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joining us on the phone heather cobbler with the colorado police. if you can, tell us exactly how they were spotted and how they were taken into custody. >> well, good morning, first of all. these three suspects were taken into custody after what was about a 20-mile high-speed pursuit. initially this morning a witness said they spotted somebody that matched the description of who we were looking for, and troopers in the area tried to initiate contact on i-25 south of pueblo. it was the...

a meaningful handle on the deficits and the debt. now comes of course the federal reserve. we have ben bernanke here, which has used every tool in its box to keep credit flowing and interest rates low in the wake of the great recession. at 2:15 eastern, a little over an hour from now, the fed will tell us what if anything it plans to do in the wake of the downgrade, the debt snafu, the european debt snafu and the global stock freak-outs. in the meantime, i want to bring in richard ques...

of congress packed up and went on vacation. so now 4,000 faa workers are not being paid. tens of thousands of others involved in airport construction and maintenance are also off t job. and some $25 million are being lost every day in taxes because there is no one there to collect. that is more revenue lost in one hour than you will probably pay in your lifetime because congress members cannot reach an agreement agreement. weill tear into this developing dispute in just a moment, but h...

already for so many people. so its unbelievable. we just dont know. were at a point where there is a lot of concern because it is so uncertain. and people are following it, theyre talking about it. >> and theyll be doing that for the next two hours. hope fly well have something by the beginning of next week. live from studio 7, want to get you up to speed for this friday, july 29th. were will thalmost out of time. those words from president obama. the deadline for raising the country...

delayed. police in texas say a muslim american soldier confessed to plotting an attack on ft. hood just two years after a muslim officer shot to death 13 people on that same base. tropical storm don could hit the south texas coast tonight and drought-stricken farmers are welcoming the prospect of up to 7 inches of rain. we begin with that sobering reality check on the debt crisis and just how daunting the challenge has become. in less than four days, the federal government could ru...

"the guardian." how much is the press being spun by the president and the republicans. im howard kurtz. this is "reliable sources." the murdoch media empire is in all-out damage control mode as the scandal at the british papers continues to spread on this side of the atlantic, the fbi opened a preliminary investigation on whether phone hacking took place in the u.s. and the dizzies pace of developments has made headlines around the world. >> mps finally forced murdoch to withdraw his...

opportunity to do something big. we have a chance to stabilize americas finances for a decade, for 15 years or 20 years. if were willing to seize the moment. what that would require would be some shared sacrifice and a balanced approach that says were going to make significant cuts in domestic spending. and i have already said im willing to take down domestic spending to the lowest percentage of our overall economy since dwight eisenhower. it also requires cuts in defense spending. and...

bare bones bargain. if not, payments to critters, bill payments, you name it, there is not enough income to cover all that. every month we come up $125 billion short. if we cannot borrow to bridge the cap, 40% of the monthly obligations could not be paid, and that could include social security checks due to go out on august 3rd. the stakes we just laid out are monumental, so both sides have to give ground and risk their jobs for the good of the country. what is so hard about that, righ...

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