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I mean, and also as a political judgment, just the reporting i've been doing today, you know, talking to some people in and around this gang of six senators who are coming up with a compromise, they are getting close. there's, you know, for the first time -- >> close to what? >> close to some kind of deal that they will put forward th that -- >> that they can carp about with? >> yeah, yeah. but -- but the fact is that i've been doing this for a long time, 40 years. this is really the first and most serious conversation i've seen taking place about deficit spending since the '90s when they actu...

And said failure to get a deal would be inexcuse able. senator reid and speaker boehner gave brief comments as well. i'm joined by heather boushey with jonathon alter on the telephone. heather, i want to catch people up to speed on where we are with this budget right now. what happened was there was no budget passed last year. and so the government's been funded by what are called continuing resolution. what is a continuing resolution? >> well, when congress doesn't pass a budget, then they have to -- they have to keep the government going. so they pass what they call these continuing resoluti...

After the meeting, president obama spoke to the press corps in the white house. he emphasized the possible cost of a shutdown to ordinary people and said failure to get a deal would be inexcusable. senator reid and speaker boehner gave brief comments as well. i'm joined by heather boushey with jonathon alter on the telephone. heather, i want to catch people up to speed on where we are with this budget right now. what happened was there was no budget passed last year. and so the government's been funded by what are called continuing resolution. what is a continuing resolution? >> well, when con...

It's far from inevitable. >> bill: you believe that even with the massive spending on tap and, remember, that drives the tea party people, it drives disenchantment that, hey, we don't want to be a third world debtor nation here and barack obama has committed in 2010 to spending an enormous amount of money and probably going out to losing congress which he may. you believe even if he turns the job thing around, running up the massive debt is not going to hurt him? i think he has got to stop the spending. >> there is a sector of voters who will be upset with his spending pattern. absolutely. the...

It's far from inevitable. >> bill: you believe that even with the massive spending on tap and, remember, that drives the tea party people, it drives disenchantment that, hey, we don't want to be a third world debtor nation here and barack obama has committed in 2010 to spending an enormous amount of money and probably going out to losing congress which he may. you believe even if he turns the job thing around, running up the massive debt is not going to hurt him? i think he has got to stop the spending. >> there is a sector of voters who will be upset with his spending pattern. absolutely. the...