liz claman has the second part of her exclusive interview with treasury secretary jack lew. liz? p to meet with treasury secretary lew i asked him about who he has been speaking with. it is very important to know what, where he is putting his ear to the ground specifically and, here's what he said. and i began by asking him about certain groups of people, very important to our out yens and what they are saying to him. here it is. >> i've been talking to a lot to ceos and i think they would very much like to see us get back to the business that just described. you talk to ceos, they want to talk about tax reform. they want to talk about infrastructure. they want to talk about trade policy. they don't want to talk about washington creating economic problems which is what the congressional approach is right now is doing. we need help in the government. we need to be able to pay our business and we should get back to the business of growing the economy. we need republicans to come to the table to find meaningful compromise. it can't be that the engagement is, the kind of completely un

. >> we heard jack lew warn lawmakers about what kind of dire straits the economy could be in if theebt ceiling is not raised, but we also see senate democrats push forward on their deal that would raise the debt ceiling over a more long-term basis. and that will require democrats and republicans to get on board, though, dell. >> libby thank you very much. and now we turn to mike viqueira who is at the white house. mike you heard about the details and the devil. how big is the devil and what is the white house saying about it. >> there are two ways to look at this, dell, first there is still dissension in the gop ranks. this is the first crack in the unified -- at least public posturing or position of house republicans and it could be the beginnings of a deal -- it could be the beginnings of a way out. the house republicans are due here at the white house around 4:30 this afternoon. the problem is, as far as this proposal that was put forward by house republicans today, first of all we haven't seen a lot of the details, if it is going to be a quote, unquote clean extension of the deb

jack lew knows it. they know we will not default on the debt. i think that is really the perverse reality here. to john's point, you have a bunch of politicians to scare people for political gain. people don't buy it anymore. you have sources that are debunking that and saying get over yourselves. this is about your political power. >> john, you have been on capitol hill for a long time. there is no one, no one that i'm talking to who really believes the president can raise the debt ceiling. >> there are people who say he has the constitutional authority to so do. the administration does not if we get there. i assume the government would shuffle for a couple of days if we reach that deadline. i will say that, i'll call it an encouraging sign. one sign in recent days has been speaker john boehner making clear to his rank-and-file lawmakers he is not going to be the speaker of the house for the first time when the house goes into default. i think now that the speaker may take heat for this. the speaker may be in the precarious position for this. i

jack lew spreads fear on the debt.twitter. we are going to stream live tv program. if i was just 140 characters? the congressman is here. will he go for the thor that will be the ryan plan? and a smoking gun e-mail chain. you will see it. dr. keith at will. why does obama keeps saying i did this, i did that? more couch time with the good doctor. and diamonds like you have never seen before right here. we will touch them, see them, even if we can't afford them. ♪ to the big board. yes, you're looking at a rally. investors believe we will get it that deal. g.o.p. to the white house today, paul ryan presenting a plan extending the debt limit for six weeks. charles, i think the market is looking at paul ryan and not at what jack lew, treasury secretary, said this morning. charles: hopefully not jack lew. or else we would be down. some more questions than answers. it gets old down, particularly the statement we keep raising the debt ceiling, acknowledges it is a problem. wanting a step toward ultimate compromise. a grand ba

the president and jack lew trying to spook the markets. is going to joining us for the entire 10:00 hour. she's going to have something to say about that. plus, the state of arizona wants to pay to keep the grand canyon open. they'll say hey, we'll pay for it. the government says, no way. a democrat is going to defend maximum pain coming up next. ♪ when we made our commitment to the gulf, bp had two big goals: help the gulf recover and learn from what happened so we could be a better, safer energy company. i can tell you - safety is at the heart of everything we do. we've added cutting-edge technology, like a new deepwater well cap and a state-of-the-art monitoring center, whe experts watch over all drilling activity twenty-four-seven. and we're sharing what we've learned, so we can all produce energy more safely. our commitment has never been stronger. try align. it's the number one ge recommended probiotic that helps maintain digestive balance. ♪ stay in the groove with align. you really love, what would you do?" ♪ [ woman ] i'd be a wri

