senator isakson, we certainly are watching every move.nny isakson, thank you, sir, we appreciate your time. >> thank you very much. cheryl: all right, well, to be continuud, certainly, as we have 40 minute toss go. closing bell's going to ring whether washington has anything to say about it or not, but what is the white house saying to wall street about the deadlock on capitol hill? is the obama administration putting pressure on ceos to speak out? some have already. charlie gasparino's going to have exclusive details, coming up. ♪ ♪ thk you ville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comfortsbove. we're not simply saluting history... we're making it. ♪ ♪ cheryl: wall street with executives continue to be involved in the debt ceiling debate. charlie gasparino is here now wit

an that senator senator johnny isakson, republican from georgia, joining us right now.h for coming in. >> good afternoon, wolf. good to be with you. >> so what was a dumb idea? >> well, defunding obama care or shutting down the government was an impossible goal to achieve because most of obama care is mandatory spending and you've got a democratic president with a vote toe pen and senate majority of democrats in the senate. so the goal should have been more achievable, shutting down the government should never have been a predicate for it. >> so that was a dumb idea knowing the president would never sign any law defunding. what about delaying obama care? that was the second pitch the republicans in the house put food? was that a dumb idea, as well. >> it's a better idea. john boehner talked about a two-year delay in the medical device tax which has not been totally ruled out in discussions i've been in. we're moving towards common ground and moving towards a solution. i think everybody save a very few people in washington realize we need to end the shutdown and bring am

default tonight, but we may have a deal and the votes will be set to -- we'll talk to senator johnny isaksonut all of this coming up. ♪ [ laughter ] ♪ [ female announcer ] each one of us is our own boss. ♪ and no matter where you are in life, ask your financial professional how lincoln financial can help you take charge of your future. ♪ >>> welcome back. a deal to end the government fiscal pra fiscal paralysis is on the table. the club for growth is urging all house and senate members to vote no on this plan. >> but it is a deal, albeit a temporary measure, lasting only through january. so, what's the plan for the longer term and more importantly, has the damage to our reputation in the global economy already been done? let's talk about it with president of the committee for responsible budgets, also member of the committee to fix the debt chaired by simpson and bowles and johnny isakson is a republican from georgia and member of the senate finance committee. thank you for joining us. senator, i'll start with you, if i may, sir, do you have a sense of the timing of the vote on the bill? >>

isakson: mr. president, i want to thank the senator from illinois and the distinguished majority whip for bringing up chaplain barry black's name in the article that appeared in "the new york times." i know that senator durbin and i do a lot of things together. one of them is every wednesday morning or just about every wednesday morning, we attend the senate prayer breakfast. replete through all of barry's prayers is one word, and that's humility. i think that article in "the new york times," the message and prayers in the last seven or eight days in the senate and the message to all of us right now is we need to grasp a little humility and find common ground among consternation and move this nation forward. i want to make my suggestion for what it's worth and i want to make my suggestion along with senator collins from maine who last week made her proposal. if we can't find common ground in the arguments we have today, let's try for new proposals that give us a chance to solve our problem. susan

this is why the menendez-isakson bill is so critical and why i strongly urge my colleagues on both sides of the aisle to support this commonsense legislation. now as we focus on providing communities with all of the resources they need to rebuild from sandy, the federal government is partnering with states and local governments, the private sector and academia to develop solutions that will protect us from the next disaster. we know that every dollar spent to make our homes, businesses and infrastructure more resilient, $4 in potential recovery costs down the road are saved. earlier this year senator wicker and i introduced the strong act, which stands for strengthening the resiliency of our nation on the ground. this bipartisan bill to build on the progress that's been made locally requires the federal government to develop a national resiliency strategy and really assess where the gaps are and opportunities for improvement lie. it also creates a new information portal for the public and private sectors to share information about how to strengthen our communities against future extreme

