mr. cantor: mr. speaker, i'll respond to the gentleman as he knows, he and i have had plenty of discussions about this, so assume we're just on for show here that he wants me to say yes, i believe it would be a grave consequence if we did not reach the point at which we could arrive at a solution and put a bill forward that would permit an increase in the credit limit of this country with an associated cut in spending and move to get our fiscal house in order. and as the gentleman correctly pointed out, the reason why now we will not be in our districts the week of the 18th is to ensure that we do get it right and that we recognize that the markets, the investors around the world are smarter than expecting us to just go and check the box to meet the date. at the end of the day what the markets and investors and more importantly the american people are looking for is that we act responsibly, that we begin to manage down the debt and deficit . that means trillions of dollars of cuts necessary because i

mr. cantor: mr. speaker, i'll respond to the gentleman as he knows, he and i have had plenty of discussions about this, so assume we're just on for show here that he wants me to say yes, i believe it would be a grave consequence if we did not reach the point at which we could arrive at a solution and put a bill forward that would permit an increase in the credit limit of this country with an associated cut in spending and move to get our fiscal house in order. and as the gentleman correctly pointed out, the reason why now we will not be in our districts the week of the 18th is to ensure that we do get it right and that we recognize that the markets, the investors around the world are smarter than expecting us to just go and check the box to meet the date. at the end of the day what the markets and investors and more importantly the american people are looking for is that we act responsibly, that we begin to manage down the debt and deficit . that means trillions of dollars of cuts necessary because i

mr. cantor: mr. speaker, i'd say to the gentleman, as he has heard me say before in those meetings and on this floor, i don't want to pass august 2 without increasing the debt ceiling. mr. hoyer: i understand that. i thank the gentleman. mr. cantor: i understand there's a lot of uncertainty if that were to happen, a lot of risk associated with that, risks i am not willing to take. but to the gentleman's discussion that it is imperative that we do that, above all else, i'd also add to that it is imperative that we demonstrate that we can arrive at meaningful solutions to the current fiscal crisis the country is facing. that is what the cut, cap and balance act tries to achieve. it offers a way for us to cut spending in a meaningful way this year and throughout the budget window. it also suggests ways to enforce discretionary levels so that congress can actually begin to do what all of us would like to see us do which is to stop spending the money we don't have. the cut, cap and balance act also provid

mr. cantor: mr. speaker, i'd say to the gentleman, as he has heard me say before in those meetings and on this floor, i don't want to pass august 2 without increasing the debt ceiling. mr. hoyer: i understand that. i thank the gentleman. mr. cantor: i understand there's a lot of uncertainty if that were to happen, a lot of risk associated with that, risks i am not willing to take. but to the gentleman's discussion that it is imperative that we do that, above all else, i'd also add to that it is imperative that we demonstrate that we can arrive at meaningful solutions to the current fiscal crisis the country is facing. that is what the cut, cap and balance act tries to achieve. it offers a way for us to cut spending in a meaningful way this year and throughout the budget window. it also suggests ways to enforce discretionary levels so that congress can actually begin to do what all of us would like to see us do which is to stop spending the money we don't have. the cut, cap and balance act also provid

mr. cantor: does the gentleman yield? mr. hoyer: i certainly yield to my friend. mr. cantor: i thank the gentleman. mr. speaker, first of all i would say regarding the gentleman's discussion about what happened at the white house this week and my insistence that the president's at least statements in that meeting, because we don't know what the details were of his proposal and the so-called big deal, my insistence was consistent with our speaker's, that we not raise taxes. and that's why that construct doesn't work. we don't have the votes on this side of the aisle. i'm not supportive of raising taxes on people who are trying to make it right now and can't. so i would say to the gentleman when he refers to the other groups that have been out there, all of whom he say suggest that somehow we need to raise taxes, what the gentleman's talking about is how are we going to produce more revenues? we believe, mr. speaker, that you produce more revenues by having growth in our economy. we don't believe that you promote growth in the economy by cranking up the government spendi

