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FNC's Mike Emanuel with the latest on the debt debate and President Obama's USA Today editorial's effect on the talks.
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Even more an editorial in USA today by President Obama Mike Emanuel is standing by live.
From the white house with everything that you need and -- might.
They're the central question is there a Deal or No Deal and does this USA today.
Editorial complicate things at all.
But day to my sense is the USA today piece essentially is the president making his case to directly to the American people that this is -- unique opportunity.
For lawmakers the federal government to do something big and do something meaningful.
About the nation's deficit and debt problem.
Not clear whether -- complicate matters but.
There's been a lot of buzz here in Washington about whether or not the president and speaker of the house John Boehner.
Have collaborated to come up with they deal a major deal.
There a lot of concerns on the democratic side whether they -- cut out of the negotiations altogether.
Here at the White House here's white house Press Secretary Jay Carney.
There is no deal we -- not close to a deal we are obviously the president is in discussions with.
All the leaders of congress.
As well as other members.
And exploring the possibility of getting the biggest deal possible which is the position is held for a long time now as you know.
Despite -- make in the case -- that very public way that there was no deal.
-- democratic leaders were here at the White House for an hour and 45 minutes last night with the president.
And when they left they did not look very happy.
Clearly feeling like perhaps they've been -- out of some of the talks.
Once -- a cut -- and balance is ultimately killed we believe in the senate later today -- -- Well that's the thing Mike and I'll ask you this about the other side of the aisle because you have the president with his problems and his party as you talk about.
You gotta convince the Democrats they get the speaker John Boehner negotiating with the president -- to rally.
The Republicans in the house still how's that going.
-- -- no question about that and you get a sense that he didn't want any talk of a deal because.
House Republicans are still holding out hope that cut -- and balance could be that a deal.
So they want to wait for the senate to vote on before they talk about any other plan.
We've seen the speaker bring in experts to talk about the impact if you will if there is no deal struck.
And in the speaker very publicly made his case yesterday take a listen to this.
If the united states of America's debt rating dips down -- every interest rate in America will go up.
It is -- if it is important for for us to act on both front.
So speaker of the house they're making a case very publicly about the impact to every American family if there is no deal struck.
Another bit of strategy is the senate will be in session this weekend that house is not going to be in session -- some thought that may be sending members home.
To perhaps -- earful from their constituents.
-- Now.
What might one thing that we've that -- -- I've talked about privately is that the people that Tea Party members and their constituents.
One of the reasons that they potentially.
Are not in favor of raising the debt ceiling at all is because they -- -- you with the bailout the bank bailout TARP.
They were told that oh there's such an urgency the world's gonna come to an end and you're starting to hear the same talk from but.
The Republicans and the Democrats that you have to raise the debt ceiling and I deep down they don't really -- it did I.
Well -- there there is a certain sense of crying wolf you guys would know the markets better than I would but I've got some family on Wall Street and and and what I've been told -- you know you do not want to spook the markets in the computerized trading these days there there is a little bit of concern.
If there's a run on something where it is today and -- doesn't stop and so but they're clearly some members who.
Won't be convinced until they see the markets freak out and the concern is if that happens maybe we've waited too long.
Why that's exactly why would you ever wanna tempt fate when we have maybe one of the only things it's going for us try to get out all this mess that we're in economically is the fact that interest rates are as low as they are.
If you we go through and don't pass something here in interest rates spike up the you don't even have got going for you any more -- -- -- is key question Mike to.
Earlier on in the morning and it really is at the end of the day the key question you get past all the back and forth will be Boehner Obama will be the back up plan.
At the end of the day do you see any scenario right now or what probability would you give that from your reporting that we don't actually get something done and we don't raise the debt ceiling.
I'll I believe at the end of the day they're gonna get something done I just think the way Washington is working right now -- things so polarized.
It'll probably be at the last minute and so.
A lot of people did not want to talk about a plan B in congress because they wanna see what happens to cut -- and balance.
If that is disposed of later this morning which we expect.
Then will we hear more details from the White House the speaker Boehner.
Perhaps.
All I know is that when the Democrats left the White House last night.
There were a lot of long faces and so the president has his sales job to the Democrats in congress the speaker of the house has his sales job.
To house Republicans who maybe don't want to cut a deal and so.
The battle lines are drawn it's going to be a long weekend.
If if even at the house is not in session there'd be a lot of phone calls and a lot of talks about trying to get.
A deal done.
Night thank you so much terrific to see this morning you have -- great that get some rest.
Mike Emanuel provocative think they're gonna -- McConnell roll quick I was when I -- talk about the market reaction yes you think back to when TARP was signed into law what happened.
It failed the market collapsed.
Branded it was voted and the loss why don't -- that it.
