let's all go "outfront." i'm erin burnett. "outfront," count down to another downgrade of america? the super committee held a rare public hearing today. they're the group of 12 charged with cutting the deficit by at least $1.2 trillion. if they don't do it, we can end up on a rate to higher interest rates and a lower standard of living. here are the dates we need to watch. november 1st, cbo says the super committee must submit their plan for review. that is five days from now. november 23rd. that is the deadline for the final submission. and then december 23rd. the final deadline when congress must up or down vote that plan. the committee must come to an agreement, and congress has to pass it or automatic across the board cuts will be made, half of them coming from our defense budget. the problem is those cuts don't come until 2013. they are too small to prevent more downgrades. yes, thanks to congress, america's economic standing in the world is on the verge of another downgrade. economist ethan harris at bank of america merrill lynch says he expects at least one more credit downgrade this fall "when the super committee crashes." note he writes when, not if. "outfront" spoke with a lot of major investors today, and they were all in the when, not if, camp. today, republicans on the committee shot down a democratic plan to cut up to $3 trillion. but note the word cut is a little misleading as you can cut the deficit by either cutting spending or raising taxes. so who are the people charged with coming up with a plan? the team of 12 politicians, six from each side of the aisle. one of them is "outfront" tonight. representative camp, appreciate you joining us. i'm going to talk about your tax plan out today in just a moment. first, given this whole debate this afternoon, the dems apparently offering a proposal, obviously details have leaked of cuts up to $3 trillion, half spending cuts, half tax increases. republicans shot it down. what happened? >> erin, i'm not going to go into all the details that happened within the super committee but let me say we've had lots of back and forth, lots of discussions. we all think -- i think take our responsibility very seriously to try to come to a solution of at least $1.2 trillion, which is our statutory obligation if you -- as you laid out, before the deadline. and we're continuing to work as hard as we can. but i think these discussions are best left to the meetings, and not to try to characterize them in the press. >> i would agree, every time there's character visions the other side gets angry. i appreciate that on this show. i think others in the media do as well. let me ask you this. is it fair to say that you are acknowledged that to get a deal done, there will have to be some sort of revenue increase? is that fair to say? >> i think it's important that we not try to box people in or out, that we continue to have discussions. obviously that's something that many people on the committee think is important to do. obviously i'm going to look at everything the committee does through the prism of, what is the best thing to grow our private sector economy, to create jobs in the u.s., and whatever policy it is i think that's the analysis we need to take. and ultimately, i think you're right, we need to get a package or i think there will be an overarching issue of can america deal with the problems that are facing it? can we address our long-term debt ask deficit problems? i hope we can do that. >> i heard someone recently say something that was pretty disturbing because it doesn't jive with what i hear from people in the markets, the people who control the interest rates we all pay on our mortgages, credit card and our whole country pays. someone said, if the super committee doesn't do its job they can kick the can down the road, bill gross from pimco, the biggest investor in u.s. treasury debt in the world said the u.s. is kicking the can down the road, one of these days like an nfl field goal kicker, it will lose its job. do you all on that committee feel that pressure that if you don't get this done we could end up with interest rates jumping sharply at some point? >> i think we all feel how important this issue is. and frankly the country spent more than it's had for 50 years. this is just not a new thing. we're at a crisis point and i think the preview what is we're seeing in greece and europe and we don't want to go in that direction. if we don't manage this issue now, as we point out, in many ways it could be an issue that manages us. and the decisions then that would be made under a crisis situation would not be appropriate. and now we can address some of these issues in an orderly way, in a way that isn't going to cause tremendous dislocation or discomfort. and we need to do it now. so i think we all feel very strongly about that. >> you came out with a tax plan. i want to ask you about it. cut corporate tax rates 25% and eliminate loopholes. i believe that is something president obama has also agreed with. as long as that were revenue neutral. will you on the same page with him on this? >> we are saying revenue neutral and he has said positive things about corporate tax reform. this is the first step in putting a concrete proposal out there. this changes -- our rates are the highest in the world. we're the only country basically left with this worldwide system of taxation. we need to do like other countries and go to a territorial system so our worldwide companies doing business around the globe that are american companies aren't double-taxed when they bring investment back to the u.s. we want investment to come back to the u.s. to create jobs here, not stranded overseas where it's invested there and jobs are created overseas. this is the first step to doing that and a big step to getting the entire aspect of corporate and ultimately comprehensive tax reform done in the congress. >> representative camp, thank you very much. >> thanks, erin. >> interesting idea, support on body sides of the aisle because it gets rid of what a lot of people in america are frustrated about. if there's no loopholes, lobbying to take advantage of them wouldn't benefit you. getting rid of loopholes for a lower rate could make a lot of sense. so john, do you think that those 12 members get it? >> i hope so. because we really can't kick the can down the road. we need them to succeed. the question is whether they've been set up to fail. because the leadership put forward partisan