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Nancy pelosi said boehner "wants to go over the edge." the "new york times" congressional correspondent said boehner is a chris i can habit he can't kick. the premise is last year's debt ceiling battle triggered by republicans pushed the government close to defaulting on interest payments and thereby caused downgrade in america's credit rating. that tremendous is almost entirely false. even if the tet ceiling had not been raised and the government had been forced to stop borrowing, tax revenues would still be enough to cover 60% of the budget. since interest payments account for 6% of the budg...

Reagan question are you better now than you were four years ago? >> stocks were down again today. the dow lost 63. the s&p 500 was off eight. nasdaq dropped nine. the top republican on capitol hill is drawing a line in the sand on the tet ceiling. chief congressional correspondent mike emanuel reports on an opening shot of the war on the borrowing limit. >> boehner is ready for a fight. >> when the time comes i will again insist. principles are greater than debt increase. >> it led to a huge battle that ended with creation of a super committee charged with finding $1.# trillion in cuts only to...

Event to force the process to deliver more change than what it would produce on its own. >> they call protecting the credit rating of fundamental commitment and incyst the process shouldn't be as difficult. >> only congress can act to raise a debt limit. we hope they do it without the drama and pain and damage they cause the country last july. >> other top democrats say the hast thing the country needs is a rerun of the last debt battle. >> republicans can grand stand all they want. any agreement to avoid the physical cliff facing us at the end of the year must not gut programs that support th...