Page 20 - August 2 News Today

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...

but "cnn newsroom" continues right now with brooke baldwin. >> speak of washington, we have a busy two hours ahead. randi, thank you very much. hello, everyone. are you ready for this? the debt deal is done, right? not exactly. we still need to see votes happening both in the senate and the house. on the house side, it looks like some democrats could be holding things up. well speak with one of them. we expect to hear from speaker of the house, john boehner this hour. well carry that...

meeting between the president and his top party leaders in congress? >> reporter: as far as we know, the president is meeting right now with senate majority leader harry reid and with leader pelosi from the house, the leader of the minority in the house. and we dont have details on this yet, its a closed press meeting, meaning we didnt even get our pool cameras inside to get a glimpse of this, but we know from a white house official that they are meeting here at the white house and wer...

>> could i just add? could i just add? i think we all know that if the president decides to reach an agreement with us, the democrats most of them will fall in line. he is the leader of the democratic party, he is the president of the united states. he needs to indicate what he will sign and we are in those discussions now. >> reporter: something by monday, is that a firm deadline including the markets? >> im not going to put it to any deadlines, but it should be clear to you that sena...

Boehner bill can be brought to the house floor for a vote tomorrow. its call td same-day procedure, theyre going to make it possible for john boehner to tweak this bill once more. its been tweaked a little bit before and bring it to the house floor tomorrow. at 10:00 a.m. tomorrow eastern time, house republicans will meet in the capitol basement and there, speaker boehner will face a job of selling the retweaked bill to his conference. greta. >> greta: how do we get here? those who might just be...

Boehner bill can be brought to the house floor for a vote tomorrow. its call td same-day procedure, theyre going to make it possible for john boehner to tweak this bill once more. its been tweaked a little bit before and bring it to the house floor tomorrow. at 10:00 a.m. tomorrow eastern time, house republicans will meet in the capitol basement and there, speaker boehner will face a job of selling the retweaked bill to his conference. greta. >> greta: how do we get here? those who might just be...

marketsite. "american morning" starts right now. >> no vote on the debt plan again. im christine romans. as the u.s. economy lurches closer to a financial crisis, the political crisis continues. house speaker john boehner calls off a vote, unable to convince hardline conservatives in his party to sign on to his plan. >> im kiran chetry. more than 90% of texas is now in extreme drought. the state could sure use a lot of rain and now tropical storm don is expected to make landfall along ...

good morning. great to see you this morning. thursday, july 28. this is "american morning." advice teen out. we know yesterday a little stuffy. >> she sounded. >> it she is getting better hopefully at home today. a lot going on. >> imagine what our lead story is now? its the debt. the republicans are scrambling to line up house votes to stave off a potential first ever default of u.s. debt. the deadline, you know, this, august 2 now less than five days away. the house is expected to vo...

spending cuts in ten years. reid would hike the debt by $2.7 trillion now and mandate an equal amount of cuts. but the congressional budget office says the boehner plan would trim spending by $850 billion, and the reid plan by $2.2 trillion. boehner went back to the board and postponed the vote that was supposed to happen today. reids plan cant pass the house, and not only is boehners plan doomed in the senate, a great many house republicans dont like it either. so what happens now? we...

countrys coveted aaa credit rating could be compromised. the unpresence dented consequences for all of us. and why some lawmakers argue the looming august 2 deadline isnt the armageddon the president says it is. im wolf blitzer. youre in "the situation room." were only five days away from what could lead to unprecedented default in the united states if the political sparring between our elected officials here in washington doesnt stop. and we cant emphasize enough how devastating the r...