trip down memory lane. good morning, it s friday, july 15th, 2011. i m chuck todd. i m excited about carmageddon. thank god i don t live in l.a. consider it an arm sift. nobody has won. nobody has lost too badly. why the negotiations on the federal debt are over. the band-aid plan is starting to take shape. the boundaries of a dmz are being drawn. the larger battle, the cold war is years from being settled. here read and mitch mcconnell are negotiating a version of the mcconnell plan c, the fail safe plan that would allow the president to raise the debt ceiling in two or three increments. we say that because it s still being negotiated. guaranteed spending cuts will likely be added to the mix, part of the 1.5 trillion from the biden talks. that s the starting point. that s being used to work out.