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that they don t want to default. they want to avoid that, but they don t agree on how to do it. mccarthy wants to hold it at hostage in return for massive cuts on discretionary programs meaning basically everything but social security and medicare which along with defense, make up the clear bulk of the budget while president biden has been adamant that no cuts are on the table. none. so what are these guys going to talk about? and how will mitch mcconnell, chuck schumer and hakeem jefferies factor in? they will also be at that may 9th meeting. does it end an agreement to disagree until this fall? in other words, a short-term deal to avoid collapse? because that is what economists are worried about, a default that will send the markets into a freefall, add rocket fuel to inflation, slash millions of jobs, cut off social security payments and veterans benefits and drag the u.s. economy into an ugly and potentially prolonged recession. no one wants that. joining me now is ....
Prolonged recession. no one wants that. joining me now is nbc news capitol hill correspondent, ali vitale and msnbc business and data reporter brian chung. no one wants that, ali, but the two sides don t seem to have anything that they agree on. talk to me about what the expectation are and how hakeem jefferies or mitch mcconnell might factor into this. no one wants that, but that s about the only thing they can agree on here because the paths to averting a debt ceiling crisis like this one are completely divergent based on what party you re talking to. we know house speaker mccarthy has been trying to cajole prsz back to the table passing that bill by the slimmest of majorities in his conference, and nevertheless, using it as an excuse by saying house republicans are doing something here and meanwhile we re watching democrats dig in their heels saying they ll talk about budget cuts and it s separate ....