tv Headline News RT October 2, 2013 8:00pm-8:31pm EDT
coming up on to our t.v.'s sorry we are close signs are still up and we're now on the second day of the federal government shutdown the latest from capitol hill as the shutdown debate drags on and with the government shutdown comes concerns but the bigger fight may be over the debt ceiling so who does the white house turn to for advice about j.p. morgan chase c.e.o. jamie dimon if wall street with all its reckless behavior should be advising the white house and the top leaders of the u.s. intelligence agencies are back in the hot seat on capitol hill senator saw more information about n.s.a. surveillance and ways to limit its expansion more on today's hearing later in the show.
it's wednesday october second two pm in washington d.c. i'm sam sachs and you're watching r.t. and we begin with day two of the u.s. government shutdown now in just the last hour a meeting at the white house between president obama and congressional leaders wrapped up and the result no deal i believe based on what we have seen the performance of the tea party driven cruz led. house now no longer in the senate it's now in the house. i think that. it looks like these people are headed where they want to go michele bachmann said finally finally we're where we wanted to be we've closed down the government she's not alone. and so the shutdown continues for many more than eight hundred thousand federal employees will remain furloughed in talis services and government functions
around the nation will remain shutter the national institutes of health is shutting down its cancer trials this week and indefinitely moving forward as the government remains shut down roughly two hundred patients including thirty child cancer patients were to begin cancer trials this week now they won't also while state's food stamp programs are still up and running the federal program is not operational meaning the longer the shutdown continues impoverished families and children depending on food stamps will see their lifelines dry up there are also questions about the safety of food in the united states now as a bulk of food and drug administration inspectors are furloughed and each day roughly eighty food facilities around the nation are foregoing their necessary inspections all told we're looking at three hundred million dollars in lost economic activity in the united states for every day the government is shut down and economists forecasts that if the shutdown continues for two to three weeks it
could drive down projected economic growth in this fourth quarter a full point and a half so clearly pressure is building on lawmakers to come up with some sort of deal but right now they're pretty open about saying they have no clue how this budget impasse will resolve itself and earlier i spoke with democratic congresswoman carolyn maloney and i asked her what she's hearing on the hill about any resolution to this shutdown standoff. i hope it'll be resolved immediately but no one has a clue we're hearing all kinds of rumors that will be here this weekend some say up to the debt ceiling day which would be october seventeenth there are lots of rumors and none of them good last in this debate is the actual spending number associated with the spending bill to reopen the government democrats in the house and senate have given in to republicans and agreed to this low spending number that republicans wanted one that preserves the sequester so no matter how this issue is resolved if it's result in the next few days americans are sure to see more
austerity coming down the pike what effect is this austerity now persisting for about two years having. we've certainly lost the g.d.p. we've lost numbers of employment because of sequester ration they have laid off numerous people we've cut spending on on medical research and on our infrastructure that and our education that are all important investments for the future so so it's a devastating effect on the overall economy and some republicans say it can't even say yes when they when we've agreed to the c.r. the continuing resolution of roughly eight hundred sixty nine billion dollars which is a clear seventy billion less than what the senate agreed on earlier and it's even less than the ryan budget so there has been a severe cutbacks already and on top of that too to have a shutdown it hurts our economy moody's economist says that for each two to three
days we lose point two percent of our of our of our g.d.p. rating and of our of our of our ratings and it's a very serious thing and it shouldn't happen in the longer where we're out the worse it's going to be. let's let's talk tactics here for a second this is the seven the budget showdown between president obama and congressional republicans in the last two and a half years and it seems like in each debate republicans bring in an issue that's unrelated one year was funding for planned parenthood another year was cuts to entitlements what would happen if democrats began employing the same strategy i mean what if democrats put it on the table gun safety reforms or a public option do you think that would create more dysfunction or might discourage republicans from using this tactic in the future i think that one one negative and one bad action shouldn't be repeated. our position is that you should not add these poison pills to the budget totally unrelated aspects we've had the debate on the
affordable care act we've had the debate it has passed the congress been signed into law by our president that was challenge to the supreme court the supreme court affirmed the law and actually october first the exchanges have opened up and they've been jammed with people getting information and signing up for the affordable care act so it's absolutely incorrect wrong i think down filly to to add this to to the budget if you want to have a debate on the affordable care act let's have that debate and vote for it separately well over forty times the republicans have brought to the floor of congress the the desire to defund obamacare and they've lost well over forty times and they're still trying to attach it to the budget it's unrelated items to the budget should not be attached to the budget paul ryan hinted here in the house
republicans may take this fight all the way to the debt limit deadline arguing that that is what will ultimately bring both parties together what's your response to this tactic. i think it's terrible and i think it's not being a responsible and it is a totally manufactured self-inflicted wound to our economy our economy still fragile and for them to play around with our economy is just plain wrong and devastating to to the economic growth we should be focusing on the latest news coming out of the house is that the number of republicans calling for a clean spending bill has jumped eighteen meaning the house now has the votes if you include democrats to pass a clean spending bill what sort of outreach are democrats doing to these more moderate republican members to put pressure on speaker john boehner to bring clean spending bill to the fore. well one of the most active and and really