jack lew's comment raised it. if the dysfunctionality that pat and jonathan, speaking of, comes to fruition with the lack of a quick vote to meet our obligations, we could have the financial markets in free fall, even before that vote comes, before. and we're just playing with fire. and, bottom line, it is not healthy. it is not safe. it is not right. and pat's right. it is all politics. >> john i talked to a wall street guy over the weekend. he said, look, if we actually default, and, you know, we lose our credit rating, even more than we already have lost it, i mean, you could see a free fall in finances in the economy and wall street that would make the great depression look terrific. that is why, see, we're talking two different things here. the government shutdown that happened this week was over the implementation of obama care. i don't hear them talking about it much. here we are five days late, i don't hear the people talking obama care. >> that's kid stuff compared to the debtceiling. >> we're moving towa

what did jack lew say about that?> jack lew made the point that this really can't happen and it would be a big problem and it's not a small issue, and he listed some of the things that would not be able to be met if the debt ceiling is not raised, and there is a bit of a washing list here. food stamps wouldn't get paid, social security wouldn't go out, military wouldn't be paid. feder federal salaries wouldn't be paid, but the worst thing is that the bondholders around the world, countries and companies who bought american debt wouldn't get their interest payments that they are expecting and relying on, and that's why it would have a knockdown effect around the world and cause a potential recession around the world. that's why they think it is so serious. and in 1979 there was an -- >> technical default. >> yes, and interest rates shot up by 60 basis points, and that was just because of a computer glitch. so economists around the world believe if this was to be done deliberately there would be serious global ramificat

>> we'll have a lot more of jack lew's testimony.eing here. that is it for us today. "squawk on the street" begins right after this very short break. >>> i'm carl quintanilla. david faber is in larue, texas this morning. whether it's yellen, whether it's the news that the president is going to meet with gop leaders, negotiators they're calling them this afternoon at 4:45, futures look pretty good here, jim. futures have had a nice couple of days, the nikkei up 2%. what do you make of what's coming later on? >> they w

jack lew weighing in. >> open the government. we're now going into the second week of the government shutdown. it's causing real damage. every day, people who thought it was okay to shut the government down, they're describing why it's a problem. congress needs to do its job. >> you say you refuse to negotiate over a debt solution. >> it's congress's job to pass a budget. they have to pass a budget. >> are you saying the president won't negotiate? >> he wants to negotiate. >> joining me now, as he does every sunday, chris wallace. that's not even all you have on the show. we'll get to that in a second. i want to ask you, how can jack lew say that it's exclusively or i think he said it's solely congress's job and at the same time, he said the president is willing to help and meet, but he hasn't? >> well, two points there, and you just got a flavor of it. it really is worth watching this interview because it's quite a contentious interview, and i think, actually, it keys in on one of the main points here, jamie, and that is for the

adam: jack lew tells lawmakers if they do not meet their responsibility, the markets and the economy could be deeply damaged. according to fortune senior editor, is kicking the can the right move? adam: the american dream burns. mike brenner will join us to talk about how the fiscal limbo is making it impossible to get his dream off the ground. lauren simonetti is on the loor of the new york stock exchange. >> this is an excellent day on wall street. the nasdaq is up a solid 2%. it is a winning day here. the level is 16.67.

plus secretary jack lew. why he says spending kooucuts a holding back the economy. now the biggest test of the president's health plan is yet to come. the biggest week in washington. were there any winners? our round table is here to break it down, andrea mitchell, david brooks, e.j.dionne and maria bartiromo. plus, the iranian nuclear threat. the republican senators are proposing even tougher sanctions to get iran to dismantle its nuclear facilities. in a sunday morning exclusive, i'll ask benjamin netanyahu about his concerns over the irani charm defender. i'm david gregory. all this ahead on "meet the press," october 20. >>> good sunday morning. what a week it was in washington. before we talk to jack lew and senator coburn, i'm here with our panel, david brooks, e.j.dionne, andrea mitchell and maria bartiromo who celebrated her 20th year in washington. congratulations. >> thank you. >> first takes from everybody. what has changed after this dramatic week? >> i think the republicans may tire of doing faceplants, so i think the modern concessions that exist may ha

