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Do it again. now he's re-visiting this. he's cutting up this turkey right now. cut some spending out. i think it's easier said than done but i don't know the ropes down there. this guy does. senior producer, chad pergrim. what is going on here? >> it's basically a spending cancellation. they don't do it often. in 1974, they passed the budget act. within 45 days, that i can take back some of that spending. the biggest example where they did this is in 1993. the circumstances were similar. president clinton got through congress his big economic stimulus plan and democrats wanted to show that the...

The freedom caucus balk. they might want the spending cuts but might -- it's not enough. that's the problem there. so to get this bill just right is going to be very challenging. if you have the president saying they want to do it and you can get the republicans on board, they can probably get it done without the democrat assistance. >> neil: easier said than done. thanks, chad. so now the latest development is welcomed. >> yeah. i'm excited to see what this happens. the white house initiated action, so the president will have to make a list of unencumbered accounts that he wants to attack and...

The other side, agreements with the other side tends to be exploded by each side. chad pergrim is in the middle of this. when told that 100 republicans or more could vote against this thing but handicap this one. >> republicans don't like this bill because they didn't get a lot of conservative principles in this piece of legislation. they said we control the house, the senate, the white house. why aren't they in this bill? that's the problem there. so they probably were going to vote no anyway. they always need democratic support to move the debt ceiling. get the bipartisan support from the de...