'This Week' Roundtable: Debt Ceiling Fight

Columnists Paul Krugman and Peggy Noonan on the battle over the debt ceiling.
2:18 | 01/13/13

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Transcript for 'This Week' Roundtable: Debt Ceiling Fight
Democrats and senate want to present to examine all kinds of ways around face this question head on but it appears that the president -- ruled all or most of them out. Yeah nobody actually knows what's going to happen this is about the third. This is the second debt ceiling crisis we've had in the past few years we just got through the fiscal cliff thing. It is very strange to live in -- great sophisticated. Wealthy modern democracy. And have this herky jerky crisis cliff hanger. Thing that is going on the -- has been enough for awhile look at I am always hopeful for something like a grand bargain but I think that won't happen now. I think we have more loggerheads more brinksmanship. To -- Did the White House position which is right is that there should be no bargaining office if this if if the Republican majority in the house wants to cut spending let them. Propose legislation to cut spending and pass -- not hold America hostage. I want this I got colts you know saying we doesn't this project in the -- White House yet was a sign of strength not weakness that we are not bargaining we're not gonna give in. We just want to make sure that the onus for this -- it rests firmly on the Republicans and they think they mean it whether they actually mean it we'll find out. I think it should be noted that we have unprecedented. I think it should be noted that he should be sitting down and talking with those. Who would move to attend a little that. -- -- on spending I don't consider it unusual. That this president can never make a deal what those who. -- can negotiate over you cannot negotiate with hostage takers that's the White House position they're right about that. He just don't negotiate on this he can negotiate on this question can negotiate on taxes but not on someone who was threatening to blow up the world economy if he doesn't get his way. My goodness that appeared to be the White House attitude on the fiscal cliff just -- -- -- -- go for it why can nothing NS yeah work that we do have a president we do have legislative leaders. We do it should be noted had a spending. Crisis in America it is not. At an eccentric. Thing to worry about the amount of spending that America does think -- -- the outcome in the long to get away from a. So this is this is this is really this is a doomsday this is really say I will blow up the world unless -- -- -- -- White House negotiate on the.

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

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