. >>> plus, fox business's exclusive with treasury secretary jack lew. i says breaking through the debt ceiling will have catastrophic consequences but are his dire predictions overblown? two top experts are here with reactor shun. >>> and "who made money today?" they are gorging on it after new antiobesity pill gets a glowing review. stay tuned to find out who it is. even when they say it's not it is always about money. melissa: so first, tonight, just a few hours ago, another deadly shooting on capitol hill. a woman reportedly rammed her car into a security barricade near the white house. shots were fired. shortly after, that woman is dead. we saw the capitol hill on lockdown there for the better part of an hour as reporters tried to figure out what was going on there. you're watching video of the car chase that was taken by a tourist in the capitol area. fox news's rich edson is in washington with the latest. rich, are you with us? melissa, can you hear me? melissa: i sure can. what is the latest? >> there is still a crime scene going on half a block,

treasury secretary jack lew just started his tech timoney -- testimony.e is what he is saying. >> among the risk that we control, the biggest threat to sustained growth in our economy crisesrring manufactured in washington and self-inflicted wounds. we face a manufactured political crisis that is beginning to deliver an unnecessary blow to our economy at the time when the united states economy and american people have painstakingly fought back from the worst recession since the great depression. in addition to the economic cost of the shutdown, the uncertainty around raising the debt limit is continuing -- beginning to stretch markets. the highest level since october 2008. in measures of unexpected volatility in the stock market have risen to the highest levels in a year. he only way to avoid further damage to our economy is for congress to act. i know from my conversations with a wide range of business leaders representing industries from manufacturing to banking, this is a paramount concern for them. it is important for congress to reopen the government

first, my interview with treasury secretary jack lew. treasury secretary jack lew is here. mr. secretary, thank you so much for coming in. >> thank you. >> if i can just sort of sum up what you've been saying,en that is come october 17th, you have run out of tricks. hopefully you don't use that word. but ways you can massage the numbers so you don't go over the debt cereal ceiling that congress has set. you need a new debt ceiling by october 17th. what happens on october 18th if you don't get it? >> well, that's a very good question. and just to be clear, we crossed the debt limit in may. since may, we've been creating room to borrow using extraordinary measures. they've been used so many times. they're not as extraordinary as they used to be. tuesday i wrote to congress saying i used my last extraordinary measures. i have no more. that means on october 17th we'll run out of the ability to borrow. we'll be left with cash on hand. i told congress it will be roughly $30 billion. and $30 billion is a lot of money. but when you think about the cash flow of the government of the uni

back now to developing news, treasury secretary jack lew is identifying and once again urging congresso raise the debt ceiling. the republican senator questioned secretary lew on whether the administration's expectations are when it comes to raising the debt ceiling. >> i am asking how much do you want and how long? that's two simple questions. how much do you want us to raise and how long? >> senator, the question of how long is one i think i am answering and the longest congress is prepared for with the debt. the president tried to be clear in his statement in recent days. we tried to be clear. >> it's not clear to me. >> clearly there is the confusion from one end of pennsylvania avenue to the other. the market is actually up at this hour across the board there. 150 points for the dow jones. democratic strategist and instructor of the congressional black caucus. and former bush white house director at cnbc contributor. a lot of news. i want to start with you. we had the congressman from oklahoma and they said look, all the president has to do is agree to push back the individual man

and jack lew is saying republicans are playing with fire. and warns of the impact. saying that baltimore -- president barack obama is not backing down. >>> here in maryland, 3,000 lockheed-martin employees may be staying home today. the defense contractor will have to furlough their workers because of the government shutdown. we have live this morning. >> reporter: there are more than 500 workers in middle river that work are lockheed- martin, however, 3,000 nationwide. they work inside of a federal facility that is closed. and others like in middle river their work is tied to a government agency that is down. they are encouraging employees to use payed vacation and sick time to get their pay and benefits. the number of employees can vary from day-to-day depending on what they do. lockheed-martin is one of the biggest suppliers of military hardware in the nation. this is a few days after united technologys who make the blackhawk helicopter decided to furlough 2,000 of their employees. gep, it is not known how many of the employees in the middle river area will be af

