We Are Entering a Banana Republican Mindset: Reid

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Sept. 30 (Bloomberg) –- Bloomberg’s Peter Cook and Julianna Goldman report on the latest moves by the House Republicans and the measures they are going to send to the Senate tonight to potentially avoid a government shutdown at midnight. They speak with Trish Regan on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)

Let's walk through where we stand right now.

As we know the senate has kicked to this back to the house, a clean bill.

These are some of the measures they will put in place before sending it active the senate tonight.

What are those?

Will they be sis -- successful?

We will have one more round of ping-pong.

House republicans are trying to get a one-year delay in one component, the individual mandate.

They will also try to strip out the subsidies.

This has been controversial and something that they have talked about for some time.

We already know that it is not going to happen.

This is harry reid and john boehner this afternoon talking past each other.

The idea of a short-term extension was floated and i will be clear, the senate bill is a short-term extension.

This is a six week funding bill.

That is all it is, six weeks.

This is the first time we have heard this banana republic and mindset.

That is not going to happen.

Not happen every?

The house will act this evening and we will send it over to the senate.

We already know how this is going to play out.

It will not be accepted in the house.

The question about democrats and republicans, it is the possibility, we are looking at probably all of a sudden merging this issue with the debt ceiling together.

One big fight from mid-october to october 17. one tough vote is to tougher votes, for sure.

Giuliana, are you hearing anything from the white house in terms of the possibility of the president yang able to extend the debt limit to october 17? just some breaking news right now, the president will be delivering a statement to the press on the latest in this shutdown drama.

Originally scheduled for today, he is supposed to be matting -- meeting for a press session.

Then we will be meeting with his cabinet.

In terms of negotiation, the white house is saying that the president is adamant that he needs to break this republican cycle of the belief that they think they can extract the toll of a budget debt limit deadline, so there will be absolutely no negotiation at all, certainly nothing right now that involves non--- budgetary related issues.

Earlier today the president said that when he was meeting with benjamin netanyahu that he was not resigned to a shutdown, but that he wanted everyone to come together and pass a clean and continuing resolution to fund the government and get it together to talk about these long-term challenges and talk about these longer-term fiscal goals.

As we send this forward, we look ahead over the next several weeks, with october 17 being the big deadline.

Is there any talk at all as to whether or not the president would look to extend an executive order their?

Preventing us from going into default?

There is no talk of that right now, but the talk inside is that the bigger concern is the debt ceiling and the potential for default.

I think that is why you will see the president's response to the shutdown more muted than as we head towards the october 17th deadline.

Giuliana goldman, thank you

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

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