capitol hill. from everybody i ve spoken to, they want to get this puppy, like stevie wonder once said, signed, sealed, and delivered so there s no chance of any economic catastrophe and we can put this behind us and have thanksgiving and christmas and won t see me in the pilgrim costume because i ll get to enjoy a holiday. i don t know about that. the pilgrim costume has been ordered debt ceiling breach or not. indeed. i will also note that signed, sealed, and delivered is one of president obama s favorite stevie wonder songs, and what can be sure he will be humming or tapping his foot as these things make their way through the capitol this evening. thank you to nbc news capitol hill correspondent luke russert. thank you to my intelligent and patient panel. that s all for now. see you back in new york city tomorrow. andrea mitchell reports is up next. the day my doctor told me i had diabetes,
i would dispel the rumor that is going around that you hear on every newscast that if we don t raise the debt ceiling, we will default on our debt. we won t. we ll continue to pay our interest. we are not going to default from the public debt, but that doesn t mean that we have to pay every bill the day it comes in, 100 cents on the dollar. in fact, house republicans even passed a bill in may called the full faith and credit act, requiring the treasury to prioritize payments to creditors, rather than, say, medicaid payments to doctors, in the event of a debt ceiling breach. this bill requires, not allows, requires treasury to continue to pay principal and interest on existing debt if and only if we hit the debt ceiling before a deal is reached. this is a backstop that takes default off the table. now in isolation, that sounds almost reasonable, doesn t it? it s not. it s nonsense, and here s why. think for just a second about how massively complicated it is to deal with all o
from the public debt, but that doesn t mean that we have to pay every bill the day it comes in, 100 cents on the dollar. in fact, house republicans even passed a bill in may called the full faith and credit act, requiring the treasury to prioritize payments to creditors, rather than, say, medicaid payments to doctors, in the event of a debt ceiling breach. this bill requires, not allows, requires treasury to continue to pay principal and interest on existing debt if and only if we hit the debt ceiling before a deal is reached. this is a backstop that takes default off the table. now in isolation, that sounds almost reasonable, doesn t it? it s not. it s nonsense, and here s why. think for just a second about how massively complicated it is to deal with all of the money flowing through the united states government every single day. you ve got intakes like payroll taxes and bond purchases coming in and all sorts of money going out, interest to bondholders, social security payments,
interest. we are not going to default from the public debt, but that doesn t mean that we have to pay every bill the day it comes in, 100 cents on the dollar. in fact, house republicans even passed a bill in may called the full faith and credit act, requiring the treasury to prioritize payments to creditors, rather than, say, medicaid payments to doctors, in the event of a debt ceiling breach. this bill requires, not allows, requires treasury to continue to pay principal and interest on existing debt if and only if we hit the debt ceiling before a deal is reached. this is a backstop that takes default off the table. now in isolation, that sounds almost reasonable, doesn t it? it s not. it s nonsense, and here s why. think for just a second about how massively complicated it is to deal with all of the money flowing through the united states government every single day. you ve got intakes like payroll taxes and bond purchases coming in and all sorts of money going out, interest t
unlike the u.s. it got it back after 3,35 five days. it s time for america to start fighting to get it back and stop fighting against kids being kids, kids cannon ball people, get over it. ac 360 starts now. erin, thanks very much. good evening everyone. tonight two words, keep talking. that s when the president is john boehner is saying as they search for a way out of the shutdown mess. what ted cruz and other hard liners are saying and boy, are they talking? we ll take you inside the conservative convention where the affordable care act is compared to slavery and death panels live again. later, there could be evidence in the death of kendrick johnson, that young man there found dead upside down in a rolled up gym mat. was it a freak accident or murder and coverup? parents join me. we begin with the latest on the talks to end the government shutdown and head off a debt ceiling breach. president obama met with senate