articulate leader in this effort is peter king from the great state of new york and of course peter king is is negotiating this and speaking loudly and clearly about bringing a clear clean c.r. to the to the floor let's bring a clean c.r. they can't even say yes to their own budget numbers so so it's just damaging to our economy and it's. my my my my constituents are outraged and they're angry this is not the type of behavior you expect from the world's leading democracy and legislative body it sounds more like a five year year olds in the playground it's my way or the highway if you don't give me what i want i'm i'm pulling out and i'm stopping it and i'm going to stop the budget from going forward so it's inappropriate behavior it is harmful to our country and i hope that that there will be in agreement i know that the leaders on
both sides of the aisle are meeting with the president ited states as we speak right now so hopefully an agreement will be made that opens up our government and allows the many many people that have been furloughed and have lost their their pay and and really have been hurt we're hearing stories about veterans that can't get the benefits the the activities and benefits that they want that the parks are closed the district of d.c. is closed this is really harmful to individuals to people who are expecting to be able to access and and have certain things and it's certainly terrible absolutely terrible to our overall economy and there was united states representative carolyn maloney on capitol hill so how long was to shut down last well on tuesday republican budget chairman former vice presidential candidate paul ryan hinted at house republicans are willing to push this fight all the way to the debt ceiling as
i mentioned a second ago. here's what he said they have a definite they don't have it is coming in about two weeks and those luxuries in the past have always involved a limited choices we think that's the forcing mechanism just like political life that president obama signs for all i told him or when brother or like him and i said it or not and anybody agree with all those bloody things came together because of debt limits that's what we think will be the forcing actually embraced the two parties together now while this budget shutdown is having significant economic impacts a failure to raise the debt ceiling in a few weeks could be catastrophic to the entire world's economy now to avert this economic meltdown the white house is enlisting some advice from an unusual source today bank executives including jamie dimon from j.p. morgan chase met with president obama to discuss the debt limit artie's liz wall has more on what bankers like jamie diamond may offer and his looming debt limit
showdown. so if the government shuts down under way the clock is ticking to the next big deadline on october seventeenth the u.s. will hit the debt ceiling putting the country at risk of defaulting on its debt president obama is scheduled to meet with bank executives over the debt ceiling among them jamie diamond the c.e.o. of j.p. morgan president obama has touted mr diamond for his financial expertise. j.p. morgan is one of the best managements there is jamie dimon the head of it is one of the smartest bankers we know this is the best or one of the best managed breaks where you could have a bank that isn't as strong isn't as profitable making those same bets and we might have had to strip him. of the meeting with president obama and mr diamond comes as the bank finds itself in hot water the justice department is now investigating j.p. morgan for allegedly misrepresenting toxic home loans it sold according to the wall
street journal the bank is offering the government three billion dollars to settle regulators are reportedly looking for a levin billion dollars it would be the largest fine in u.s. banking history and this is the first legal snafu for j.p. morgan under diamond he had to go to the hill to defend the london whale the billions of dollars of trading losses the banks suffered after a very risky head that did not pay off but lawmakers seem to be forgiving. you're obviously renowned rightfully so i think as being one of the most you know one of the best c.e.o.'s in the country for financial institutions but let's not forget that j.p. morgan was among the banks that benefited from the taxpayer bailout in two thousand and eight as head of the banks i mean oversaw the transfer of twenty five billion dollars from the u.s. treasury department being in relatively good shape compared to other big diamond said he didn't really need the money but took it anyway because the treasury. terry
told him to either way j.p. morgan is among the banks that many still call too big to fail. after the taxpayer bailout some lawmakers are worried that we have learned nothing from the recent past. we like to go to the question about to need to fail that. we haven't gotten rid of and so now we have a double problem and that is that the big banks big at the time that they were bailed out the first time have gotten bigger. but despite the legal battles and the criticism there are plenty of people backing diamond hailing have as a banking hero his supporters believe he is one of the special theory that smart enough to manage a big bank even with all of these losses the company continues to churn out you know tens of billions of dollars in earnings and hundreds of billions of dollars in revenue how do you criticize that. i think
a lot of their earnings in revenue we've seen it come from really should be doing their thing. but at the end of the day that is his job to make money and the numbers show that he's doing an excellent job with that question is at whose expense and washington our team now for more on wall street's influence on the white house and what role it may play in the upcoming debt limit fight i was joined earlier by bart miller the financial policy advocate at public citizen and i first asked him if he finds a dog that while president obama is trying to avoid a global economic crisis he's also seeking advice from those who are partly responsible for the last global economic crisis well i read. in wonderland so it makes. perfect sense that one week jamie diamond meets with with eric holder our attorney general which i find very nice because apparently pretty much every day j.p. morgan is revealed to have violated some rule massively and you know the recall.