members. congressman camp, when you asked, would you be open to some revenue increases? whether that can be achieved through lowering rates and closing loopholes, he didn't say no. it's obvious what needs to be done. tax reform, entitlement reform. you can lower rates, close loopholes and erase revenue to pay down the debt, the we is political will to do that. >> what do you think? i have to say it was interesting the democrats came out with a plan, republicans shot it down. that's exactly the kind of politics we don't want. they become more entrenched. >> here we go again. it's also interesting to me that congressional leaders on both sides of the aisle have started meeting privately with their proxies, if you will, on the super committee. because people who serve on the super committee know that they can't make a move without their leaders. so they're now starting to caucus, if you will, privately so they can figure out what is in the realm of the doable. to me, you've got people on that committee who are key. one person i point to is rob portman of ohio. somebody who's a conservative, who has national political ambition, mentioned as a possible vice presidential candidate with anybody who runs, somebody the democrats feel that they can talk to. so i think when senator mcconnell appointed him, it was a very important signal that they do want to get something serious done. but again, the tax question is the big question out there. will they do anything on taxes? >> right. that is a big question. and of course, it's also the rhetoric that you use around it to have it be, if you're going to raise revenue, having it not be in class warfare terms would be positive. >> it would be but the question is what's the goal? deficit and debt reduction? or is tax cut theology going to take the first level? the question whether rob portman can lead reconciliation. maybe it's", max baucus, who however voted against simpson. we know what needs to be done. the question is whether the center is going to be able to hold. one person needs to cross party lines to bring this to vote in congress. >> there is no center anymore. that's the problem. there is no center. >> not on this committee. >> on this show we're trying to define it. you net sniped from both sides but we try. we'll talk about the baby lisa case and what police think they could find from the interviews going on today. plus surprising information in the latest polls. that's what john and gloria i going to talk about. real shock in terms of who's leading in crucial early states. and from the center committee's 12 members to the 12 caesars. silvio berlusconi is in the news again. we can't resist telling you all the lurid details. americans are always ready to work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ together for your future. so if i didn't know better i'd say you're having some sort of big tire sale. yes we are. yeah. how many tires does ford buy every year? over 3 million. you say you can beat any advertised price on tires? correct. anywhere? yes. like this price? yes. riously? yes what about this one? i'll beat it. this one? s we will. right, i only have one more question for you...this one? (laughing) yeah. get $100 rebate when you buy four tires. 100 bucks! only at your ford dealer. 3 million tires. 11 major brands, fiona's kind-of-nice. i don't know why you're not here. "the number" tonight," 37," 782. that's how many dollars it costs for an out-of-state student to attend the university of michigan. that makes it the most expensive public school for out of staters. president obama is taking on college affordability. touting plans to help students pay for college. among the ideas allow borrowers to cap student loans and provide a discount on consolidation student loans. student loans are in the discretionary part of the budget, and hence open to cuts right now. there are surprising headlines from big new presidential polls today. cnn's tom foreman has the numbers first. tom, who is out front? >> oh, it's time to go "poll vaulting." the first big state. mitt romney 24%. herman cain 21%. ron paul 12%. the next stop to new hampshire. once again, mitt romney 40% here. different from iowa. iowa has a stronger conservative movement, more of a tea party movement, herman cain has more support here, 13%. ron paul again at 12%. come down to south carolina. this is one of these four states that president obama did not win in the last election. down here, mitt romney again 25%. herman cain 23%. ron paul at 12%. down here into florida, big whopping battleground state. mitt romney again at 30%. herman cain 18%. newt gingrich at 9%. and erin, i know you can tell me who's missing from all of this. >> could it be the governor? >> look at that, 11% in south carolina. >> amazing. >> that's the best he did in these four states. that is not a good thing for them to hear at their camp tonight. >> no. really amazing as you said. tied with gingrich left, right and center. thank you very much, tom. gloria, what do you make on those polls? a few big headlines. not good for rick perry. >> no. and i think in the end, mitt romney will be very happy that rick perry got into this race. at least so far. because he's been the beneficiary of perry's decline. when you dig deeper, even in a conservative evangelical republican community in iowa, mitt romney is making inroads with evangelical voters. he's doing very, very well with seniors in the state of florida. he's even doing well with tea party voters in the state of florida. and that all comes out of the hide of rick perry. so what's not good for perry is good for romney. >> john, i'm noticing here on some of the national polls, you've seen cain vault to the top. wind the margin of error. here, romney appears to be pretty comfortably on top of cain. >> romney is able to consolidate those voters who aren't part of the tea-vangelist crowd. >> a new moniker. >> the tea-vangelists. herman cain is solidly in second place. he's solidified the gains he's made. those have come out of rick perry's hide. the other thing is look at the winner's circle, perry's not in there, it's romney, cain, and ron paul. give the man credit where he's due, he's in that top three. >> how serious is ron paul as a contender? his base has always been loyal, evangel pal paul-ites. >> he's got his loyal base, they will always be his loyal base. but he's not going to be in the top tier of candidates. he's not some money, actually, but in the end, i