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That s why we re at a higher risk of default than 24 hours ago. in my estimation they are still going to work out a deal and avoid default. we all can certainly hope. we have ten days to get it worked out or less. but with regard to what we saw last night from the white house, it is rare you get a friday night news conference from the president of the united states. called 15 minutes ahead of time. he looked visibly angry in it. what is the message the president s trying to send? we ve always known, alex if the big deal collapsed, that the fall back since everybody agrees we couldn t default is going to be a small deal. what he was trying to do was condition the talks toward a small deal. the president wants an extension on the debt limit, that takes him through the 2012 election and doesn t have force congress to keep dealing with this every few weeks or months. republicans want a shorter term deal it s difficult for them to ....
It should be a little better even in new york tomorrow. how about the folks in d.c. what s the forecast for them? we re look at triple digit heat today and probably mid to upper 90s tomorrow. by monday and tuesday we ll probably be just back down to the ordinary low 90s. so some relief. there are signs the heat may reload late next week. don t even say it. thank you for the heads up. thank you. there s a new book out about the amanda knox case. it s raising more questions about her conviction. did she get a fair shake and might she win on her appeal? that is next on msnbc saturday. [ male announcer ] get ready for the left lane. the volkswagen autobahn for all event is back. right now, get a great deal on new volkswagen models, ....
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2nd. it s got to happen next week. it s got to happen next week. if it doesn t happen there are a few possibilities. one of course is default which would be total travelsy. i think it s probably unlikely that the government will actually let our debts go unpaid probably instead what we ll have is people went get their medicare palts, their social security payments. troops won t get paid in iraq and of course, those are also not particularly happy scenarios. you re saying this and i m shaking my head no, that cannot happen. let s say there s a deal that cuts some spending and over time attempts to tackle the debt. you can say some people would look at that and say we re pushing it back. but at least if there s something going on, how will wall street react to that? i think actually that would probably be the best case scenario assuming that congress comes through on those plans. a lot of economists you talk to ....
Pass along a deal. the president has public opinion at his back. underpents are looking at democrats and president obama and seeing somebody who is compromising which is what they want. republicans are opposing compromise and the president was trying to push that advantage in public opinion, force republicans to buckle. we ll see what happens at 11:00 when all the leaders show up at the white house. it s not clear how this is going to be resolved and whether it s a short-term, medium or long-term deal. let s talk about this angle from the president. he wants this next deal to be valid through 2013 to avoid dealing with this in a presidential election year. let s talk about that. the phrase has been we re talking about the debt ceiling but it s the economy stupid. do you believe that we re focussing on the wrong syllable here. does this affect the domestic economy and getting people back to work and getting all the ....