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saying hell fight for tax increases as the deficit spending debate enters its next chapter. a powerful new special congressional committee charged with finding an additional $1.5 trillion in savings over the next decade. the low-key signing ceremony at the white house came two hours after a 74-26 senate vote that sent the compromise plan from capitol hill to 1600 pennsylvania back after weeks of partisan sniping and jockeying in washington that we know leftmost of you disgusted. a new ...

can pass it in the next day or two and avert the first default on our national debt in history. >> i am worried about the size of defense cuts that may be contemplated, but that doesnt mean im therefore rejecting the agreement. im just worried. >> this is a head scratcher. stocks take a tumble after the debt relief rally that happened earlier this morning. the dow surged more than 120 points, but a weak manufacturing report, just sanction the market. stocks posting the worst weekly per...

ceiling averting a potential default on the united states financial obligations. >> its just been amazing to watch and see the president come out on a sunday night like this, wolf. well have complete coverage on every single angle of this story, whats in the deal, lou it finally came about and how all the various players in this debate are reacting tonight. several asian markets already opened, others will be opening soon. well take you there live to see how the traders are reacting ...

says a tentative agreement is in place to raise the nations debt ceiling averting a potential default on the united states financial obligations. >> its just been amazing to watch and see the president come out on a sunday night like this, wolf. well have complete coverage on every single angle of this story, whats in the deal, lou it finally came about and how all the various players in this debate are reacting tonight. several asian markets already opened, others will be opening so...

trillion in cuts over ten years, raises the debt ceiling about about the same amount, sets up a bipartisan committee to find other ways to trim another trillion and change from the deficit. think of it as a deficit posse. it calls for both chamber of commerce eventually to pass a balanced budget amendment to the constitution. they dont actually have to pass it, they just have to vote on it. and the president and house speaker admit that the plan is not perfect, but hey, theres a deadli...

>> what is in the deal, how it came about, and how all the players in the debate are reacting tonight. several asian markets will have opened and others opening soon. we will take you there live. >> it has been amazing day, don. earlier today, the senate democratic leader signed off on the deal. depending on fellow democrats. nancy pelosi said she would take the deal to her caucus tomorrow, but wanted to see the final product before committing her support. >> cnn has been devoted to th...

deal would save the u.s. credit rating. im gloria borger in for candy crowley. and this is "state of the union." were just an hour away from a vote in the senate on a democratic plan to raise the debt limit, but the real action is between the president and the republican senate leader mitch mcconnell. i spoke with him earlier, and he was optimistic about getting a deal. let me get right to it. can you announce this morning that a plan has been reached, theres a deal? >> were very close...

>> reporter: i think its a step in the right direction in terms of reaching a compromise. the big question remains while we have heard that harry reid signed off on the deal, where do republicans -- the key republican negotiators in this whole deal, where do they stand on the issue? in the house as well as in the senate. well, were still obviously looking to get guidance on that. we have heard from one top senate republican leadership aide who said at least -- at least right now theyre...

for the first time in the history of our country unless there is a compromise or they accept my bill, were headed for economic disaster. its time for republicans to step forward. theres been some movement today. as i indicated on the floor, i was having a meeting in my office this afternoon with some splun and that fell through. as they were walking into a conference, three republican senators said they were interested in my bill, interested in compromise. they need to step forward. ...

after piece of red meat to the right-wing lion that seems to dominate his caucus. >> were not going to divulge. were going to solve this problem, one way or another. >> countdown to crisis. your financial future hanging in the balance. this is "piers morgan tonight." good evening, an extraordinary day on capitol hill today. the house passes the boehner bill and the senate properly slaps it down. senate majority leader harry reid held a news conference speaking on tonights vote. >> sena...