Page 32 - August 2 News Today

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Most days in washington. here is the president on npr today discussing yesterdays quickly passing fad, the bipartisan gang of six proposal that realists have declared impossible to legislate before the deadline on the debt ceiling on august 2. tomorrow morning, president obama will hold a town hall on the, quote, ongoing efforts to find a balanced approach to deficit reduction. he will continue to make his case to the american people that he has bent over backwards. in fact, you can expect to ...

Here is the president on npr today discussing yesterdays quickly passing fad, the bipartisan gang of six proposal that realists have declared impossible to legislate before the deadline on the debt ceiling on august 2. tomorrow morning, president obama will hold a town hall on the, quote, ongoing efforts to find a ballanced approach to deficit reduction. he will continue to make his case to the american people that he has bent over backwards. in fact, you can expect to hear that actual phrase ...

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Would like to do in general? >> they handed out a three page outline but it has not been put into legislative text. there is no draft yet of it and so it is really hard to make an evaluation. and we have gotten conflicting reports about what is in it. they are trying and putting forward a proposal but we will vote this week on a cut, cap and balance proposal which i think represents the best opportunity to really address in a meaningful way the need to reduce spending, reform spending and get th...

Were going to stand good for it. >> sure were going to default, but were going to stand good for it, whatever that means. everybody should feel better. all of the beltway gang of six excitement today about this plan in the senate is proceeding as if congress all understands that theres a reason to act and act quickly, that the country will start to default on its debt and shut down on august 2, that the deadline is real and baring down on us. theres the assumption today, but you cannot take it f...

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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 tuning in, what happened? >> well, our boroughing authority is set to expire on august 2...

Aides talking. then, not trying to be dense, but how would you do taxes in the middle of the year? and then, there are lots of bad rumors and worse reporting today. which of course makes it like most days in washington. here is the president on npr today discussing yesterdays quickly passing fad, the bipartisan gang of six proposal that realists have declared impossible to legislate before the deadline on the debt ceiling on august 2. tomorrow morning, president obama will hold a town hall on ...

Lately is the deadline thats upon us to raise the nations debt ceiling is not really august 2. he has been trying to say that theres no reason to expect that the markets, the bond markets, stock market, etc., no reason to expect that they will wait until we actually default, until august 2, before reacting adversely. as we get closer and closer to the default date, just being too close to it without a resolution may, in fact, knock the economy off a cliff. at this point it could happen any momen...