i think as of now, the administration s insisting that they are not going to give in to that, that the president will veto it, that the senate will not even let it get to his desk. we just have to wait and see what happens after the senate vote tonight. i expect that democrats will hold against it. the logical thing to happen after that would be negotiation between the two sides. i think it will be difficult for republicans to resist a call to do that. john, finally, what if something happens outside of their control? obviously the most obvious example would be the ratings agencies. what if there is some sort of downgrade after markets close friday night? then what do they do? i think that will put tremendous pressure especially on the republicans. if you look at the polls, the american public wants both sides to compromise. the republican base is saying they don t want their elected leaders to compromise. we saw that in a poll last week. i think at that point, if you had evident c
take the fall. we ll talk about that columnist, what he said, in that writing about then minutes from now. in the meantime answer are your decide question at foxnews.com. we are asking what federal fiscal issue most concerns you? is it the debt, taxes? is it a downgrade by the ratings agencies for u.s. debtor is it the big question of default and whether or not it would indeed have to happen? weigh in, you can see what other folks are saying there, we ll check back in on that survey in a little while. let s go for a moment to the state of alabama where educators are raising concerns about the state s new immigration law. the people who run the school district are complaining that following that law may put them at risk of losing federal funding. jonathan serrie has that story live from atlanta. reporter: sponsors of the new law say it s going to give alabama taxpayers an accurate assessment of just how much they
main street calling wall street to ask what a deadbeat government would mean to its future. by and large the biggest question by far is what should i do with my portfolio? should i get out? reporter: the stakes are high and americans know it. going to the edge of a cliff may be exciting for some people but it doesn t make sense for a way of running a country. reporter: even if washington avoids an actual default with a short-term solution that could still be expensive. with credit agencies downgrading america s aaa rating, costing banks and then everyone more to borrow. citibank warning its customers, the kick the can down the road path, now option a in washington, would not impress the ratings agencies. if they downgrade the u.s. treasury, that will be the most significant downgrade in the history of rating agencies. reporter: what would the downgrade alone mean to you? analysts forecast a 6% drop in the stock market. the average 401(k) of $140,000 would lose $9,000. mor
blame. the debt crisis, here you go. the deepening stalemate. president obama reaches out to a new player and the game is you. in norway, breivik s father wish his son would have killed himself rather than slaughter dozens of people. bp has a big turnaround. the company raked in more than $22 billion in profits for the quarter! the debt, minute-by-minute, the nation inches closer to the brink of twault. the countdown less than seven full days before the federal government runs out of money and unable to pay its bills. in washington a stark message is delivered between the president and the speaker of the house. their parties are desperately divided and you and i are about to pay the price. we are covering all of the angles from wall street to the white house. ali velshi getting really creative and looking at the cost americans could face even before time officially runs out. of course, dan lothian with the politics and the posturing. ali, let s start with you. the mar
agency s&p and moody s, is this going to be any more calming or is it going to have you pull the trigger and downgrade now? i think when you have a plan. at least the idea of a couple of concrete plans the harry reid plan, the boehner plan in the house that might calm people down that is a question that some have been asking. the republican freshman from michigan raised that point. he said what if we have a plan, we pass something and get downgraded any way? that was something we heard last week from the rating agencies people. huizenga says we don t want the good to be the enemy of the perfect. or the perfect to be the enemy of the god. the question is, is this good enough? further s in good enough for the ratings agencies. neil: thank you. meanwhile, to a tea party congressman on what he will and will not accept. with me louisiana congressman