Reid: No Amount of Talking Will End Shutdown

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Oct. 9 (Bloomberg) -- Bloomberg's Phil Mattingly reports on the latest developments in the U.S. debt ceiling impasse. He speaks on Bloomberg Television's "Bloomberg West." (Source: Bloomberg)

Third year of these fights between democrats and republicans when it comes to the debt ceiling.

Is this part of the business?

Do feelings get hurt permanently?

These guys have a tough stand.

They know how it works between the two parties, particularly when they clash up.

What we have seen is interesting.

The senate democratic leader harry reid has taken aim at house speaker john boehner in a way we have not seen before.

He has questioned his leadership and if he can't control his conference at all.

Listen to what he had to say on the senate floor.

Am happy to talk to john boehner anytime.

We have talked.

It is hot -- obvious no amount of speaking will prevent the catastrophic default.

Would bother speaker boehner staff what bothers the speaker himself is that it has gotten personal between the two camps.

People disagree on things, but they have to be ordinal.

They have to negotiate a way out.

Any discussions happening about what happens if they do not reach a solution by october 17 debt ceiling deadline?

I think from the house republican side, the democrats say it is getting to the day.

He goes back to the relationship between senator reid and speaker john boehner.

What would happen if we went forward with that deadline and went over the cliff?

People are aware of it.

It will be interesting to see.

Secretary jack lew will be testifying about what would occur if they do not find a resolution.

What treasury would be able to do an possible contingency plans, things of that nature.

That will be telling.

A lot of them question whether that treasury would be able to prioritize.

Jack lew will be fascinating to watch tomorrow.

We will be watching.

This text has been automatically generated. It may not be 100% accurate.

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