the emphasis is now on the education of members about a default. that s why bankers like jamie dimon of j.p. morgan chase and jane fraser of citi group met with chuck schumer along with other senators today. mr. dimon, did default come up? what was your message to the leader? what would it do to the banking system? actual default would be a disaster. it s been said over and over, you re just repeating it. are you optimistic about a deal? let them worry about that. this is where wall street meets main street. the lead negotiator spoke today at the capitol. a sticking point, workman dates for people to receive some benefits. i asked the speakfer he agreed this needed to be a bipartisan process. he said yes. again, this i believe is a promising step in the right direction. nobody will get everything that they want in these discussions. i hope nobody, nobody draws red lines in the sand. but there s now optimism that the sides can reach a deal even with the president
is about the outlines of what the budget will look like. not about whether or not we re going to in fact pay our debts. mccarthy says that they will reach a deal but says was biden has left congress in a race against the clock. you know what i told the president 105 days ago? i had no conceived notion of what to do except two things. we re not going to raise taxes and we won t pass a clean debt ceiling. but we have to spend less than what we spent last year. let s talk about that. he decided no, i shouldn t negotiate with somebody. i m going to do what i want to do. my way or the highway. president biden has appointed his top aides to carry out negotiations while at the g-7 this week. he s cancelling the second leg of his trip and hopes to get a deal finalized by the u.s. goes into deat all time. congressman jody arrington from texas joins me now. great to have you on, as always. i want to play this sound bite. we talk about this race against the clock. part of the reas
we have yet to see the video. the video will tell the tale. that is the story of wednesday, may 17, 2023. as always, the story goes on. i will see you back here at midnight on the east coast, 9:00 p.m. on the west coast. fox news at night. martha is back tomorrow. your world, neil cavuto starts right now. neil: does wall street know something the rest of us don t know in stokes soaring on hopes that a deal could be imminent on the debt front. we hall see. i m neil cavuto. this is your world. what would make stocks racing on reports that the two sides are coming together on this debt nightmare? only a couple weeks before we presumably run out of car and options. don t know if that is the case but i know chad pergram would know if we re getting anywhere near that. he s on capitol hill with more. hi, chad. good afternoon, neil.