the rise. the dollar plummet. economic activity can slow down which could push abuse reception. none of the scenarios are pretty. even the u.s. credit rating and you may see the credit rating agencies actually looking at u.s. credit, even if we don t get to that date. the closer we get to that date the quicker they may feel it s a possible to downgrade our aaa. s&p was the last to do that two years ago. and since may. neil: it s interesting melissa. obviously congress would responsible to a tantrum in the market. this is the first t.a.r.p. vote generate of it didn t go nearly, 800 fell on the dow, they changed course and got a t.a.r.p. rescue package together. so, is following the dow s lead actually a wise idea? no, of course it s not. but right now i think that traders realize they have some
the last 12 or so hours, you ve heard senators moving in the direction starting to absorb the administration s argument that doing nothing really would put the credibility of the united states on the line. so i think that there are some key voices that are starting to come around. you saw major jewish groups today come out and say that they want to support the president which could be a key factor up on the hill. you also saw both nancy pelosi and john boehner in the house coming out and saying that they support strikes and it s really very rare that a vote has not that s had support from both of those leaders has not ultimately gone through the house. the bailout vote, the t.a.r.p. vote, is one exception to that. the first t.a.r.p. vote. otherwise the across the board point to this going through. now, whether or not they can negotiate still rocky waters between now and next week remains to be seen. nbc news political reporter and producer kasie hunt on day one of the debate that i
event congress says no considering the constitution tee declares congress has the power to declare war. congress said definitively even if congress votes this down, the president still has the constitutional authority to strike. there s no question, though, were a congress voted down and obama to proceed anyway, it would be an extraordinarily difficult moment. i would say over the course of the last 12 or so hours, you ve heard senators moving in the direction starting to absorb the administration s argument that doing nothing really would put the credibility of the united states on the line. so i think that there are some key voices that are starting to come around. you saw major jewish groups today come out and say that they want to support the president which could be a key factor up on the hill. you also saw both nancy pelosi and john boehner in the house coming out and saying that they support strikes and it s really very rare that a vote has not that s had support from both of
coming out and saying that they support strikes and it s really very rare that a vote has not that s had support from both of those leaders has not ultimately gone through the house. the bailout vote, the t.a.r.p. vote, is one exception to that. the first t.a.r.p. vote. otherwise the across the board point to this going through. now, whether or not they can negotiate still rocky waters between now and next week remains to be seen. nbc news political reporter and producer kasie hunt on day one of the debate that i m looking forward to every day of. thank you very much. appreciate it. thanks, rachel. all right. news from virginia today. and also from the dis-topian fake future in which a recent election went the other way. [ male announcer ] some things are designed to draw crowds.
about here will take more shape in the days to come. nancy pelosi is critical. she came out 100% behind the president yesterday. she had been milquetoast earlier in the week. harry reid came out 100% behind the president yesterday. nobody in congress is better at whipping votes than nancy pelosi. that matters. the thing this reminds me the most of is the first t.a.r.p. vote, wall street bailout. that didn t go so well first time around, the entire congressional leadership behind it. yet when it went to the floor john boehner called it a mud sandwich and worse behind closed doors. they voted it down but eventually voted yes. there s only one shot on this one. i think you re going to see a similar kind of coalition where the leadership by and large in both parties is going to support the president here. the question is will there be followership? can john boehner he s got