of cash on hand from the treasury. lew said by the way, we didn t mean the 17th, we meant the 18th. there s not going to be a default. the reality is we are ignoring the basic problem. people don t like obama care and don t like massive deficits. i don t if you saw this latest report just released by standard & poor s. they say the 16-day government shutdown has already cost the u.s. economy, in their estimate, $24 billion. that s a lot of money. they have no idea, wolf. those are made-up numbers. this is a respected economic forecasting firm. the department of labor hasn t put out any figures for 2 1/2 weeks. the treasury isn t even full strength. it s not good they can t put out those numb bers, because those parts of the treasury has been shut down. because herry reid and the president
thanks for being here. sure. what are you hearing from the white house to treasury? treasury isn t saying anything. a statement that a judgment on a $2 trillion computation error speaks for itself. just got off a conference call with sources, detailed what the error was, it had to do with calculations of levels of discretionary spending over the next several years, a lot of numbers back and north, but essentially this is being portrayed from washington s end as a political decision by s&p. they noted in their downgrade there were political risks associated with the debacle in washington over the debt ceiling, so they founded it largely based on that political exposure. just to recap in terms of s&p s statement on this, i mean,
a political writer for the new york times. thanks for being here. sure. what are you hearing from the white house to treasury? treasury isn t saying anything. a statement that a judgment on a $2 trillion computation error speaks for itself. just got off a conference call with sources, detailed what the error was, it had to do with calculations of levels of discretionary spending over the next several years, a lot of numbers back and north, but essentially this is being portrayed from washington s end as a political decision by s&p. they noted in their downgrade there were political risks associated with the debacle in washington over the debt ceiling, so they founded it largely based on that political exposure. just to recap in terms of s&p s statement on this, i mean,
business from growing and hiring, and that s the problem. the white house today is silent on this. i m stunned. what is their strategy? let me say as a small business owner in america, they are not raising taxes on small businesses. it s just crazy what they re getting away with. bob, your thoughts? first of all, i think we ought to try and have an even bigger fight here. i mean not only are we not raising taxes on small businesses but i think next week when the congress comes back, the president and the democrats ought to have the guts to stands up and say, not only are we going to get rid of the bush tax cuts for the top 2% but we re not going to keep that money right now. the treasury isn t going to keep that money. we re going to send that money out to the middle class so that they ll spend it, so that we ll help stimulate this economy. we could then have a fight between the republicans and the democrats in the issue would be tax cuts for the privileged or tax cuts for people. it