lying now? never lie? is it semantics? a lot of this is semantics but of course we re in the midst of a political fray here over the entire episode. there are people on the republican side who see this as tremendously danieling to president obama and danieling to thdamage damagina administration and mastering al-qaeda. look at semantic since you point that out. they re important here. the difference is that in the document that susan rice basing remarks on she used the term extremist instead of al-qaeda. tremists. that could include a range of people including al-qaeda but, of course, we know that ansar al-sharia in libya has someda. it s not clear they were taking directions from al-qaeda. but the difference between saying specifically we know this was an al-qaeda attack, or extremists.
talk more about it in our crime and consequences segment in 20 minutes. the clock is still ticking toward a midnight deadline to avert a partial government shutdown but the pressure s gone down just a little bit. that s john boehner s way of saying both parties in both houses have agreed on a trillion dollar spending package. now they just have to vote on it. the house will vote first. then start its holiday recess. the senate will vote after that. and will try to agree on extending a payroll tax cut and unemployment benefits. if it does, the house will come back to vote on that. stay tuned. ballistics and fingerprint analysis now links oscar ortega hernandez to the rifle used to fire bullets at the white house last month according to new court filings. the 21-year-old from idaho is being charged with attempting to assassinate the president. ortega is in washington today for a hearing on whether he should undergo more missile testing to determine if he is competent to s
constitution. to incur debt in the name of the united states. what s that s been authorized, it has to be honored. what that actually says is we may not default. it would be unconstitutional for the treasury secretary to allow a default. fortunately, we don t have to default and that s why it s irresponsible for the treasury secretary to suggest otherwise. we have got $200 billion a month coming in the door. less than 10% of that covers our debt service obligations. that s what the 4th amendment requires. use of the word default is it semantics, scare tactic or legitimate? it s unfortunate somatic, poor use of words depending on your viewpoint to refer to the debt limit as default. it refers to what would happen if we stopped making our debt payments. we have more than enough to make our debt payments. we have a call failure to raise the debt limit something else. it would be bad to be sure but it s not a default. shannon: i very quickly want to ask you because you remember the s
for any failed company. isn t that precisely what the government did in the bailout of aig and citigroup in 2008? so again, isn t this in truth, a bailout, notwithstanding with dodd and mr. obama and tim geithner to say? this is a structured way to deal with failures. i ve got fdic insurance just like you do. if you have a checking account or savings account, any financial institution in this country you have fdic insurance. to try to call that a bailout is really being disingenuous. both the democrats and republicans spent a lot of time dismembering regulation of wall street. it s time that we reregulate wall street. gregg: you may call it semantics, but there is a difference between bankruptcy and bailouts that trps end up
shannon: we talk about this. i know you use the word manufacturered but many people, including the president and treasury secretary tim geithner referring to this as a serious economic process or crisis. is it semantics? do you take issue with them say that? all we needed to do was have a clean vote on the debt ceiling. tarp came, i voted against tarp. they didn t say you had to have all the financial reforms in place before the government antied up $700 million to wall street. they made tarp funds available to wall street. i didn t vote for it. but what we re trying to do is to pour years and years of fiscal angst in a few moments to see if we can come up with the solution to be able to raise debt ceiling contingent on that. that is a bad way to operate a country. the uncertainty we created across the nation, uncertainty with the average folks and investors and around the globe