the markets to react to the downgrade and do you think that the downgrade will cause interest rates to rise both for the treasury, our government borrowing debt and filtering down to somebody who wants a home mortgage or somebody who wants a car loan? the tel aviv stock market gives you an early indication of at least the initial reacts of markets. the s&p downgrade injects further uncertainty into the markets. the markets hate uncertainty. i don t expect that we will pay more for interest rates. it was not an economic event. it was a symbolic and psychological event. an important one. it is a meaningle indicator of credit risk, the u.s. is not a worst credit risk now than they were two weeks guy. we have our own reserve currency. we can print money and our fiscal situation has not changed in the last couple of weeks. we made a move to do better or make it better. chris: i want to get back to the market side because that is what people are focusing on immediately.
to react to the downgrade? do you think the downgrade will cause interest rates to rise for the treasury, our government borrowing debt and filtering down to somebody who wants a home mortgage or a car loan? tel aviv stock market gives a good early indication, at least the initial reaction of markets. s&p downgrade injects further uncertainy into the markets, markets hate uncertainy. i don t expect we ll pay more for interest rates. the downgrade was an symbolic and psychological event, an important one. usually what the s&p gentleman said it is a meaningful indicator of credit risk. u.s. is not a worse credit risk now than two weeks ago. we can print money and our fiscal situation has not changed in the last couple weeks but made a move to make it better. chris: i want to get back to the market side what people are focusing on immediately. wall street had a bad week
holiday and beyond. the struggle for and against reforming the health insurance system continues today. shannon: mike emanuel on capitol hill. bill: the man of the hour remains to be mitch mcconnell saying there are only a couple of ways this ends. here is more from him on option one and option two. it will be dealt with in one of two ways. either republicans will agree and change the status quo, or the markets will continue to collapse and we ll have to sit down with senator schumer. my suspicion is that any negotiation with the democrats would include none of the reforms that we would like to make both on the market side and the medicaid side. bill: so how do they move forward? there is one idea from the kentucky republican senator rand paul and they include the following. small businesses pulling resources and coverage. no bail-outs for insurance
the markets will continue to collapse and will have to sit down with senator schumer and my suspicion is that any negotiation with the democrats will include none of the reforms that we would like to make both on the market side and the medicaid side. so for all of those reasons, we need to come up with a solution the american people elected us to do that and we re working hard to get there. heather: mike emanuel is live for us on capitol hill. good morning. senate republican leaders are hoping to make significant progress in the coming days. it will be voting on health care reform after the fourth of july recess. as you mentioned, there are at least nine republican senators opposed to the bill as of late yesterday. one of the conservative critics talked about repealing the very worst parts of obamacare. lets repeal that, let s narrow the focus, but let s not
markets will continue to have to collapse and we have to sit down with senator schumer and my suspicion is any of the negotiations with democrats would include none of the reforms we would like to make on the market side and majority side. i don t think he s too serious about option b. option a getting votes among republicans, how s that going. good morning. reporter: good morning. even though the vote was delayed yesterday, the next 48 to 72 hours will be crucial. this is what leadership wants to continue doing now. continue having conversations with rank and file members and getting no votes to a yes and making changes and want to get this done by the end of this week for two reasons. they want to make sure they have submitted the bill to the cbo