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>> hell, no. i would not vote to increase the debt ceiling. otherwise it just shows the american people we're not serious yet. we're still going to incur more debt. we don't have to increase the debt ceiling in the next few weeks. it turns my stomach to hear the assumption articulated that we have to, despite the fact we're raking in, the federal government, $6 billion a day. take that money and service our debt first. and pay down some of that debt. make sure that we're showing the international financial markets and our lenders that we're serious about getting our debt and deficit problems u...

Co-chairman of the president's debt commission. one made a statement that we have a treaty to protect taiwan from china. yet we have to borrow from china in order to do it. it shows how bizarre these relationships have gotten because we've become indebted to these countries. >> china is protecting us from the obama administration if nobody buys the debt, it is not sustainable in domestic terms here. i think it underlines why it is absolutely critical not just as a domestic policy matter, but for the national security implication to stop this insane level of government spending. the deficit is ...

>> so, the aarp is worried social security could be a casualty in this debate. david certner is the guy who talks to lawmakers on capitol hill about the matters. david, welcome. what do you think the president will say about social security this afternoon? >> it's hard to predict, but what we hope he says is what he said in the past. that social security is not a big contributor to the budget defic deficit. in fact, it's in surplus. we shouldn't be cutting social security to deal with our current deficit problems. >> plenty of people out there say social security hey to remain solvent. to do t...

Highlight ways where the president essentially had to give some ground on that. and that's kind of laying the battlefield yet again before a new debate starts. >> all right. kelly o'donnell on capitol hill for us this morning. thank you, kelly. well, the president does not have to start from scratch with this deficit speech. he appointed a commission to study the deficit problems but so far has not enthusiastically embraced that commission's recommendations. this is a point chuck raised with him at a news conference back in february. >> you had a majority consensus to do all this. it's now b...

The short term spending or deficit problems that we have. whether it's paul ryan's plan or the president's reduction commission, which, by the way, if anybody bothered to read, it's a document you can get on the internet, well thought-out. i think it's better than the ryan alternative. if the president would have adopted this we would be in a better place to discussion options. but the simpson plan is thought out and detailed and would be a great item that would be embraced by financial markets the world over if we were to adopt something like that. the president missed an opportunity to do th...