece of legislation and i'll be going around the country this week making the case why it's so important. look, it's understandable, there's an awful lot that's in both of these bills that
everybody thinks they know, but they don't know what's in them. when you -- when you go out and test each of the individual elements in the bill everyone is for them -- not everyone, but 70% of the american people are for them. for example, my objective is to make sure we put in place the things that will make live more livable for american people. i mean that sincerely. it's not a political statement. it's a reality. a woman trying to get back to work and has two kids and she can't get back unless she has adequate day care and can afford it. you can't be in a situation where if you have a child, why would someone making, say, $20,000 a year not get a rebate, not get money back from the government just like you guys and i get when we file our taxes? we get $2,000 for every kid we have and it gets taken right off our taxes, but if they don't have any taxes to pay because they don't make any money then
they should get the direct payment back. why should they get cheated out of that? it's about being fair. there's nothing in these pieces of legislation that is radical or unreasonable when you look at it individually. the problem is, you know, one of the reasons why people said i heard on television, and why wasn't biden going around the country selling this before? well, for a few little things like we had hurricanes and floods and we had little things a -- anyway, a lot of going on. a lot was going on, so i will try to sell what the american people want, and i'm convinced -- >> look, you're asking me if i'm confident? am i unyielding, do i commit that i'm going to do this? come on. i believe i can get this done. i believe when the american people are aware of what's in it
we can get it done. >> do you think by thanksgiving? >> i think it can be done by 2:27 a.m. come on. i think it will be done. plenty of time for changing the tax code for people next year and for giving people -- [ indiscernible question ] >> everyone is frustrated, how frustrated are you, mr. president, about the delay. >> i'm not. >> can it pass without the reconciliation -- >> i'm sorry? >> do you think it can pass without the reconciliation? >> i'm a realist. i was a senator a long time. i know how legislation gets done. there is no represent why both bills couldn't pass independently except that there aren't votes to do it that way. it's a simple proposition and it makes sense. i support both of them.
>>? are you surprised by how difficult it's been to bring the moderate and president together on the purpose? >> it can bring the moderates and bring them together to get two more votes. >> two. >> well, whatever you think of joe biden the one thing he does know about is legislation, so he seemed to be enjoying that conversation with reporters who were asking him if he was frustrated. he said no, i'm not frustrated and he talked about when this is going to be done? will it be done by thanksgiving, it will be done by 2:27 a.m. on thanksgiving sarcastically telling the reporter it will get done when it gets done. he doesn't think the two bills, the infrastructure bill and the smaller roads and bridges bill and the larger reconciliation bill which contains many more of the biden priorities.
he doesn't see any reason why it should be done simultaneously and part of what folks are talking about. how do you bring moderate democrats and progressive democrats together. he said we need two more votes and he is, of course, referring to joe manchin and krysten sinema, the senators from west virginia and arizona respectively. i'll be talking to jamie raskin, one of the impeachment of donald trump and i will ask him about this when he joins us. i want to talk about covid, a somber milestone is leading this week's covid news as the country grapples with the delta variant, more than 700,000 people have now died from covid in the united states, and that's according to the tally by nbc news. september was one of the deadliest months on record of the pandemic, particularly for younger age groups and the overwhelming majority of recent
deaths were of unvaccinated americans and even as vaccines have become readily available across the country and we've had vaccines for months now. meanwhile, the drug company merck offered more helpful news on friday and announced that it has developed a bill that cuts the risk of hospitalization and death in half for people who already have the virus. the hope is that merck's groundbreaking bill can help with easier courses of treatment, specially at those dying at twice the rate of those in urban areas partly because of the lack of access to medical care. the drug offers another layer of protection as america's vaccination rate has slowed down with 55% of those 12 and older now fully vaccinated. vaccine mandates appear to be working. they've been shown to boost compliance and california announced they'll be adding the covid vaccine to the list of covid vaccine requirements as soon as the fda gives its full
