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Major output, significant refineries, that could be a source of concern. as you might expect, world oil markets react to any instability in the middle east. one of our goals should be to make sure that in cooperation with other countries in the region, not only are we creating some sort of back stop in terms of what's happening inside of iraq, but if they do ends up being disruptions inside iraq, then some of the other producers in the golf are able to pick up the slack. those are part of the conversations that will take place this week. to give people a sense of timing here, although events o...

>> ultimate remedy, there could be cases as we discussed. there is the possibility that congress could retaliate in other ways. for example, not confirm nominees. not advance his legislative agenda. >> that doesn't define the limits of the constitutional authority? that's a weapon to hit someone with? >> you are quite right. >> ultimate back stop for lawless president the is impeachment. those are the constitutional back stops. >> the only way it ends up in court some citizen can find some reason he or she is harmed. >> i think that's probably true. >> nobody has done it so far about this. >> ...

Spreading north of los angeles. nearly 3,000 people are under evacuation orders and almost 1,000 firefighters are battling wind gusts of 40 miles per hour fueling the fast-moving fire. all this means what? we are dpg are going to have tat money and with clean up on the way today and the 2013 hurricane season under way, there is a bill that would create a catastrophe fund to put money aside ahead of time to be used in responding to the next natural disaster. a rainy day fund, if you will. a fema director and cochair of protecting america.org. they should set aside dollars ahead of time to cover...

Administration attacks it saying it averts technical default but not actual default if we have to defer payments to people like social security recipients so it's going to get raised and interestingly there is some pressure on republicans on this front, too, because remember they're up for election in 2014, president obama is not. that was part of what was hanging over him in the 2011 debt limit fight he wanted to push it past the election. republican members know they've got to come up with some sort of budget cuts to appease some of the more conservative members so they can pass it because t...

Chief washington correspondent mr. john harwood. this is anything but a casual friday panel, ladies and gentlemen. this is a power panel finishing out the week strong and john i'm going to start with you in d.c.. we see a lot of these economic gains. i want to read a quote from zach goldfarb, "the sunnier outlook means that president obama will be able to pay the nation's bills for months without seeking additional authority borrowing for months. little appetite for compromise but no leverage to shape an agreement." we thought the debt limit would be the back stop and perhaps they'd dangle the...