don't think he's going to wind up in that top tier. and i think herman cain is actually hurting him to a great degree. michele bachmann, by the way, nowhere in these polls. in the state of iowa, supposed to be her big move, she's trying to get more people to work there for her. she's trying to really make her move there. but look, she's absolutely nowhere. single digits. so i think what you're seeing now is the top tier solidify and perry hoping that he can get back into it. >> john, what about the fact that so many people are still undecided or saying, this is my choice now but i'm completely open to changing? >> that's the most significant thing in these cnn polls of battleground states is that around 50% of voters say they haven't made up their mind, they're open to making a switch. that shows how fluid this field is. the high level of dissatisfaction and a lot more action can occur. this is far from over. >> i think these tea party candidates are auditioning people. and they change from sort of week to week. who they like. and i don't think they've really settled. and in the meantime, they have to sort of figure out at some point whether they can live with mitt romney or not. that's a big decision. >> it's back to bed with mitt romney. now a man obsessed with michael jackson. yes. he collected nearly $2 million of jackson memorabilia, including this crystal-covered glove. the united states is trying to seize that glove, along with $71 million in other assets from an african playboy. doj is trying to get his $30 million home in malibu, a gulf stream jet he owns worth $38.5 million, and a 2011 ferrari worth $500,000. the u.s. says nagoya, the son of the ruler of equatorial guinea, took money from oil and timber deals and laundered it into the u.s. lanny brewer, the u.s. assistant attorney general of the criminal division. he told "outfront" this case is a crowning example that the u.s. will not support this type of theft by the world's corrupt leaders. it's a message they can't steal from their own people and spend ill-gotten gains from the u.s. the thing is the u.s. is part of how the man got his man in the first place. equatorial guinea is africa's third oil producer. nearly 100% of its trade comes from selling oil. who is the biggest trading partner in this corrupt leadership? yeah, the united states of america. it's something that got us thinking, america and china are competing in this great race in after did to get access to increasingly rare commodities like oil, copper and cobalt. when i was in congo i used a regional governor who used some of the money he got in public transparent deals from american companies to build a road to his weekend house and he bragged about driving his ferrari on his new road to his new house. the truth is while america may dislike corrupt regimes, it will do business with them if they have something the u.s. needs. and that is the reality. the shocking confession made by bernie madoff's wife ruth. how close they came to suicide. flu shots. a new study says they may not work for you. too bad because it's flu season. a story we cannot resist and readore. the lured by details about silvio berlusconi's sex parties. right here in america. yeah, over 100 years worth. okay, so you mean you just ignore the environment. actually, it's cleaner. and, it provides jobs. and it helps our economy. okay, i'm listening. [announcer] at conoco phillips we're helping power america's economy with cleaner affordable natural gas... more jobs, less emissions, a good answer for everyone. so, by reducing the impact of production... and protecting our land and water... i might get a job once we graduate. i have to be a tree in the school play. good. you like trees. well, i like climbing them, but i've never been one. good point. ( captain ) this is your captain speaking. annie gets to be the princess. oh... but she has to kiss a boy. and he's dressed up like a big green frog ! ewww. ( announcer ) fly without putting your life on pause. be yourself nonstop. american airlines. . >> now a story we cannot resist. this is a story about a guy who wants to dance. and the conservative authority that won't let him. but this is not a story about "footloose" or any of the other dancing movies so popular lately. no, this is a story about silvio burr leerlusconi berlusconi. that's the italian prime minister, in the news again insisting his infamous bunga parties are innocent get-togethers and not, as widely reported, the lured by sexual escapades of italian emperors past. even though berlusconi has been accused of fraternizing with an underage girl and prostitutes dressed as nuns at his parties, that's amateur hour. as for berlusconi, he defends his antics. he says "there was no sacrilegious behavior at my house. when a guest said are we going to have some bunga after dinner they were talking about dancing. this isn't even his biggest problem right now. he faces constant demands for his resignation as italy's economy gets worse and worse and members of parliament got in a fist fight, a picture from today. he's not doing italy any favors right now. at least this craziness gives us an excuse to play a clip from 1984 "footloose." >> let's dance! ♪ totally loose, footloose, kick off your sunday shoes ♪ ♪ jack get back come on before we crack ♪ ♪ loose you're loose, everybody cut footloose ♪ ♪ jack get back, come on before we crack ♪ ♪ everybody cut everybody cut everybody cut ♪ ♪ everybody cut footloose >> we couldn't resist. still "outfront." school swindle. the pressure to succeed. >> i'd gone through bouts of depression just because you feel so swamped. >> motivated by money? >> do you think dr. murray's greedy? >> do i think? >> conrad murray's team pleads his case. unveiled. >> this is a remarkable sign of defiance in a deeply conservative islamic culture. ♪ ♪ ♪ when your chain of supply ♪ goes from here to shanghai, that's logistics. ♪ ♪ chips from here, boards from there ♪ ♪ track it all through the air, that's logistics. ♪ ♪ clearing customs like that ♪ hurry up no time flat that's logistics. ♪ ♪ all new technology ups brings to me, ♪ ♪ that's logistics. ♪ fortunately... there's senokot-s® tablets. senokot-s®. for occasional constipation associated with certain medications. now you can save big on senokot-s® tablets! go to senokot-s.com. we focus on our own reporting, do the work and find the "outfront 5." number one tonight, mitt romney is leading new cnn polls in four primary states. our polls sho