WE ARE WAITING FOR A HEADLINE TO DROP ON DONALD TRUMP.
BEFORE WE GET INTO THIS POSSIBLE INDICTMENT, THIS IS A
PRETTY AMAZING REAL-WORLD EXAMPLE OF WHAT HAPPENS WHEN
WASHINGTON CANNOT FUNCTION.
>> THAT IS ABSOLUTELY RIGHT. THE FACT IT IS HAPPENING AT THE
SAME TIME AS THE THIRD INDICTMENT OF A FORMER
PRESIDENT JUST SHOWS YOU WHAT A WEIRD, BIZARRE PLACE THE UNITED
STATES IS IN.
-- THAT THEY ARE GOING TO BE WILLING TO SHUTDOWN THE
GOVERNMENT IF THEY DON'T GET WHAT THEY WANT.
IN ADDITION, THEY ARE RENEGING -- JOE:
WE HAVE TALKED ABOUT THIS. THE RELITIGATION OF THE DEBT
CEILING DEAL. MAY HAVE CUT A DEAL WHICH FITCH
MAY NOT HAVE LIKED.
>> WE WILL SEE WHAT FITCH SAID. ON JUNE 2, THIS IS WHAT THEY
SAID. ALTHOUGH THE RESOLUTION OF THE
DEBT LIMIT IMPASSE ALLOWS THE GOVERNMENT TO MEET OBLIGATIONS,
RATINGS MAINTAINS THE RATING WATCH NEGATIVE ON THE U.S.
RATING AS WE CONSIDER THE FULL IMPLICATIONS OF THE RECENT
BRAKEMAN SHIP EPISODE AND THE OUTLOOK FOR MEDIUM-TERM.
THEY'RE BASICALLY SAYING WASHINGTON, YOU ARE STILL ON
NOTICE. BECAUSE WHILE WE HAVE VOTED THE
MASS -- AVOIDED THE MASS POTENTIAL CHAOS IN THE
FINANCIAL MARKETS IF THERE WAS AN ACTUAL HITTING OF THE DEBT
CEILING, WHAT DOES IT MEAN? YOU ARE CONSTANTLY KICKING THE
ROAD. THIS IS A HISTORIC MOMENT. WE ARE TALKING ABOUT THE FORMER
PRESIDENT AND THIS POTENTIAL HISTORIC MOMENT.
THE FITCH DOWNGRADED HIS ON HIS WATCH. IT IS ON BIDENS WATCH.
THIS IS VERY MUCH -- REPUBLICANS CAN CERTAINLY SPIN
THIS TO BE NOT ABOUT RENEGING ON THE DEBT CEILING OR THE
SHUTDOWN LOOMING. BUT ON BIDENS MANAGEMENT OF THE
ECONOMY, WHICH -- BY ALL OTHER MARKERS, WAS GOING FINE.
THERE WAS THE INFLATION, BUT INFLATION IS COMING DOWN,
PRICES MONITORING. BIDEN -- MODERATING.
WE SAW BIDEN TODAY, HE
CANNOT GET CREDIT FOR HIS STEWARDSHIP OF THE ECONOMY.
>> PRETTY AMAZING AS WE CONTINUE TO READ THE LANGUAGE
FROM CANNOT GET CREDIT FOR HIS STEWARDSHIP OF THE ECONOMY.
>> PRETTY AMAZING AS WE CONTINUE TO READ THE LANGUAGE
FROM FITCH. THE EROSION OF GOVERNANCE THEY
TALK ABOUT. RELATIVELY TO AA AND AAA RATED
PEERS OVER THE LAST TWO DECADES THAT HAS MANIFESTED IN REPEATED
DEBT LIMIT STANDOFFS IN LAST-MINUTE RESOLUTIONS.
DOES IT SOUND FAMILIAR?
>> THE WEIRDEST PART OF ALL OF THIS IS THE ENTIRE THING IS
SELF-IMPOSED. THERE IS LEGAL ARGUMENTS THE
PRESIDENT. AND EVEN HAVE TO -- THE
PRESIDENT DOESN'T EVEN HAVE TO ABIDE BY IT.
YET WE KEEP RUNNING INTO THIS SAME BRICK WALL HITTING OUR
HEAD, SITTING DOWN GOING WHAT WAS THAT AND RUNNING INTO IT
AGAIN. THAT IS THEIR POINT, THERE
DOESN'T SEEM TO BE ANY WILL TO END THIS IMPASSE.
IT JUST KEEPS HAPPENING AND EVERYONE KEEPS REENACTING
IT. THE DEFINITION OF INSANITY IS
DOING THE SAME THING AGAIN. AND INSANE COUNTRIES DON'T GET
AAA RATINGS. IT.
>> I WAS STRUCK AT A RECENT JOINT NEWS CONFERENCE WITH A
FOREMAN LEADER, I DON'T REMEMBER WHICH ONE IT WAS.
BUT ONE OF THE REPORTERS FROM THAT LEADER'S COUNTRY OPEN TO
QUESTION TO JOE BIDEN SAYING DUE TO THE POLITICAL
INSTABILITY IN YOUR COUNTRY, DO YOU THINK -- >>WHATEVER RUSSIA
WAS GOING TO ASK. AND I WAS SO SHOCKED THAT
QUESTION WAS GOING TO THE PRESIDENT OF THE UNITED STATES
DUE TO THE POLITICAL INSTABILITY.
