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We are being warned that there could be some real serious economic doom at the beginning of next month if the Democrats and the Republicans cannot agree on a deal to raise the debt ceiling. Experts are telling us that the stock market will crash, the economy will immediately plunge into a recession, and tens of millions of Americans will not get their Social Security payments.
Think of it as a five to six year job before you. >> i think you've got a future, pk, in real estate flipping. you've worked out all the details. before i leave you, talk about the fact that there haven't been pay increases for staffers over time. why has that gotten stuck? >> okay, so about ten years ago, the economy implodes. the great recession hits. there's bailouts for wall street. there's bailouts for the auto industry and basically, everybody, the lawmakers on capitol hill looked at one another and thought, we can't give ourselves a pay raise. we're so unpopular now, so they basically f...
It's sort of a cycle, but it busted yeltsin and it looks now if the oil price continues to decline and the situation with the sanctions, putin has a problem on his hands -- >> it still is a big economy in the globe. its complete tanking could become our problem. >> some journalists are raising the idea of revolution in russia. here's what the editor of the interpreter told "hardball" today. will he withstand another protest movement if the economy implodes? if, as if the '90s people were trying to withdraw all their money from atms and taking duffel bags full of rubles to buy a loaf of bread. ...
do. nobody can get the support to get one of those through. do we have to look for just the possible? >> i think mission number one is to raise the debt ceiling. they cannot get away without doing that. saying they're going to downgrade you. but they left a bit of an out. if you raise the ceiling but give indication you're on the road to getting a deal, we'll keep you on credit watch negative but take you off and affirm your aaa rating if you get it done within a couple of months if we see that possibility. so that's -- that seems to me to be the fallback plan for congress. weather t...