Happens over the next you days in d.c., i know our bloomberg view columnist, al hunt, will be keeping us abreast of the latest . what's the significance of this deal to the president?
It means he doesn't have to have a nervous breakdown right now.
He can have it in december, january and february.
All this is doing is postponing things.
It's setting up a bunch of conditions that will be hard if not impossible to meet and they will have to go through another crisis.
The deal would have the budget conferees come up with something by december 15. couldn't do it after bowles simpson, couldn't do it after the supercommittee, i'm not sure why they are going to do it in the next eight weeks.
The government shutdown would open up again in january, the debt ceiling in late february, so it's good we are going to avoid a crisis now but there will be subsequent crises coming up.
Does anyone seem resolved at all?
Would we spoke to kevin brady from texas, he almost had a sad tone to his voice.
I think the republican party, at least much of the republican party in washington is sad every moment now because it is total chaos.
Democrats should be sadder than they are because it's reflecting on all of government right now, but the republicans are in total, complete disarray.
I've never seen anything like this, going back to watergate times.
They don't like each other, they don't talk to each other, and i don't think that's going to end.
You haven't seen a tone like this since watergate times?
Are you for real?
I am for real.
That was before you were born, i know.
Back then, a consensus was eventually formed.
Here, i see no prospect for a consensus.
There's a consensus to get out of the current crises am a but i don't think anybody says we really screwed up this time, things haven't worked well, we have hurt ourselves, the republican party's rating is at an all-time low, we can't do this again.
People are not saying therefore we are going to do a, b, or see because they don't know what that is.
Republicans themselves are saying we screwed up.
Our colleagues talked to lindsey graham yesterday, and those words are exactly what he used -- screwed up.
He was frustrated that the democratic party had not reached out offering some kind of helping and.
Even the fact things have played out the way that they do, does anybody come out of this looking good?
It depends on who is looking at them.
Lindsey graham thinks the republican party screwed up.
We can probably agree on that.
But if you talk to michele bachmann, stephen king, they probably think the republican party didn't screw up.
That's the great divide.
Michele bachmann, she looking at the polling numbers?
Polling is a snapshot.
It is a glimpse at the moment and if you are in a long-term fight, you can ultimately win it.
That's the view of the tea party republicans.
They're not an insignificant part of the party.
A lot of people in washington don't like it.
Have done terrible harm, but i don't think we should lull ourselves into thinking that faction is going away because it's not.
So what happens next time?
The dow jones industrials are up more than 200 points right now, come january if this senate will extends -- reopens the government until january, should we expect the tea party will once again maneuver in such a way that the government gets shut down?
John boehner doesn't have enough feed for that fire they have waiting for him.
The first deadline will be sometime in december.
Regular order is supposed to come up, i would be shocked if they do.
Even though all of us know the outlines of what has to be done, cut back on entitlements, replace the sequester and add more revenues.
We all know what needs to be done, but what is the reality any of that gets done in a significant way?
Somewhere between none and slim.
And that's being an optimist.
Lend us some political wisdom here.
Investors think this is cause for celebration.
Why else would dow jones be up 200 points?
Rallying five of the past six days.
If john boehner, the way you put it, can barely tolerate what's about to happen to him in december and january and we are going to end up back where we were just a couple of weeks ago, why should anybody be celebrating?
You guys know more about the investors mindset than i do.
There are two different schools.
One says as long as government doesn't cause problems and just get out of the way, things will be fine for a while.
The other says government has to provide a little certainty.
At least short term, we will get something that provides some certainty for a couple of months.
If we get short-term
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