Myrow: We need a hard deadline to force action on the debt ceiling

So we have a hopeful president by and we're also getting what I think is kind of a rarer consensus down in Washington DC. The consensus now after you know some back and force that the so-called ex-state it won't come before June 1st and probably weeks later. Does that change the temperature of these talks tomorrow at all. Frank they need a deadline to force action. That's always the case in Washington. So as we get closer to the deadline we think that will narrow the two sides. However our current base cases there probably isn't enough time to get a full deal done right now.

So it's likely we could see a short term punt until later this year. All right. Talk to me about the potential areas where we could see agreement. There's a representative that House Speaker McCarthy has kind of had capped in the ship if you will. The areas are spending caps permitting reform rescinding unspent COVID-19 aid and work requirements. So give us a sense. Is there one of these that's more contentious than the other.

Is there one that a deal could likely be reached on maybe even tomorrow. So I don't think anything's done until everything's done. That's a usual phrase in Washington. But when the work requirements is probably the most contentious of those the unspent COVID money is the easy lay up on spending caps and permitting reform. I think in theory there's room for agreement. The problem is always the devil's in the details on spending caps in particular right now. We're hearing that the Biden administration would be willing to consider some form of two year deal.

But the Republicans are looking for some much longer term like a ten year deal. So it's going to take them narrow it down. All right. Let's go to one more D.C. phrase. Politics makes strange bedfellows.

Is there a deal that's a win win for Biden and McCarthy and they could just kind of sew all this up where everybody can move ahead in a positive way. That's exactly it Frank. Right. You know I always say that process Trump's substance in Washington. So the question is it's not just what the deal is but the way they go about getting it because it's it doesn't matter what the deal is both Biden and McCarthy want to keep their jobs. And the question is how do they sell a win to the respective bases. And particularly on the Karthi side since Biden has to wait until the ballot box in 24 to find out whether or not he keeps his job.

But McCarthy's always now at the whim of of his conference that could do what's known as a motion to vacate to get rid of them. The question is he was never going to get the freedom caucus the far right of this conference to back whatever compromise deal he reaches. The question is can you keep that opposition to just grumbling or do they actually try to take him down.

Worldwide Exchange, CNBC, business news, finance stock, stock market, news channel, news station, breaking news, us news, world news, cable, cable news, finance news, money, money tips, financial news, stock market news, stocks