for more on chris wallace's interview with treasury secretary jack lew tune into "fox news sunday." it airs at 2:00 p.m. and 6:00 p.m. eastern only on fox. >>> as we have been reporting, we are now in day six with no end in sight. another looming deadline is staring us right in the face. only 11 days to go before october 17th when we, of course, are being warned that our government will run out of the money and hit that dreaded debt ceiling. if we do there are warnings of economic catastrophe. as we just heard house speaker john boehner saying he will not let the u.s. government default. this as president obama continues to dig in. the white house saying it will not negotiate the debt ceiling crisis with congress. meanwhile, our debt continues to grow. man, oh man, oh, man, look at that. right up. nearly $17 trillion and growing. even during a shutdown. when will this shutdown end and how do we get our debt under control? republican congressman of indiana is a member of the budget committee and joins us now from indianapolis. congressman, welcome. thanks for joining us today. >> goo

treasury secretary jack lew is speaking about the deadline... ho he says are "playing with fire." lew asked congres to pass legislation -ehe vernment and increase the nation's debt limit. lew says president obama is looking for some middle ground, but negotiations have to take place after the shutdown ends. "t reality is there are no good choice it's we run out of borrowing choices and we run out of cash. that mes the first time since 1789 will be not paying its bills, hurting the full faith in credit because of a political decision." lew noted that raising thedebt ceiling does not allow t government to spend more... it just allows the country to pay the bills it already owes. congress has 10 da ot u-s defaults on its debt... the president says he's confident a deal will be reached... before the deadline passes. during an interview yesterday... president obama claimed there's a majority of lawmakers in the house who would vote to end the goernment shutdown and raise the natn's credit itwit i conditions on an agreement. a major recall for parents

jack lew early this morning, what was he trying to achieve?> he had about 15 minutes to make a point on behalf on the administration, and the point really was to bang heads together. quick history less son. i'm talking about raising the debt ceiling, not the government shutdown. the debt ceiling is what i'm talking about. all governments spend more than they take in. this one in particular has to borrow, and they do that by printing money and selling debt to countries around the world. now the problem is there are some politicians who say it really doesn't matter if the debt ceiling isn't raised because the government is still bringing in money anyway through our tax -- >> if they pick and choose. >> if they pick and choose, basically, then things will be fine. jack lew's job, treasury secretary is to go in and say this cannot happen. after next thursday i will have $30 billion in the bank and that's all. and that's not enough. the last 224 years no congress has ever failed to raise the debt ceiling, and then he quoted ronald reagan by saying,

understands all the warnings we've been hearing and the latest coming this morning from treasury secretary jack lewire warnings especially on the debt ceiling and rising interest rates that could result if we can't reach a solution on the debt ceiling, lew saying this morning that the stock market including investments and retirement accounts could tumble and it could become more expensive for american to buy a car, own a home, open a small business, if interest rates spike that could hike borrowing costs and cause people to spend less making the economy even weaker. carol? >> alison kosik report live from the new york stock exchange. >>> still to come in "the newsroom," a possible deal to avert a debt ceiling disaster appears to be in the works but it boo only save us from this headache until yes, thanksgiving. we'll be right back. at university of phoenix, we know you can't afford wrong turns on the road to your future. that's why we build tools like our career guidance system. it's kind of like gps, you know, for your career. it walks you through different degree possibilities and even lets you

tom, jack lew striking a cautious note. yet bullish on the economy.ink the american consumers feel what he is feeling about the strengthening economy? speak out i think bullish is a relative term. if you call 2% growth bullish, sure. i can buy into that. but we have been saying time and again, this economy is going to have a very hard time searching away from this 2% growth that we have existed in. you saw 2% growth, i can buy into that. dennis: some people are surprised the market is not down even more. >> i think what happened is we have seen this movie so many times, we know the ending. that is exactly what we have seen. kick the can, four weeks of back and forth again, somehow they will get to a resolution and nobody will like it. we have seen it before. people are tired of it and while they will do a lot of screaming, at the end they will be a reasonably happy ending. as for your prior question, i do think the average american whose net worth is mostly tied up in their homes, increaae in home prices has been real, it is sustainable and isn't maki

all he has to do is call. >> treasury secretary jack lew warns the consequences of the default couldncial crisis as bad or worse than it was in 2008. the senate is

