to allow speaker boehner's revised vision on the floor, but now his amendment includes a balanced budget amendment. and joining me now is kristen welker, and we are spinning it round and round and nobody knows how to end this thing, and yet the white house says there is room for compromise. >> and when the president spoke earlier he state ed thd that ths time to compromise and he said that time is running out, but the secretary treasury said that if we get to august 2nd without increasing the debt ceiling the united states will default on the loans for first time in history. as you have mentioned, what is being considered right now or talked about and debated is a bill that speaker boehner wants to be voted on later on today under his plan, and it was basically a two-step approach, a and the first step would cut spending by $900 billion and
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