"The bill then says if the Senate does not act, then H.R. 1 (the House-passed bill that cuts $61 billion) will be the law of the land. In addition to that, it says that if all else fails, and the Senate brings about a shutdown, then members should not get their pay."

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The most disappointing thing this week is that Mitt Romney picked Paul Ryan, because he was the intellectual leader of the Republican Party. Because Paul Ryan decided to join Mitt Romney's ticket, he is completely reversed himself on some of the issues he has been very strong on, like the $716 billion in savings that are in two of his budgets.

— Stephanie Cutter