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Back in 1981 when ronald reagan came to town, guess what? he needed to raise the debt ceiling. that's right the same debt ceiling that his party had been voting to the last member against. not a single republican member in the house voted to raise the debt ceiling leaving it to the democrats to do it themselves and getting bricks thrown at them for doing it. reagan had to raise the debt limit himself. tip o'neill not wanting to rain on the new president's parade, wanted one condition. he wanted a letter from ronald reagan himself to every democratic member of congress to vote for the death cei...

It's plex, a huge negotiation and many of the people we've talked about have never negotiated before. haven't been in private business. don't know what it is to make a payroll or look at a balance sheet and frankly for them to be going away right now sets such a pad example for the country and even the world to watch. >> why do you think they do it? if i were in congress and saw the state of the country and knew i had the death ceiling looming, continuing resolution soon to expire, that i would have to start on an important issue like immigration, talk about the tax code and all i do is put mo...

>> he wanted this, this was his i'll show tape later in the program. he said no way am i going to take this off the table. they try, i'll veto it. now, all of a sudden, this is catastrophe, doom, gloom, republicans hate everybody and want seniors to die and first responders to lose their job and the fbi to shut down, and border security to shut down, the audacity. it's almost laughable. >> sean, this president is compelled to it raise revenue at every opportunity he has, to raise taxes. and use the fiscal cliff to scare people. he raised taxes on the rich. he got his pound of flesh for the ele...

Pretend media. when he talks about the death ceiling and the 14th amendment, mr. president, that's not actually been done before and that's not the point of it, can you explain that being the constitutional genius you are? no. we have a debate on the debt ceiling. can we actually talk about the debt. oh, all bush's fault. okay. let's talk about guns, there's not a single idea that's leaked out of this white house or pushed on capitol hill that would have prevented the horrific mass murder in connecticut. they're dusting off all their wants and demands and trying to pour it into this tragedy li...

Exchanges, something you know, that the federal employee retirement system fund, he's preventing-- >> he's raiding, he's raiding. >> he's reinvestments right now to stave off default of the debt ceiling. >> greta: today has there been any discussions that you know of between the white house and capitol hill what to do about the debt ceiling or sequestration by the principals? >> not that i know of. right now we're seeing posturing that happens, republicans are saying that there has to be an equal number of spending cuts for every dollar the debt ceiling is raised and the white house making it ...