mr. cantor: mr.peaker, i'd say to the gentleman, as he has heard me say before in those meetings and on this floor, i don't want to pass august 2 without increasing the debt ceiling. mr. hoyer: i understand that. i thank the gentleman. mr. cantor: i understand the's a lot of uncertainty if that were to happen, a lot of risk associated with that, risks i am not willing to take. but to the gentleman's discussion that it is imperative that we do that, above all else, i'd also addo thait is imperative that we demonstrate that we can arrive at meaningful solutions to the current fiscal crisis the country is facing. that is what the cut, cap and balance act tries to achieve. it offers a way for us to cut spending in a meaningful way this year and throughout the budget window. it also suggests ways to enforce discretionary levels so that congress can actually begin to do what all of us would like to see us do which is to stop spending the money we don't have. the cut, cap and balance act also provides for c

mr. cantor does. i don't remember people telling john boehner saying you were drafted to be a speaker.h it comes power and responsibility. i have no sympathy, oh, important me, i stuck my neck out. he did come up with something i agreed with. when the tea party backed away, he backed away with them. it's not enough to say this is my reasonable position. he said here is my position and he backs away. i don't think he can get a majority. he may not get a majority of the republicans. we don't need a majority. we've done this before. when george bush came to us in 2008 and said the economy is collapsing, we put something together. he's got problems with these people. he volunteered to be the speaker. he brags with sticking his neck out. every time eric cantor stamps his foot, his neck snaps back. not that you sacrificed yourself, but this has got to be done in a way to get large numbers of people on both sides. we don't need to deal with the tax issue now because, as i think my colleague garamendi was saying, the tax cuts are going to expire. i'm willing to fight another day on those. prej

mr. cantor: mr. speaker, i'll respond to the gentleman as he knows, he and i have had plenty of discussions about this, so assume we're just on for show here that he wants me to say yes, i believe it would be a grave consequence if we did not reach the point at which we could arrive at a solution and put a bill forward that would permit an increase in the credit limit of this country with an associated cut in spending and move to get our fiscal house in order. and as the gentleman correctly pointed out, the reason why now we will not be in our districts the week of the 18th is to ensure that we do get it right and that we recognize that the markets, the investors around the world are smarter than expecting us to just go and check the box to meet the date. at the end of the day what the markets and investors and more importantly the american people are looking for is thate act responsibly, that we begino manage down the debt and deficit . that means trillions of dollars of cuts necessary because i thi

mr. cantor had his eyes on the speaker's chair. >> you have heard the suggestion as well, but there is nogoing on and certainly in the last couple of days they realize they need each other a lot, and have come together to say the same thing, and the republican party does have more of a history at least in the last couple of decades of unseating speakers, but i don't think that you are seeing anything actually moving in that way right now. >> and mr. cantor brought up abrupt ending to the talks when he stormed out with president biden and is that when he merged as a key figure and player in the whole process? >> no, he has been sort of an interesting figure for the last couple of years. the stakes have not been as high, and he had been sort of a interesting story about something within the republican conference, but the stakes for the republican agreement are not as high as right now, so you are seeing him playing an unusual ro role, and now you see him sort of coming back to the fold in the last couple of days. >> there is also some suggestion that his antagonism towards any suggestion of

mr. cantor have both rejected saying that if we did just incremental, every six months or every eight monthst would keep the economy roya$ed and it wouldn't grow. they were right then, but for political reasons simply to put the president in a corner, they have said no to every deal, to every compromise, to every effort to move this forward to adopt responsible policies which will protect the credit of the united states. very unfortunate that the republicans continue to pursue this, particularly when mr. boehnor and the president have reached an agreement tentatively on two different occasions and mr. boehnor has walked away. frankly, the republicans have walked intentionally more than barry bonds, and the fact of the matter is that we need to come to an agreement, the senate, senator reid, has offered exactly what they asked for. mr. cantor just said we have no taxes in our bill, he was very pumped up about that to tell his constituents to tell that the richest people in america were not going to have to pay anything towards solving this problem, but frankly the senate is prepared to offer

mr. cantor said we have no taxes in our bill. he was very pumped up about that to tell his constituents, that the richest people in america were not going to have to pay anything towards solving this problem. but frankly, the senate is prepared to offer that, because they feel very strongly responsible step to take is to make sure that america is able to pay its bills on august 3rd. >> don't miss "last word" with lawrence o'donnell, week nights at 8:00 p.m. on msnbc, the place for politics. >>> the man suspected in friday's bombing and shooting in norway claims that two other cells of collaborators stood ready to join his murderous campaign to rid europe of muslim domination. anders behring breivik has admitted to the massacres, but entered a plea of not guilty yesterday. while police believe he acted alone, they have not ruled out he had accomplices, breivik is now in solitary confinement. he said he never expects to be released. in norway, the maximum sentence a judge can give is 21 years, although a special sentence can be han

