U.S. Migration Driven by State Governments: Gregg

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Nov. 20 (Bloomberg) -- Judd Gregg, CEO at SIFMA, talks with Tom Keene about modern day migration in the United States and how politics and the next round of sequestration cuts will impact business in 2014. He speaks on Bloomberg Television’s “Bloomberg Surveillance.”

Ahead 2014 and your great concern -- the migration of the country.

My ancient ancestors came out of new hampshire and vermont.

Many ended up in illinois.

We're still doing that.

But for different reasons.

What you are seeing in this country -- people are constantly moving.

Jobs, family, land.

People seem to be moving because of state governments.

Examples of getting the rack together.

There seem to be -- getting their act together.

Productive people.

Jobs, family, land.

People seem to be moving because of state governments.

Examples of getting the rack together.

There seem to be -- getting their act together.

Productive people.

Jobs, family, land.

People seem to be moving because of state governments.

Examples of getting the rack together.

There seem to be -- getting their act together.

Productive people.

We are looking at 2014. business, finance for our viewers next year?

Big-time.

It is not a presidential year and it will not have the dominance.

It will have an effect on everything that happens in washington.

But always tremendously affects decision-making.

He says the sequester could be worse than the last sequester.

What should our viewers look toward the middle of january?

I'm going to guess congress is split and far apart.

Remember what the sequester is.

It is an arbitrary cut to discretionary spending.

It is an arbitrary cut to discretionary spending.

Discretionary spending has already been reduced by over $900 billion.

It is primarily to the defense.

They're supposed to -- the budget committee.

The two fronts of a war.

Is this defense department only going to be able to fight on one front?

One war at a time?

The defense department is going to have to suffer the take with a significant adjustment in its spending.

Does it come so quickly that it has to cut into people who are in the field?

That would be unacceptable.

Judd gregg here with us in chicago.

All-star lineup coming up today on bloomberg television.

At let's get to company news from johnson & johnson.

They are settling hip implant issues.

And they will pay at least $2.4 billion for thousands of dollars -- lawsuits relating to the hip implants.

Yahoo!

Is returning more cash to shareholders.

They're boosting the stock buyback by $5 billion.

That comes on top of the stock they have purchased since january of last year.

Sony has an explanation for all

This text has been automatically generated. It may not be 100% accurate.

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