billion in catch that s in the treasury s coffer right now. daily revenue is coming in, but that fluctuates. it s not enough to pay everything. that means there s very tough decisions. i want to show you what the biggest bills we have are coming due. november 1st is the day i m concerned about. social security, veteran s benefits and military all coming in at the same time. these seem like kind of priorities for the government. and then what happens? you don t have any more money. you have to pay irs refunds, maybe ious. this is what you cannot do. you cannot give ious for your interest payments. those absolutely must be paid. that s what s crucial here. china, overnight, warning the u.s. that it expects to get paid. here is what the big risk is. stock markets would most likely plunge here.
here is the u.n. debt and paying its debt is key not just to the reputation to the united states but the world. it s the backbone. i think no matter what you re going to have a treasury department that is going to do everything in its power to pay its investors first. to pay its bondholders first. you ll have the challenge here. just on november 1st, these are the bills that come from. the treasury secretary said after months of extraordinary measures the money runs out. look at the huge medicare payment and social security checks go out. military pay goes out and a few more days, even more checks and multibillion dollar interest pam. if the treasury is paying interest payments first, do you pay seniors? give them ious? you pay them or don t pay military or active due to federal workers?
welcome back. the shutdown showdown. i m jake tapper. from world war ii veterans storming the gates of a shuttered memorial to a girl storming the gates of a shut down playground. now congressman mark sanford is getting in on the civil disobedience. he is calling back his staffers to work tomorrow. congressman van holland is here. i want to ask you about the fiscal cliff i guess it was called last time. this time it s called the debt ceiling. if you and the senate don t vote to raise the debt ceiling by october 17th we don t have cash to pay bills or pay down the ious we already owe on the debt we already have. in 2004, you voted against
john king, they risk paying the chinese bankers. we just don t have the money to do everything. are they getting it? do they get it in washington? the dangerous game? the leadership gets it. that is why i ll be crazy and be a quasi speaker here. and the leaders will work it out and the president will get the increase in the debt limit. there is a lot of quick sand in what they are saying today and getting a bill passed. they could go off the rails. at the treasury department, they are running the math to figure out who gets the ious. the reason speaker boehner is warning about the denny hassert rule, you don t pass anything that doesn t have republican support. that is a litmus test. boehner is trying to rally his troops, christine. this is happening in the middle of the shutdown and fight over
this changed all that. after the all clear was given, lawmakers praised the first responders. i join the majority leader in expressing our gratitude to the capitol police. [ applause ] the irony of all this as steve brought up, on capitol hill police responded while they are exempt from furloughs. they are not being paid because of a shut down. they are getting ious. less than an hour later, good feelings were gone and lawmakers were back to placing blame. they are pretending to care. it s time to stop pretending to care and really care. it s hard to feel good and stand by and let a train wreck or a nightmare, depending on which democrat s description of obama care you want, just let it