. >> history would tell us, if you look at graham and haulens enacted 25 years ago, an amendment to get a debt ceiling passed which should remind you of what happened last summer, history tells us that it will take that kind of brinkmanship, frankly, to get something done. our estimate at the bipartisan policy center is that sometime in late december or early january, treasury will announce they have to resort to extraordinary measures because of the debt ceiling would be breached. that and the exploration of the bush tax cuts and implementation under current law sequester, as mr. van hollen said, offers some possibility, but you know, after 40 years of doing this and being a doorscotts i have to say the odds are they'll kick most of these grenades down until the bomb vigilantes decide to exact punishment. >> do you agree with chairman ryan it's waiting for this election and once that's over they'll pounce? >> you know, it's not a secret. movies as already told us if nothing happens by january they will downgrade the sovereign debt. fitch says the same thing and john chambers of standar