now, we are standing by to here about two hikers held in iran. and then you will hear from the men who sin tau grated the marines. hello, i am t. j. holmes, and thank you for spending part of your sunday with us. this is what we're keeping an eye on today in the debt debate. 1:00 eastern time, that is when a vote is scheduled in the senate on majority leader harry reid's plan. that was the vote that was supposed to take place overnight but it was delayed late into the evening. listen to the senate majority leader. >> i have spoken to the white house quite a few times this evening and asked me to give everybody as much time as possible to see if a deal can be reached. >> the only way that can be done is with the president of the united states. and we're going to continue to work on that, and get this problem solved and let everybody in the country know we will not default for the first time in history, and that's how i am going to spend that time until we get that out come. >> the 1:00 eastern time is the vote, that's what we're keeping our eye on. and 8:00 eastern time, that is when the asian markets open, and that is relevant. the u.s. stock market had its worst week last week in more than a year. what happens in asia today could be the week to wuch. and then tuesday, that's when the government says it may not have the money to meet the obligations for the month of august, and that could lead to default. we warrant to hear from people on both sides on the aisle. interesting day, again, yes on capitol hill. >> i do think if we can come together on real cuts, which i belief there has been a ground work laid to do that every one -- not every one, but 90% of the senate in the house would support lifting the debt ceiling as long as there are cuts commensurate with that. >> we ought to get the folks in the room and lock the door and let nobody leave until these are worked through. there is so much back and forth. >> let me get to joe johns at the capitol there, and athena. any plans to lock them into the room? >> reporter: this is where we started yesterday. of course, a meeting happened with nancy pelosi and senate majority leader, harry yaed. and the president spoke with mitch mcconnell, and so we know these sorts of talks are going to continue. so if they decide another meeting will bring a breakthrough, that will happen. the framework is a tentative framework, and there's no deal and they don't know how close they are to a deal because there are several major details being discussed which is in line with what harry reid said, which is there is a distance to go to reach the final compromise. >> what is the framework as we know it so far, joe? >> reporter: right, and the best we can tell, this is what the president, the vice president apparently have been mostly to the senate republicans about, and it would include extending the borrowing authority of the united states, that's the debt limit, into 2030 which would avoid visiting the issue into the campaign. and the thing we're told to avoid most is really talking about the numbers that are involved in this, so we will stay away from that, but there are a few other ideas that would be an immediate debt limit increase that would be tied to some pretty healthy numbers in cutting the spending of government agencies over the next ten years, and there would also be a special congressional committee that finds savings and triggers a second round of cuts down the road. those are the broad outlines and things that have been discussed for sometime between democrats, republicans, and the white house. but these are very general ideas, t. j., and people are telling us to stay away from numbers. >> thank you both again. if you all get more information, we know it's early and on a sunday, but we know they are working. if you get anything we need to know we'll get you back in here. now, coming up in about 55 minutes, you can hear from senate majority leader, mch mcconnell, and joer blah borger is in for candy. you can join wolf blitzer. don't miss "get it done count down to debt crisis" here at 9:00 p.m. on cnn. and then two hikers back in a courtroom today. a verdict has been reached, and the verdict will be announced soon. bough tall and bower were hiking in northern iraq along the border of iran when they were arrested two years ago. the police say the three illegally crossed into iran. again, there are high hopes from the families of these two american hikers and also from their attorneys that maybe we could be getting to their freedom, but we are standing by and will bring you back as soon as we get word. a last-minute pardon spared one man eye for an eye sentence. iran state media reporting that that woman, bough ramy, she has changed her mind and is behind this decision. she was blinded with a man through acid in her face, and her attacker was to suffer the same fate in acore done with the law, and minutes before he was to have acid poured in her eyes, she asked that the punishment be stopped. now, a possible downgrade in america's credit rating could certainly impact us all. hopefully lawmakers will get this done. let us say good morning to reynolds wolf right now. >> we have a storm on the horizon, one by the name of emily. could be a good storm in the atlantis season. don was a dud that struck texas. they needed the rain and didn't get it. we'll talk about emily in just a moment. transfer! transfer! transfer! transfer! transfer! hello...my name is... peggy? 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[ major nutrition ] new ensure high protein. ensure! nutrition in charge! 