approval by young people. i am joined by dr. peter hotez, he is also the dean at bail lor college of medicine. thank you for joining us. i want to ask you first, you know i've always been suspicious of vaccines or drugs when they come from drug companies particularly publicly traded drug companies and i like to hear this from experts like you. it's got a drug. >> it's a small study, it's 775 individuals with covid, half who got the pills, half who did not, but there was a pretty striking reduction in hospitalizations, 14% versus 7% and here's the extra piece and there were eight deaths in the control group, those who did not get the medicine and that's yet data
safety monitor stopped the study and said hey, we have something very important here and merck and company feels it's sufficient to go ahead and apply to the fda. so it could be a very important development especially for those globally who don't have access to getting the vaccinations and merck feels like they'll work with generic drug manufacturers, just like they did for anti-hiv drugs to see if they can make this success frl globally. the key message, though, is this is not a substitute for vaccination, and if you're fortunate enough to get sick with covid, this may give you an extra layer of protection in terms of going to the hospital and you'll lose your life. it's really important to point out this is still a very modest-sized study. >> i was talking to dr. scott gottlieb former head of the fda
yesterday and he outlined the same concern that i heard in your voice and that is for people that are not getting vaccinated and for all of the pressure that's being put on them to get vaccinated, does a drug take some of that pressure you have? so here's what we don't want to happen and we don't want this to be ivermectin version 2.0. the thing is ivermectin doesn't work and this one does seem to have some effect, but in terms if you're serious about trying to save your life or the life of your loved one, get vaccinated and that is the most efficient and most effect of course way of doing this. this will reduce the likelihood if youio are unfortunate enough to get sick, but getting vaccinated is the overwhelming choice for how to save your life. dr. hotez, good to see you. thank you for being with us during the entire pandemic. >> and he is the dean of the national school of tropical medicine at baylor college of
medicine. abortion is health care. simple as that. it's a safe, common medical procedure that nearly one in four women will undergo by the time they reach their mid-40s and this week during a congressional hearing, several members of congress underscored this fact by sharing their own personal abortion story. so this morning as protesters gear up for hundreds of rallies across the country in protest of texas republicans abortion ban and the supreme court's decision to let it take effect, let's take a moment to listen to these women's stories and stories like theirs are incredibly common. >> i answered the door, and quietly told him he could come in imagining that we would talk and laugh like we had done over the phone, but the next thing i knew he was on top of me, messing with my clothes and not saying anything at all. i knew it was a decision i had
to make for myself and i did. my abortion happened on a saturday. my body ached and i had pleading and i felt dizzy and nauseous and i felt alone and so resolved in my decision. choosing to have abortion was the hardest decision i had to make, but at 18 years old i knew it was the right decision for me and it was freeing knowing i had options. >> my mother asked me if i wanted to get an abortion. she didn't demand and forced me and understood that this was my personal decision and a choice that i needed to make and she would support me regardless. once i made this decision prayerfully one of my mother's best friends in el paso helped me access the abortion i could not get in california. when my mother told her what was going on she told my mother to send me to her in el paso because she knew of a good, competent and compassionate doctor, yes, who had a back
alley clinic in mexico, and i just turned 16. i was one of the lucky one, madam chair, a lot of girls and women of my generation, they died from unsafe abortions. in the 1960s, unsafe, septic abortions were the primary killer, primary killer of african-american women. >> i knew i was not ready to have another child so i religiously took my daily contraceptive pill, despite that i became pregnant and i consulted with my doctor who told me any future pregnancy would also likely be high risk to me and the child similar to what i had gone through. i decided to have an abortion. two decades later i think about those moments on the table in the doctor's office, a doctor who was kind and compassionate and skilled, performing abortions in a state that recognizes a person's constitutional right to make their choices about their reproductive care. for me terminating my pregnancy was not an easy choice, the most
