medicaid, and they think this would make it harder for them to run for re-election next year demonizing the republicans as wanting to take away all the entitlement benefits. and there is a question of timing. in the previous deal that fell apart when boehner walked away the tax officers were beginning to come right away and some of the spending cuts would not come for a while and republicans say that is always how it is but if this deal the spending cuts come first and the tax reform next. democrats are worried we will get the spenting cuts but are we sure the republicans will make good on the revenue increases, so there is a lot of, to use ron s old phrase, trust but verify, and everybody seems unhappy so it must be a good deal. gregg: that is the litmus test in washington. thank you, chris wallace. chris has a big guest this weekend and you can catch more on fox news sunday, treasury secretary geithner will be his guest this week.
else. gregg: geithner warns of catastrophic consequences if the debt ceiling was not raised by march 13. came and went. and then march 1, saying no, the date is april 15th and then, no, the date is may 16. on may 2nd, no, he says the real date is august 2nd. can one argue that geithner is crying wolf? guest: well, the reason you were able to extend it this way is by essentially the government moving pools of money around in various accounts. you are taking money set aside for certain government pensions and putting it here. there is no single date when we absolutely know the ability to spend on interest rates goes to zero. really, what it is, the matter of routinely rolling over existing debt and reagainsting refinancing it. a legendary investor gave a rare interview to the wall street journal and he said
about, too, the economy having yet another headwind if you have chaos end to certain government programs, that is not going to be good for the economy. this is outside fear, too, the federal markets could be thrown into disarray and potentially interest rates going higher because people sell off treasury bonds. this is not sure. but i do think that is the fear and just the fear of general uncertainty. treasury secretary geithner recently wrote the following failure to raise the limit precipitate as default by the united states, republicans say that is utter nonsense. there is more than enough monthly revenue to cover the debt. guest: yes. there is. you obviously have to prioritize all of your expenditures and if you want to use that monthly revenue to cover the interest payments and maturing debt, you have to do a lot less everywhere
because people sell off treasury bonds. this is not sure. but i do think that is the fear and just the fear of general uncertainty. treasury secretary geithner recently wrote the following failure to raise the limit precipitate as default by the united states, republicans say that is utter nonsense. there is more than enough monthly revenue to cover the debt. guest: yes. there is. you obviously have to prioritize all of your expenditures and if you want to use that monthly revenue to cover the interest payments and maturing debt, you have to do a lot less everywhere else. gregg: geithner warns of catastrophic consequences if the debt ceiling was not raised by march 13. came and went. and then march 1, saying no, the date is april 15th and then, no, the date is may 16. on may 2nd, no, he says the real date is august 2nd. can one argue that geithner is
the spending cuts would not come for a while and republicans say that is always how it is but if this deal the spending cuts come first and the tax reform next. democrats are worried we will get the spenting cuts but are we sure the republicans will make good on the revenue increases, so there is a lot of, to use ron s old phrase, trust but verify, and everybody seems unhappy so it must be a good deal. gregg: that is the litmus test in washington. thank you, chris wallace. chris has a big guest this weekend and you can catch more on fox news sunday, treasury secretary geithner will be his guest this week. so be sure to check color local lifting for show times. a deal to get nfl players back on the board. the owners are on board but what about the players? stay tuned.