18 years. they re not trying to communicate with me. they belief that by holding their ground they can be re-elected in the 70% districts. republicans maintain the majority in the house of representatives. that s the end game. richard. i ve want to ask you, you wreot a book about obama white house. nancy pelosi was asked if the president would raise a debt ceiling and backed away from answering fully. do you think he is prepared to risk impeachment or threat of impeachment and raise the debt ceiling. do you think he s that convicted about this? no. i ve don t think he will. i think they have a clear legal reading on this. he does not currently have the purr power to do that. change the law. place it. congress has budget setting power. but the idea that they have both budget setting power and debt ceiling power is going to have to be revisit ited at some stag. i think to pick up point. they have power. tea party republicans. their leadership gives them the
it s clear the republicans were the ones who walked away. what are the expectations, though, there in washington in terms of how this plays out, how this is going to end? well, the one thing is pretty clear that the grand bargain, this very big deal, is the thinking that s dead. right now it all becomes about trying to raise the debt limit and how that gets done. it could be a couple of ways. one, the white house and congressional republicans could just almost agree to a type of just spending cuts only just to be able to get the debt ceiling raised through the 2012 elections. of course, there s also that mitch mcconnell-harry reid gambet to put all the debt ceiling power in the president s hands for him to be able to raise it by himself, so those are going to be the options at this morning s meeting. i can tell you that with wall street and everyone else looking, they re hoping for some progress this weekend. okay. mark murray, we ll have you back in a couple of hours talking abo
they belief that by holding their ground they can be re-elected in the 70% districts. republicans maintain the majority in the house of representatives. that s the end game. richard. i ve want to ask you, you wrote a book about obama white house. nancy pelosi was asked if the president would raise a debt ceiling and backed away from answering fully. do you think he is prepared to risk impeachment or threat of impeachment and raise the debt ceiling. do you think he s that convicted about this? no. i ve don t think he will. i think they have a clear legal reading on this. he does not currently have the power to do that. change the law. place it. congress has budget setting power. but the idea that they have both budget setting power and debt ceiling power is going to have to be revisited at some stage. i think to pick up point. they have power. tea party republicans. their leadership gives them the power.
30%. right now this is a spin war. it s clear the republicans were the ones who walked away. what are the expectations, though, there in washington in terms of how this plays out, how this is going to end? well, the one thing is pretty clear that the grand bargain, this very big deal, is the thinking that s dead. right now it all becomes about trying to raise the debt limit and how that gets done. it could be a couple of ways. one, the white house and congressional republicans could just almost agree to a type of just spending cuts only just to be able to get the debt ceiling raised through the 2012 elections. of course, there s also that mitch mcconnell-harry reid gambet to put all the debt ceiling power in the president s hands for him to be able to raise it by himself, so those are going to be the options at this morning s meeting. i can tell you that with wall street and everyone else looking, they re hoping for some progress this weekend. okay. mark murray, we ll have you ba