Page 3 - Doesnt Default News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Drowning in red ink? and even if a last minute deal is reached we'll need another one several weeks late e and then another one? why is congress staggering from crisis to crisis? i'm wolf blitzer. we want to welcome our viewers in the united states and around the world. you're in the situation room. 30 hours from now, the united states faces the grim possibility of going into default on its debt and the credit rating agency, fitch, fitch has already issued a warning for a possible downgrade. one way or another, the standoff is in its end game. house republicans have tried to put together...

Question. i'll go to amy for that. if this gets kicked down the road, forgive the cliche, i'm sick of it myself, if this gets kicked down the road, what is the negotiation, how does that work? >> that's what's so tough because we can see why with the clock ticking on default, we know mitch mcconnell and john boehner have no interest in defaulting. they would work with democrats in the final hour to push this off, but it is another punt, and the super committee failed when we last were at this point in august of 2011. that was the band-aid, the solution to get through that deadline. this brings...

Up to nine months. >> on the point of the medical device tax delay, ron, would that -- we have heard from the president. we heard also from harry reid. no negotiating when it comes to obama care. would that be seen as a concession from democrats? >> it's difficult because the medical device tax is not central to the obama health care law and there are democrats who are critical of it largely because they have interested in their own states that are affected by it, but it provides the concession for this behavior and for using these tools. in men aways the white house's highest goal and the sen...

Source i was talking to is saying they're pushing democrats to do maybe even about the same length of time as this bill to fund the government. democrats, of course, are going to push for more time. that's a big part of the discussions i'm told going on right now, the date for the debt ceiling increase, and then lastly, what republicans are still not giving up on is some kind of change to obama care. even if it's very, very minor, this republican source said that what they're pushing for is income verification for people getting federal subsidies for obama care in order to get their health ins...

Nothing new, by the way, from the news agency. i looked back at 2011, at the last time we had this problem, and on that occasion, they said the united states had kidnapped the global economy. >> okay. we know that china owns a lot of the u.s. debt. how would, heaven forbid this happ happens, we are hoping for the compromise to be worked out, but if a default were to happen, how would it affect china? >> that's the interesting and rather sardonic part about this. yes, they have $1.2 trillion worth of u.s. government securities, so they are to some extent in the same leaky boat as everybody else...