Page 33 - Debt Ceiling Issue News Today

The curtain a bit tonight on the whole debt ceiling issue. what is it? what happens if congress refuses to raise it? here is correspondent james rosen. >> since 1917, the federal law limited how much debt uncle sam can run up. ten times since 2001, congress passed a new law to raise the debt ceiling including four times since president obama took office. now he and the treasury secretary take turns issuing grim warnings about what will happen if we dont do it again. >> it could really destabiliz...

Tackle our overspending problem and $38 billion cut or $353 million is what c.b.o. says, that is not enough, but the same old thing from washington, they talk about massive cut and we still have a bigger deficit. >>neil: and c.b.o. said the cuts in reality were just savings that were passed along as cuts, most of them, and as you said the cuts are not what they appear to be. if what the debt ceiling issue comes up, where you would stand. would you raise it the way thens are now? >>guest: i would...

Special report on the job -- jockeying. >> speaker boehner is a deal maker, that is his history. but there are 87 freshmen republicans, who are really holding his feet to the fire on this $61.1 billion, over the year, of cuts they passed two weeks ago. so, there is a give-and-take and there are indications that vice president biden will lead negotiations with the leadership in the house of representatives but there is no official formal invitation for that yet and no olive branch, but indication...

The proposed irish bail-out. people convince themselves when the i.m.f. bailed out greece, that was going to be the one country and thats it. we told you it wouldnt be. now as they get ready to save ireland, people are saying wait, wait, wait. when does this end? news, it doesnt! portugal will likely be the next one to fall. economists say portugal is past the tipping point but debt interest rate, the point of no return. if portugal falls, spain. the poster child for the green economy will be th...