ceiling has been the most effective lever point for real structural reforms whether it was graham rudman who did great job getting it under control or budget control act. both of those came through the debt ceiling. what the president is saying is he just wants a blank credit card to keep growing and growing the dealt. i think that's irresponsible. i think it's irresponsible our kids and grandkids to stick that debt on them. >> schieffer: let me ask you something on different subject. do you think chris christie is still a viable candidate for the republican nomination? >> you know, bob, i like chris christie, i think he is brash and outspoken i think it's terrific he's been able to get elected twice as republican in a very blue state. i think it's unfortunate he's found himself in this mess. i hope he can extricate himself. i'm rooting for him. i think he's an effective leader and i'd like to see him move on to governing new jersey and not being mired in the scandal. >> schieffer: will you run for president? >> well, look, my focus is on the challenges facing this country right now, on

am rudman came out of a debt limit discussion and so did the 1997 agreement we just talked about and george bush 41 didn't get re-elected. the budget control act led to this improvement on the discretionary side of the budget. let's not squander this opportunity and do something about the underlying problem which is the spending problem. i'm not saying add extraneous issues to it but it's like the credit card in your wallet. when you extend the credit card for you or your family or your kids max out, what do you do? you say what do we do with the underlying problem. >> we want a clean debt. >> no president in the history of the united states has taken that position. they have all negotiated on it. >> you are saying -- >> this is the underlying problem we have right now in my view. you have a president who refuses to engage with congress, even talk to congress, so he stands up there and says i'm going to go around with congress, but i won't even talk to them. i mean there is a difficulty of getting congress and the president to work together. i think there are several openings. if you