china also understands that president obama and jack lew and the american administration are fully awaref the extreme importance of maintaining american credibility. >> reporter: over the weekend secretary of treasure jack lew went on non-state of the union to rally for a rise in the debt ceiling. >> you can't pay all the bills if congress doesn't raise the debt ceiling. these are not new. this is paying old bills. it would be like someone saying i ran up my credit card and decided not to pay it. you can't do that. the united states government is too important to the world. our currently is the world reserve currenty. >> reporter: economist predicts without a solution a default of loans could cause the dollar to plummet. hurting the economy. that could trickle down to consumer loans from credit cards to student loans and the stock markets to plunge. all of this could risk a great oh global recession. it would also be the first ever intentional default of debt in u.s. history. >> joining us in studio jill, a financial adviser with new state partners. a london based firm that advises gover

jack lew is right. there is no way they will talk about prioritizing creditors. they will not say ok, we will , but notank in beijing social security benefits in pittsburgh. >> from what i heard, they are nervous about this. >> and so they should. they do have representation year in washington and will be heard in the republican and emma craddick caucus on capital -- and democratic caucus on capitol hill. what we have seen is the republican establishment, which has sort of been hands off really point out to the leadership of this party that this costs the country. --erest rates go up and there is nothing more expensive you can think of and pointless u.s.shutting down the government. >> and jpmorgan has made some changes in terms of u.s. treasury notes. >> think of the bonds. sudden youall the have a small section of the republican caucus saying we do not think anything is going to happen mike this. -- happen like this. yoho said itn ted would be a good thing. the seriousness of the default will not be clear until it happens. but ahead of it, you look at the marke

treasury secretary jack lew lays out a plan.look what the treasury will do if republicans and democrats don't reach a deal on the debt ceiling before the october 17th deadline. ♪ my mantra? always go the extra mile. my doctor an went with axiron, to treat my lotestosterone, i did my research. the only underarm low t treatment. axiron can restore t levels to normal about 2 weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially the who are or who may become pregnant and children should avoid contacwhere axiron is applied as uneected siof puberty in children or changes in body hair or increased acne in women may occur. report the symptoms to your doctor. tell youdoctor about all or increased acne in women may occur. medical conditions and meditions. seris sideffects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet or body swling; enlarg or painful breasts; problems bathing while sleeping; and

was when jack lew says, you know, this is the deadline, this is it. i don't know, do you think washington's going to cut a deal before then? i'm not so sure, teddy. >> i think it's political theater at its best, a frankly -- and i know this is probably way out on a limb -- but i think they're just giving us an opportunity to put some short-term trades here on the long side. i think you can buy these dips because there's no way they're not going to come up with some kind of magic potion, you know, to extend the time a little bit. they're creating a lot of volatility. it's just political gobbledygook, scaring people have to death, certainly scaring investors half to death, but i think it's a buying opportunity short term. cheryl: that is the way to play it, teddy. and let's go to the cme and, daniel, same question to you as we're looking in the vixx in particular, metals showing volatility. forget oil, we can't even go there without the data from the government, daniel. what is your opinion? >> well, first off, these clowns in d.c. have found a way to m

you just mentioned jack lew.o a right there in our bureau in washington, d.c. yesterday, as chris wallace asked him about, hey, why does the president keep saying unprecedented? it's not. listen to this. >> if we were to have the unthinkable happen and have the united states default, it would cause real problems. the consequences are immediate and they're very bad. congress needs to act. >> i am telling you that i know the direction is bad. there are a range of how bad. it is not responsible. it is irresponsible and it is wreckless to take that chance, which is why congress needs to act. >> steve: i said unprecedented because in another sound bite, chris says, look, you keep saying the president says it's unprecedented that i would have to make a deal to get a debt ceiling and chris had the fact and said back in this year, this year and this year, deals were done. so it does look to some, bret, like the administration is trying to force the hands of the republicans who right now are united, trying to scare americ

