mike crapo, senator for gang of six guys, will tell us how a super committee will work this time. and stephanie cutter from the white house will explain why the left should quit its griping. but let's get right to my first read of the morning. after months of behind the scenes wrangling and public bickering with the markets on edge in default less than 48 hours away, we have a deal. we don't have a real winner for whatever that is worth. months ago, the president said he wanted his debt ceiling raised clean. last night he acknowledged didn't turn out that way. >> this process has been messy. it has taken far too long. i've been concerned about the impact that it has had on business confidence and consumer confidence and the economy as a whole over the last month. nevertheless, ultimately, the leaders of both parties have found their way to a compromise. >> he left out the crisis and confidence as far as the country has when it comes to its leaders in washington. in the tentative agreement, the president gets the debt limit raised by $2.4 trillion through 2012 in a three-step proce

and another guy who is a pro and who will play a crucial role is senator mike crapo, republican fromom idaho and he deserved on the gang of six and many are saying he would be great on gang of 12. is that what they call it? >>guest: committee, committee. >>neil: the next wave of the next wave of reduction. have people kicked your name around? >>guest: people are making the suggestion and i will just see what senator mcconnell decides to do but i will work closely with them one way or another. >>neil: a gang or a committee, are you slur you would want that? >>guest: the knives are out. and they will be out on this, too, but it is important. >>neil: but the junior goal is to come up with $1 trillion plus in additional cuts that are already hinting of revenue or tax hikes and you have the tea party members hearing it and will we see all of this we have just seen all over again in another few months? >>guest: we probably well and we probably would even without the committee because we have $14.5 trillion debt and the step we took today which is important is a $2.5 trillion step. we need