Opposition Digging News Today

just a short time ago cnns manu raju reported that there would be a republican conference meeting tomorrow morning. that, however, we understand has now changed. i want to go to cnns melanie zanona at the capitol with the new reporting on that and mccarthys frame of mind as well. melanie, what have you learned? >> reporter: well, things have not moved in kevin mckarth chriss direction since that third ballot where he failed to get the votes. its been back to the drawing board for kevin...

that third ballot, where he failed to get the votes. its been back to the drawing board for ken mccarthy and his allies. we have seen supporters going into his office. we are told he has been working the phones. he still hoping to negotiate and not planning to drop out. but meanwhile, i spoke to a gop lawmaker. this is some breaking news here. this lawmaker texted me and said this is someone who supported mccarthy. they said they have just gotten a phone call from one of the never kevi...

What should the political feud between Indian National Congress and Trinamool Congress (TMC) in West Bengal be viewed as? Clearly, it would be erroneous to

Just a short time ago cnns manu raju reported that there would be a republican conference meeting tomorrow morning. that, however, we understand has now changed. i want to go to cnns melanie zanona at the capitol with the new reporting on that and mccarthys frame of mind as well. melanie, what have you learned? >> reporter: well, things have not moved in kevin mckarth chriss direction since that third ballot where he failed to get the votes. its been back to the drawing board for kevin mccarthy ...

That third ballot, where he failed to get the votes. its been back to the drawing board for ken mccarthy and his allies. we have seen supporters going into his office. we are told he has been working the phones. he still hoping to negotiate and not planning to drop out. but meanwhile, i spoke to a gop lawmaker. this is some breaking news here. this lawmaker texted me and said this is someone who supported mccarthy. they said they have just gotten a phone call from one of the never kevin republic...

>> dan simon, living the collective dream in san francisco. cnn newsroom continues right now. >> hello, everyone, president obama is just about to land in columbus, ohio, to campaign for the jobs bill that republican leaders of congress are openly rejecting. barely 24 hours ago the president showed off his american jobs act and demanded congress pass it with, and i quote, no games, no politics, no delays. but then came the details of how the $447 billion package would be paid for. two ...

And the treasury department, the left hand of the government is issuing the debt and the right hand of the government, federal reserve is buying the debt and heres the danger and gets to the point mary made. if interest rates start to rise, as inflation rises because those two things move in tandem, think about this, stuart. what impact will that have on the federal budget if federal borrow ing costs rise a couple f interest rate points and you are talk about a trillion dollars a year of borrowi...

Government is issuing the debt and the right hand the federal reserving -- the federal reserve is buying the debt. if interest rates start to rise as inflation rises because two things move in tandem. what impact will that have on the federal budget if federal borrowing costs rise by another couple of interest rate points? >-÷y youre talking potentially a trillion a year of borrowing to finance this enormous debt. >> stuart: steve, how close are we to a real financial crisis? >> i think the eco...