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So you might think lawmakers would be scrambling to deal with the next fiscal cliff, raising the debt ceiling. past crises have led to partial government shutdowns. congressional leaders and administration officials are downplaying any immediate concern this time. >> we will deal with it certainly before the august recess, as to the other issue of a government shutdown, no one desires it. >> bret: what is it? the debt limit or debt ceiling is the congressionally imposed amount the u.s. treasury can borrow to pay the government's bills. raising the borrowing power allows continued spending on t...

Do you think you can actually stop this compromise? or is this you making a point? >> no, i want everybody in america to call their congressman and say giving president obama an unlimited amount of borrowing power is a tragedy. it's a disaster. this bill stinks to high heaven because we're increasing the debt with no limit. we're giving president obama a blank check until march, even after he's out of office, until march of 2017 they'll be no limits on borrowing. that's a problem in our country. we're borrowing a million dollars a minute. so, no, i think this is a terrible disaster. but it ill...

To vote on cons controversial budget deal. some say not ideal but for some conservatives, republican senator rand paul saying it is so bad he is willing to filibuster this thing. he is live in boulder, colorado, as he is getting ready for the debate tonight. thank you for your time. >> good morning. >> you say you go back to washington, go on floor of the senate, make sure this does not go through? do i have that right? >> absolutely. we're borrowing a million dollars a minute now. so the deal they made, the deal they made with president obama to give him unlimited borrowing power. this is ext...

Bills, the formal signing from this end. we think of signing a bill being the president's duty. but before it gets to the white house, the speaker signs it here. so that gives you an idea of the interest that they have in getting that done. another big issue, brian, will be debt ceiling. we're being told that the new sort of cut-off point for the country's borrowing power is now november 3rd. so the treasury department's been able to shift some dollars around, that kind of thing that we've seen in these crises past. so that presents a real serious problem. can a new speaker begin a speakership...

>> last knight they approved the relief for hurricane sandy victims. and house democrats want to get rid of the federal debt ceiling. they are pushing legislation to repeal the limit accusing the republicans of using it to blackmail the country. the treasury officials say they will run out of borrowing power as soon as mid-february. each day that passes brings us closer to massive automatic spending cuts to dramatically affect the u.s. military and defense industry. tonight, jonathan serrie reports on the damage done to north carolina. >> fact. miles from fort bragg, k-2 solutions train dog fo...