mr. cantor and in the end make peace. this is a fascinating moment in the republican party. there is a presidential campaign going on. in congress, the first big issue, huge issue with the new republicans. when they cut the tax deal and did all the business in the lake dumb session, this is a test. it is a defining moment in that relationship cantor-boehner is part of it. >> the presidential campaign is a complicating factor. you have the presidential candidates out there. let me quote tim pawlenty who says i hope and pray and believe they should not raise the debt ceiling. so you have a top-tier presidential candidate out there in the republican party saying, no way. don't do it. you have michele bachmann talking about how they shouldn't do it. you need to attach it to a balanced budget amendment. these play into the speakers thinking and eric cantor's thinking. i guarantee you, dem gratocrats the house will not vote for this. >>> back to suzanne, the other fascinating relationship that is emerging is between the president of the united states and the former speaker of the

mr. cantor. the speaker pro tempore: the gentleman from virginia is recognized. mr. cantor: i thank the gentlelady, the chairman of the foreign affairs committee. thank you, madam speaker and i thank the leadership of the the gentleman from california as well in support of this resolution. madam speaker, we call today on hamas and the palestinian authority to renounce the path they have set in planning to announce statehood in the upcoming united nations session. by threatening to sidestep the oslo accords, they are dismantling the framework of future peace process. we have seen what they have perpetrated against israelis and the palestinian people in the gaza strip. yet hamas refuses to accept responsibility for its actions or rein terrorists called to strike at the heart of the israeli people. today, we ask and call upon the palestinian authority to return to the negotiating table and join the israelis indirect discussions to end this conflict. furthermore, we call on the leadership of the palestinian authority to renounce the violence hamas condones and teaches to

congressman cantor says mr. obama told him "erik, don't call my bluff. i'm going to the american people with this". finally cantor says the president pushed back from the table and left. now, a democratic source telling it very differently, saying the president challenged mr. cantor for what the source called "talking out of both sides of his mouth". they'll be back the at table tomorrow. the stakes could not be higher. moody's today put america's credit rating on review. . jessica yellin is at the white house tonight with what her sources are telling her. jessica, what have you heard from these differing accounts? >> reporter: anderson, democratic sources say that bottom line is that the president was schooling the crowd in the room when eric cantor changed his position. all along eric cantor as you have said, the house majority leader, had endorsed doing a deal that did reduce the deficit. and that had some of these vary krause components we talked about. but when he supported the short-term deal which as you've pointed out the president has made clear

now, this man, house majority leader eric cantor says that when he proposed a short-term deal to raise the debt creeling which is something the president opposes, mr. obama became agitated and said he had sat there long enough. now, according to cantor, he claims that the president cut him off by saying i'll see you tomorrow and then walked out. well, a democratic source tells it a little bit differently, saying that the president challenged mr. cantor for, quote, talking out of both sides of his mouth. now, this is why tensions are high. nearly $14.3 trillion of debt, that limit will be reached on august 2nd if congress refuses to raise the debt ceiling. that would have ripple effects around the world. if that doesn't happen, the u.s. will officially run out of money. cnn's jessica yellin is in washington. >> the president sort of told the entire group that this is exactly what americans think of as washington at its worst, washington catering to the base, catering to politics, putting their own political future ahead of doing important things and taking on the big issues. and that he called on the group to take on this challenge and then called

mr. cantor says it was okay, and he said it was not okay. but you are right.was ac ry money day. the headline was speaker boehner said he was walking away from the talks, but by that night he made clear he was going back to the talks on saturday, and he has been involved all weekend. it was a a day of history that now does seem to be back on track, at least they are talking to each other. >> the cut balance died because they could not get a vote in the senate. i was looking at poll numbers. 72% of americans favor the last part of cut cap and balance. yet the president dismisses the idea with the following words, "we don't need a constitutional amendment to tell us how to do our jobs." you have to chuckle at that. isn't it self-evident? it de demands an amendment. we haven't been able to do it without it. >> well, we haven't been able to do it without it since 1997 to 2001, but the congress has historically had plenty of times where they have balanced the budget. it is not as though the country's budget has never been balanced. it was in fact balanced on septem

