Government Shutdown War of Words

President Obama, Speaker John Boehner clash in news conferences with no progress on the shutdown.
1:25 | 10/09/13

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Transcript for Government Shutdown War of Words
We saw that in jim avila's piece. More dangerous harm could come from a possible default. And that deadline's coming fast. Still, we saw yesterday, no breakthrough at all. Reporter: No breakthrough. In fact, george, it may be getting worse. I mean, you saw a situation where the president came out, spoke for more than an hour. Made it very clear that he's not going to give in to what he calls ransom demands by republicans. And an angry speaker of the house said that the president simply has to negotiate on this. Saying that, the president -- telling the president this is not the way our government works. It almost seems, george, like the two sides are positioning to place blame after the catastrophe strikes in terms of the debt ceiling. The speaker batting back. And the president has called for maybe a short-term resolution. The president moving forward today on the nomination of janet yellen to lead the fed. This is going to be history. Reporter: It sure is. This is the first woman to hold what is arguably the most important economic job in the world. It's something that the white house hopes will reassure the markets amidst all of the turmoil. This is continuity. Standing next to her will be ben bernanke, the current fed chairman. She's the vice chairman. She's been confirmed for that job easily in the united states senate. And the white house hopes this will be an easy confirmation. It probably will, right? Reporter: I think so. Nothing is that easy anymore in congress. But I think she'll be easily confirmed ultimately. Jon karl, thanks very much.

This transcript has been automatically generated and may not be 100% accurate.

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