Shutdown Aftermath: Sequestration Fight Is Coming

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Oct. 18 (Bloomberg) -- Bloomberg News Washington correspondent Phil Mattingly reports on the negotiations for a budget now that the government has been re-opened and how further sequestration cuts may help shape talks. He speaks on Bloomberg Television’s “Bloomberg Surveillance.”

To crisis, can we expect any progress on fiscal issues before the next deadline?

There are other items like immigration reform.

Phil mattingly joins us now from our dc bureau.

How far apart are the two sides at this point post shutdown -- will they be able to agree on a budget in time?

I think everybody is relieved to go into a weekend without a self-imposed financial crisis.

The budget is an issue where the president and republicans feel there is a path forward but they're not sure if they can get there.

There are two incentives that could push both sides to a deal they have been unable to reach for the last three years.

Sequestration cuts, the second round is kicking in january 15, completely untenable for democrats for republicans, this shutdown was terrible for their numbers and they're starting to head into the midterm midterm season and mitch mcconnell said yesterday that a shutdown is off the table.

There is your guidepost right there.

You need to find the middle ground to start working towards a deal.

Where does the administration come in here on these negotiations?

President obama spoke yesterday about this.

There has been discussion lately of the politics of this shutdown.

Let's be clear -- there are no winners here.

These last few weeks have inflicted completely unnecessary damage on our economy.

That has been the president's motto -- there are no winners here.

We are starting to tally the economic damage but how will the white house step in to make sure we don't go from crisis to crisis?

That was the point of this last debate and negotiation.

The white house said if we don't come to the table on anything, we will force them to stop this idea of using these types of issues of hunting the government and debt ceiling as leverage.

We are not sure everyone is on board but the administration has an agenda just to finish this year.

They feel on immigration where a bill has already passed the senate, there might be movement there.

There is a farm will.

-- bill.

It all goes back to the budget.

There is middle ground there from bowles simpson, past negotiations in 2011 -- they feel there is a sweet spot there.

Thank you, phil mattingly.

Jim demint is trying to rally

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

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