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Vu? >> there's a broader question here and a deeper question here, which has to do with america's role in the world. vietnam went badly. in the view of most people, iraq, even though it appeared to be concluded successfully, came to be viewed in the aftermath not least because the president kept acting as if it were as a failure. so then you have the series of eruptions in different places around the world and in particular in the middle east and decisions are made not to send american forces, not good get too deeply involved and once that decision is made, of course, you have a coverage decis...

Blunt, and russia, with its gdp and trade might be able to withstand it, especially because of this. russia remains a big oil and natural gas producer for europe, and about 24% of the oil and natural gas, natural gas from russia, goes to germany right now. and another 24% goes to eastern european nations. so the bottom line is, if you hurt russia, this can be used for russia to hurt other nations back. and that's not even counting the general spillover effect, which could happen if you look at the whole impact of the region. if you hurt russia with its economy, the spillover is going to affect...

Today. the analysis underestimated the benefits and overestimated the costs. lauren katz said they used a lot of off the shelf estimates. they want to find a smaller or negligible impact. what's your feel something you. >> know, i agree with that sentiment to some extent. i think it's worth actually looking at the report, because you made some of the points here, it's -- you know, there's a lot of positive points here about the minimum wage increase, where they thought it was a proponent. for example, big argument, some of the opponents of raising them, it's a bunch of kids that work after sch...

Disingenuously beating up on the cbo. if they cared about the prospect of low wage workers there are a lot of real ways they could show it. joining me now is dean baker. there are a lot of economists reacting to the cbo's projection today. the analysis underestimated the benefits and overestimated the costs. lauren katz said they used a lot of off the shelf estimates. they want to find a smaller or negligible impact. what's your feel something you. >> know, i agree with that sentiment to some extent. i think it's worth actually looking at the report, because you made some of the points here, i...

Bills. you cannot go into those systems and easily make them pay some things and not other things. they weren't designed that way because it was never the policy of this government to be in the position that we would have to be in if we couldn't pay all our bills. >> failure to raise the debt ceiling would cause serious damage to the u.s. economy but also to the global economy as a result of this spillover effect. >> let's discuss with two members of congress. xavier becerra, democrat from california, chairman of the house democratic caucus. republican congressman ted yoho of florida, also hap...