Deal. Thats the way it has worked. And its gramm rudman, its the 1990 balanced budget agreement or the Andrews Air Force base agreement. Its the 1997 balanced budget agreement. Its paygo rules that many in this committee on the other side of the aisle talk about favorably. Of course, its the 19 its the most recent budget control act, just a couple of years ago. All in the context of the debt limit. So my view is kind of strange the president would, one, not want to negotiate, but, two, say we havent added stuff. Its all that has worked to deal with this. And you indicated this earlier, it only makes common sense because its a tough vote, as you said. Why . Because our constituents dont get it. You know, why would you extend the credit card again, go over the limit again without dealing with the underlying problem . And thats why, you know, the polling shows that by over two to one the American People say, yes, we should extend the debt limit but only if we deal with the underlying prob
A benchmark for credit markets source of world, as a safe investment. I hope as we have this discussion we can be candid about what we are talking about here. As we all know, if we do not raise the debt ceiling sometime soon, then at some point we will have disruptive consequences, because tax revenue is only 85 of all the money we are planning to spend, not 100 , and that means the other 15th percent 50 has got to be our it, and if not, then you have to make some decisions about what gets cut. That is disruptive, not where we want to go, and i hope the president will agree to actually address the underlying problems underlying problems that got us are so we can avoid it. Having said that, there is no circumstances under which we should ever tolerate choosing, willfully, to make sure that a missed payment would include a missed payment on the Treasury Security. Processing because of uniquely Important Role the treasury securities play. I was disappointed that the treasury secretary in
We will negotiate with you about anything. Would you accept a shortterm deal . We are going to look at anything they send us. Meeting,ng out of this they have changed on how much time they want on the debt limit. Lets just wait and see. We will just wait and see. They cannot decide what they want. Up until now, there has been a very clear position which is, we need a clean cr. We need to open the government before we engage in negotiations. To negotiateant before you reopen the government. Not going to happen. Are we closer to a solution now with this . Bysenator harry reid joined his fellow Senate Democrats Chuck Schumer of new york, dick durbin of illinois, patty murray of Washington State speaking to reporters following their meeting with the president. Tomorrow, the president has his final session with members of congress. Senate republicans will be at the white house. We are rejoined by Carrie Budoff brown who is following all of this as senior White House Reporter for political p
Uncertainity over the situation put traders on edge as stocks fell and gold and oil gained ground. Fdic sues 16 of the Worlds Largest banks. Accusing them of manipulating libor rates. Quiznos files for bankruptcy protection after years of struggling with high debt and stiff competition. And according to an sec filing obtained by fox news, target officials admit the holiday cyber breach may be worse than suspected. Trader Ben Lichtenstein of tradersaudio dot com joins us on the show this morning. Good morning to you ben. Good morning. So what kind of fallout do you think well see in the market. Will we see a major fallout or will it be a kneejerk reaction after that vote in the ukraine . I think it really depends on key levels and consistency or conviction if you will and energy above or below those levels. Last week closing out the day on friday we had some weakness in the market but unable to really release to the downside. So that downside level is certainly established right now aro
Airline outperforms rivals proposing a special dividend for shareholders. And european car sales continue to reboind. Renault and toyota leading the way. Daimler gains ground on its luxury peers. Announcer youre watching Worldwide Exchange, bringing you Business News from around the globe. Okay. A warm welcome to todays Worldwide Exchange. Were an hour into the session here in europe. You can see stocks in the red, 9 to 1 decliners outpacing advancers just about on the Dow Jones Stoxx 600. We are at the lows of the session, albeit only 60 minutes in. Speaking at the reuterss Global Investment summit, carl icahn says valuations are rich. Later on on his website, carl icahn elaborated saying while hes concerned about market levels, its almost impossible to predict whats going to happen in the shortterm. So he says at times like this, he hedges his investment to some extent and icahn says picking up shortterm moves is market is predicting how many sevens the hot dice player will continue