CROWLEY: In middle October. So, that is where they believe that they can begin to do some of the spending cuts they want to do, that they can negotiate there. What is your position on spending ceiling, further cuts, who does that negotiating?
PELOSI: Well, first of all, it is an issue that really shouldn't be a conversation. The confidence that the world and the American economy should have and that the full faith and credit of the United States of America should be without a doubt.
CROWLEY: Well, lots of presidents have negotiated over this.
PELOSI: Well, I know, but nobody has stopped it. Nobody has stopped it.
CROWLEY: But again, I just have to point out that President Clinton, President Bush, President Reagan, and this president have all negotiated the debt ceiling and given up something for that. So, why now --
PELOSI: Because the coverage is there. There's no more cuts to make. It's really important that people understand that. We all want to reduce the deficit. Remember this, President Obama, when he became president, he said I'm going to cut the deficit in half in four years. He did it in four years and three months.
He did that. He's on a path to deficit reduction. We're all committed to that. Put everything on the table. Review it. But you cannot have any more cuts just for the sake of cuts. Right now, you're taking trophies.
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