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Jake Tapper On Debt Chaos: White House Source Says It’s ‘Mad Hatter Time’ On Capitol Hill

On Good Morning America Friday, ABC’s Jake Tapper described the reaction from the White House to last night’s failure by Speaker John Boehner to get his plan to a vote. Tapper said the situation now is “all about power plays…all the House Republicans have done is waste time.” As the clock ticks toward an August 2nd deadline, Tapper’s White House sources expressed frustration, with one describing it as “Mad Hatter time” on Capitol Hill.

Tapper says the White House fears the time that’s been wasted may have a serious effect on the nation:

President Obama is likely to speak today to try to reassure any panicking Americans and to urge Congress to compromise.

White House officials had expected that Speaker John Boehner, R-Ohio, would be able to pass his bill Thursday night and watched in disbelief as he pulled the bill because it didn’t have enough votes to pass.

While the president believes the debacle on the Hill underlines his belief that passing a small bill is no easier than passing a big one, he also believes the time for a big deal has passed, officials said.

Watch it here, from ABC News:

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