worry about it, i will not come after you. we ll tell hhs not to enforce the law. what am i supposed to do? counsel my insurance company clients to do? not only break the law because the president told them he will not prosecute them? what happened in 18 months when the political winds change and government will prosecute the guys, went forward knowing what they did was illegal? jon: the president needs the cooperation not only of the insurance companies but also the insurance commissioners from the various states to get this done and. correct. jon: it does not seem like it is particularly popular among them. here is what the insurance, i m sorry, the insurance commission statement said yesterday. this decision continues different rules for different policies and threatens to undermined the new market and may lead to higher premiums and market disruptions in 2014 and beyond. it doesn t sound, phil, like they re exactly on board with what the president wants to do? no, of course not
spending cuts in ten years. reid would hike the debt by $2.7 trillion now and mandate an equal amount of cuts. but the congressional budget office says the boehner plan would trim spending by $850 billion, and the reid plan by $2.2 trillion. boehner went back to the board and postponed the vote that was supposed to happen today. reid s plan can t pass the house, and not only is boehner s plan doomed in the senate, a great many house republicans don t like it either. so what happens now? well, time marches on. a never-before-seen default on u.s. debt and obligations could be just six days away, but potentially just as bad would be a downgrade of debt, and a downgrade that would say we are not reliable as we used to be. that could up the cost for borrowing for all of us. here is richard quest on cnn international, and the smart money still says default will be averted, but downgrade, is it inevitable, are foreign investors alarmed? no, it s not inevitable. nothing is inevitab