. >>> treasury secretary jack lew testifies about the debt ceiling before the senate finance committee. that's at 8:00 a.m. eastern. he's expected to warn lawmakers he won't be able to guarantee payments to any group such as social security, military veterans or used bondholders if congress doesn't agree to raise the debt limit. lew plans to say he would do all he can to minimize the pace, but he would be relying on an erratic slow of incoming tax revenue and there's no certainty the u.s. could make interest payments. the fed and treasury department are reportedly preparing contingency plans in case of a possible debt default. officials are closely watching the market for banks often use bonds as collateral for short-term use of our banks. officials reportedly don't want to divulge specific details because they don't want to suggest to investors and republican lawmakers the u.s. can't muddle through a dead default. >>> meanwhile, fidelity investments, the largest u.s. mutual and money market fund company has sold all its data debt that comes due this month and in early november. that's

joining me now, the secretary of the treasury, jack lew. welcome back to "fox news sunday." >> good to be with you. >> this week both you and the president seemed to be trying to panic the markets about both raising the debt ceiling and the government shutdown, saying that they should be more concerned. here's the president. >> i think this time's different. i think they should be concerned. when you have a situation in which a faction is willing potentially to default on u.s. government obligations, then we are in trouble. >> but so far the markets are shrugging it off. the dow jones dropped just 1.2% this week. nasdaq was actually up more than 0.5%. aren't your efforts failing to try to use the markets to put pressure on republicans to cave? >> you know, chris, it's my job to try to make sure we strengthen the economy, and i spend every day trying to do that. that's why it's so important for congress to act, to open up the government to make sure we can pay our bills. there's no question that if we were to have the unthinkable happen and

take a listen to jack lew over the weekend. i would say fearmongering. and then rand paul's response. >> the consequences are immediate and they're very bad. congress needs to act. >> would it be catastrophic? >> i know the direction. i know the direction is bad. there are a range of how bad. it is not responsibility -- it is irresponsible and reckless to take that chance. i think it's irresponsible of the president and his men to talk about default. we bring in $250 billion in taxtax s every month. our interest payment is $20 billion. tell me why we would ever default. >> here are the numbers. we crunched the numbers for ten months in 2013. servicing our debt, if we didn't do that, is only $24 million. it's $200 billion more left over after that. >> as i understand it, one of the things the treasury -- what treasury does is look at the day-to-day revenue projections, not the month long. you have to ask yourself, is this any way to run a business? that i think is going to feed into this shutdown story and debt limit story. and when there is something tha

jack lew will be delivering a message this morning. he's expected to testify about the impact of what a default would mean for you and the rest of the country. this as the october 17th deadline to raise the debt ceiling looms. with anxiety about that the white house continuing to put the blame on republicans. >> i am not going to negotiate a future budget agreement that can be worked out between the white house, democrats and republicans after republicans agree to leave the matches and gasoline outside of the room and sit down and negotiate. they open the government they turn on the lights and they remove the threat of this>> we want to reopen the government and provide fairness to all americans under the presence of the healthcare law. >> the president plans to meet with republicans today. >> was it an oversight or just bad politics. the obama administration worked out a solution to allow families of fallen military members for a government shut down. when did the president find out this was a problem? elizabeth prann is live for us w

our problem with growth, in spite of what jack lew is going to tell you, is there is no confidence in the country about the future. and until you have leadership that brings our nation together rather than advantages themselves by dividing this, we're not going to solve these problems. and we have to be truthful about what the real problem is. >> let me stick to obama care. senator schumer, how disappointed are you with the rollout of obama care? robert gibbs, who is the press secretary for president obama saying people should be fired for the rollout and the problems that have gone with it. how disappointed are you, and who should be accountable for it? >> first, i think the number one point about the rollout is that there is huge interest. 19 million individual visits to the website? that's huge. 500,000 people, close to 500,000 people already filing applications, even with the computer glitches? the number one worry before we started was, are people going to be interested? will people sign up? and the answer to that is overwhelmingly yes. as more people learn about it, more people

jack lew said they must raise the debt ceiling or we could default on our debt. stay with us throughout the government shut down. we will keep you up to speed until the crisis is resolved. we are working to learn more about what led to a deadly accident that shut down the inner loop of the beltway earlier this morning. the crash happened around 3:00 between new hampshire and the exit for i-95 in college park. two cars were involved and the driver of one died. the other is expected to be okay. the inner loop was shut down for the early part of the rush hour and is back open. surveillance video may help provide answers about whether street racing injured 11 people. troopers gathered from businesses along route 301 to see how this crash happened. state troopers say a car hit a pick up head on, causing a chain reaction that involved as many as six cars. two people were flown to the hospital and at least four children were hurt. the road was shut down for more than six hours. all metro trains are running on a regular schedule after a fatal welding accident over the we

