automatic cuts. we will have until next election to fix this thing. the time we don't have is the country tax rates expire at the end of next year giving us the highest tax increase in history and that is what some of the republicans were trying to avoid with a reform of our tax code and they were willing to put more on the table than i was but the democrats want even more than that, so i'm frustrated by the process and clearly our markets can not take another dose of bad news. >>neil: we are told to we are at that point two weeks from now, and a debt deal isn't reached, sequestration kicks in, and we have the $1.3 trillion in cuts over 10 years that automatically kick in, including half a trillion in defense over that period, something i know is anathema to you, but if it comes to that moody's hinted it could follow s&p and downgrade u.s. debt from aaa to not triple a.