republican senator johnny isakson of georgia, he joins me now.ator. >> good morning, carol. >> so let's get right down to it and talk about the people who are most affected because of the shutdown. more than 800,000 federal workers are going to be furloughed. they're not getting paid. what do you say to them this morning? >> we need to get our job done in the house and the senate and at the white house. you got a situation right now where you have the irresistible force in the house republicans, the unmoveable object with the president with a veto pen and harry reid with the majority in the senate. something's got to give. we don't need a protracted shutdown. >> i'm sure if i'm sitting around and not collecting a paycheck and wondering when i'm going to get back to work, those words will not be of great comfort to me. >> the best i can say right now, carol, is this, historically, in this country, of all the shutdowns we have had, the shortest was one day, the longest was 21 days, this one will fall somewhere probably in between. >> so that's your

senators jeanne shaheen and johnny isakson at 7:30 eastern.back after a quick break. >>> it's been a big week for "squawk box" as we help investors rise above the debt threat. alan krueger. >> negotiations under the threat of default. >> former white house chief of staff john podesta. >> i think we need to move forward with some ability to move past that october 17th deadline. >> equity group investment chairman sam zell. >> if we do not reach consensus and bipartisan scenarios, we're going to have problems. >> energy titan boone pickens. >> this looks like it's a mess. >> we wrap up the week with one more management guru. jack welch speaks to "squawk" straight from the gut. "squawk box" where business leaders rise above the washington rhetoric. owe here at a ford dealer with a little q and a for fiona. tell me fiona, who's having a big tire event? your ford dealer. who has 11 major brands to choose from? your ford dealer. who's offering a rebate? your ford dealer. who has the low price tire guarantee, affording peace of mind to anyone who mig

isakson: mr.president? i ask to be recognized for up to eight minutes. the presiding officer: without objection. mr. isakson: mr. president, on august 6 of this year, the six federal regulators of the banking industry, reported out on their charge to promulgate a rule by dodd-frank on the q.r.m. rule, the qualified residential mortgage rule. it was something that we put into the dodd-frank regulation to provide for a parameter for those loans to be prevented from the risk preengsz if they met -- preengsz if they met a -- prevention ifs they met a certain -- preventions if they met to a certain standard. we're just now getting to the promulgation to the rule. but i'm happy to say i rise on the floor of the senate to memorialize my support for a job well done. the qualified mortgage residential rule which is being circulated now until october 28 is the right answer for the requirement of dodd-frank and for the american housing industry o. for the education of the senate and the public at large, the

senator isakson. he's gone. senator brown. >> sector, thank you for joining us. heard a lot from the debt limit deniers about october 17 is not really the day we default. we hear from the debt limit deniers that their shirt nothing will happen since we can pay china and wall street first. but the fact of the matter is on that day, october 17 as you know well the day we run out of borrowing is a thursday which happens to be the day that treasury holds its weekly auctions, rolls over debt. comment for us if you could what would happen if we brought not raise the debt limit, what could happen if our borrowing costs, with a substantially increased? what would happen if they did increase on thursday? would happen if we're unable to roll over the $100 billion in debt? >> senator, on not going to comment on what markets might do. i think the history is clear that anxiety leading up to 2011 cost of that market reaction. we've seen in the last few days and he is asserting with maturities in the period between october 17 and the period immediately after that. i can't say w

i've been to the dinner would help of senator isakson. at the white house. it was a privilege, but when we talked about how we achieved the grand bargain on tax reform, the president said he needed $800 million. that price has been raised by the distinguished majority leader to $1 trillion. i don't think you will find much support on this side of the aisle for that. then when we talked about reform he said why can't we just take, like it we take mortgage interest, charitable giving, retirement, just means tested those? and then give some specific examples. i tried to put and regulatory reform and output that in on the agenda if you would agree to it. or if the president would agree to it. we are not going to do that. we are not going to means test everything in the tax code and we are not going to raise taxes 800 billion or $1 trillion. that's a nonstarter so i hope we could do that. have you been briefed, our what is the up-to-date news that you can give us about the intent of this meeting as to the time about and what could be on the table? >> the presiden

i have been working with johnny eye sixson isakson.r from georgia and a great friend of mine and we have been working together. what we have said it should be a transition year for one year there should be no fines and let's work through the problems. they have been identified. everybody has recognized them. let's fix it fix things. >> calling for here. and that's what senator rubio. j your vision. his basically says leaving it up to to an agency to tell us whether this is working or that is working. really no certainty of time. ours has a certainty of time. january 1, 2015 no fines whatsoever. transition in. work out 00 kinks, let's fix this thing. >> i would support that. i would think senator rubio would support it. >> i believe if you sat down with senator rubio and he wants you and he told us last night he wants you to partner up with him so that it is a bipartisan bill. i think he would go for that i think the american people would go for that that's a fair thing to do. let's get it done, right? >> i agree with you. we have been

