jim kramer is host of cnbc's "mad money." jim, first of all, you've got treasury bills coming due next week, tuesday, wednesday. the debt, the gdp numbers today really abysmal. what is your perspective? what the wall street saying today? >> we distill it so everybody at home gets it. there are three possibilities. there's a deal not a great deal, that is the one that produces a ratings downgrade. interest rates do go up as the congress has said. will is the possibility of a good deal, that's the $4 trillion blockbuster. all things are forgiven for the moment. we have we have to focus that the gdp is oweak. and then there's no dole. no deal requires a real leap of faith here. the first one is what we're talk about a soft default. some people will be paid, others won't be paid. if we get no deal, it is chaos. pretty much you can expect every market in the world to go down. that the just unacceptable to the american people. >> treasury was already meeting officials in new york, new york fed officials previously scheduled meeting

and jim kramer, how is wall street reacting and what is the treasury backup plan.n washington. i think it's all of us. "andrea mitchell reports" up "andrea mitchell reports" up next on msnbc.announcer ] anan anthis...is the netwo. a living, breathing intelligence that's helping drive the future of business. in here, inventory can be taught to learn. ♪ machines have a voice. ♪ medical history follows you. it's the at&t network -- a network of possibilities... committed to delivering the most advanced mobile broadband experience to help move business... forward. ♪ [ coughing continues ] [ gasping ] [ elevator bell dings, coughing continues ] [ female announcer ] congress can't ignore the facts: more air pollution means more childhood asthma attacks. [ coughing continues ] log on to lungusa.org and tell washington: don't weaken the clean air act. but when she got asthma, all i could do was worry ! specialists, lots of doctors, lots of advice... and my hands were full. i couldn't sort through it all. with unitedhealthcare, it's different. we have access to great specia