Compromising Republicans News Today

Here. >> you need a lawyer. >> i know. to talk about what the options are. some of the options, we have a full screen on this. one is use section 4 of the 14th amendment. ignore the debt ceiling and pay our bills. mint a $1 trillion coin. or get republicans on board. i think the last one is the hardest. talk to me about what the presidents options are, michael. >> this would all make the founding fathers wig hair stand on end. these are the kinds of issues that they were grappling with in trying...

They can only last for ten days. the federal courts will close down. then, of course, we meet the number one disaster, and that is the pending debt ceiling calamity, which as secretary lew said, were already using extraordinary measures. >> congresswoman, let me just before i let you go ask you this question. there was this suggestion about an alternative proposal with this discharge petition as another strategy to try to get something done. as i understand, that would take us to about october 1...

Paying for. and as a result, this has been a routine vote. its happened more than 40 times since ronald reagan was president. never before has a party threatened to not pay our bills. except for 2011. >> well, with this republican party, never before has become the new normal. and theyre doing it again. take a listen to speaker john boehner this morning on abc. >> we are not going to pass a clean debt limit increase. >> under no circumstances? >> i told the president, theres no way were going to...

For -- for that over time. theres nobody right now out there to take our place. but if the united states gets into a place where its unclear if we can pay either legally or financially our debt, theres going to be serious consequences. >> thats a heavy load to have on the presidents shoulders. >> the bottom line is there are no good options. congress has said this much in taxes you can raise. this much in spending you can do. this much in debt is allowed. he may have to choose which unconstituti...

Thats not about new spending. >> thats correct. its as $16.7 trillion. the president is presently going to ask that it be raised to at least $17.6 trillion. the republicans are saying these are unsustainable. when you start to have interest rates according to the cbos report last year that approached 20% in less than 20 years, the question is, the government is going to default. whether itll default this year or in 20 years, i dont know. on this trajectory, it has to default because you cant wit...

Did some polling taking a look at whether or not there are going to be consequences in 2014 for gop incumbents. gop incumbents are trailing in about 17 house districts and democrats need 17 seats to pick up a house majority. how likely do you think it is, joan, this becomes an issue in the 2014 cycle? >> i think it will be an issue. i think the american people are fed up with this. weve seen over and over that even republicans dont want the government shut down and certainly dont want the debt c...

Amendments that were then -- that then were adopted and then republicans didnt vote for the bill. there was endless negotiation with people on the left furious at the way the president did court the chuck grassleys of the world. >> joan, thats a little bit of rewriting of history. >> no, im not. this is actually the way it happened. then he couldnt -- >> this bill was rammed through the middle of the night without a single republican vote. >> hearing after hearing of this bill went through the c...

Do to protect the economy. >> its possible for the republicans to get exactly what they want through this. as soon as we reach this place where the treasury secretary is out of the ability to borrow, spending equals revenue. immediate balanced budget. im not sure that the republicans, or at least some republicans, are going to mind that situation. >> except things suddenly start getting cut are social security benefits, medicare payments, true payments. all these things people dont want touched ...

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