here now this week is how do you not do some further and perhaps terrible damage to that economy as aopposed to how we do something good for the economy? i mean, when you step back from this, that's the opportunity that's been lost. >> and charlie, we talk=Áq about default as almost, well, no one will do that, that's a terrible word, all that. it's beginning to dawn on people, what that means is, if we go there, we decide the chinese bondholders are more important than social security recipients supposed to get checks on august 3rd? i wouldn't want to be a politician making that cice. are the bondholders more important than the sergeant in afghanistan? that's a tough decision to make. those are the kinds of choices that have to be made, the kind of contingency plans that the treasury is mapping out today. it really terribly dangerous. >> let me ask you, before i turn to bigger issues, what are the political consequences for the president, for the speaker of the house, and for those republicans who are taking a hard-line in the house of representatives? >> well, i mean, i think the president