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About fringe. forget about what we're hearing so far. this will be catastrophic. >> what do you make of finch tonight putting us on the negative watch what they call it for aaa rating. >> it is certainly something we expected, i think. but really why? why is this happening? why are we doing this to ourselves? for what -- what is the end goal? what do they want? the reality is republicans don't know what they want because it keeps changing. first they want to undo the affordable care act. then it's about the budget. now it's about something else. every day it's something different they're tryin...

>> that's a nonstarter for the democrats? >> yeah, well, anyone who is for that is for dramatically increasing the risk that next time around the united states defaults. with all the negative consequences on millions of americans. and on the entire american and world economy. so that is absolutely a nonstarter. >> okay. this just in. fitch rating service has maintained its aaa rating for the united states, but places it on negative watch, citing the prolonged congressional negotiations over a hike to the borrowing limit. this is getting very serious. this is exactly what harry reid was talking...

Wire. >> obviously an embarrassment for everybody involved on all sides. we've been downing the days since america lost that aaa rating, 781 days for those of you who are keeping track. but the risk of a major crisis actually gets bigger. shutdown or not, right? >> reporter: absolutely. the treasury secretary said today united states will reach that debt ceiling october 17th. that is just around the corner. and even as early as this saturday, the house is likely to work on some kind of bill that would raise the debt ceiling for a year. guess what? they will attach all kinds of things on it. ob...

How long it would go. that raises the risk of default or insolvency. that happens when we can't make a social security payment, a medicaid payment, and the government obligation which is distributed or it simply can't be passed. that would be an incident of a default, something this country has never done. something that we came close to doing a couple of years back, the ratings agency lowered our aaa rating. but you could argue that we are hardly worth the aaa rating now. and so i think that that could be debated. as you mention, mentioned, also this ping-pong between the house and the senate...

While detroit's bankruptcy dominated headlines on friday and all weekend, in fact, a big city further south had some good news. san antonio received a aaa bond rating, a key indicator from businesses, that the city is a place to plant a fiscal flag. san antonio mayor julian castro joins us now. congratulations on your aaa rating. what is san antonio doing right? >> well, i hope a lot of things but i think that mostly what san antonio's doing right is managing its resources well. it also has benefited from tremendous growth over the last decade or so. it grew by almost 250,000 people over the l...