are rigid and extreme. heather: let s talk specifically how we do that. from what i understand it s boiling down to two things. democrats want a long term response to the nation s debt problem to keep medicare and social security intact. republicans wanted spending cuts dollar for dollar, no tax increases. where do you see room for compromise? you just pointed out interesting dynamics. they want dollar for dollar cuts for increase authorized in the debt ceiling. they got that in reid plan. they can t take yes for an answer. when you talk a long sterm strategy or they claim democrats want, i ll use their own words, they were calling in june for a long term solution because it was the only acceptable outcome because of the impact on confidence on the economy. we re sues go their own advice. their own challenge to the process. we want a long term solution.
we are now talking about a bill that extends the debt limit that has no new taxes or revenue and simply cutting spending and you know, i continue to believe that we should have a clean debt ceiling. we did it 17 times under reagan and 8 times under bush and should not mix apples and oranges. cut spending but in order to be fair but let those who can pay more do it. i hear you. but two seconds. but you are talking about the president possibly putting out the nuclear option. but the president where is his plan in the first place. put your own plan out there. why is not not do it. the constitution said the plan has to start with the house. we have the stakes so high at the moment we want to see the specifics republicans are saying under nos to close
we have to work together. republicans should claim victory and go home. we are now talking about a bill that extends the debt limit that has no new taxes or revenue and simply cutting spending and you know, i continue to believe that we should have a clean debt ceiling. we did it 17 times under reagan and 8 times under bush and should not mix apples and oranges. cut spending but in order to be fair but let those who can pay more do it. i hear you. but two seconds. but you are talking about the president possibly putting out the nuclear option. but the president where is his plan in the first place. put your own plan out there. why is not not do it. the constitution said the plan has to start with the house. we have the stakes so high at the moment we want to see the specifics republicans
securities industry, the stock market and businesses and everybody else will be simply severely hurt by huge increases in interest and other costs. congressman, as you look at your colleagues, as you look at speaker boehner and what he had to do so far to date and the difficult positions many have observed he has been put in, in the years you served in congress, have you seen a speaker put in such hardship, if you will, by his own party? i ve never seen anything like this before. i ve never seen a country so put under threat by a group of irresponsible people and never seen a situation where a speaker was so thoroughly repudiated by his own people, particularly on matters where we could resolve the matter fairly simply. the reid plan would give us more time. will make significant large cuts and will see to it we protect
it s quite the showdownon capitol hill today as the nation approaches the 11th hour in the debt ceiling crisis. the house will be meeting in less than an hour. they will reportedly hold a symbolic vote on senator reid s latest plan. meanwhile the senate will reconvene at 1:00 p.m. today. the senate rejected speaker boehner s plan last night hours after it passed the house. david, good morning. good morning, good to be with you. i m glad you re here, do you have a crystal ball here and give us word on what will happen today? i wish i did, but i do think some of the quotes and comments coming out from republicans in this senate indicate they are going to get to a deal. you have senator john thune saying we re closer than you think we might be, even senator jim demint, pretty staunch