mr. cantor and others who object to our plan, which is the only bipartisan plan that's out there. three democrats, three republicans after six months of negotiation. we met with 50 senators this morning, many of them stood up on the spot and said i will support the plan, republicans and democrats. it's been a long time since we've saw that in washington. >> harry reid raised a couple of procedural realities about the plan that can make it difficult. one is, speaking of cbo scoring, it would take a couple of weeks to score a package like this with complicated revenue pieces and social security pieces, especially the medicare/social security pieces, hard to score:then there's the constitutional fact that any bill that includes revenue, any bill that includes taxation must originate in the house of representatives. that's a constitutional requirement. there's no way around that, is there, senator? >> larry, you're smart. there's always a way around almost anything around here. as you know, if we had a house vehicle, which we happen to have right now sitting over here that began there

mr. cantor for what the source called" talk out of both sides of his mouth". they'll be back at the table tomorrow. the stakes could not be higher. moody's today put america's credit rating on review hinting at a possible downgrade. ben bernanke says defaulting on the debt would be catastrophic. the chamber of commerce also sounded the alarm. jessica yellin is at the white house with what her sources are telling her. what have you heard from these differing accounts? >> reporter: democratic sources say that bottom line is that the president was schooling the crowd in the room when eric cantor changed his position. all along eric cantor as you have said, the house majority leader, had endorsed doing a deal that did reduce the deficit and that had some of these various components we talked about. but when he supported the short-term deal which as you've pointed out the president has made clear he opposes, the president sort of told the entire group that this is exactly what americans think of as washington at its worst, washington catering to the base, catering

mr. cantor and i told the president no. wednesday they said they needed more revenue. we said no.day, we need more revenue. we said no. friday afternoon when the president called me and demanded 400 billion in more revenue, there's no way to get it out of tax reform other than raising taxes on the american people. it was time for me to step back and begin to figure out what is the path forward. it was not just the additional revenues that the president wanted. their willingness to make fundmental entitlement reform and cuts in spending they continued to resist in any turn. i finally decided it was time to say no . time to reachh out to my fellow congressional leaders and my house republican colleagues and develop a congressional plan to deal with this problem. >> chris: i want to pick up on one part of this because it is causing heart burn for frankly house republicans. what you are saying, despite yourr promise not to raise tax revenue you agreed to 800 dollars more through tax reform and lowering all of the rates and closing loop holes and ending deductions. you agreed to 800 bi

mr. cantor, the republican leader, that democrats would come up with at least 150 votes to make sure thatnd the debt limit so we cannot default and pay the bills that we have already incurred. so that i think the answer is emphatically, yes, chris, we believe this is a very serious issue and secretary figgeithner made it clear after august 2nd, there's no maneuvering room, we'll run out of ways to maneuver to pay our bills and we will be in default. that we cannot let happen. >> the president said the other day social security as well as medicare, they're all on the table. how's that selling with your caucus? >> well, i think -- i've said many times everything needs to be on the table. leader pelosi has said the same. we have also said that we must not touch the benefits social security recipients are receiving or that undermine medicare benefits. we have not said that, therefore, they ought to be off the table. i agree, though, with leader pelosi, you just used her quote. social security has not been part of the problem. as a matter of fact, social security up until this year has been, a

mr. cantor walked away and when the president was negotiating directly with mr. boehner inrevenues on the table, mr. boehner walked away. it is not a compromise or bipartisan, and the news for democrats is that it is whether you look at the plans, it is not balanced and it is not cuts or revenues. >> and this morning, the republicans said they agree with every aspect of the boehner bill save the fact that it forces another round in the midst of the re-election campaign. and do you agree with the bill other than the fact that you have to come back in six months? >> well, with we are in the land of make believe, because mr. mcconnell knows that this does not include every member. the gang of six which had liberal democrats an conservative republicans said we have to put everything on the table including revenues and mr. mcconnell has walked away from that. so that the balance here that we do need by the way is to look at this as an issue of revenues as well as of cuts. if we put everything on the table, we could actually resolve it, and instead, we are at a continu

