look this shutdown has cost according to s & p cost $24 billion the threat of default has had an adverse effect on our economy. i think every reasonable economist has said a default would be cat trophic where the we're the reserve currency to the world. the implication of that are difficult to even contemplate. so i think this has shown we have to come together and how -- go through the budget process. we did cuts in spending. the president said we need to do the same thing. more targeted kinds in spending, and we can do that, about you we need to go through the regular process inlts i've been fascinated by this assertion. the stock market from the beginning of this fight to today hasn't moved. >> you know why? because they cannot that the republican leaders in the congress would be so reckleqreq allow the u.s. to default. frankly i hope they're right, because they realize to do that would be so catastrophic. >> there's only oneerson that can bng us to default and arack obama. in fa baracobama mad it clear he was willing to default. we passed a bill out of the house to take default off t

s. costing the taxpayer billions of dollars a year but it seems that it has hardly been winning this battle with many questioning its economic sense and according to the latest numbers over the last forty years it cost washington at least one trillion dollars despite all america's efforts in the years between one thousand nine hundred ninety and two thousand and seven the average price of heroin cocaine and kind of is has suffered a nosedive oh about eighty percent but not only have the drugs become cheaper the piri see on the contrary has risen. from the international center for science and drug policy says the u.s. will and drugs is based on long strategies given the billions that has been spent over the past two decades in particular on the war on drugs and just the increasing volume of drug seizures over this time it's surprising that these trends towards lower prices increasing truly are so stark at present you know i don't think there is a lot of interest in moving towards more effective approaches i would suggest that you know it doesn't matter what you do to try to contain this market when it's worth three hundred fifty billion a year glob

cost at least $24 billion. that's about $1.5 billion each day according to s&p. and they say the impact is not necessarily over. they say consumer confidence has and people will remain afraid to open up their checkbooks and that will hurt the economy. >>> two years ago that s&p downgraded america's credit rating. they did that despite a last-minute washington deal to raise the debt ceiling. so, what is s&p thinking right now in the wake of another 11th hour deal? cnn asked managing director there, john chambers. >> the reason we're at aa-plus and not aaa, there's a couple reasons but the main reason is that the fact that you even have to worry about the u.s. government paying its debt on time would indicate that it's not -- the government's not worthy of a aa rating. we think it will be back here in january, debating the same issues. and that given the composition of congress, that it will be probably still acrimonious and we'll have to see where we are then. but this is, i fear, a permanent feature of our budgetary process. >> well, if it's a permanent feature, it's certainly going to have the markets on edge. the 11th hour deal that saves th