Transcripts for CNN The Situation Room 20131015 22:25:00 : v

CNN The Situation Room October 15, 2013 22:25:00

they put us on a watch. do you know what kind of impact that would have on your constituents? how many jobs would be lost, how much money would be lost, how much investment income would be lost for millions and millions of people out there if interest rates went up? >> i agree that's a concern. but $17 trillion in debt already, and a president wants wants a blank check with no accountability. i don't know how much money the federal government can borrow, but we're beginning to get to where it's a real concern. >> it's really just paying for what the congress has already appropriated, if you go ahead and avoid that kind of debt ceiling default. you've already spent that money. you've paid for it. now the u.s. has to make sure it doesn't default. >> well, that's why we need to bring the entitlement programs into the picture. >> but you can't do that within a day or two. >> we can at least start the process. >> this deal that the speaker was ready to do would start the

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