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And i'm not sure who would care much if i had. >> i think actually there'd be a lot that would. >> i want to know, actually. >> governor, looking at the current debt trajectory we have, i think we can agree this is not the doing of an administration but administrations. this has spanned over the process of decades. now that you're the chief executive of a state, looking back at your time in retrospect at omb, what do you wish you would have pushed for when you were sitting in the seat of the office of management and budget? >> i guess i wish i'd been more successful, more effective advocate. i...

evening here in the nation's capital. just to underline the peril facing the united states economy, and the american people, democratic officials familiar with the president's speech expect him to say the country right now is, quote, in imminent threat of default. with only about one week left for democrats and republicans to agree on a deal to raise the debt ceiling. in a speech earlier today, the president alluded to the bitter political grid lock between both sides. >> are we a nation that asks only the middle class and the poor to bear the burden? after they've seen their jobs di...

Trying to work together to come up with some kind of a solution, a budget that would help the nation get out of its debt crisis. senator coburn explaining why he is dropping out of those talks at least for now. joining us now, alabama senator jeff sessions. he is the ranking republican on the budget committee. what does his departure, at least for now, what does it mean, senator? are we going to get a budget or not? >> what it means is we need to move forward and get a budget. i've always believed that the "gang of six" had every right to try to work on something that could help us get through...

Do can come up with an agreement that will make a big dent in that debt trajectory. >> reporter: treasury secretary timothy geithner says he does not need to reassure overseas' buyers. >> there's a lot of confidence in the capacity of this economy to grow, to make sure that we can meet our commitments or obligations. >> reporter: but a house democratic insider told abc news that this just throws gasoline on the bitter debate over raising the nation's debt ceiling. if congress doesn't take action by mid-may, the united states potentially could default on its debts. there is something positive t...

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