Page 38 - August 2 News Today

Back to you. >> shannon: casey stegall, live in florida. thank you, casey. with the country days away from the authority to borrow more money, congressional leaders are taking a break from negotiation. a white house insists there is time to get something big done on a debt deal. steve centanni is live with the latest. >> reporter: this is becoming a cliff-hanger. no word at this point when the white house will hold the next meeting. there hasnt been one since last thursday. there have been talks...

They want to leave the tax code alone. democrats do not. they want to raise taxes in exchange for spending cuts. as part of the debt limit deal. they wont say that, of course. they say we need to increase revenues. but even agrees on that. just that republicans think increased revenues should come naturally from a growing economy. democrats would like that. but they want to raise taxes, too. bret? >> bret: as we get closer to the august 2 deadline, where do you think -- who has the advantage as ...

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Going to be adversely affected. >> thats why negotiators are meeting again at the white house tomorrow. but they cant wait until that august 2 deadline. they need an answer within days of right now to give congress about three weeks to write, tweak and pass the bill to raise that debt ceiling. arthel? >> arthel: before they get to that vote, they have to agree on cutting the deficit, so there is got to be sticking points there, right? >> definitely. john boehner agrees with the president, that t...

Today. and now in the weekly g.o.p. address, senator dan coates from indiana says the president needs to do what his governor from indiana, mitch daniels did, cut taxes and lower spending and pay down the debt and then coates says, everything will be better. >> the president and democrats in congress must recognize that their game plan is not working. its time to acknowledge that more government and higher taxes is not the answer to our problem and its time for bold action and a new plan to addr...

Hannity he doesnt believe august 2 is a dodd-dead date for the ceiling. >> dealing with the debt problem and the deficit problem is far more important than meeting an artificial date created by the treasury secretary. >> reporter: but mr. obama insists tim geithners august 2 date is a serious deadline and he tried to avoid alarming the financial market so he compared congress to his daughters. >> malia and sasha generally finish their homework a day ahead of time. 13 and 10. it is impressive. >>...

Bend the curve and put the country on a path of declining deficit. secretary geithner says the plan, the ultimate plan will need political and economic balance. >> it will take the democrats and republicans in both houses to do something. that is the reason why politically you have to have balance in the deal. economically you need balance in the deal. if you try to reduce the long-term deficit without doing sensible tax reform, closed loopholes in the middle class, you have to do very deep cuts...

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Left for congress to act ahead of the august 2 deadline, its not clear for senate and democrats to get close to a deal. after meeting with them, the senate leader called it productive and attacked the other side. >> i hope my republican colleagues would put this ahead of politics and join to us create jobs and set aside the desire to please the tea party and defeat president obama. >> reporter: white house officials would not say when mr. obama would hold the next round of talks but the presiden...