weekend might be falling apart. monday could be very hairy in the markets if this dealmaking over the weekend doesn't seem to bear any fruit. it's 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. >> let's talk about the debt deniers as luke dubbed them. a column in "the daily caller" makes the case that not raising the ceiling doesn't niecely mean that america defaults. quote, if republicans refuse to raise the debt limit when the government has reached its borrowing limit, congress will simply be forced to live within its means by rerouting current spending to previously accrued debt. are fears of a default unfounded at all? >> reporter: no, fears of a default are not unfounded. that is true. but there's a couple of layers of nuance and complexity to that. a lot of times you hear the question of default on the debt or default on obligations. those two terms get smooshed together in this.