12 minutes past the hour. let's say good morning once again to reynolds wolf. you will introduce us to emily? >> possibly. we see the air converging and the potential of this storm you see right here being named emily. but there is one thing, we see a little bit of development right here near the windward islands. it could sap the development from other storms that could develop as well. regardless, it looks leeward or windward islands will get some action. i can update you, kansas city, it has been just a miserable summer for you. 96 degrees. 104 in dallas where the summer will seem as though it will never end. and throw austin and san antonio into the mix. hot day for you. and then east, boston and new york, 86 in washington. and then look for a chance of severe storms to pop up in the plains, and then that is a snapshot in the forecast. >> thank you so much. we want to bring in our buddy from hln sports, joe carter. somebody says i want to make you the highest paid player, or highest paid professional in your profession, and you say no. you don't hear that every day. >> no, you don't. but this is coming from a guy that is above the rest of the league when it comes to moral standards. we're talking about peyton manning and he signed a new deal for less money to basically improve his team. now, he did take a pay cut. we should all be fortunate to take a pay cut and make $18 million a year. but the colts and peyton agreed to a deal for $90 million. the owner said he was willing to pay him $25 million a year, and he said no, hang on to that money and pay some of the others. we did a little digging and wanted to see, okay, how much does he make on the field and off the field. manning brings home $38 million with salary and endorsements, and brady brings home 30 million with salary and endorsements, and brady i wife brings more than peyton's wife brings home. so they win the financial war. >> he is doing it for the better of the team, and he wants to win a super bowl, of course. >> this time you see players holding out for the bigger paycheck, basically making him among the highest paid quarterback. >> you have good video for us. how does this rank? >> this is better than yesterday's tractor rodeo video. you see people go to professional baseball games for gloves, and there's a reason for that. a fan in the yankees game did not look his glove and was not looking at the game, because he took a ball right in the kisser. it hits him square in the face, and the result, a bloody nose. a fan back in june was on the cell phone, and he got hit in that same location. a reminder, if you are sitting there, look -- >> he looks -- >> i think somebody said foul ball, and -- definitely embarrassing. >> better than the tractor video yesterday. >> yes, we will not bring that back around. >> thank you so much, buddy. 17 minutes past the hour now. a possible downgrade of the u.s. credit rating. yes, bad for the u.s., but also bad for you. we'll explain. stay with me. we find the best, sweetest crab for red lobster we can find. yeah! 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[ male announcer ] it's the at&t network. and what's possible in here is almost impossible to say. we're 19 minutes past the hour. we're keeping an eye on that clock right now and it continues to tick down. we're less than two days away now from the day that the u.s. might not be able to pay all of its bills and a possible default. that will be the first time in u.s. history that the u.s. defaulted on his obligations. they are under way. harry reid says there is still a chance, a distance, if you will, a distance that is to be reached here. the senate is set to meet at 12:00, with a vote at 1:00 eastern time. one thing you have heard over and over and over is if no deal is reached the country's credit rating could be downgraded. >> never before has the u.s. had its credit rating downgraded, so it's different to know what the impact would be. one impact would be higher borrowing costs and that would affect everybody. on capitol hill they fielded questions but gave no answers. at the same time, a senior government bank examiner told lawmakers there's reason to worry. >> am i right to worry this could be real bad if our debt was downgraded? >> it's hard to measure, but i think you are right to worry, because it could happen and be a big thing. >> just how big is the mystery since the highest rating downgraded would be unprecedented. it could cost the u.s. government $100 billion in extra borrowing costs over the term. consumers would also pay. >> we will get back to that in a moment. we wanted to bring you breaking developments. the verdict in the spying trial of two americans that have been held for two years now, you will remember the story. three hikers were arrested two years ago, and iran said they were illegally crossed into iran, and charged them with spying. and one was released and two remained in prison, and they had their day in court in tehran. and now we are told there has been a verdict, but do we know what it is yet? >> reporter: we do not know what the verdict is, but the court had the last session and within one week they will issue the verdict, and according to the attorney for the two that i just talked to, if the verdict is guilty but the sentence is about two years, which is the same time they have served behind bars right now, he was hopeful that would be the case and they would be released. >> help us here, because we have been certainly in some out let's and they have been reported that being convicted of spying is actually punishable by death. why does the attorney believe that a sentence of two years would be handed down by this court? >> as far as i know, the charge of spying does not necessarily carry a death penalty. it