Closed captioning of: More budget head-butting inside the Beltway
>>
back in the u.s., the government shutdown over the budget may have been shut down at the last moment, but not long after that, washington started aurlging over the next thing, the
federal debt
ceiling which is once again approaching fast.
savannah guthrie
is with us tonight from the
white house
. and savannah, literally, the shouting had just stopped about one issue, which i assume will be cleared up before the next one started.
>>
and this fight, brian, promises to be even tougher. the stakes are even higher, as you mentioned, in a few weeks, the u.s. will reach its debt limit. that's the maximum amount the u.s. can borrow. congress will have to raise the debt ceiling. if it does not, the u.s. would default on their loans. some said we would hit recessions. this year, some republicans are saying they won't vote to cut spending unless there's
white house
cutting along with it. some say it's wrong to use that as leverage.
>>
the consequence tz of failing to raise the debt ceiling would be armageddon like. it would be devastating.
>>
well, as the administration makes this argument, it has one political problem. back in
2006
, then
senator barack obama
voted against raising the debt ceiling. that's a vote his spokesman said was a mistake.
>>
savannah guthrie
back at the
white house
on a monday. we turn back overseas for a moment. it's now been
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