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speaker kevin mccarthy has yet to issue a budget for the next fiscal year. but did manage to cobble together one frankenstein' monster of a debt ceilin proposal this week mccarthy presented a sweeping 320-page bill tha would pair 4.5 trillion dollar in spending cuts with a 1. trillion-dollar increase in th federal dilemma that would kee the bill collectors at bay until march 24th, just in time for the campaign season to hea up the white house says thi spending cuts wish list tied t the debt ceiling is nonstarter meanwhile, golden sach economists are saying that the united states coul...

set. this is what we're watching "at this hour." thank you for being here. i'm kate bolduan. the battle over the nation's debt ceiling is upon us. the united states just hit its borrowing limit of $31.4 trillion. and that means that the treasury department must now begin to use a series of what is called extraordinary measures to avoid default. extraordinary measures that are no longer so extraordinary since they have been -- they've had to be used so often. this is a completely avoidable problem that falls entirely on congress to raise the debt limit. something that republicans wi...

Progress, it would take us backwards. >> i just want to be clear you are not saying that th administration is unwilling to have spending conversation with the speaker it is just that y'all don' want to do it in connectio with the debt ceiling. >> i've been in the middle of lot of spending fights in this town, i've worked for the hous parisian's committee for many, many, years. so a lot of this is not new. i have heard it before where people try to extrac things that are, frankly unrelated to the issue at hand avoiding default is a basi responsibility of congress republican democrati presidents...

Because that is where this is headed, do you think it is going to -- even if this is avoidable and these two things could happen separately, raisi ceilin over spending and we've seen republicans raise the debt ceiling on president trump three times without having to talk about any of this spending conversation. do you think in the end this -- when when it comes to the staring contest of we're not going to negotiate and going right up to the debt ceiling or the limit, do you think that democrats have to negotiate on spending in order to avoid a default? >> i would hope that the moderate republi...

>> harris: it won't mean his trip wasn't worth it, it just may mean that china is what? >> we've got to keep pushing. there is no quit here, this is a nuclear threat that had the capability of harming the american people and our allies around the world, not something you throw your hands and say shoot, we can't do this. hopefully we can get this done because you are right. >> harris: the defense spending conversation that will be part of that spending conversation at the white house today, that will be how they touch on this but substantive leap, the president has a situation where north korea...