mr. cantor and i told the ayesident no.wesd wedn tesday they said theymo needed more revenue. s we said no.or thursday, need more revenue, we said no.rida friday afternoon when the president called me and demanded $400 billion in more rn revenue, there is no way youay u can get that out of tax reformer other than raising taxes on the american people.ime for me it was time for me t to step bac back and to begin to figuree out out what is the path forward. it wasn't just the additional revenues the president wanted. o their willingness to makent fundamental retirement reform,y real cuts in spending. rt they continue to resist at every turn.athen and that's when i finally decided it was time to say no.ae it was time to reach out to my fellow congressional leaders and my house republican colleagues and to develop a congressional plan to dealiona with this problem.ls >> i want to pick up on one: wan part of this because it isonar causing heartburn for frankly house republicans. y what you are just saying is prot despite your promise not toou raise tax revenue is you agree to $800 b

mr. cantor: i will not yield. to throw the shiny ball out there that somehow the republicans will sustain these preferences when all along in our budget and in our plan we have said we're for tax reform. we have said we're for bringing down rates on everybody. and that's it, madam speaker. let's get serious and stop playing politics. it's not about that. there is no disagreement that any of us want to support those loopholes, but what's really going on, madam speaker, in all of the debt discussion, in all of the negotiation is the fact that the minority and its party and the president continue to insist that we raise taxes on the sml business people that we need so desperately to begin creating jobs and hiring people again. and with that, madam speaker, i yield back. the mr. hoyer: i thank my frien the ranking member of the budget committee, mr. van hollen, for yielding. the american public are rightfully very distressed with the congress of the united states. they're distressed that a time of great challenge and

mr. cantor from virginia. the speaker pro tempore: the gentleman from virginia is recognized for one minute. mr. canton: thank you, madam speaker. i thank the gentleman from utah. madam speaker, it is time -- mr. cantor: thank you, madam speaker. i thank the gentleman from utah. madam speaker, it's time that we be clear with the american team -- american people. it's no choice but to cut spending and living within our means. contrary to what the gentleman on the other side continues to say, no one, no one wants to bring default onto our country. and with millions of americans out of work, we've got to focus on getting the economy growing again. we, as republicans, as the new majority in this house, as the gentleman from maryland knows, have put a plan on the table that ensures washington does not continue to spend money it doesn't have. house republicans have a plan to cut, cap and balance our way to prosperity. this commonsense legislation provides a straightforward plan to curb our massive debt and help our s

mr. cantor's hometown is the richmond area. it's front-page coverage there, the "richmond times dispatch," cantor receives boehner's support. let's take a look at that event yesterday. we'll have it in just a second. the next telephone call, while we're waiting, is from big sandy, texas. scott is a republican. good morning. caller: yes, susan, if i were a republican and in the negotiations, i would continue to bring up the immorality that the democrats are willing to -- and the fact that they're willing to steal the liberty of future generations with this humongous debt. they need to hold their feet to the fire, and in the end, obama and the democrats will have to come around. there's no doubt about it. we've got the upper hand. even though you've got the press on the president's side, and i want all these democrats that have called in here supporting obama this morning, just ask yourself, are you honestly better off? has his policies actually helped this country? or is it sending this country to oblivion? none of his policies,

mr. cantor and mr. obama. >> i'm sure they've got some flies in there that we could -- you could probably put one of those little microscopes on there for you. >> we'll see what we can do. >>> now watch this -- >> i saw the man's eyes as he was going over the waterfall, and that was devastating. >> a desperate search under way right now at yosemite national park after these three hikers get swept over this raging waterfall. several people, they were there, they saw it happen. but no one knows who the victims are. >>> plus, a human catastrophe. it is unfolding right now. 11 million people in somalia are starving to death. many of them, little ones, children. but there is a hitch to getting them food. we're going to go in-depth here. we're going to take you live to africa on this developing story, coming up. >> announcer: this past year alone there's been a 67% spike in companies embracing the cloud-- big clouds, small ones, public, private, even hybrid. your data and apps must move easily and securely to

mr. cantor: i will not yield. to throw the shiny ball out there that somehow the republicans will sustain these preferences when all along in our budget and in our plan we have said we're for tax reform. we have said we're for bringing down rates on everybody. and that's it, madam speaker. let's get serious and stop playing politics. it's not about that. there is no disagreement that any of us want to support those loopholes, but what's really going on, madam speaker, in all of the debt discussion, in all of the negotiation is the fact that the minority and its party and the president continue to insist that we raise taxes on the small business people that we need so desperately to begin creating jobs and hiring people again. and with that, madam speaker, i yield back. the iend, the ranking member of the budget committee, mr. van hollen, for yielding. the american public are rightfully very distressed with the congress of the united states. they're distressed that a time of great challenge and great risk thank, th