in briefly tosten what jack lew had to say. time we areame relying on investors from all over the world to continue to hold u.s. bonds. roll overk -- weekly 100 billion. if u.s. bondholders decided they want to be repaid rather than continue to roll over investments, we could dissipate the entire cash balance. let me be clear, trying to time at debt limit increase to the last minute could be very dangerous. if congress does not act in the united date cannot suddenly pay the bills, the repercussions would be dangerous. raising the debt limit is congress responsibility because congress and congress alone is empowered to set the maximum amount the government is required to meet financial obligations. that is absolutely right, we should not wait until the pay hour to make plans to our obligations. it is silly and getting goofy that the -- that the two sides cannot come together on an agreement on how to manage the debt and how to spend money in an appropriate manner. i would make is the rollover. the treasury rolls over $100 billio

. >> jack lew is warning of consequences if the u.s. runs out of money to pay their bills in less than two weeks. >> congress is playing with fire. >> john boehner once any deal link to spending cuts and changes to the health-care law. >> the votes are not in the house and the president is frisking default by not having the conversation with us. trigger. default could an economic crisis. >> this would be a major change of life for almost all americans. >> some see a deal tied into a deal to end the government shut down. the continuing resolution has become part of the discussion. >> a vote over the weekend put furloughed federal workers one step closer to get back pay once this gets resolved. the question is how will it end and when? >> if i knew i would tell you. >> e-house measure would restore paid to those government workers who have been missing days. the white house backs that move. >> way our defense department civilian workers back allowed on the job today? >> chuck hagel said the pay our military act would allow him the authori

liz claman will sit down exclusively with treasury secretary jack lew.after the treasury's warning that if the debt ceiling isn't raised the economy could plunge into a downturns worse than the great recession. you don't want to miss this because the crazy train keeps going. ashley: as greg pointed out, that message is starting to have impact on lawmakers who get it. that it is just not a good thing to be doing. much more on the market slide coming up. we're down 117 points now on the dow, with the shut down heading for day 4. could the selling on wall street carry on? one strategist still sees some upside. tracy: believe it or not, it is open enrollment season and not just for obamacare. gerri willis will break down what you should watch for when your employers roll out their private plans. this stuff gets so confusing. ashley: it does. boy, does it ever. first as we do at this time every day look how oil is trading. we got a raise in oil yesterday. down again today. down half a percent, 53 cents at 103.57 a barrel. we'll be right back. [ indistinct sho

jack lew talked about that as well. he said that's still being studied, that we don't know what all -- or we don't have a complete picture just yet of the entire impact on the economy. certainly this month-to-month crisis situation that seems to exist here in washington is something that's not helping to restore economic confidence in an environment in which the economy is still struggling to get back on its feet. alex? >> okay. kristen, thank you so much from the white house. >> thanks. >> let's speak with democratic congressman adam schiff. welcome to you. nice to see you. looks like you're in a nice place there. >> thank you. yes, very nice. >> let's get your reaction to the number for the obama care marketplace. 476,000 people have filed applications, not enrolled yet. this on the federal and state exchanges. so at this rate, do you think the projection for 7 million enrolled in six months is realistic? >> well, i think it's realistic, but certainly going to have to do a better job with the website. it's been very f

jack lew, our treasury secretary worked for citigroup. >> yes.n his job in citigroup with 2008. working for a unit of citi called alternative invests, according to "the wall street journal" they were infamous for overseeing structured investment vehicles that actually hid mortgage risks out of citi's balance sheets. >> it is totally legitimate point to be saying, well, wait a minute, is there some element of selective prosecution lurking in the rafters as well? meaning in simple english is this main culprit here and were there many, many and was this entity singled out. this is ripe top i can for discussion in this analysis. david: jack lew entered citi, in january of 2008 largely after the bad mortgages were bundled together. the fact he was working for the same unit. >> right. david: are we likely to see enough pressure for those concerned about the non-equal justice or non-equal prosecution for us to see other prosecutions not only jpmorgan and citi and other banks? >> there are so many components to that recipe and that calculus. political fa