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There won't be a problem. >> so this would be even though, even if there's a debt deal, we could still get a downgrade, because of the buildup in spending liability? is that it? >> that's right. standard & poor's has been the most explosive, saying even if there is a deal here, there could be a downgrade and it's bizarre, the rating agencies have held themselves out at merely an offering opinion about a risk. you wonder how a long-term default happens, assuming we keep raising the debt limits, but i think, what they're looking at is 10 trillion in publicly held debt. the obama budget submitted...

To be added the next decade and it's, it's hard to say there won't be a problem. >> so this would be even though, even if there's a debt deal, we could still get a downgrade, because of the buildup in spending liability? is that it? >> that's right. standard & poor's has been the most explosive, saying even if there is a deal here, there could be a downgrade and it's bizarre, the rating agencies have held themselves out at merely an offering opinion about a risk. you wonder how a long-term default happens, assuming we keep raising the debt limits, but i think, what they're looking at is 10 tri...

Trillions more that are going to be added the next decade and it's, it's hard to say there won't be a problem. >> so this would be even though, even if there's a debt deal, we could still get a downgrade, because of the buildup in spending liability? is that it? >> that's right. standard & poor's has been the most explosive, saying even if there is a deal here, there could be a downgrade and it's bizarre, the rating agencies have held themselves out at merely an offering opinion about a risk. you wonder how a long-term default happens, assuming we keep raising the debt limits, but i think, wha...

Good morning, it's high level talks over raising the debt limits stalled last week, the president himself steps directly into the negotiations with top republican leaders, senator mitch mcconnell and house speaker john boehner in a white house meeting set for tomorrow. a new poll out this weekend by the associated press shows a deeply divided american public, 41% opposed to raising the debt limit, 38% in favor. yesterday i sat down with chris christei coming off a big budget victory. late saturday night the state assembly passed landmark cost cutting legislation to close the budget gap due to ...

Because our work is not done. for all of the progress we have made, our work is not complete. we're not at the summit. we're just part way up the mountain. >> i think you're not going to get much argument on that. among the council's key recommendations, cut red tapes and give out more loans. meanwhile joe biden and republicans today will resume today their bipartisan talks on raising the debt limits. vice president biden staying positive about what he thinks the outcome will be. >> he put me in charge of