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Hence sif energy policy. there's way too much drama over this. it's like we're arguing over the bar tab on the titanic. >> it's 2:18 eastern time. we know the deadline is midnight. the president yesterday said he thought by early today we would hear something. he wasn't wildly optimistic was the phrase he used. where do you stand? >> i'm eager to get this settled. it could go to the stroke of midnight, it could go into the weekend, but it doesn't do any of us any good. you heard that those people in line to generate loans to either sell or buy a house would be affected. we have some concerns a...

>> look, right now the congress is arguing over whether to cut $10 billion or $60 billion or something in between, when we have a deficit of $1.5 trillion. they are arguing about the bar tab on the titanic. they are only talking about 12% of federal spending. not talking about entitlement programs or comprehensive tax reform. the real battle is going to be over the debt ceiling limit. we need to do something in regards to the budget controls. >> would it be advisable -- i think it would be but challenge me if you disagree or support me if you agree -- for republicans to say, no, mr. president ...

The business sector has said give us certainty and predictability. we ought to determine how we will spend the money the next seven months and turn to the long term challenge, and david walker who you know and i respect, the argument going on, he said is like arguing over the bar tab on the titanic. we ought to finish this. we ought to agree on common sense cuts, find a moment, not too hot, not too cold and move on to the longer term challenge. >>neil: no one is doing it. do you agree that the president takes a big heap of the blame? he talk as good game but he does not deliver. >>guest: i see...

He needs to help them understand the difference between our short-term challenge, which is real, to make sure we have real economic recovery, get unemployment down and make some targeted investments. he needs to have a path forward to deal with the iceberg that could sink the ship of state. he needs to call for a compromise on the c.r. with regard to spending cuts. he needs to cup -- >> a krmplts r. is a continuing resolution which will keep the lights on in washington. the c.r. >> correct. they need a compromise on that because they're arguing over the bar tab on a ship that's headed for an i...

>> the federal reserve is the largest holder of u.s. debt. that is a related party transaction, that is self-dealing. you can temporarily delay market forces, you cannot permanent delay them. let me tell you what needs to happen. the president of the united states is the chief executive officer of the united states. the entity that he's in charge of has a deteriorating financial condition. his own people say it's on an unprudent and unsustainable path. he needs to understand the difference between the short term challenge, which is real, to make sure we have real economic recovery, get unemplo...