i feel they all need to get their acts together and settle this thing. it s a self-inflicted wound and i think washington should be thoroughly embarrassed about it. tell me your name and the city you re calling from. as thousands called capitol hill, the conservative group heritage action warned tea party lawmakers to vote no on the latest six-month republican plan to hike the debt limit and cut spending, 1.2 trillion. can john boehner get his own plan passed? it s reasonable, it s responsible. it can pass the house, and it can pass the senate. no, it won t said the white house. the speaker s proposal cannot pass the senate, will not pass the senate, will not reach the president s desk. compromise? not last night or today. the spending is out of control, we have to get it under control. republicans are focused. how do you negotiate with a group of people when they believe that it is rush limbaugh who should decide the future of this country. reporter: 83
debt limit deal in time to avoid an historic default? prime-time speeches by president obama and house speaker john boehner didn t leave many people optimistic this morning, including investors on wall street, where stocks are starting the the day lower. nbc s kristen welker has more on the stalemate and what happens next. tonight i want to talk about the debate we ve been having in washington reporter: for only the seventh time in his presidency, mr. obama delivered a prime-time speech painting a dire picture of what will happen if congress doesn t raise the nation s debt ceiling by next week. interest rates would skyrocket on credit cards, on mortgages, and on car loans, which amounts to a huge tax hike on the american people. reporter: despite weeks of partisan wrangling, the president still pushed for a balance approached. cut spending and raise tax revenue. the only reason this balanced approach isn t on its way to becoming law right now is because a signific