mr. cantor suggested these series of short-term deals, this would be the reversal of position he held forveral months and the president has been opposed to these short-term deals. he made that clear. also said he would veto it. a frustration inside that room and the president saying that, you know, what's happening inside in a room sort confirms the worst that americans feel about washington. >> are they getting anywhere? according to cantor -- well, look, by all accounts no significant progress here. both sides pointing the finger at each other saying that, you know, republicans, democrats, unwilling to compromise. sticking point continues to be how do you get to the revenue side of this, you know. democrats saying you have to be able to raise the taxes on wealthy americans in order to get the revenue. republicans saying no, the way to get revenue is to make the economy better and through job creation. there is some optimism that when -- at least among democrats when they return to the table today, that the tone will be much different than it was yesterday. the hope is they can make prog

mr. cantor, mr. cantor -- >> mr. speaker, mr. speaker, you said this is a time that americans can least afford an increase in taxes. isn't it also a time they can least afford cuts in spending on social services? >> if we don't fix the entitlement programs, they will not exist. the trustees have made clear there are serious deficiencies there. we've got to make some big decisions to make sure these programs that are important to tens of millions of americans, are there for the long term. >> mr. cantor, is, president obama put raising the age to qualify for medicare on the table. essentially we heard reports assigning you a homework assignment what sacred cows would republicans touch. what sacred cows would republicans be willing to touch within the debt negotiations? >> i want to say again, we all agree that we've got to do something about the long-term trajectory of the entitlement programs and we've got to fix them for the health of this country. and it is unfathomable to me why our president thinks that he has got to condition

mr. boehner and cantor voted for numerous times before, their condition was that pass both the house andhe senate. now they've substituted this balance and cut amendment and cap amendment -- or legislation which calls for a balanced budget amendment. i don't know why they substitute a balanced budget amendment, which they say they want for a bill which simply calls for what they had already scheduled. it seems like a bait and switch. >> they want to get on the record that they support this balanced budget amendment. they want democrats to vote against it, they want to vote in favor of it because politically they think that's a winner. >> well, wolf, they could have done that either way. they could have voted for that amendment that they had scheduled. i've got a feeling that there are a lot of republicans who looked at that and said this doesn't make sense. this will create further deadlock, further gridlock in the congress, and further fiscal risk to the american people and to our country, and it really is not justified. and i think frankly that may be one of the reasons they pulled it.

mr. cantor, walked out because revenues were on the table. july 3, mr. -- president obama and speaker boehner meet to work out a grand bargain. it was very promising. $4 trillion in deficit reduction by combining revenues as well as cuts. president obama incidentally putting on the table things that were giving enormous heartburn to many democrats but he said, we have to compromise for the greater good. the speaker indicates on july 9 that the grand bargain is unlikely due to differences on revenues. so he leaves. july 22, mr. boehner walks away from the debt talks saying that we can't have revenue. so now we have the bill. the bill is defective in this fundamental respect -- it is going to damage the economy. $1 trillion in cuts. increasing on a short-term basis the debt ceiling followed by $1.8 trillion that will hurt medicare, social security. this is going to be very harmful for the economy. i yield back. the speaker pro tempore: the gentleman yields back the balance of his time. the gentlewoman from new york. ms. slaughter: mr. speaker, i

mr. cantor asked the president yesterday for his plan. he says who am i negotiating with, you or boehner. boehner's office says we have no plan from the president. i don't believe the president is serious, has been serious, and he better get serious because if i increased everybody's taxes across the board, even fees to get into national parks by 50% weed he'd still have a $600 billion deficit and you can't raise taxes that much without driving the economy into the ground. he has to cut spending, and he is not wired that way. alisyn: you know, as we just reported s&p said they were considering a downgrade of the u.s.'s rating. moody's also said something interesting, they were considering a downgrade if the debt debate didn't go forward if the debt ceiling weren't raised. now they are saying something different which is they may downgrade the rating any way if they've lost confidence that the u.s. can actually tackle its budget problems. what does this mean if we're downgraded from a aaa rate stph-g. >> it means we'll pay higher interest

