Page 6 - Shutdown Doesn T News Today

Of whether or not you can achieve that. >> plus, what israeli prime minister benjamin netanyahu think of irans new leader. ♪ norfolk southern whats your function? ♪ ♪ hooking up the country helping business run ♪ ♪ build! were investing big to keep our country in the lead. ♪ load! we keep moving to deliver what you need. and that means growth, lots of cargo going all around the globe. cars and parts, fuel and steel, peas and rice, hey thats nice! ♪ norfolk southern whats your funct...

Eye how big a hit the markets will take. the overseas markets shrug it off. investors are watching how it plays out as it is sure to be a prelude leading up to the debt ceiling. deadline just two weeks from now. joining me for more is jared bernstein, msnbc contributor, senior fellow on the center for budget and policy preerand form chief adviser. thanks for being here this morning. >> my pleasure. >> government spending represents 40% of gdp. depending how long this continues, how much of a hit...

>> final question, if the government shuts down, is it a victory for you? >> no, i dont want the government to shutdown. nobody wants the government to shutdown. no one does, and we want to negotiate with harry reid and the president, and they wont e negotiate with us. the president is talking to the irans, and not to republicans. it is ridiculous. we need to get together to have discussions, but we have given and made concessions, and what have they given? nothing. >> and what concessions have ...

Are at fault. >> well, we should remind people what this is about, carol. this is a continuing resolution, and this is about what level do we fund government? the initial debate was that the republicans wanted a lower level, and the democrats wanted a slightly higher level, and we have agreed to the lower level. we have agreed with the republicans. they have to learn how to take yes for an answer. >> and that is what many americans are blaming both side of the aisle, and asking this question, if...

In just a few weeks, that kind of job creation will slow quite quickly, and the cost of a shutdown by some estimates starts at maybe $200 million a day, and then rapidly getting more expensive as the days wear on. if you saw the four-week shutdown, carol, mark zandi at moodys says it will cut the economic growth in half, and that is not going to create any jobs. and if you go over the debt ceiling and you dont raise the debt ceiling, that is sending a signal to the world, and the borrowing costs...

Togeth together. people realize because you saw the messaging from the conservatives on the sunday shows trying to flip the script, if you will, and saying that it is the president who is being absolutist, and unwilling to compromise, and the polls show that compromise is value that americans do everyday, but absent from the playbook they are per suing, and so some folks think it is a shutdown that is needed for the real think cheit and the people to stop living in fantasy ideology and not fisca...

Overseas. >> the house republicans continue looking at going after obamacare. the senate republican leader was considering the idea of funding the government another week. tension is building as were about nine hours from a government shutdown. trace? >> trace: big talk. with us now the managing editor of the hill newspaper, bob cusack. good to see you. >> hey,. >> trace: trace dont you love how each side thinks the other sized just being absolutely ridiculously stubborn on this? >> both sides -...

Health care exchanges go into effect at midnight. >> well, most of them are not going to be open, because there are problems, and this is a real issue, and harry reid is pushing this, because he thinks it is a political win in 2014, and quite honestly, it is a diversion with what is really going on with the act and the problems with the implementation. and to say otherwise is not true. >> i am not saying that there are not problems with obama care, but they dont want it tied with the federal bud...

>> trace: theres a huge gap on the hill. bob cusack, good to see you. >> thanks, trace. >> trace: at the very heart of the budget showdown is president obamas signature healthcare law, and beginning tomorrow americans can begin signing up for insurance exchanges. administrative officials say that will happen with or without a shutdown. lots of questions still remain, including how much it will cost and whether or not those exchanges will be completely up and running. peter deucey is live in wash...

Those who say there is room for agreement should be paid and those who say my way or the highway and it veers to the far right, they shouldnt be paid. >> all right. let me lay it on you, and republicans say that the democrats are using the old strategy of passing something and then send it to the house too late to avert a shutdown. i know you in the house, but why arent the senators working right now? why are they waiting until 2:00 this afternoon to convene? >> well, because they said to the ho...