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CNN CNN Newsroom October 8, 2013 18:55:00

Respect to world leaders. you know, the irony is our teams probably do more to organize a lot of these multilateral forums and set the agenda than anybody. we end up being engaged much more than china, for example, in setting the agenda and moving this stuff forward. so when it s almost like me not showing up to my own party. i think it creates a sense of concern on the part of other leaders, but as long as we get through this, they ll understand. we ll be able to, i believe, still get these deals done. the last point i d make, though, is we can t do it every three months. back in the 90s, we had a government shutdown. that happened one time, and then after that, the republican party and mr. gingrich realized this isn t a sensible way to do ....

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CNN The Situation Room October 8, 2013 21:30:00

Seen equity markets, but treasury bond bills, short-term bills that are expiring right by the day after the government closed, the ones that were expiring right around october 17th, then the ones that were expiring in november 7th, there was a risk premium, they re at their highest rates since 2009. so it s really modest, doesn t have ripple effects for the economy yet but the fact that that s already happening, investors are already having to raise rates on the very minute short-term treasuries means that that s a precursor of what could happen, that we could get a spike in rates and if the uncertainty is not resolved, it could linger. and the global pressure here is real, because the biggest investors of course in the treasury bond market happen to be foreign investors and they will pay the greatest price but it is also global in scope because we are what everybody else prices all their assets off of. the treasury bond is the gold standard or it is considered that still. not sure w ....

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CNN The Situation Room October 8, 2013 21:41:00

To keep the government from defaulting on its debt. plus, president obama says newt gingrich learned shutdowns are no way to do business. newt is here. he will respond to the shout-out he received from the president. my interview with the crossfire cohost coming up in our next hour. [ male announcer ] may your lights always be green. [ tires screech ] [ beeping ] may you never be stuck behind a stinky truck. [ beeping ] may things always go your way. but it s good to be prepared. just in case they don t. toyota. let s go places, safely. ....

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CNN The Situation Room October 8, 2013 21:05:00

Last several minutes, the white house did issue a veto threat, saying that the super committee idea that came out of the republicans earlier today up on capitol hill, the president would veto that legislation. he is not interested in their idea of a super committee at this point, mainly because as you heard the president say earlier today, the republicans have already said any super committee would have to take new revenues off the table. the president said he is not going to do that. white house officials say that is basically a nonstarter at this point. some kind of process but not the republican super committee laid out today. tiny progress, if that. thanks, jim acosta. let s go up to the hill right now, where dana bash is standing by. you are getting reaction to what we heard from the president. the speaker just moments ago speaking out himself. so is there some wiggle room here that s going on? am i missing something? reporter: if there s wiggle room, it s certainly not being ....

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CNN The Situation Room October 8, 2013 21:28:00

Often seem to think they are disconnected but as you noted in 2008, we learned we are intimately connected. right now one of the scariest things i have to deal with, i think our recovery and growth potential going forward is in the hands of our elected officials in washington and i don t like feeling that way as an economist, nor as an american. so that s something that disappoints me right now and also scares me. but there s been cumulative effects. during that crisis in 2011, a lot of other policies were sidelined. our status in the globe, in the world was undermined and we didn t go forward with trade talks that have already undermined our competitiveness. last week, president obama had to cancel a trade talk which also further are setting us back and critical talks with china that also have geopolitical implications as well as economic implications. these kind of costs are starting to seep in and undermineus both as a nation in our geopolitical sense and economically. that s the pa ....

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