there s a group of them, certainly. what about senate republicans? are they saying the same thing or no? reporter: there are some that have said that. rand paul has said you could go through the debt limit and not have particularly adverse consequences. but the thing is if you talk to any economist who comes from a reputable institution, they will tell you this is an absolutely catastrophe to not only the u.s. economy but the world economy. the united states economy is what the world economy is essentially based on. this is considered the safest place to invest. if we don t pay our debts, then we become the laughingstock. there s bipartisan agreement on both fronts on that. but the challenge becomes, when this deal presumably gets out of the senate, john boehner has to take that to the house. and you ll have a lot of house republicans that say, we don t want an extension of the debt limit, we can t add more to that $17 trillion number. and the question becomes, does he go back on a
cruz wing of senate republicans from holding anything up. because if it gets to thursday and they don t have a deal, watch for the markets to absolutely tank. there s bipartisan agreement on that front. those markets which heretofore have been largely unaffected by the nonsense in d.c. democratic senators spoke out just moments ago about their vote earlier. this is what senator chuck schumer had to say. the motion to proceed so that we could pay our bills failed because it didn t get the 60 votes, it didn t get the bipartisan support that we had hoped. this is playing with fire. we don t know when the markets will react to this. so we ve heard from some republican house members. in fact, i had one on last hour who have intimated that crashing through the so-called debt ceiling may not bring down liquid debt. reporter: the debt limit deniers.
reporter: as the leaves begin to change, typically this is the busiest and most profitable time of the year in the region. there are still some tourists here but not as many. for those businesses that rely on access to the park thousands and thousands of dollars gone. no recovery. reporter: this woman says the nature walks, hiking and backpacking trips she had booked would have provided 20% of her annual income. we all count on october to make our money to last us pretty much through the winter during the slower season. reporter: but right now, there is no season. we do this because we love the park. we love this area. and it s really devastating. reporter: and getting worse every day the shutdown continues. you can understand the emotion when you realize that the park provides more than $8 million in revenue to this area every year. 11,000 jobs to the region, many of those jobs on hold right now until there s some type of deal in washington.
go forward with the bipartisan bill? but the debt limit deniers crowd, if the markets go down and you see these reports coming out from goldman sachs which is very much on the right side of things in terms of political ideology, that the gdp of the united states could lose four percentage points if you had a default, that resonates with a lot of folks on capitol hill who use their brain frequently. luke russert, plainspoken as always, sir. thank you for your time on a saturday afternoon. i want to bring in eamon javers. he covers the market and politics for cnbc. simply, what happens if there is not a deal to raise the debt ceiling by october 17th? reporter: we get much closer, craig, to panic in the financial markets. we saw last week on thursday markets rally about 300 points just on rumors that a deal might be in the offing. you could see the reverse of that as we get closer and closer to thursday without any deal or signs that a dealmaking over the
home game. and celebrating columbus. we will take a look at the meaning behind the holiday. first, though, we go straight to capitol hill where earlier today, the senate rejected a plan to raise the debt ceiling through next year. luke russert has been standing by on the hill. we just got word a few moments ago that democratic senators are going to be meeting with president obama at some point here in the next few hours. what can we expect from that meeting? well, they re going to be formulating a strategy, craig. what they said right before the press conference before i came here, dick durbin, chuck schumer both said they re optimistic to get some sort of deal with mitch mcconnell and found him to be genuine in his overtures of negotiation. this all stems from a house republican conference meeting this morning at 9:00 a.m. of which john boehner and eric cantor informed their conference the white house has rejected their six-week debt limit extension deal. it s now the focus go