mr. cantor. >> if there's no deal, david, who gets the blame? >> everybody is going to get the blame. if with ego into default. there's going to be huge anger at the incumbents in both parties. the republicans will pay a heavy price because the president has, you know, in effect staked out a high ground in terms of the argument. but at the end of the day, it's the president who usually suffers and suffers the worst if the economy suffers. >> the president doesn't want to continue talking about the debt ceiling. he has other messages he needs to talk about. he needs to talk about jobs. there was a couple of polls today where 67% of the americans say they want a deal to raise the debt kreelinceiling. that includes taxes on the wealthy as well as spending cuts. so it seems politically at least, the white house argument may be taking hold right now. >> let's wait and see here. the president still bears the ultimate burden if things break down. pi do think it's time for a truce. there are the element os of a deal here, partly drawn on mcconnell's plans, partly drawn on what boehner has don

mr. cantor, quote, eric, don't call my bluff. i'm going to the american people with this. your opinion, can that work? is that a part of the problem, that the american people need to be convinced that the president and the democrats are right? haven't the american people been educated to a good point about what's happening up there, but do you think that works for the president if he just forgets the negotiation and says i'm going to the american people, get them on my side and you'll have to come to my side? >> he didn't say forget about negotiations. they are going back, as you said, in less than an hour, but what happens is instead of buckling down and talking about alternatives, savings, yes, and the republicans willing to talk about some revenues, closing loopholes, taking on, for example, revision for oil and gas that never should have been there in the first place and also taking on tax revisions that help some people pay instead of regular taxes like everybody else does, capital begins taxes when it's their services being provided. the president isn't saying let's

mr. cantor is actively trying to take over the position of mr. boehner.n, that is the level of impact that they've had within the party. so what's been fascinating to watch is not so much the debate between republicans and democrats, but republicans, tea partiers, and nontea partiers within the republican party. martha: isn't that healthy? we live in a american democracy, right? what you're seeing, forever all we've heard is people get elected, you send them to washington and the things that they promise on the campaign trail go right out the window. now you've got a situation where people got elected, and we've interviewed so many of them here over the course of the last several months and we say, well are you going to negotiate? what are you going to do now? and they say i'm not going to vote to do anything that raises taxes, it's against my principles and against what all the people back home, what i promised them i was going to do. i'm not sure why it's being seen as this sort of politically extreme faction that may over influence, you know, sort of t

mr. cantor. he is the only one who still says my way or the highway. every other leader has said they are willing to make certain concessions even though they don't like them to avoid default. the nation and of course this congress is waiting for leader cantor to step up to the plate in a similar way so that maybe we can come to a compromise that actually avoids default and at the same time gets a handle on the debt and deficit problems and reduces both of those. i yield the floor. the presiding officer: the clerk will call the roll. quorum call: a senator: madam president. the presiding officer: the senator from florida. mr. nelson: i ask consent the quorum call be lifted. the presiding officer: without objection. mr. nelson: madam president, i know we have a vote that's coming up momentarily. i just wanted to say that i wish that those folks that are huddling up down at the white house every day now don't miss this opportunity for a grand bargain to do something serious about deficit reduction. that's why i'm concerned about senator mcconnell's propo

mr. cantor: i thank the gentleman from maryland and if i could, to the gentleman, update him as well as all of our colleagues on the house's schedule for this weekend and the upcoming week. and i thank him. to say to the gentleman, the house will now meet in pro forma session only tomorrow. therefore no votes are expected in the house on sunday. but given the critical fiscal and economic situation, however, members should be prepared to return to washington quickly if needed. we may only be able to assure a few hours' notice at most. lastly i'd say to the gentleman, the house will be in legislative session on monday and first votes are expected as early as noon. and i thank the gentleman and yield back. mr. hoyer: i thank the gentleman for his information. i yield back the balance of my time. the speaker pro tempore: the gentleman yields back. the unfinished business is the request for a recorded vote on -- the unfinished business is the question on suspending the rules and passing h.r. 2062 which the clerk will report by title. the clerk: h.r. 2062, a bill to designate the facility of the

mr. cantor needs to go home and get his diaper changed. he's so shallow and super official, i don't know how president obama works with these people. they are all frying to be great stars. they don't care anything at all about the people. i don't hear any good ideas coming out of the republican party. they tried to pass the bill to cut down on the money, taxpayers sending jobs overseas. all the republicans voted against it. then they come out and say they want jobs. turned them all down and it brought some of the bills back again. >> as a democrat, could you see any budget cuts. caller: i see all kind of places to cut the budget. we have that 25 hedge fund people that pay only 15% taxes on billions of dollars. the 25 of them make what 189 americans make. they don't pay the 30% we pay. we should cut all the corporate welfare. we should give exxon mobil $6 million a year. we give it to them. it's not about taxes. host: dennis from maryland. caller: good morning. please don't cut me off. when george bush came into power, we had a surplus. it

