Chris Matthews, GOP Rep. Joe Walsh Have Blistering Exchange Over Debt Bill (VIDEO)

Chris Matthews had a blistering exchange with Republican Joe Walsh on Tuesday's "Hardball."

Walsh, an Illinois Congressman, was on to discuss the House GOP's Tea Party-backed debt plan bill, which would later pass the House on Tuesday night. The bill called for deep spending cuts, spending caps and a balanced-budget amendment to the Constitution.

Matthews, unsurprisingly, was not satisfied with the bill. "Why is the bill you're voting on today not mentioning any specific cut?" he asked Walsh.

Walsh said that there were hundreds of billions of dollars in cuts in the plan.

"There's no plan there," Matthews cut in. "it's not a plan. It's not a plan." He kept hammering on this theme until Walsh lost patience and raised the issue of President Obama.

"Hey, Chris, your president, who sends a tingle up your leg--" he began, referring to the infamous "thrill up my leg" statement Matthews made about Obama during the 2008 election.

"Okay," Matthews responded. "Here we go. This is where I thought we'd end up. I think it's 'our' president ... and first of all, tingles is your word."

"He doesn't send a thrill up my leg, Chris, all right?" Walsh fired back. "And he has not been serious about this debt crisis and why don't you jump on that?"

Matthews asked if Walsh would resign if, due to a default on the debt, there is an economic crisis in August. Walsh asked him if he would resign from "Hardball." Things stayed like that for the rest of the conversation, with Matthews accusing Walsh of playing "brinksmanship" with economy and Walsh calling Matthews a "bully" who was "out of touch."

"We're getting nowhere," Matthews finally said. "This is childish."

"This is why a lot of people won't come on your show," Walsh replied.

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