difficult i've made in my life, but it is my choice and that is what must be preserved for every pregnant person. >> joining me now is my colleague tiffany cross of "the cross connection," good morning my friend, you have one of the congresswomen that we just heard from, representative barbara lee. that is some of the most compelling testimony i've ever heard because these are -- it just makes this real. it makes it real for people who think abortion is an abstraction for other people. >> you're absolutely right, ali. you hear their testimony and it is gut wrenching to hear what women go through to have safe abortions. so, yes, the congresswoman's testimony was deeply person and it is quite common among women and even as she spoke about as a teen going to a back alley abortion clinic to mexico. you can't force a woman to carry to term and it only puts women's
lives in danger and we'll talk about herr concerns that we may be headed down with the slow erosion of row. v. wade and i'll be talking to ruben gallego and is a member of the house progressive caucus on the infrastructure and reckon sill yagdz bill. today marx the 20th an verse row where soul train launched. >> i'll give you a hint, and i'll see if you can guess it. i'm looking for a new love, baby, a new love. >> jody watley. >> that's right! jody watley will join me on "the cross connection" and it will be filled with entertainment and information. >> i love it. >> that we hope will leave the viewers wanting more. thanks so much, ali. i'm always thrilled to share the screen with you saturday morning. >> and you, my friend. we will see tiffany at 10:00 a.m. and stay tuned for "the cross connection" right after
"velshi" on msnbc. the house committee on january 6th is out with subpoenas for trump associates and people in his orbit, and if those individuals think they can defy these court orders they have another thing coming or congressional orders. i'll tell you who is being targeted with jamie raskin on that committee. he's standing by. more "velshi" in just a moment. living with bipolar depression. i just couldn't find my way out of it. the lows of bipolar depression can take you to a dark place... ...and be hard to manage. latuda could make a real difference in your symptoms. latuda was proven to significantly reduce bipolar depression symptoms and in clinical studies, had no substantial impact on weight. this is where i want to be. latuda is not for everyone. call your doctor about unusual mood changes, behaviors, or suicidal thoughts. antidepressants can increase these in children, teens, and young adults.
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the house select committee on january 6th is enlisting new tactics to compel cooperation in its insurrection investigation. last night congressman benny thompson who was the chair of the committee told nbc news that the panel has begun meeting with voluntary witnesses, but it also says it will issue criminal contempt referrals for witnesses who are subpoenaed, but defy the orders. this week the committee issued 11 new subpoenas to people who were either connected to the former president or groups that organized pro-trump rallies before the capitol ri on the. the panel is seeking documents from maggie mulvaney, former trump campaign staffer and niece of former acting chief of stave staff mick mulvaney, who is a current republican staffer also campaign aide katrina pearson who was reportedly a liaison between the white house and the organizers of the january 6th rally. as the house select committee continues its work the disgraced
ex-president is trying to gum up the process. he is planning a lawsuit for the the release of the white house records invoking executive privilege. it's a lot. joining me is jamie raskin of maryland. a member of the house select committee on the january 6th attack and he was a former lead house manager in the second impeachment trial of donald trump and he is a constitutional expert. congressman raskin, it is good to be with you, thank you for being with us. i want to start by understanding this concept of criminal referrals because most of us will never be subpoenaed to congress so we won't really know what are you supposed to do and what does the threat of criminal referrals mean? >> those are two different things. the criminal referral is if our select committee on january 6th comes in possession of evidence related by criminal conduct by people this the department of justice is currently unaware of, we will refer it to them.
