of their ability to borrow and their mortgage payments and credit cards and car payments. we need to get this done. we need to start focusing on the other issues facing this country. and that s how we put people back to work. and how we got this economy growing again and the way it should. jenna: senator shaheen thanks forejoining us today. nice to have you back on the show. thank you. jon: we have some brand new and very interesting polls what americans think of this debt stalemate we ve been watching for weeks now in washington and how they think the president is handling the debt crisis. scott rasmussen joins just ahead. otein.
princess of cnbc. always a pleasure. we elected these people. nobody agrees. it is like a spoiled child. it is just taking down the morale of the country. america is angry. congressional web servers crashed and the phones have been ringing. constituents are frustrated with the debt stalemate. the pressure is only going to mount. joining me from california is karen bass and the congress member from louisiana john flemming. thank you for being here. congresswom congresswoman, let me start with you. the question that seems to be on the mind of all of the americans. what in the heck is going on there? why can t you get this stuff done? i think it is very challenging. what i would prefer is we raise the debt ceiling clear without combining it with the deficit. like they did seven times under
always a pleasure. we elected these people. nobody agrees. it is like a spoiled child. it is just taking down the morale of the country. america is angry. congressional web servers crashed and the phones have been ringing. constituents are frustrated with the debt stalemate. the pressure is only going to mount. joining me from california is karen bass and the congress member from louisiana john flemming. thank you for being here. congresswom congresswoman, let me start with you. the question that seems to be on the mind of all of the americans. what in the heck is going on there? why can t you get this stuff done? i think it is very challenging. what i would prefer is we raise the debt ceiling clear without combining it with the deficit. like they did seven times under
offer the spending and deficit cuts that republicans thought it would. cnn s chief white house correspondent jessica yellin spends the next 18 seconds giving us the big picture. reporter: what s happening now is democrats are waiting. they re just waiting to see what happens with the republican s bill before making their own move in the senate. the big picture here is neither the republican s bill in the house nor the democrats bill in the senate seems to have the votes to get through both houses of congress. so we re back at stalemate. and so it s wednesday and there s no deal. the ted line is tuesday of next week. if congress can t get it done by then, you could start to see higher interest rates, a declining dollar and other problems. the white house website has put up a chart that breaks down the u.s. debt by administration over the last ten years. i was just looking at it. more than $3.5 trillion because of changes to the economy, not policy changes, but less tax in
stored at the cryonics institute which he founded in 1976. now your first look at wall street. the dow opens at 12,592, after losing 88 points yesterday. the s&p fell seven points and the nasdaq dipped 16. taking a look at overseas trading this morning, the nikkei was up 47 points, while in hong ko kong, the hang seng climbed 278. wall street was down monday as jitters heightened over the prospect of defaults with no progress towards a debt ceiling deal. volume was light, even by summer standards. suggesting many sat on the sidelines. while overall losses were moderate, the amount of falling stocks far outpaced advancers. wall street s so-called fear index jumped over 10%. the debt stalemate prompted a flight to gold and another record high. the dollar fell to a record low against the swiss franc, a traditional safe haven currency.