Page 34 - Multi Correxion News Today

folks, its july 27th. welcome to groundhog day. the only movement is closer to the august 2nd deadline. less than six days the federal government could run out of money and default on its bills. next hour on capitol hill, the dooms day scenario is laid out. executives from credit rating agencies will warn lawmakers of the far-reaching impact of a u.s. downgrade. one debt plan, backed by house speaker john boehner, is yanked from a scheduled vote. the congressional budget office says it...

why congress may have breathing room when it comes to raising the debt ceiling on this "american morning." and good morning, everyone. it is wednesday, july 27th. this is "american morning." a lot going on today. lets get to it. >> it does feel like dueling bangoes, doesnt it? when you hear both sides of the debate theyre dug in but insist theyre right. >> and a growing number of americans want them not to be. >> they all say god bless america. how we get there is the question. >> tw...

veterans group there at pennsylvania avenue being briefed on what could happen to their ranks if the debt ceiling is not raised. also cnn is learning some states making contingency plans. california specifically taking out a temporary $5 billion loan just to help pay its bills in case congress fails to act and turmoil in the credit market makes it difficult to borrow money after august 2nd. take a walk with me. i want to look at what exactly is proposed here. we have two different plan...

for post august 2nd if no plan is agreed to. if the treasury couldnt meet its obligations, a bill being circulated would prioritize payments, social security checks and paychecks for troops. everything else would be covered if possible with cash on hand or put off until we can take on more debt. two main default avoidance plans remain on the table right now. speaker boehners plan would raise the debt ceiling twice, this year and next, with spending cuts now and an election year overhau...

on this debate before its too late. and a disturbing new study revealing a widening gap between minorities and the wealthiest americans in the wake of a devastating recession. im wolf blitzer here in the situation room. first to what many say is shaping up to be an economic disaster of nearly unprecedented proportions if congress doesnt break the deadlock and agree on a deal to raise the debt ceiling only six days from now. the white house warning today theres no more wiggle room and b...

cnn congressional correspondent kate bolduan joins us now from capitol hill, what is the latest? >> reporter: you know the cbo numbers, the congressional budget office, jessica, this office that scores, gives a cost estimate, for legislation, its very critical, and this evening it came out the cbo brought out -- gave out its estimate, and it says that the speaker boehners bill falls short of what its target was. it says that it would only reduce the deficit by $850 billion, rather than...

word. >> the truth is that the president wanted a blank check six months ago and he wants a blank check today. this is just not going to happen. >> as makeshift memorials spring up across norway, police and the public are searching for answers to fridays deadly attacks. the lawyer and suspect, anders breivik, the lawyer said his client is in insane. the suspects father, who doesnt want to be identified, agrees. >> translator: no, ill never have more contact with him in my darkest momen...

weekend. markets around the world are falling. this will have a direct effect on your 401(k). >> im ali velshi. the norway terror suspect who admits killing 93 on friday is expected to appear in court in the next hour. his lawyers says hell explain himself. little comfort to a grieving nation trying to make sense of a massacre, on this "american morning." good morning. it is monday, july 25th. this is "american morning." a lot going on. lets get you right to it. >> glad youre back. i...

live on capitol hill correspondent. youve been following ins and o outs. i want to begin with the one offered in the last hour we heard from senate majority leader harry reid. whats in the latest plan. >> i was realizing this is $2.7 trillion in proposed cuts, brooke, on two sides of a piece of paper. obviously details need to be filled in what they are proposing raise it by this month, cut by this month. the cuts include $1 trillion immediately in discretionary spending. also a lot of...

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...