joe manchin drafted legislation with georgia johnny isakson to delay the first year of penalties forrs who don't have insurance. >> it should be a transition year for one year. there should be no fines. and let's work through the problems. january 1, 2015, no fines whatsoever. transition in. work out the kinks. let's fix this thing. >> back in july, 22 house democrats voted to delay the individual mandate. yesterday they felt liberated to renew those calls. >> i urge my colleagues and the administration to delay the individual mandate. it's not only the right thing to do, it's the only practical thing to do. >> the administration is trying to nip some of the calls for delay in the bud by ironing out what they call a glitch in the law. the law was written in a way that mentality the enrollment deadline to avoid a tax penalty was february 15th, not what they intended as march 31st as the white house originally wanted. more attention has been brought to the open enrollment process and the deadline to sign up to avoid a penalty, the white house and hhs are trying to clarify the law so th

you were on with walter isakson this morning on "morning joe" talk about how china never meddles in affairs. >> they never do. that's earth shaking they came out and basically lectured us. you may not like the chinese but they're usually very pleasant about these issues. they weren't pleasant. >> the t-bill yield is getting up to '08 levels. banks can now borrow cheaper than the government. >> certainly apple can. i'm now putting it at 20% technical default. i'm up from about 0 three weeks ago, 5% on friday, 10% on monday. after the president's speech, i think it's 20. i think a technical default could likely happen if we don't get an answer by friday. this reminds me of lehman where everybody says don't worry, it's going to be rescued. if you don't get started in the rescue process, this game of chicken, somebody's foot might get caught in the train. >> david? >> we have a number of managers of equity-based portfolios but also fixed inkcome portfolios. at this point there still seems to be a little more complacency than you might think. people pointing out last people we spent a lot of mon

and i was especially proud, and i talked about it that day, saying that senator isakson of georgia, very able member of the finance committee, he and i have new ideas on medicare that we think can protect the medicare guarantee and hold costs down. but you can't get at those kinds of issues unless you first as a -- the senator says, reopponent government with that simple -- reopen the government with that simple vote. mr. begich: i appreciate that comment. i think it is important again to point out that budget was passed back in the april, may area. we did ours. they did theirs. we tried 18 times to bring the two parties together. we tried unanimous consent, as you've noted here on the floor, 18 times. unable to do it. then we went to the continuing resolution. that negotiation started in july. the house had one number. we had one number. as time progressed, we took their number, $70 billion annualized reduction. we took their number. some would not call that a compromise. that would just take their number. but we'll call it negotiation, compromise because we wanted to get it done, we ag

johnny isakson of georgia, he's a conservative, right? >> right. >> he wants this to go forward. he thinks it was a blunder to start linking obama care to this whole government shutdown issue. >> so look, there's no question you have a number of senators who wish this had never happened, would like to get it over. you also have a number of house members who feel very strongly that cutting john boehner out of this process was a huge mistake and that it's not going to happen that way. i think they're going to stay with boehner. i think the odds are he's going to get 217 votes, and frankly, at that point, the president of the united states has a decision to make. is he really seriously going to say that he has too much pride or too much whatever his strategy is to negotiate with the speaker of the house, if the speaker can in fact pass something. >> what would happen if the speaker allows this to come up, you're a former speaker, on the house floor, no democrats for it, maybe one or two, say, and it fails. doesn't get the 217 votes. >> then i think he has to accept the senate compro

i would submit that the shaheen isakson legislation that forces us to do our regular order of business of appropriating forces us to budget and do it every year puts us back to the discipline of job responsibility we need around this place. instead of arguing about we can agree upon we have to find common ground and run our country's household like america's households run their families. if we had to do here in washington would every american family has to do year in and year out this would be a whole lot different place. it's time we found common ground did with 20 of the 50 states do and and do with the state of israel is done and 67 senators said we have to do in the budget debate in march and that is pass a budget and appropriations act and end this foolishness and gain back some of the humility. >> we need some fundamental overhaul of how this government works. we vote on tuesday because sunday is church day in monday's market day and you ride your horse and buggy into town to vote on tuesday. that's just ludicrous. we have 435 seats in the house of representatives basically beca

