armageddon situation. reporter: but greg ipp the editor of the u.s. economist says the rest of the world has no u in seeing the u.s. collapse into bankruptcy. in the case of the chinese, they are not buying the treasury bonds as a charitable act, they are doing it to prop up the dollar to export easier to the united states. reporter: the bottom line it affects everyone. if the u.s. has to pay more to borrow money, it will trickle down the higher interest rates from car loans and mortgage loans and that will ultimately hurt economic growth. thank you, mary. candy crowley is joining us together with john king who is the host of john king usa which airs at the top of the hour, and also our political, and senior political analyst gloria borger. okay. candy and john and gloria, we are all set. i m john. okay. gloria, you are first. the debt commission, they come