What can the president do to show to your satisfaction ... that he is leading on this issue [regarding the debt ceiling negotiations]?
Well, the first thing he would do if the president were a true leader is he would take default off the table. It shouldn't even be considered. It's really an obligation, a constitutional obligation, to pay for your debts, to pay the interest on your debt.
How does he take that off [the table] if we don't have any more money to borrow to pay our bills?
Well, it's interesting that we actually do. We bring in about $200 Billion a month in tax revenue, our interest payment is about $20 Billion. We have more than enough money that comes in every month in tax revenue to pay the interest on our debt. We can't pay for everything, [but] we can pay for Social Security also; [the president] should quit scaring the senior citizens. And we can also pay for our soldiers' salaries. And we can pay for another $70 or $80 Billion dollars worth of government; we just couldn't pay for all of government.
But [the president] could take default off the table and then this wouldn't be such a crisis situation. He's manufactured a crisis, and if we don't have an arrangement by August 2nd, and there is a dip in the stock market, the blame lies squarely on his shoulders for allowing this crisis to happen and actually encouraging this crisis.