cantor says mr. obama stormed out of the meeting which democratic sources deny. >> there's really only one person who has not made any concessions and that is majority leader cantor. >> reporter: today, cantor stood his ground. >> we're not going to raise the debt ceiling if we don't have cuts in excess of that amount that we don't want to raise taxes. >> reporter: republicans seeming to close ranks today amidst reports that cantor has undercut speaker john boehner. >> let me just say we have been in this fight together. and any suggestion that the role that eric has played in this meeting has been anything less than helpful is just wrong. >> reporter: the urgency to get a deal done heightened by two major credit agencies, warning they would downgrade the nation's top notch credit rating if a deal isn't reached soon. senate majority leader harry reid says it's a wakeup call. >> we have just a few hours, maybe just a few days to work this out. >> reporter: there has been some chatter about moving the t

mr. cantor walked out when there were revenues on the table. the speaker walked out with the president when revenues were still on the table. and now this bill is attempting to impose a constitutional amendment and has no chance of passing and it in fact is a white flag of surrender to a small group in the republican caucus who won't pass the bill that was brought to us before. we've got to work together. that means we've got to put everything on the table. we've got to maintain our credit rating by paying our bills and we have to have a balanced approach to long-term fiscal stability that requires revenues as well as -- the speaker pro tempore: the gentleman's time has expired. mr. welch: i thank the speaker and i yield back. the speaker pro tempore: the gentleman from texas. mr. sessions: thank you, madam speaker. madam speaker, at this time i'd like to yield to another one of our 87 new freshmen, a young man who was the mayor of rogers, arkansas, one of the most beautiful cities in america, and i'd like to yield two minutes to the gentleman,

mr. cantor, his number two, has said there's something they wanted the president has agreed to that, thenk away from the table. we want significant cuts in spending. great. the president says i'm there. i'm for over 4 at the number. we want the president at the table. great. the president comes to the table. that's not enough. they get up and walk away. it continues and continues and continues. here's why. because ultimately, the far right extremists are controlling that caucus and these guys in the republican caucus right now are all about their own political survival and that's why they won't agree to put everything on the table including those revenue increases. >> margaret, there is definitely something to be said for keke's point that there are hardline conservatives who come in here taking a line that says we're not compromising. there will be no tax increases or revenue increases or cutting of tax loopholes or credits. that's not part of the deal. >> there are those people in the house republic in caucus, not the people at the leadership table and i think those people are people th

mr. cantor's advice. we should adopt a long-term plan and put america back to work, get back to the negotiating table today. i yield back the balance of my time. the speaker pro tempore: the gentleman from california. mr. dreier: mr. speaker, i at this time am happy to yield two minutes to our thoughtful and hardworking colleague, mr. dent. the speaker pro tempore: the gentleman is recognized for two minutes. mr. dent: thank you. i rise in support of the budget control act. you know, first and foremost, we, the united states house of representatives, have an obligation to govern. we have tremendous responsibility to the american people to consider this plan that ensures our nation does not default on our nation's commitments. at the same time it places this country on a sustainle fiscal path. ad let me be clear, defaulting on america's obligations to our creditors, to our seniors, disabled veterans, active military personnel, college students and many others is not an option. this bill prevents a default

mr. cantor's advice. we should adopt a long-term plan and put america back to work, get back to the negotiating table today. i yield back the balance of my time. the speaker pro tempore: the gentleman from california. mr. dreier: mr. speaker, i at this time am happy to yield two minutes to our thoughtful and hardworking colleague, mr. dent. the speaker pro tempore: the gentleman is recognized for two minutes. mr. dent: thank you. i rise in support of the budget control act. you know, first and foremost, we, the united states house of representatives, have an obligation to govern. we have a tremendous responsibility to the american people to consider this plan that ensures our nation does not default on our nation's commitments. at the same time it places this country on a sustainable fiscal path. and let me be clear, defaulting on america's obligations to our creditors, to our seniors, disabled veterans, active military personnel, college students and many others is not an option. this bill prevents a def