Detailed text transcripts for TV channel - MSNBC - 20111118:17:01:00
>> but we're not going to have a market meltdown. the market is pricing in -- but in terms of the last time around we had a downgrade, we had all sorts of crisis with s & p. >> the washington monument almost closed. >> precisely. we're not going to have that again. >> so the assumption is it's going to be some sort of can kicking down the road. >> yes. and if they fail to get a deal you've got that sequester that would kick in that would cut money from the pentagon and from social programs. >> defense cuts. >> but it doesn't come until 2000123. that's a year for congress to figure a way to get...
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