Page 22 - August 3 News Today : Breaking News, Live Updates & Top Stories | Vimarsana

We're going to stand good for it. >> sure we're going to default, but we're going to stand good for it, whatever that means. everybody should feel better. all of the beltway gang of six excitement today about this plan in the senate is proceeding as if congress all understands that there's a reason to act and act quickly, that the country will start to default on its debt and shut down on august 2, that the deadline is real and baring down on us. there's the assumption today, but you cannot take it for granted today that congress, in fact, understands this. over in the house, you want to know ...

We're going to stand good for it. >> sure we're going to default, but we're going to stand good for it, whatever that means. everybody should feel better. all of the beltway gang of six excitement today about this plan in the senate is proceeding as if congress all understands that there's a reason to act and act quickly, that the country will start to default on its debt and shut down on august 2, that the deadline is real and baring down on us. there's the assumption today, but you cannot take it for granted today that congress, in fact, understands this. over in the house, you want to know ...

Lately is the deadline that's upon us to raise the nation's debt ceiling is not really august 2. he has been trying to say that there's no reason to expect that the markets, the bond markets, stock market, etc., no reason to expect that they will wait until we actually default, until august 2, before reacting adversely. as we get closer and closer to the default date, just being too close to it without a resolution may, in fact, knock the economy off a cliff. at this point it could happen any moment. moody's warned last week the u.s. aaa credit score, which we had enjoyed for 94 years, our aaa...

>> we have a very full field. i made my decision and i'm comfortable with that. i'm busy in the senate. >> greta: that is absolute no? >> that is i'm very busy in the senate and hoping that we can do something about cut, cap and balance this week. >> greta: and come august 3, what do you foresee looking in the crystal ball? >> my assumption again is that something is going to happen between now and august 3. but i open -- i sincerely hope for the american people and for the good of this country that we do something about the spending issue. this is a spending problem, not a revenue problem. ra...

Debt if we are going to raise the debt limit. there isn't another plan out that there that does that. if it doesn't pass, what is the next step? i am not sure i know the answer at this point, but it has to include meaningful reductions in spending or it's going to be very, very hard to get any republicans in the house and the senate to vote for it. >> i know you said no. have you made the announcement no. a lot of things have happened with different candidates. have you reconsidered it just a little bit about running for president? is there part of you that thinks maybe there is a chance you w...