what s important to keep in mind is the one thing congress really operates under is a deadline. at this point, there isn t a if you remember deadline in place. one of the most revealing things we heard from hakeem jeffriess is he is waiting to see what the treasury department says next week about when they will run out of the extraordinary measures to continue to pay the country s bills. i think once we see a firm date, if it s in the middle of june, that s when we will likely see negotiations start to heat up, because right now there s no motivating factor. both sides are in a staring contest and waiting to see which side blinks first. they may get signals from wall street, mike. there s a lot of nervousness. you see a difference in short and long-term bond rates. this is what it comes down to when you are president of the united states. the white house is confident in 2011, republicans did get a lot of the blame for the standoff which was resolved.
pass what is something that you can pass that should at least begin the conversation about what path forward there could be in some sort of compromise between the two sides to get a debt ceiling bill passed. now, at this point the white house seems pretty entrenched that they are not open to negotiating this they want a clean debt ceiling with no strings attached, but at some point, there s going to have to be a reality check for all sides involved that the bill that the republicans passed yesterday has no chance of becoming law and that the democrats are really in a position where it s going to be very difficult, if not impossible for a clean debt ceiling to pass the republican-led house and there s going to have to be some sort of compromise this is a staring contest once again with both sides looking at each other and the other waiting to make the first move kevin mccarthy crossed a very important hurdle yesterday by demonstrating that he could marshal enough republican votes to get
but the bill is likely doa in the senate this bill would extend it to 2024 joining us now with more is nbc news capitol hill correspondent ryan nobles. good morning what is next for this bill well, it is a staring contest, jose. democrats seem pretty entrenched in their position that they re not going to pass anything other than a clean debt ceiling and now kevin mccarthy has basically made the first move on this chess board by offering up a package that democrats would never support and will likely never become law but he has shown his house can pass something listen to how republican leaders are responding to what they accomplished yesterday we have taken action, so what s really going to happen here, the senate needs to pass a bill if chuck schumer believes a clean bill can pass, put it on the floor then the thing you have to realize is you have a 60-vote margin in the senate he can t pass it manchin says he won t vote for that either. so they got to find something and they need
layers to this and some has to do with the policy decisions a couple years ago when the banks were deregulated and the culture wars within the republican party and as a result it could end up with a staring contest on capitol hill in terms of whether there s any real reform. there s senators like elizabeth warren blaming the deregulation laws passed in 2018 as part of what caused this to happen but then you have some republican members of congress accusing the business practices and the investment decisions made to take into account things like environmental concerns and diversity as to what led the bank fallout so there s going to be a lot of finger pointing in washington as there often is on issues like these. but whether it leads to any resolution or policy precipitation i think we re a long way off from knowing. the treasury secretary is going to be on capitol hill later this week and she ll be asked some
spending he set into law that were approved with wide bipartisan majorities in most cases on capitol hill. this is not a this is a staring contest that s very far from over, and i agree with kayla. i do think according to the experts i talked to, the real likelihood here is sometime middle of july to end of july, so that s what i think that s where i think we re heading. hope you don t have a concert to go to. seven shows at msg, we re screwed once again. let s talk about social security and medicare. the cbo says both programs need more money. by the time you and i will be taking out social security, not even us, ten years from now, if you re taking out social security, you re not going to get your full benefit, unless more taxes are raised or spending is cut and put into medicare and social security.