Page 2 - Doesnt Default News Today

Drowning in red ink? and even if a last minute deal is reached well need another one several weeks late e and then another one? why is congress staggering from crisis to crisis? im wolf blitzer. we want to welcome our viewers in the united states and around the world. youre in the situation room. 30 hours from now, the united states faces the grim possibility of going into default on its debt and the credit rating agency, fitch, fitch has already issued a warning for a possible downgrade. ...

Question. ill go to amy for that. if this gets kicked down the road, forgive the cliche, im sick of it myself, if this gets kicked down the road, what is the negotiation, how does that work? >> thats whats so tough because we can see why with the clock ticking on default, we know mitch mcconnell and john boehner have no interest in defaulting. they would work with democrats in the final hour to push this off, but it is another punt, and the super committee failed when we last were at this point ...

Up to nine months. >> on the point of the medical device tax delay, ron, would that -- we have heard from the president. we heard also from harry reid. no negotiating when it comes to obama care. would that be seen as a concession from democrats? >> its difficult because the medical device tax is not central to the obama health care law and there are democrats who are critical of it largely because they have interested in their own states that are affected by it, but it provides the concession f...

Source i was talking to is saying theyre pushing democrats to do maybe even about the same length of time as this bill to fund the government. democrats, of course, are going to push for more time. thats a big part of the discussions im told going on right now, the date for the debt ceiling increase, and then lastly, what republicans are still not giving up on is some kind of change to obama care. even if its very, very minor, this republican source said that what theyre pushing for is income ve...

Nothing new, by the way, from the news agency. i looked back at 2011, at the last time we had this problem, and on that occasion, they said the united states had kidnapped the global economy. >> okay. we know that china owns a lot of the u.s. debt. how would, heaven forbid this happ happens, we are hoping for the compromise to be worked out, but if a default were to happen, how would it affect china? >> thats the interesting and rather sardonic part about this. yes, they have $1.2 trillion worth...

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 wa...

Now, whatever deal comes out of the senate, most likely will be bipartisan. should pass by a wide margin. but house republicans are going to hate it because theyre going to say they were kept out of the deal. then john boehner has a decision. he can put it on the floor or try and offer something at the last minute. but then where it ends, we dont know. all we know is its on reid and mcconnells shoulders and the white house is being kept informed of every last detail, were being told as well. >> ...

Weekend might be falling apart. monday could be very hairy in the markets if this dealmaking over the weekend doesnt seem to bear any fruit. its difficult to predict when exactly wall street will start to totally panic. but you can guarantee they will at some point as we get closer. >> lets talk about the debt deniers as luke dubbed them. a column in "the daily caller" makes the case that not raising the ceiling doesnt niecely mean that america defaults. quote, if republicans refuse to raise the...

That faces our future. >> why not open the government and do that? why not open the government and have that conversation? >> past experience has shown us without any doubt that the only way to get those in the united states congress and the white house who are financially irresponsible and pay attention is to do so in this kind of mechanism. i dont like it. continuing resolution adversely affected our economy. not raising the debt ceiling is going to have an adverse effect on our economy. this ...

Bills and we need to do that before we have any agreement on what goes after that. this is not a concession. this is basically doing our jobs. this is what were supposed to do. default is four days away. and i say again, im grateful and thankful senator mcconnell reached out to me. i was happy to do that. i had a piece of legislation on the floor today to extend the debt ceiling for a year. its hard for me to comprehend, but every republican voted against this. this was a motion to proceed to th...