sponsored with john any isakson of georgia to delay the individual mandate a year. >> you look at the 11 days of the shutdown, and compare that to how many days we're going to be watching these critical obamacare rollout stories. something tells me the critical stories about obamacare rollout will last a lot longer than 17 days. >> reporter: in fact we've already been told by computer experts this thing could go on for months as they try to rejigger the actual sign-up and enrollment. sabato hurt republicans and helped democrats politically. gop needs to pick up six seats in the senate, in a second year presidency that is historically get progressively worse of party in power in the white house and obama white house is seeing a preview what will happen next year. patti ann? jenna: carl, thanks. jon: monica crowley, good to see you. it was a bludgeoning on capitol hill on the first congressional hearing for obamacare. conspicuously absent, kathleen sebelius. by the way, members of congress and congressional committees have been trying to get her to come down to the capitol building and

senator isakson. i want to thank the realtors and the bankers because they realized we have made a mistake, that the law that we passed was not a good one. sometimes that happens. and so we've got to fix it. maybe, you know -- you don't have to fix maybe the whole part of it but we're working on some pieces that must be amended so that it accomplishes the goal of having a program that the taxpayers do not have to pick up a big tab every year but that allows real estate markets to function, peep to be able to re -- people to be able to retain equity in their home and pay their fair share. also encourage smarting growth and development. part of the problem with biggert-waters, the old bill, the bill we're trying to fix didn't even recognize levees. i don't know if you have a lot of levees in virginia but we have to have them in louisiana because we are below sea level and we've been that way for 300 years. we moved there below sea level. we had to be there to create the port of new orleans. thomas jeffe

and i was grateful that senators moran and isakson and senator heinrich and kirk joined moo he in recognizing the unique and important role that tech million to lodge qual innovation has -- technological innovation has played. with that, i yield the floor and suggest the absence of a quorum. the presiding officer: the clerk will call the roll. quorum call: mr. johnson: mr. president? the presiding officer: the senator from wires which is. john join i ask unanimous consent that the quorum call be dispensed with. the presiding officer: without objection. mr. johnson: mr. president, came to the floor tatted to introduce a piece of legislation which i think is timely and i think very well needed. one of the reasons decide run for the united states senate was the passage of the health care law. the reason i thought it was pretty important is because i said at the time that the passage of the health care law represented the greatest assault on our freedoms in my lifetime. i believe that's true and i believe that's being borne out today. we are witnessing it today. the passage of the health care law

isakson: mr. president, i'd like to ask unanimous consent that immediately following my remarks that the senator from vermont, senator sanders, be recognized. the presiding officer: without objection. mr. isakson: mr. president, i rise today not to talk about obamacare, not to talk about a shutdown, not to talk about the debate we've been going through the last couple days, but rather i rise to talk about a man by the name of chris carr who is my chief of staff and has been my chief of staff since i've been in the united states senate. chris will be leaving my office on november 1 to become the commissioner of economic development in the state of georgia, a tremendous opportunity for him and for my state. while it's a loss for me personally, it is a continuation of economic development in my state where my fingerprint still lies because he will be replacing my former state commissioner, chris komin is sky, which means i'll still have that fingerprint there. chris is a very special person and deser

walter isakson. >> there's nothing more to be done. >> good to see you again. >> thank you very much. you again, reverend. >> good to see you, john. >> so talk about your growth. talk about your growth. you obviously are not the same man that you were in the 1990s, 1980s. talk about it. >> even as a child. >> i think you've got to become more deliberate. i think most people want the hold on and say i haven't changed. well, if times have changed and you haven't changed, then something's wrong with you. i think you learn how to do what you do better. i'm committed to social justice and civil rights. that's my calling in life. but do i care enough about it to do it better and be more effective and have more than one strategy and not just react, but have a strategy to act? so i still march. i mean, as you know, joe, from the trayvon martin case. but i also know how to sit at the table and deal with more than just name-calling and back and forward. i talk in the book about my experiences with the president, my experiences from michael jackson to james brown. lessons i learned along the way