• With: Rep. Charles Rangel, D-N.Y.

    This is a rush transcript from "Your World," September 13, 2012. This copy may not be in its final form and may be updated.

    NEIL CAVUTO, HOST OF "YOUR WORLD": Well, from mounting violence over there to a growing threat over here, as House lawmakers are set to OK more spending today.

    Is my next guest worrying about all of this? Democratic Congressman from New York Charlie Rangel.

    Congressman, always good to have you.

    REP. CHARLES RANGEL, D-N.Y.: Always good to be with you, Neil.

    CAVUTO: Same here.

    Is this Libya funding, the additional funding they're requesting, part of this, do you know, Congressman?

    RANGEL: It's not included in the C.R. And whatever funds that we already have allocated for the state, I think whatever need for them, that's not going to be in jeopardy at all.

    But I'll tell you one thing. If you are talking about the C.R. -- and it's my understanding that is what you are talking about today.

    CAVUTO: Right.

    RANGEL: It is out here to avoid a train wreck for this country.

    I am amazed that there's not more outrage and concern about Americans out there. It's one thing to say that the Congress is not held in good favor. It's another thing to talk about the failure of the United States to pay its debts.

    CAVUTO: So, you think that that's what's at stake here, that Moody's and its threat to downgrade has to do with making sure you guys run these things on time and present a budget? It doesn't have anything to do with the fact that what budgets you have created -- of course there has not been one for these years now – we're deeper in the hole?

    What do you think is really causing these credit guys the angst that they're experiencing?

    RANGEL: The appearance, which in my opinion is true, that the Congress is not working with any type of unity to take care of the United States government's fiscal responsibility.

    The whole idea that we can have a $6 trillion indebtedness, and the fact that we're paying hundreds of billions in interest, and that we can't come together to deal with question of taxation and spending, and the fact that these parties are just pulled apart.

    Anyone looking at the United States of America, with all of its greatness and with all of the dependence on us for stability in the world, and see that Republicans and Democrats can't come together in order to agree on a budget? No, there's something wrong here.

    And I'm telling you that I never thought in my life that partisan politics would interfere with a president being able to get permission to raise the debt ceiling, which we never had that.

    (CROSSTALK)

    CAVUTO: No, no, Congressman, we did have that under President Bush. Both parties play this game.

    And if you're appalled at something, not getting a budget in three years might be something you'd share your concern about. I understand where you're coming from.

    (CROSSTALK)

    RANGEL: Let me make it clear that both parties, both parties do play the games.

    (CROSSTALK)

    CAVUTO: I fully agree with you. Both parties are to blame.

    (CROSSTALK)

    RANGEL: Not what happened to us -- not what happened the last time?

    CAVUTO: All right, but you're just reinventing history there.

    I just want to ask you this, sir. Do you think we will avoid a government shutdown? Is it your feeling that we will still avoid that? Or are we still looking at one?

    RANGEL: Of course we're going to avoid it. Republicans and Democrats are scared to death that they'll all be kicked out of the office.

    (LAUGHTER)

    RANGEL: They're not prepared to blame Democrats and Republicans. It will be the Congress that will be blamed.

    That is why we have the extension in order to pass it over until after the election. Come on. What do you think we're doing it for?

    CAVUTO: Oh, I just -- I thought it was to serve the people.

    But, seriously, Congressman...

    (CROSSTALK)

    (LAUGHTER)

    RANGEL: No, no, no, let me make it clear, and no Democrat or Republican is going to deny that, somehow we're brainwashed that our reelection is the only priority that we have. And, truly, that's unfortunate.