us. luke russert on the hill as well as mike viqueira at the white house. thanks so much. i know it s going to be a long night for all of us. triple threat, baby. triple threat. it s great to have you guys on board. we ll keep you posted. hirrin] sometimes it pays to switch things up. my - what, my hair? no. car insurance. i switched to progressive and they gave me discounts for the time i spent with my old company. saved a bunch. that s a reason to switch. big savings it s a good look for you. [ blower whirring ] [blower stops] the safety was off. out there with a better way. now, that s progressive. fiber one. uh, forgot jack s cereal. [ jack ] what s for breakfast? um. try the number one! [ jack ] yeah, this is pretty good. [ male announcer ] half a day s worth of fiber. fiber one.
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the most recent cnn o.r.c. polling says 51% of americans would hold republicans responsible if the debt ceiling is not raised. just 30% would find president obama more responsible. peter moresi joins us. i have to ask you this, you are an economist, you re a well-respected economist and we have spoken together for years. do you have any evidence of what so many conservatives are saying that if we were to increase taxes at all, at all at this point in an economic cycle, that it would actually hurt our economic recovery? well, increasing taxes wouldn t hurt anymore than, say, cutting spending. both would decrease the amount of demand in the economy. to say taxes would hurt the economy is kind of code for, cutting spending is okay, but taxes are not. that s simply not true. in fact, raising taxes may be less deleterious than cutting spending. economic theory says so. did anything that happened yesterday, friday, have any effect on you when you looked at those gdp number that
progress. democratic senate leader harry reid and republican senate leader mitch mcconnell on the senate floor moments ago. look. today the speaker republican leader held a press conference to announce they re in talks with the president and that a bargain to raise the debt ceiling is in the works and is close. in president, members of the senate, that s not true. i just spent two hours with the president, vice president, and leader pelosi, and it s fair for me to say that the engagement there is not in any meaningful way. the speaker, republican leader should know that merely saying we have agreement in front of a few television cameras doesn t make it so. the fact of the matter is that the only way we re going to get an agreement before tuesday is to have an agreement with the president of the united states. and the only person in america of the 307 million of us who can sign something into law. and i m more optimistic than my friend, the majority leader. we ve both tal
a string of delays the house narrowly passed speaker john boehner s version of a debt reduction bill. i stuck my neck out a mile to try this. to get an agreement with the president of the united states. i stuck my neck out a mile. and i put revenues on the table. in order to try this. to come to an agreement to avert us being where we are. a lot of people in this town can never say yes. a lot of people can never say yes. this house has acted. and it is time for the administration and time for our colleagues across the aisle, put something on the table! tell us where you are! [ cheers and applause ] well, the bill which had new language requiring congress to pass a balanced budget amendment before the debt ceiling is raised was quickly rejected on the senate side. then lawmakers took up majority leader reid s debt proposal after a question from minority leader mcconnel senator reid try this. ed to get a vote on it tonight by a simple majority. minority leader mitch mcconne