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Before the house committee. a.b., it just doesn't get more fascinating than this one, i don't think. >> i know, it's interesting. in the years between 2012 and now, he had a lot of fun talking about this behind closed doors. >> and got a lot of money. >> he must have. and now he's been in trouble with the contract he had with the state of vermont and a recent e-mail turned up where he said he gave one interview apologizing for it but since then he's been laying low because he doesn't want to fan the flames of the haters, so it's really interesting what his interpretation of the damage is. it w...

About, the principle pay-for take savings out of medicare, 10 years from now, way down the road, so far down the road it is essentially against the budget rules in congress to claim savings more than 10 years out. so the republicans think that is a little bit risky, a little bit smoke and mirrors-like and they have alternatives of their own that are more politically dicey for democrats to vote for. one would be to deny the child tax credit to illegal immigrants. another would be predictably, to delay the individual mandate of obamacare for another year. they say that would cover the costs. rei...

Ceiling, currently $16.7 trillion. budget rules allow treasury to use so-called extraordinary measures to create wiggle room in national debt accounts. they let treasury keep selling securities and raise cash temporarily. for example, treasury can cut back funding pension and health programs for federal retirees, and can suspend investments in a special foreign exchange fund. but the administration got a little help this time from fannie mae when in june the mortgage giant repaid it more than $60 billion from its government bailout. when treasury bumped up against the debt ceiling in may, it t...

Going to have to come back to the negotiating table again. we are going to have the typical budget rules. the house republicans are going to put out their budget. it will continue through the spring. >> andy, what are you hearing is happening in d.c. at the capital and how possible it is we are going to follow this time line put in place of maybe having the deal agreed to in two hours presented to senators and maybe they vote by midday and they send it to the house and the house is on the floor on new year's eve. what are you hearing? is the time line the one we are trying to go with? >> we ar...

Taxpayers-- >> because it only applies to-- >> nobody is getting a rate cut on anything and even on the new loans going forward it's not everybody, not all category of students loans, but it's enough and under budget rules, 6 billion next year and 3.4% rate is capped, a lot more in the future. >> if it's capped for one year as the proposal would do, probably going to be very hard to ever raise, is it not. >> that's the danger, if this becomes a part of this washington herd of sacred cattle, 3.4% raise becomes a basic american right and look an at uncle sam borrow heing at 3.1. let's say intere...