could but it's not necessarily so. and the reason that the lawyer is hopeful, as i explained, is that they actually are finding them innocent is out of the question since they have been behind bars for two years, and so the best we could hope for is for the court to find them guilty of one charges or two charges and give them credit for spent in jail. >> can you tell us how the court system might work, and why a week? why are we waiting a week before that verdict is released? >> this is the iran law that the court can have up to this week. it could happen anytime. right now n. a day, in a week. >> up to a week. okay. were the two men, were they in court today? also, i don't know if you were in the court necessarily, but from what their attorney is telling you, maybe, what kind of mood are they in right now? are they hopeful as well? >> well, according to the attorney, both were present at court, and he said they look good physically, and i asked about the mental state, and he said while i was talking to them and with them their mental case looked normal. >> whenever that verdict is read, and let's say -- or released i should say, and let's say it's guilty and they will be released, how quickly could this all happen? >> again, within one week. as soon as the verdict is in, and if it is favorable the way we hope that it would be, then they could be released immediately or within one week. you know, it takes a week. it could take up to a week but it could be immediate as well. >> okay. we appreciate you hopping on the line for us, and some important developments that many have been waiting to hear, the family and friends of the two men waiting to hear, bower and fau tall getting their day in court. it was two years to the day now that they were picked up by iranian authorities, and they said they accidentally crossed into iran, and the government said no they were spying. they have been held for the last two years, and sarah shourd was released for medical reasons. these two getting their day in court today, and now a verdict has been reached, we're told, in their spying case. we don't know that verdict just yet. you just heard our reporter telling us there. this could come out up to a week, that's the time they have to release the verdict, and it could happen any minute or tomorrow or the day after that, we swrus don't know. but the attorney for the two men, telling us, cnn, that he is hopeful that there will be a favorable verdict, even if they are found guilty at this point, the attorney believes they have served their time, the two years they have been in prison. even if it's a guilty verdict, the attorney believes the men could be released and as soon as the verdict is read if it's favorable, they could be released immediately, and the two-year deal could, and i emphasize could, their ordeal could be over. breaking developments on this story. if that verdict happens to come out at any moment, we will bring it to you. we will take a quick break and come back. stay with me. our i-reporters making their voices heard on the web. listen to some of these opinions. >> this is your country's darkest hour, and it's time to stop rushing to the defense of big oil companies. it's time the super wealthy were made part of the national debt reducktion program. the time for compromise was weeks ago. do your jobs, congress. >> let's get out of this mess we're in regardless of who got us here and how it happened. we never defaulted on a loan and let's not start now. >> you have one side that designs plans and the other side that votes against the plan. doesn't matter what is in the plan. >> how can this happen? how can we elect, quote, career politicians, unquote, that has done nothing to prevent this situation. >> i am with the majority of the americans that work hard to repay what we borrowed. i am not defaulting or walking away from our obligations, and we're using a strict budget to make sure our payments are debt and i expect the government to do the same. >> it should be simple, a one simple statement saying it's this amount rather than that amount. the way we correct our deficit and debt is through a balanced approach and most recognize this. >> all right. we're coming up on the bottom of the hour. i want you to stick around for the our faces of faith. a lot are asking what should be cut from the budget? but what would jesus cut? that's coming up in our faces of faith. ♪ ♪ look at that car, well, it goes fast ♪ ♪ givin' my dad a heart attack ♪ [ friend ] that is so awesome. ♪ i love my car [ engine revving ] [ male announcer ] that first chevy, yea, it gets under your skin. ♪ but sometimes i wonder... what's left behind? 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[ major nutrition ] new ensure high protein. somewhere in america, there's a doctor who can peer into the future. there's a nurse who can access in an instant every patient's past. and because the whole hospital's working together, there's a family who can breathe easy, right now. somewhere in america, we've already answered some of the nation's toughest healthcare questions. and the over 60,000 people of siemens are ready to do it again. siemens. answers. with two children and no way to support them. people told me i wasn't going to do anything. and i just decided i have more to offer than that. i put myself through nursing school, and then i decided to go get a doctorate degree. university of phoenix gave me the knowledge to make a difference in people's lives. my name is dr. kimberly horton. i manage a network of over a thousand nurses, and i am a phoenix. [ male announcer ] find your program at phoenix.edu. we're just past the bottom of the hour on this