is sequester. it cuts out the muscle blindly. just to clarify, you re going to vote no. if everybody on the republican side voted no like you, then america would basically go into default on the debt. are you prepared personally to carry that burden. having voted three times to keep the government open with the c.r. two weeks ago, i think i ve shown that i do not want the government to shut down, nor do i want the government you say that but with respect to you, congressman, if everybody else did what you re doing tonight, that s exactly what would happen. i put it to you again, speaker boehner admitted you lost the battle, what is the point in voting no when the only direct result of that would be america going into a catastrophic economic default? i m curious. well, here is what you have. you have a national debt that s
16% excuse me, 16 trillion dollar is 100% of the gdp for every dollar 42 cents is borrowed. we can t escape from that. that s compared to what lies ahead if china or other lenders say you to restructure debt congressman, with respect again, chinese people who are watching this businessmen and politicians, they want people like you to vote no tonight. they would love the house to throw it out, to cause total economic melt down in america so china emerges dominant economically. so i say to you i don t understand why you would be prepared to risk that over something your own speaker already said has been a failure. i don t get it. well, i think that there is a maybe a debate that we have not really had about what actually happens at the stroke of midnight tonight, as you remember, this was the secretary of treasury who said we re going to go into default. we re going to reach the debt
and is essentially breaking news. you re looking live at the house of representatives, back in session and beginning to debate the bill. if it pass, the president promised to sign it as soon as it hits his desk. christine. left you with a dilemma to ponder. has this become used like warren buffet said nuclear political poll and does that do the economy a disservice? the found e of the world s largest bond fund a couple hours ago said we shouldn t have a did he believe ceiling because the point is if congress or members of congress are so upset about the debt ceiling and amount of debt, they need a budget in the first place and priorities and spending plans in the first place that don t rack up the debt. instead of focussing and trying to use political mite to agree on how to run the country, they are just fighting about paying