[laughter] so hopefully our president, barack obama, can in one swift rooseveltian "we have nothing to fear but fear itself" moment ease the american psychoi can. >> can you tell the folks at home that no matter what happens the social security checks will go out on august 3rd. >> i cannot guarantee that those checks go out on august 3rd if we haven't resolved this issue because there may simply not be the money in the coffers to do it. >> jon: [bleeped]. [laughter] we need our check! you know what, no, no, it's fine. it's just ole people. you know how they are. they're probably going to just blow that money on medicine and hips. of course, our political leaders smart, dedicated professionals. they've been in non-stop meetings trying to prevent this from happening. how are those meetings going. >> the debt talks blow up. >> an angry president obama walked out. >> temperatures began rising after house majority leader eric cantor suggested the sides were too far apart to get to a deal. that's when the president got very agitated. he said, "don't call my bluff, eric." >> the president con

s new deal the last of the rooseveltian inspired programs social security medicare and medicaid and you say it's up to obama to kill those so talk about this i mean are we in the midst of a crisis that as everyone says we are. well we're in a credit created crisis but it's a political crisis not an economic crisis. we're sorry and government does not raise the solvency constraint if it does do it will be a political decision that's not going to be something that is forced by markets so you think that this is perhaps just an excuse by you know the forces out there to try to get rid of some of these new deal social security medicare medicare. yeah unfortunately i think the democrats helped to create this crisis and as i say only a democratic president really can kill you and your programs president clinton was the one who destroyed the regulation of financial sector that was put in place in the aftermath. thirty's great depression that it rejected the economy and prevented another financial crash on the scale of the one nine hundred twenty nine crash up until the current crisis we had der