Page 40 - Borrowing Authority News Today

And you, know, lets be very clear about how wrong he is on that point. what he is talking about is prioritization. the argument is the treasury can pay some bills, not others. it is absolutely false that the treasury can do that even with the creditors. even with the folks it owes interest payments. there could easily be a day. mark will back me up on this. easily be a day where cash flow is less than the interest payments that have to go out that day. and at that point, you are, technically in ...

This. he has to decide to bring that to the floor of house or doesnt. if he brings it to the floor of the house, i would assume it would pass. >> before it gets there, it could be bogged down with ted cruz -- >> right, it does appear. i think they are moving toward a deal. i think well probably have a resolution this week. it may well go past thursday. we run out of borrowing authority on thursday. we dont go into technical default but run out of borrowing authority. we do know tonight, anderson...

What theyre closing on is reopening the government on january 15th, getting the debt ceiling raised through february 7th, and having broader budget talks, theyre promising to get that done before the holidays, weve heard it before, they have not followed through. and even if they seal this deal tomorrow they would have to work at lightning speed to get to the thursday deadline when we lose our borrowing authority, megyn. ed henry, thank you, as we learned the house would not pass a deal tonigh...

Senator marco rubio republican of florida explaining why he is going to vote no on this senate deal. the white house meanwhile is urging a quick passage of that senate compromise. the chief white house correspondent ed henry with more on that. bottom line is the white house is cautiously optimistic this is going to get done. they is seen these talks fall apart before. you will remember a lot of people thought we had a deal, maybe as recent as monday night between senate leaders and that kind of ...

Skepticism. its not done. we call on congress quickly to pass legislation that the president can sign so that we can reopen the government and remove the threat of default that has been looming over us for so many days now. yes. >> reporter: so investors are holding $120 billion in treasury bills coming due tomorrow. >> you get the sense that bloomberg is asking a question? >> should they still be worried that theyre not going to be paid? >> i would refer you to treasury. i would simply say that...

Is if the senate republican leader mitch mcconnell could deliver 25 republicans votes in the senate, more than half his conference. 40 republicans voted for the fiscal cliff deal, five of those no longer in the senate. thats your ceiling. theres 35 senate republicans who have voted with mitch mcconnell before. would they vote with him again on a giant deal that gets us out of a cliff mess? can they get anywhere close to the number? mcconnell, who spoke to the president yesterday and reid, are no...

A deal in not one but two budget messes the partial government shutdown and the battle over raising the debt ceiling. senate leaders say their talks are now suspended while they wait to see what the house of representatives does. thats new this hour. earlier today house speaker john boehner said he was talking about, quote, what direction to go in. mike emmanuel is live on capitol hill. what are key republicans in the senate saying now? >> reporter: i actually have some breaking news from the ho...

Crunch point being november 1st supposed to thursday, the 17th. >> as was made clear to congress in a letter from the treasury secretary, on october 17th, we cease toef have borrowing authority. we only have cash on hand. as everyone knows who understands how the process, would, that means we do not -- there is a scenario by which we will not be able to pay all our bills because of the fact that we need to borrow money in order to pay our bills. these are bills congress has incurred, obligations...

Said during that briefing the im for unsent has passed. basically, what the white house is signaling at had point and something that harry reid said on the senate floor earlier today is that we may be in sort of this danger zone, this red zone now. weve gotten too close to the debt ceilinging to avoid any kind of ramifications in the short term, a credit downgrade, what have you. it was curious to note jay carney using that sort of language. he was kicking everything over to the treasury departm...

Is it too late. >> im not sure what that means. they need to act as soon as possible. because what is absolutely true is that every day were in shutdown, theres harm done top hundreds of thousands of americans and indirectly to many x more and theres direct harm done to our economy. every day that we get closer to the point beyond which weve never been which is where the united states does not have borrowing authority creates more trouble for our economy and uncertainty globally which has a nega...