No Easy Compromise: Shutdown Could Last Two Weeks

REPLAY VIDEO
Your next video will start in
Pause

Recommended Videos

  • Info

  • Comments

  • VIDEO TEXT

Oct. 1 (Bloomberg) -- Bloomberg chief Washington correspondent Peter Cook reports on the next steps following the shutdown of the United States government as both sides remain far apart while the debt ceiling debate still hangs over Washington. He speaks on Bloomberg Television’s “Bloomberg Surveillance.”

Members of congress.

This is "the washington post." i left close to 1:00 and i met two nice ladies who started their shift at 10:30 p.m. and they were told to leave their jobs and no idea when they were going to get paid less.

They asked me how long it was last and i said to brace for two weeks.

No indication at this point that we will get a quick resolution.

There are many frayed nerves and frayed relationships and no easy compromise.

No new bargaining chips out there after the back-and-forth negotiations we saw yesterday.

What is next for the house?

Speaker john boehner spoke after midnight about the next step for congress.

The senate has continued to reject our offers.

Under the constitution, there is a way to resolve this process and that's to go to conference and talk to -- through your differences.

I would hope the senate accepts our offer to go to conference and discuss the so we can resolve this for the american people.

Is there any sense realistically that they will talk through the differences and resolve this?

At 9:30 a.m. this morning, harry reid will step onto the floor of the u.s. senate and flatly rejecting it as he did last night what john boehner is talking about.

This is a negotiation that will not happen under these circumstances.

Harry reid and the democrats said maybe we will sit down.

There is no easy solution and this will last longer than people think.

I wonder what the president is doing today.

He tweeted yesterday that they pushed us into shutdown mode, referring to the republicans.

What is on his schedule?

It is not clear right now.

You will hear from the president at some point today.

Democrats are united in this.

He was encouraged by democrats to hold the line.

They think they have the leverage and they think the poll numbers are with them and politically they think this is good for them even though it may not be good for the country in the long run.

They said he should hold out because he will win in the end and that's the view of the democrats.

Expect the president to talk about that.

The question is whether he goes to asia.

I asked the number two republican in the senate if the president should leave and he said he that are not.

Good point, peter cook, bank you.

-- thank you.

He had a night of little sleep.

We need perspective from someone from another time and another place.

David stockman was the director of the office of management and budget under ronald reagan and he has a controversial new book.

It really takes a shot at the fed and we will talk about that in a bit.

Mr.

o'neill and mr.

Reagan could sit down at a table and have a conference or a negotiation.

Why have we lost that ability?

The partisanship is far worse today but also the magnitude of the problem is beyond anything

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

Advertisement

BTV Channel Finder

Channel_finder_loader

ZIP is required for U.S. locations

Bloomberg Television in   change