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that's it for me in washington and all of us in new york. coverage on the debt ceiling showdown, carol costello continues our coverage. >> thanks guys, have a great day. "newsroom" starts now. -- captions by vitac -- www.vitac.com good morning. i'm carol costello. thanks so much for being here. well, here we are, it's october 16th and the nation is on the edge of default, in other words, we're staring down the very debt crisis that lawmakers told us not to worry about. i wonder what the reassurances and promises congress could come together at crunch time and not risk an economic d...

0 >> all right. mr. gerrard, good to have you with us tonight. i appreciate it. i know it's a long season, but i'm feeling for you. those steelers at 0-3. i think they're a little bit better than that. >> take it easy. >> muput a smile on your face. >> take it easy. >> that's "the ed show." i'm ed shultz. "politicsnation" starts right now. rev? >> thank you, ed. and thanks to you for tuning in. tonight's lead, the shutdown party. seven days to go until a possible government shutdown. and far right republicans are showing every indication they're serious about making this extreme move. today ...

0 just yesterday reported another $400,000 ad buy in the race that comes on top of their previous $400,000 ad buy, which in massachusetts in an off-year election is a heck of a lot of money. mitch mcconnell, the to be republican in the senate sending out solicitations to, please try to win the senate seat in massachusetts. pulling out the stops. they're unpredictable. you never now what's going to happen. that's how we got scott fwloun blue state massachusetts. burt the republican candidate has not done all that great of job making a case for himself. his name is gabriel gomez, ex navy s.e.a.l...

evan bayh? lobbyist. and dorgan, lobbyist. doud, l doud, lobbyist and senator blanche lincoln gone from the senate and now is a lobbyist. judd greg, senator, now lobbyist and scott brown. remember scott brown of massachusetts? what's become of him? this one is really interesting. actually, just kidding. this one's not interesting at all. scott brown did what they all did and went to work for a lobbying firm as well. that's how it works. just like the rest of them. the loss of that particular senate seat, the loss of that senate seat enables scott brown to finish his ex senator destin...

congressman barney frank and journalist robert kaiser. they talk about how the dodd frank bill was passed in the congress. we had to put together a product to instore confidence, trust in the financial system without which nothing of this would work. if you don't restore the basic elements, the economy doesn't function. and so it was critical that be done. i think we did a great deal of that with us this, and time will tell, obviously, whether or not these provisions work. we think they will. >> paul volcker, chris dodd, barney frank and robert kaiser when we continue. funding for ch...