Credit Downgrading News Today

not default in 11 days when the u.s. government runs out of money and is unable to pay its bills. we have team coverage of all of these new developments. phil mattingly is in japan at the g7 summit. lets begin with melanie in washington, d.c. help us understand where things stand. is the president optimistic? >> reporter: what i would say is the talks have not blown up completely yet but they are hanging by a thread. after a weekend of rejected offers, installed talks, the negotiators ...

There is that a credit downgrading would make it much more expensive for us to borrow to finance our current debt, which is of course, substantial. for years weve been borrowing at rates that are historically very, very low. now that could change. but i will remind you, the last time there was a debt downgrade, as i said earlier. it didnt affect our borrowing rates at all. >> well just have to pay more? >> absolutely. that would be one scenario where interest rates would go up. but nobody is goi...

Reports that germanys chancellor merkel and frances president sarkozy, are forcing legal changes to get nations using the euro to comply with budget discipline. belgium, the latest casualty suffered the credit downgrading. if traders take their eyes off of europe this week, it will be for data. consumer confidence will be released tomorrow. wednesday, u.s. manufacturing data is due. followed thursday, by factory readings from europe and china. on jobs, private employment numbers are out wednes...

civilians. three members of his unit had already pled guilty. gibbs was accused of cuts off pieces of the corpses to keep as souvenirs and planting weapons to make it look as though the men were taliban fighters. gibbs will be eligible for parole in ten years. in the turkish city, 28 people have been pulled alive from the rubble after a deadly earthquake wednesday night. rescue crews worked throughout the day, thursday, to reach people still trapped. dozens more may still be buried. ...

and travelers squashed by major airlines. >> but first, to the desperate race against the clock to secure what president obama is calling americas national credit card. the country could face unprecedented default if congress is unable to agree on a deal to raise the nations debt ceiling. failure to do so could downgrade americas debt rating and could be extremely damaging for global economy purposes. lets get all the angles. weve just learned the president will be addressing the natio...