in other words, if we have crimes that took place that the doj didn't know about we will send it to them. for subpoenas, we have all of the same authority that a court would have to issue subpoenas. so if you get one of these subpoenas that is not an optional thing. that is legally mandatory and we can coerce your cooperation through criminal contempt or civil contempt or what's called the powers of congress where we can call people before congress and find them and use our own sanctions and that hasn't been done for a long time, but i don't think anybody should be testing our patience at this point. >> what about donald trump testing it? what about donald trump saying this is executive privilege and his group of people attempting to stop you getting information or testimony. >> well, legally, i think it
will be fruitless on his part, but before i talk about that everyone should register for a second what we're talking about here. the president of the united states is saying he doesn't want to give testimony or relevant evidence or he will prevent other people from giving testimony or relevant evidence to the united states congress which is investigating the worst attack on the u.s. capitol since the war of 1812, and the president is trying to sweep everything -- the former president is trying to sweep everything under the rug. that's remarkable. luckily, the ball is basically in the court of the current president under the laws that we have governing the release of this information and the last several administrations have released -- released testimony and evidence from prior administrations. so obama released stuff when there was an investigation into, remember, the torture memos released stuff from the bush
administration. the bush administration released stuff during the 9/11 investigation from clinton and the prayer bush administration and so on. so we really think it will be up to the biden administration which has signaled its eagerness to participate in getting to the bottom of this attack and as for executive privilege, that really belongs primarily to the current president to the extent it's been offered to current presidents and it's in weak form because it's tested the public's interest, here both of those interests are on the same side. the public wants the trouth and we need the truth in order to protect security of the government and the security of the people against terrorist attacks like the one we saw on january 6th. >> there's nobody smarter on how the system works and what
happened on january 6th because of what happened not only as impeachment manager, but you were there. i want to get greater clarity on the criminal referral that i asked you, you said we're going to subpoena them. they're going to follow the law. that's it. if any of them think they can slither away from this, they should be worried about the information we've already got. when he said we'll offer criminal referrals is that for not showing up or not giving the information that you requested or is that the fact that they may be underlying criminal activity. >> it could be both. when we come to people that have committed crimes on january 6th, we will turn that over, but at the same time the chairman has signaled our determination to get all of the information we're asking for. it's just not discretionary or optional. it's the government's subpoenas or documents from you, you have to testify unless you will
assert a fifth amendment privilege against self-incrimination and we don't think that that exists. if someone like president biden would want to come forward hypothetically or someone else and say i'm exercising my privilege against self-incrimination and that sets off a whole other process where they could be given use immunity. in other words, we will immunize you from use of any information you give us, but you do still have to testify. so that's possible, too. the point is we're not going to play these games during the trump administration lick they tweeted a subpoena, and that's not what it is. this is deadly serious stuff. we're asking for the information and we owe a com pro hencive report to the american people about what took place and what changes we need to make through the entire system of government and security in order to protect
democracy against right-wing, violent extremist attack and political manipulation and clues. >> congressman raskin, good to see you. we are always smarter after you give us the granular explanations for those that are not as familiar with it. jamie raskin is a member of the house committee of january 6th and he's always able to usher us through all of these. >> as those who know me know i like hats and i'll put my economy hat how interest rates and inflation and all of that affects you. to the owner of a large manufacturing firm. i've got anywhere from 10 to 50 projects going at any given time. i absolutely have to be sharp. let me tell ya, i was struggling with my memory. it was going downhill. my friend recommended that i try prevagen and over time, it made a very significant difference in my memory and in my cognitive ability. i started to feel a much better sense of well-being. prevagen. healthier brain. better life.
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the u.s. government is dealing with a couple of different money issues right now. the first one was a crisis averted tore now. president biden signed legislation on thursday na dodged a partial federal shutdown and will keep the government funded through december 3rd. the second has to do with our debt ceiling, which is a limit on how much the u.s. can borrow by selling bond to help pay back all of its debt. now all of this has to happen soon, treasury secretary yellin said, quote, if the cap isn't raised, the u.s. could face a financial crisis and economic recession. now, here in america, we got a whole lot of debt, 28.8 trillion to be exact. that's more than the country's entire gdp for a year. more than all the goods and services america produces. it's a lot of debt. we got to this point after years of the government creating what
