sponsor of that toomey bill to avoid a default, california republican and budget committee member tom mcclintock. tom, good to see you. if your bill had passed, then by law obama wouldn't be pointing fingers about defaults and so forth. now why is it democrats don't like your bill, and two years ago didn't like pat toomey's bill? what's up with that? >> because they want to use a credit default as a threat. and it's an irresponsible threat for all the reasons you've been discussing. but it's interesting. the law that establishes the department of the treasury that goes back to 1789 already gives the treasury secretary the responsibility and the authority to manage the public revenues and to protect the public credit. in the mean 80s, the government accountability group says that the treasury department has the authority to manage payments to assure that debt is always paid first. >> in other words, they already have the authority. so that undercuts obama's position even more. i mean, for him to point the finger of a default, he may as wellpoint the finger at his own treasury, because they have t