Page 39 - May 16th News Today

Republicans have to deal with a $14 trillion question about raising the debt ceiling. thats the amount of money the country can legally borrow and were about to hit our limit. brianna keilar live in washington for us. just when you thought everyone is holding hands and getting along after fridays big deal, we have a whole week of fighting ahead. >> i know. it seemed like a crazy week, but if youre a runner, that was the stretch, kind of the warmup, and here we go, kiran. take a look at week ahea...

It is a big victory. youre right, when it comes to the debt ceiling this is another opportunity for some changes to be made, but its important that the debt ceiling vote take place and i think youre going to see the president a lot more engaged in this one. his treasury secretary, other members of his cabinet, have staked out and gone on point, on raising the debt ceiling. i think youre going to see him more engaged early on and will have the beneficial results. >> youve held office. im wonderin...

Its 75% if youve got 35 corporations that are paying 0 taxes. so, thats what i mean by comprehensive. i think thats what the president is going to be talking about. when he talks about revenues and expenditures. hes going to be talking about closing these loop holes, hes going to be talking about getting rid of these subsidies and putting our fiscal house in order. >> the truth, the debt ceiling is $14 trillion. it takes a lot of $50 billion cuts to get there and you have to fund the government....

Technical measure that will allow treasury to borrow more in the markets. and if they are not allowed to borrow more, they have two bad choices. one, they have to cut spending or raise taxes by several hundred billion dollars just for this year alone or they have to acknowledge that were not going to be able as a country to pay our country in full. well only be able to pay as much as we get in revenue coming in. >> the debt limit needs to be extended by may 16th. that is the deadline. any kind o...

>> its not an nba championship, but students at drake university broke the guinness book of world records for the largest custard pie fight. about 700 students let them rip saturday. students raised money for the peak of poverty that helps kids in africa for hiv and aids. >> every couple months they try to break the world record for and never do. >> i want to find something obscure. >> a big custard fight on college campuses. >> were trying to break the world record sitting next to ali for the m...

Note, this will be a marked difference, sharp departure from the paul ryan plan that brianna mentioned, and david plouffe saying candidly the ryan plan doesnt have a chance of becoming law. well see how this plays out when the president makes his announcement wednesday. set against the back drop of why the push now. you know this, congress has -- now needs to vote to raise the debt ceiling and that, of course, is on top of the mind of this administration. >> the larger issue, why that debate, wh...

Bringing down our debt and going to eliminating these deficits and he will have an approach that will deal with the revenues as well as expenditures. and so that may be a good starting point to latch on to the debt ceiling. >> congressman, its interesting, republicans have signaled they will again, like they did with this budget for 2011 that came down to the wire on friday, fundamental changes, perhaps, in health care policy and environment, over the abortion debate n exchange for their support...

What you need to know is that the last couple weeks of april, congress is on recess, so this is really something that theyre going to have a couple weeks in may to deal with. you have conservative republicans, michelle balkmchma not going to vote to raise the debt ceiling, because it gives congress the license to spend. but congress has obligations to make some payments and theyre going to hit the debt ceiling no matter what. if the debt ceiling was not to be raised youre looking at the u.s. def...

"the new york times" results $3 billion will be cut from programs at the labor, education and health and human services d departments. the battle over raising the debt ceiling is due in about a month. if not raised by may 16th, the government could run out of money. in the barry bonds trial today, jurors will rehear the testimony of a woman who claims she saw the baseball legend inject himself with a syringe. bonds is accused of taking performance enhancing drugs and lying to a grand jury abou...

We did, in fact, start it growing the revenues and he left office with this $260 billion surplus. i know it can be done. i was there, a part of doing it before. >> a booming economy sure helps, doesnt it? it sure helps when the economy booms gangbusters, that helped in the clinton administration. >> well -- >> yeah. finish your thought, sir. >> we are going gang busters yet, but weve created 1.8 million new jobs in the last 13 months. i think thats moving in the right direction. as opposed to 2....