security will require a general revenue transfer of $2.2 trillion and medicare, a transfer of $5.6 trillion. when including the $2 trillion of resulting interest costs, the social security and medicare systems will drain $9.8 trillion of general revenues over the next decade. runrest of the budget will 1% of gdp. the long-term figures are more dire. the cbo 30 year baseline projects the social security medicare system will run a $100 trillion shortfall over the next 30 years. the rest of the budget will run $16 trillion surplus. specifically, social security will run a deficit of $18 trillion medicare will have 41

-- announcer 1: we're going to break from this. kevin mccarthy coming out in front of the microphone. complete briefing from the secretary of homeland, which focused on the border now. a violent mob rush yesterday where we had a challenge there, but we know we have a challenge along the border. we want to solve that issue, make sure we open this government up and at the end of the day, the president wants to solve this. that is what he has asked us to come back friday, after the leadership races to get this done. >> [indiscernible] >> i was a little disappointed with some on the other side. started,secretary senator schumer interrupted her and they didn't want to hear it. they challenged some of the points the secretary made. we are hopeful that we could get

more negotiation. the vice president has sat down with senator schumer, had given him paper, had worked to come to an agreement and find common ground. i hope we get more that today. hopefully, friday we will get there. >> [indiscernible] >> it doesn't have to last much longer at all. we can come to an agreement rather quickly. i know that is why the president thought maybe after the leadership races, people would be willing to come to an agreement. >> [indiscernible] >> mother become prizes on both sides? >> -- >> will there be compromises on both sides? >> what did senator schumer say when he interrupted? >> they want to go on with the bills they were bringing up tomorrow. the president has been clear that does not the bill he would support -- that that is not the bill he would support.

>> [indiscernible] is the pressure on you after tomorrow? itthe president has made clear that his number one responsibility is to keep this country safe. secretary nielsen wanted to go over some alarming numbers of things that happened at the border. last year alone, there were more than 3700 suspected terrorists stopped from entering this country. there are a lot of bad things happening and the reason he wants to secure the border, the bill that we passed in the house that started the negotiations was $5 billion for the fiscal year. they have not put a counter offer on the table. you saw the vice president negotiating. presidentent and vice stayed here over christmas and there was no negotiation from the other side. they want to keep delaying and have a government shutdown. >> [indiscernible] can you explain specifically how mexico is going to pay for this wall? what specific provision of the

usmca are going to give the money and if that money is coming, where you having this discussion about american taxpayers? >> because we have a crisis on the border. do you know in this caravan one third of all the women are being -- having -- some are being raped. we have children coming through. we have another caravan starting to come. we have a real challenge and that is why both sides can sit down, find a compromise that actually secures the border. we had everybody in the room so they want a secure border. this may be a combination to solve it, but i think that is why the president -- i watched him, he has been called through the session. he wanted to get going forward that is why we will be back on friday. we want to make sure this borders secure and this government is open. that is why we moved legislation. that is why the vice president went to the senate when we had

the challenge just a couple weeks ago, no counter offer came back. there was not a counter offer today and hopefully friday there will be. >> [indiscernible] will the women at risk of rate be granted asylum -- of rape be granted asylum? >> good afternoon. we just -- tomorrow, we will bring to the floor legislation which will open up government. it will be based on actions taken by the republican senate, bills that have passed on the floor of the senate by over 90 votes or are in committee unanimously.

led by senator mitch mcconnell. we'll also prevent -- present in a separate bill, the bill that mr. mcconnell did bill until fe, using his exact date. we have given -- we had given the republicans a chance to take yes for an answer. we have taken their proposals unamended by any house bipartisan amendments, but just staying true to what the senate has already done. our question to the president and to the republicans is, why don't you accept what you have already done to open up government, and that enables us to have 30 days to negotiate for border security. democrats have been committed to protecting our borders. it is the oath of office we take to protect and defend. it has been important to us, and we have committed resources when

we were in the majority, and we will continue to do so. i will yield to the distinguished member. >> the bottom line is very simple. we asked the president to support the bills that we support that will open up government. we asked him to give us one good reason. i asked him directly. i said give me one good reason why you should continue your shutdown of the eight cabinet departments while we are debating our differences on homeland security. he couldn't give a good answer. we would hope they would reconsider and would support the very bills that passed the 92-6, twour of them of them unanimously in the appropriations committee with mitch mcconnell's support.

the only reason they are starting -- shutting down the government is very simple. they want to try and leverage that shut down into their proposals on border security. we want strong border security, we believe hours are better. ,o use the shutdown as hostage which they had no arguments against, is wrong, and we would urge them respectfully to reconsider and support these bills which are bipartisan, one of which mitch mcconnell proposed, open up the government as we continue to debate -- debate which is the best way to secure our border. we hope it doesn't, and we hope they will not use the american people, the millions who depend on these eight departments, and

the workers who are either not working or not getting paid, as hostages to have a temper tantrum and say it is our way or we hurt all these people. they couldn't give us one answer why they wouldn't support the first bill leader pelosi and speaker pelosi and leader hoyer will put on the floor to open up the government. >> [speaking simultaneously] almost everybody in the room believes shutting down government is a stupid public policy. it puts 800,000 people who work for the federal government at risk, and it puts millions of people who rely on the federal daily -- on aan ♪ daily basis at risk. we will propose a bill that has gotten the support of the senate and the house. >> the white house says it is a

nonstarter. >> that is our responsibility as a coequal branch of government, to do what we think is right. for border security, but we are also operating for the people. >> [speaking simultaneously] the bottom line is simple. at our last meeting the president said i will shut the government down. they are now feeling the heat. it is not helping the president, the republicans, to be the owners of this shutdown. we give them an opportunity to get out of that and open up the government as we debate border security, and to say to them, because he says he won't sign it , will use the government as hostage, we should give in, the american people don't want that. that is not the way to govern. >> [speaking simultaneously]

asking the: president to open up government. we are giving him a republican path to do that. why would he not do it? >> thank you. >> [speaking simultaneously] schumer, senator schumer. senator. >> we would love if you stayed longer. we miss you. announcer 1: live outside the white house, we saw the republican leadership and the democratic leadership speaking about their meeting, just over now with the president. we will take you back to the hearing from the house financial services committee. >> and the interest cost for borrowing will add $31 trillion more. let's look at annual growth. next 30 years, the

social security and medicare annual deficits and interest tots will go from 2% gdp 12.6% gdp by 2048. the rest of the budget will result gdp surplus, as a of rising revenues and falling spending across the rest of the budget. the long-term debt problem is overwhelmingly a social security and medicare issue. to project projected growing surpluses, but it is not enough to have them large enough to balance out the $100 trillion short flow in social security and medicare. that is the ballgame. thank you. >> we recognize you now for your testimony. >> thank you, chairman, ranking member. i