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Burning through cash at the treasury like drunk een sailors. the treasury has no idea what's happening in his own joint. in the trump administration, they burned through $294 billion in cash. they started with $382 billion. it's down to $88 billion and dropping by the day. the rate they lost cash year between march and early june, they will be out of cash by memorial day. there's no reason to believe that will be any different this year -- >> neil: raise the debt ceiling. >> there's no pathway to a majority in the congress that soon. they have declared war on the democrats. i guess they deserv...

Down -- >> no. there's no down. the first quarter gdp is coming in at 1%. i mean, this whole lit flurry of, you know, bullish and enthusiasm in the stock market is meaningless once it's clear the tax cuts wouldn't happen and this debt ceiling crisis is going to take down the whole system. why did they allow $294 billion of cash to be burned up? i want to tell you something really important. only $237 billion of that was to covered the inherited deficit that you can't blame trump for. but he used $57 billion in cash to lower the debt ceiling. >> neil: i shouldn't have put the cardinal in here i...

It's not like it's a business where they have to hire honest and good people in order to function. they just didn't want to fire their buddies. >> i think president obama should push him out or fire him. and i also blame congress. their job is for oversight and they hold hearing after hearing and nothing gets done. >> and it's interesting that the irs response to this was that, look, we'll be more transparent, but we want the commissioner to still have discretion in these cases. and that's really not what the public wants to hear. >> it's not working. >> did disgraceful. anyway panel, listen t...

Some common ground? >> democrats, look at the heart of it. the democrats say we won't cut a dollar a future spending unless you give us big tax increases on the tune of trillion of dollars. rep cans came up with tax reforms that generated more revenue that were in the hundreds of billions of dollars but the democrats said we will not cut a dime in spending unless you give us billions of dollars in tax increases. and look, here's what is going to happen as a result of the democrats unwilling to make any deal whatsoever. the automatic cuts fall on defense. $456 billion. that's the smallest part ...

Controversial move and domestic spending cuts will be included. $294 billion of those and nonmandatory spending. and for spending for medicare, that would also be slashed to the tune of $123 billion. and these cuts would go into effect in 2013 and they will last until 2021. with no deal in sight, the super committee not looking so super. so if it does all fail as is now being predicted, what does that mean for our political system and the ability of washington and the politicians to honestly face and solve our nation's most pressing challenges? let's bring in our political panel, didi benke is...