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the deficit and raise the debt ceiling. meanwhi meanwhile, the specter of default comes ever closer. frankly, it's the tone of these debates that has a lot of people scared and this is a guy who's scaring a lot of folks tonight. congressman joe walsh, republican from illinois, a freshman backed by the tea party. he's been known to say blunt things when criticizing president obama. these comments might just take the cake. i want to show you a video congressman walsh shot and posted to his website yesterday. >> president obama, quit lying. you know darn well if august 2nd comes and goe...

Holders of our debt, one, two, three, and four -- is what we're going to do in the event the government shuts down. there's talk back and forth that after the markets close today, jenna, treasury officials are going to outline that emergency, those contingency plans, if you will. and one of the plans being advanced is sort of a here is the pecking order of the must-do bills we have to pay in the event we shut down. keep in mind that even if we do shut down, jenna, we are still getting better than $172 billion a month in tax revenue. in other words, people at home who think that all of a sudden...

Latest updates on this topic from reliable sources.

Latest updates on this topic from reliable sources.

Latest updates on this topic from reliable sources.