it takes in. the accumulation of all those deficits plus all the interest on them is the debt. it goes up in two ways. you spend more than you take in, in tacks, you lower taxes and take in less than you spend. national debt is an extraction to most people. it goes up, people worry about it for a while. they forget about it because nothing seems to break. it's a fact that not raising the debt ceiling is actually dangerous. some conservatives want to do it to guarantee government spending falls in line with what the government takes in, in taxing. critics argue that one it's money we've already spent and fought paying it will have the same effect as a business or individual not paying their debt. an increase in the cost of borrowing, which increases the debt even more. that matters to you. when the government pays more to borrow. so do you. the cost of your mortgage will likely increase, or your car loan or student loan. the net effect of increasing the
cost to borrowing is to slow down the economy. which brings us to government two, the economy is doing pretty well. all of the money that the government put into the system to make up for covid shutdowns, has had the effect of increasing spending. people are buying things faster than they can be built or shipped. that's causing a lit of inflation. the tool the federal reserve has to lower inflation is raising interest rates. think of the economy that has a car with only a gas pedal and brakes. lower interest rates are the gas, people borrow more, spend more, higher interest rates are the brakes. people borrow and spend less and the economy slows down. these two things, debt and inflation are separate but connected. if the government fails to raise the debt limit. interest rates could go up slowing the economy down. if the economy slows down, they
are raise it to slow it down. it's a policy decision made to speed up the economy or slow it down based on supply and demand. finally, if your head isn't exploding yet from this morning's exec lesson, there is one more way that can contain inflation, is for the government to stop spending as much or cut back on existing spending. this
is the argument conservatives the and joe manchin and kyrsten sinema are using against the bill stuck in congress. they say if the government puts that much into economy, stuff will cost more. interest rate may also need the increase. this is a lot. it's important to understand. it's the basis of the debate on capitol hill right now and it affects you, joining me now is the former economist for the sec, the securities and exchange commission. she now serves as co-president of alliance partners. that was a lot. tell me what i got wrong or
missed. >> well, i think you got everything right. if we can go back one moment. i love the way you described speaking about the debt ceiling. it's so easy to make this ab tract. at the end of the day i find fascinating, at least in the back of my head, there is not this mysterious concept the government is congress. congress controls how much we spendp they have the authority. they control how much
we earn as you said taxation. so they decide how much comes in, how much goes out and the difference, which we like to spend more than we take in, is the deficit. we need to de-fund that by issuing debt. it's the same as if i earned $100 a month and spent $110 and the went on for some time. i put that $10 for fall on a credit card. one day i decided i'm not going to pay that i'm not going to pay my bills area. i say, i have nothing to do with this. i absolve myself of this responsibility. this is someone else's problem. no, it svenlt i made those
decisions. with the debt ceiling, it's the exact same thing. congress decided how much to take in, it's so interesting every time we get to this circumstance we draw our hands up and say, where did this come from? >> it is a mystery this inflation thing is real for some people. you go out there, you are paying more for it. if people are on a fixed income, they are feeling that. the reconciliation bill is that it will heat the economy up too much s. that a good argument? >> you know i'm not sure. i think there is valid reasons. i think there is a lot in that bill that really improves the quality of life for so many people. i think it increases their spending power. they spend on additional services and goods and stimulates the economy and seems like additional tax revenue. its not a zero sum game where you put more into the economy.
you pay people more. all of a sudden we have inflation. good things happen with that extra money into the economy. yes, we've had a lot of deposit stimulus, particularly over the last year-and-a-half. there is a lot of how demand increased in some areas, a lot of people in certain situations do have more money to spend. i don't think there is a clear answer. >> at the time there was a lot of people that thought this is positive. >> it's funny, i think back to that time those numbers seem huge. the whole program was 700 become. the program i spent most of my time on with the banks with 200 become. those numbers were extraordinarily. relatively speaking, it wasn't that time ago 200 billion seems
like a line item. i think it's hard to get your head around these numbers and what they could mean for home healthcare workers. lots of large groups in the economy. >> thank you so much for joining us. we appreciate it. this is a tough topic. it needs to be discussed. the asset relief, co-president and alliance part first. that does it for me. thank you for watching. catch me back here from 8:00 to 10:00 a.m. eastern. go nowhere, the cross connection with tiffany cross begins right now. >>. >> everybody -- it's a part of the government. look, one of the thing i love about you guys.
buying thousands, biden is going to work like hell to make sure we get both these passed. i think we will get them passed. >> all right. good morning, everybody, we have a jam-packed show. but we begin the cross connection with chaos on capitol hill. president biden sound optimism as he met with democrats on capitol hill friday. now congress went home would you tell a vote on the infra fracture package. nor did they vote on the $3.5 president's social spending bill. that bill would be expanding medicare, lowishing the cost of healthcare and prescriptions and increases in investments and hbcus, provides funding for free community college and universal child care and this would all potentially raise millions out of post.