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United states has coming due, it's really november 1st when they have $67 billion of payments that have to go out the door all on the same day. >> stop saying that. >> thursday. >> the question is whether or not markets will start to freak out on thursday or tomorrow when we get closer to it and looks like, hey, wait a second, looks like this thing isn't going to happen. unpredictable. >> if there isn't pain come thursday, a lot of members don't believe the debt ceiling is a real thing at all. they are going to dig in further and say why should we do anything. if it's not hurting my people bac...

We need to put in place, i know, and everyone up here knows. again, yes, there's a deal to be had here. there is something that could be good for our country. it's just a shame that we have wasted the last two months on the wrong topic, on the wrong page, and finally, over the last 72 hours, have gotten there. but we could have made a lot more progress. there's a lot that this country needs for us to do up here as far as spending reforms and hopefully this framework will be put in place over the next several days to allow us to again do those things that we know have to be done for future gene...

The nature of the dysfunction in d.c. is another question. what's been note worthy is the refusal of the markets to really freak out. >> you're going to freak out, dan, when you start to see, what jack lew and cbo say the treasury will have to pay out following october 17th because october 17th is an important deadline but not like everything will freak out on that day at midnight. the government has about $30 billion in cash, they get $7 billion a day revenue, they spend about $10 billion a day. on october 23rd, they have to pay out $12 billion in social security benefits. on october 31st the...

Month and have $20 billion in interest payments. there is no reason ever to default and a good leader would say we will never default. we should never miss a payment. not raising the debt ceiling means you have to balance your budget and not default. >> jack lew said picking and choosing what bills to pay is default by another name. on "meet the press," the managing director said it won't prevent damage to america's good name. >> creative accounting is not the solution. markets know that. the counterparts to the united states know that. you have to honor the signature. you have to give soverei...

>> good morning, guys. look, it's not good. look at it this way, the president rejected an offer made by house republicans and basically talks have broken down with the house republicans that he said was too tough, too one-sided tilting towards the republicans. the senate, senate republicans offered a deal more favorable to the president. in fact, house republicans very upset with it and the senate democrats rejected that and said it wasn't favorable enough to their side. here are the democrats that are saying the house deal is too tough. the senate deal which the house says is too weak is sti...