doesn't seem to want to speak to victims but he does have the time to speak to a person apparently responsible for this four trillion dollar unmanageable obviously unmanageable empire and then the next week he comes and offers his wisdom to the leader of the free world. what's weird is i actually probably agree with what jamie but the advice that jamie dimon proffered to our president today in that advice runs contrary to what the far right flank of house republicans in congress are pushing it seems like what do you make of this disconnect with with the far right kind of saying no to these people who they seem to be so cozy with in previous well now that i've begun to. read more tea party things some of the pixels are beginning to form a little bit more with more crystalline structure they are they're not all the same oh they're all the same and they hate obamacare home do they hate obamacare in fact
i was trying to get them to talk more about larry summers and why they would not want him the architect of the stimulus but couldn't they just all want to talk about obamacare some of them actually have fact based opinions not many but some of them and yes there is i would say integrity to their train of thought now i also think that some of them do not have fact based opinions and are ready to burn down the house to make a point that the kitchen needs repainting. and i think that we're seeing the last i saw fourteen republicans have pledged to vote for a clean resolution continuing resolution so we're three three people away maybe it's changed even the last couple of hours three people away bringing eight hundred thousand workers back. i doubt that anybody will be from the tea party driven how this debate over the government shutdown is going here and we now shut down the government so whatever debate leading up to it is failed and we know there was no
agreement made how concerned are you now with two weeks to go to the development fighting republicans making these same demands and do you think wall street at some point can intercede on the side of reason to pay for i mean preventing this again jamie diamond and lloyd blankfein control what i would call rational money or have influence over rational money but go to iowa they i would district that you know king king representative king i think that he is not advised the people that he believes he needs to win the support of art aren't the wall street connected type i don't know what who they are but they are they listen to hate radio and that's where they they are but their bias is formed by just slander if you will. so i think the influence that wall street has is over rational. republicans and rational democrats who know that they want to get wall street campaign money and so they have to do made as instructed voting which they almost
did on tuesday they're going to the taxpayer bailout or taxpayer back gambling it's called h.r. ninety two but you know who stop them the tea party they said excuse me with the whole world watching you want us to pass a bill guaranteeing f.d.i.c insurance for gambling i think we in the tea party don't want that so another queasy place i am i'm actually agreeing with the tea party thank you very much for stopping this absurd taxpayer bill and much as i disagree with you on obamacare at the center of this debate is debt you know republicans are focused on debt in a lot of democrats are focused on debt how is wall street's culture and financialization fueling our growing debt in the united states are not just talking about bailouts but just their general business practices day to day well you raise packed in your question is many tomes of economic research so i know in limited time let me just try this wall street is agnostic about what you and i might call
bad how much debt whether there's a balanced budget wall street simply profits by predicting the direction of something and if the direction is what we would call bad they'll make money if there's action is what we call good they'll make money they don't care about deficits other then to the extent that we can't make a payment because they have contracts that depend on that treasuries are still going to be good and a lot of their profits depend on that and not to mention i guess when market downturns investors know how to make what i'm going to show you as well the smart ones to cardinal or financial policy advocate a public citizen thank you so much. the government shutdown debate is really expose the deep divisions between democrats and republicans in congress on the other hand the recent revelations about the n.s.a. spying activities are actually bringing both parties together in the house and in the. senate bipartisan legislation is moving forward to end the n.s.a.'s massive data collection on american citizens and provide more transparency to the top
secret foreign intelligence surveillance court now in the face of this push to rein in the n.s.a. the top intelligence officials in the united states testify that senate hearing today director of national intelligence james clapper and keith alexander the director of the n.s.a. have been regular fixtures on capitol hill getting grilled by members who were only informed about the intelligence community's activities thanks to edward snowden's leaks but today alexander admitted to once testing whether the n.s.a. could track american cell phone locations but he did deny an article published in the new york times on saturday that said the agency was creating social graphs of american citizens detailing who they're associating with now not all lawmakers are convinced that the n.s.a. needs considerable reform senator dianne feinstein the chairwoman of the senate intelligence committee vowed today to protect the n.s.a.