LIKE WAIT A MINUTE, ARE YOU TALKING ABOUT OUR COUNTRY OR
THE OTHER ONE? WEIRD TIMES. ANNMARIE:
IN ONE POTENTIAL SHOW OF OPTIMISM, FITCH DOESN'T SHOW
THE U.S. HAS EXCEPTIONAL STRENGTH THAT
SUPPORTS RATINGS, A STRONGER ECONOMY, DYNAMIC BUSINESS
RATING. BUT THE HEADLINES OUT OF THIS,
REPUBLICANS WILL NOT TAKE THIS AND SAY THERE IS A DOWNGRADE ON
YOUR WATCH. THEN YOU SAID THIS CYCLE,
NOTHING WILL GET DONE. IT JUST BECOMES PURE POLITICS.
>> IT BECOMES AN ARGUMENT FOR THEM. YOU ARE HEARING A LOT OF
REPUBLICAN CANDIDATES FOR PRESIDENT TALK ABOUT INFLATION,
EVEN THOUGH IT IS KIND OF FINE RIGHT NOW.
IT HAS NOT BEEN AS BIG AS IT WAS, IT HAS GOTTEN BETTER.
THERE WAS STILL A WAY TO CRITICIZE THE PRESIDENT.
SAME WITH THE TRADE DEFICIT WITH CHINA.
I THINK IT WILL NOT HAVE A HUGE EFFECT ON VOTERS.
I THINK FOR THE AVERAGE VOTER, THIS IS AN ABSTRACTION.
IF YOU ARE IMPLYING TO NOT TRUST DEMOCRATS OR BIDEN ON THE
ECONOMY, IT IS A STRONG ARGUMENT TO STAND FIRM. JOE:
ONE THING JOE BIDEN CAN SAY IS I DROPPED MY BUDGET ON TIME,
ASK KEVIN MCCARTHY ABOUT THE EROSION OF GOVERNANCE, BUT ALSO
-- THIS IS WHY WE ARE TAKING A NEW LOOK AT THE DEBT CEILING.
WHEREVER THE COMMISSION HE'S HEARING, THERE MAY NOT BE
REPUBLICANS. BUT THE WHITE HOUSE IS
ADDRESSING THE MATTER TO SEE IF WE CAN REFORM OR ELIMINATE THE
DEBT CEILING. TIMING PRETTY GOOD ON THAT PART.
>> BUT HE CAN SAY A LOT OF THINGS.
AS WE ARE SEEING VOTERS ARE STILL NOT SURE -- NOT GOING TO
WHETHER THEY FULLY UNDERSTAND ALL OF THE DETAILS.
IT IS -- IT SHOWS THE LACK OF ENTHUSIASM FOR BIDEN AS THE
DEMOCRATIC NOMINEE BECAUSE OF ALL OF THESE.
ANNMARIE: AS WE DISSECT WHAT ELSE IS
COMING OUT FROM FITCH, THIS WILL BE ANOTHER AND ALREADY IS
A TOUGH TALKER ON THE PRESIDENT OF CAMPAIGN. THE U.S.
HAS HAD LIMITED PROGRESS TACKLING MEDIUM-TERM CHALLENGES
RELATED TO RISING SOCIAL SECURITY AND MEDICARE COSTS.
THIS IS OBVIOUSLY A HUGE POLITICAL ISSUE LEADING UP TO
20 24. DOES ANYONE HAVE A PLAN?
>> THE LEADING REPUBLICAN CANDIDATE SAID HE WILL NOT
TOUCH SOCIAL SECURITY AND MEDICARE.
LOOKING AT THE PLANS THE OTHER REPUBLICAN CONTENDERS HAVE PUT
OUT, A SURPRISING NUMBER SAID THEY WOULD SUPPORT SOME KIND OF
CHANGE TO SOCIAL SECURITY. MAINLY THINGS THAT WOULD AFFECT
YOUNGER PEOPLE WHO ARE NOT AS CLOSE TO RETIREMENT AND TRYING
TO PROTECT CURRENT BENEFITS. THE PROBLEM FOR THEM
POLITICALLY , IT DOESN'T WORK FOR AARP.
HE SAID VOTERS DON'T REALLY MAKE THAT DISTINCTION.
I'M GOING TO TOUCH FUTURE BENEFITS.
BUT THEY SEE SOCIAL SECURITY AS THEIR GRANDCHILD.
DON'T TOUCH IT, DON'T GO NEAR IT, LEAVE IT ALONE.
EVEN IF YOUR PROMISING YOU WILL ONLY AFFECT FUTURE GENERATIONS,
BACK AND HURT, SINCE TRUMP HAS GOTTA BETTER PULL AND TAKE.
CHRISCHRIS CHRISTIE, EVEN TIM SCOTT RECENTLY INDICATED THERE
MIGHT BE CHANGES IN STORE. I THINK THERE IS STILL AN
APPETITE ON THE RIGHT. JUST NOT ON THE GUY WHO IS
LEADING THE POLLS. JOE: THE HEADLINES WE ARE JUGGLING,
A DOWNGRADE, POTENTIALLY A THIRD INDICTMENT RIGHT.
AGAINST THE FORMER PRESIDENT. WHICH ONE IS MORE MEANINGFUL IN
THE LONG TERM?
>> I WOULD THINK THE INDICTMENT OF A FORMER PRESIDENT.
I THINK THE U.S. ECONOMY IS ROCKSOLID AND WILL
WITHSTAND THIS. BUT INDICTING FORMER PRESIDENTS
AND SENDING THEM TO JAIL IS NEW TERRITORY.