i so regret what is happening i will do everything i can to prevent this program from being canceled out there's going to be a bill in my committee to do it there's a bill in this committee to do it it is legal we are looking at increased transparency we are looking to make some changes in but we are not looking to destroy it to destroy is to make this nation more vulnerable so republicans and democrats may agree on curtailing usa powers but there are deep divisions within both parties between leadership like senator feinstein and rank and file members like senator ron wyden or congressman justin amash and exactly what n.s.a. reform looks like if it ever happens depends on who wins this debate between leadership and the rest of congress. movie on federal workers aren't the only folks paying close attention to what's happening in congress this week so too are many
iraqis that's because at midnight on tuesday not only did the government shut down but so too did a special visa program that allows iraqis who worked with the american military during the war to emigrate to the united states that program was created in two thousand and seven but has been bogged down due to security concerns it was designed to dole out twenty five thousand visas over five years but less than half of those have actually been issued and so far this year the state department has only granted four hundred fifty four pieces just before the expiration of the program on monday night the senate voted to extend it senators john mccain and jeanne shaheen released a statement saying quote these brave iraqis risked their lives to protect americans and many of them are now living under constant threat of retribution the united states has a moral obligation to stand with those iraqis who stood with us we cannot and we will not abandon our iraqi partners it's now up to the house of representatives to
hold a vote extended the program. now a two thousand and eight law intended to prevent aid in military assistance to nations that employed child soldiers is again being scaled back at the white house at the end of last week the white house issued a memo noting that quote it is in the national interests of the united states to waive the application of the prohibition of the child soldiers prevention act with respect to chad of south sudan and yemen the white house also partially waive prohibitions on military assistance to the democratic republic of the congo and somalia now under this directive chad south sudan and yemen will be allowed to receive military assistance from the united states somalia and the democratic republic of congo will so also receive military assistance but there will be some more restrictions placed on it and all of these nations are on the list of ten countries determined by the u.s.
state department to use child soldiers this is actually the fourth year in a row that president obama has lifted some restrictions contained in this five year old law aimed at preventing child soldiers in some of these countries especially yemen and somalia are instrumental in the u.s. global war on terror and the white house is concerned that cutting off military aid to them may jeopardize their counterterror efforts. and the mainstream news media often throws around the word terrorists to strike fear into the heart of their viewers but lately they've gone too far in are using their fear mongering words to make their viewers scared of food reformers people who just want us to eat healthier for a look at that the residents lori harvest. in
today's class the world the word terrorist is thrown around as often as whatever or hitler and that could be because in killing terror in people is a great way to scare them into thinking the way you think and these on the present terrorists don't just limit their fear mongering to issues like war and religion they focus on everything including our food just check out this weekend headline from the always reliable huffington post it reads possible eco terrorists attacked genetically modified put taiyo on the big island the story is about how one hundred genetically modified papaya trees were hacked down with machetes in hawaii and how
people believe it was an act as terrorism perpetrated by people who are against g.m. food these buddhist terrorists are so against anything genetically modified that they are willing to attack trees and that is scary to the terrorists have done their job well they have made a scared of getting papayas now and that is the mission of all these food terrorists whether they are hacking down trees holding rallies but to doing the white house are just tweeting they are determined to stop us from getting any better not eat meat cow farts are causing global warming and will kill us all if the end of addicts that cows are injected with do it first can eat fish. anymore the little phoebe's are either irradiated. or covered in oil from b.p.'s gulf spill and don't even think about going near the gluten as
a protein substitute not only will it make you fat i eat the lining of your small intestine and not always that probably made from g.m. but it's basically the devil the pooh terrorists have terrorized us about eating everything to the point now where it's almost impossible to eat anything. we want to win this war on food terror it might be time for the government and the agribusiness that they partner with to certainly will include being absolutely jerks to animals and third actually caring about the health of our po'd as much as we do until they do will be to theran it to eat anything and food terrorists will have won tonight let's talk about that by following me on twitter at the resident. and finally we know there's been
a few late nights on capitol hill as members try to strike a deal to reopen the government and those long hours appear to be driving members to drink several capitol hill reporters have described the smell of booze wafting off the house floor as members come and go but this drinking binge may not be exclusive to the shutdown debate as congressman alan grayson recently told sloan drinking on the job by republican house members has been a problem all year long yet it it's a fact we all have to live with and it's making them violent and abusive towards america. of course some have wondered what is driving republicans to risk their own political future to shut down the government and to defund obamacare while two words liquid courage and that is going to do it for now for more of the stories we covered go to youtube dot com slash r t america or check out our website r t v dot
com slash usa you can follow me on twitter at sam sax and don't forget to tune in at nine pm for larry king now tonight's guest is the actress alyssa milano where she'll have much to share about her scandalous new show and much much more until then take it easy. i would rather as questions to people in positions of power instead of speaking on their behalf and that's why you can find my show larry king now right here on our t.v. question or. missions