boehner is evil. >> when he did have the vote, he chose to go to the dark side. let's bring -- he chose to go to the dark side. >> all right, we've got it. >> did she just call him darth boehner? "fox & friends" starts right now. ♪ >> welcome, everyone. by the way john boehner has been called worse. with a name like boehner he's been called worse. could we have a deal? welcome everyone, we're here on sunday because it could be a big day for our whole entire country. >> and the news is whether we've got a deal or not. shortly after ten o'clock last night. harry reid said you know, i was going to have everybody show up in the mid feel the night and take a vote at 1 a.m. and he received word from the white house that apparently, the white house and this really hacks him off, you know, because it kind of bypasses him, and former speaker pelosi, dealing directly with mitch mcconnell, joe biden 6789 it sounds like they've got a deal, and close to a deal and some of of the frame work as well to talk about it. yeah, it looks like it's been going back and forth and take a look, it looks like debt ceiling increase, 1.2 trillion to 2.4 last night last through the night and living in my office, as high as 2.8 trillion dollars in debt ceiling increases, spending cuts have to be about the same amount commensurate. >> dollar for dollar. >> at least if not more. >> and guys, there's a little bit of wrangling whether or not that balanced budget amendment that john boehner needed so badly to get the house to vote for his, his plan, he will, that was in the senate plan for a while and it may be coming out. >> my understanding they only have to vote on it, but in the senate would be voted down. >> of course. >> just the fact because highered went-- after he received that bill determined not to have vote on it, that's sort of a political gimme, that doesn't mean that you pass the balanced budget. >> i think the way that it is explained very well, i think in the national journal this morning, and that is there would also be this super committee. and what they would do is beyond in first phase of cuts, if the president's going to get more the super committee has to come to realization and agreement on what they're going to do. if they can't come to an agreement and this is incentive for the republicans, then the balanced budget amendment would go to the states. >> right, that would be fantastic. however, we're hearing triggers now, also, so will it be a balanced budget amendment. >> they'd be part of the triggers, so that would incentivize the democrats to go ahead and you know, vote for the cuts. and what we really need to understand here, we're talking about raising the debt ceiling almost 3 trillion more dollars, that ends 3 trillion more spending. >> you're incorporating cuts to make up for the the 3 trillion, you're not starting to talk about cuts into entitlements, this is not going to get too much in the issues, we're not going to digress into that today. let's listen to harry reid. >> the issue has been now for a week or so. if the joint committee doesn't come up with the result, what should happen and we've been willing to say that we're happy if we don't arrive at the budget goals, with the joint committee that certain things should happen. we've been willing to say that there could be a s sequesteration. as long as they don't turn their head away from the american people and shared sacrifice. >> while the trigger is not exactly clear, we know that super committee can't come to an agreement, the trigger would be cuts to the pentagon, which republicans don't like, and cuts to medicare, which democrats don't like. >> did you hear that, he slipped that in there. it has to include revenue and moved it on quickly and-- >> one interesting thing, where is the president going to come out on this? because as recent as five days ago, six days ago, he kept saying that any deal had to have revenues and it had to be a long-term deal. so, now you're going to go bakken, what did you mean by that, mr. president, if you agreed to this. in the meantime, budgets were shocked when mitch mcconnell came to the microphone yesterday afternoon and said yes, we might have a deal. >> i'm confident and optimistic we're going to get a deal in the very near future and resolve this crisis in the best interests of the american people. let me just add, you know, our country is not going to default for the first time in history. that's not going to happen. i think we have a level of seriousness with the right people at the table that we needed and thought she'd had as the speaker indicated last weekend. we're going to get a result. >> the seriousness at the table, apparently it's that guy right there, mitch mcconnell on the phone with joe biden. it's between them and their staffs and they're the ones who have hammered this out where they say significant progress has been made and we may be close to a deal. >> let me ask one question, let's say they do come to a deal, doesn't it have to go bah to the house for a vote. >> absolutely. >> it doesn't mean it's a done deal. the house didn't like the original boehner plan that this is looking more like. will they get enough votes in the house even if they come to a compromise with the president today. i'm not sure we can say it's done necessarily. >> in the house you'd have open democrats voting for it and then mr. boehner yesterday, apparently convened what is called the tuesday group, which is 40-- you haven't heard about tease device, it's 45 moderate republicans and they've all been dialed in on the steps along the way and so, apparently they are all, we don't know if they're all on the same page, but at least they're all of the same idea that something has to get done. >> what about thursday, the original boehner plan was going to be voted on and they delayed it, delayed it again and then friday, finally friday afternoon they voted on the boehner plan and it passed because they added the balanced budget amendment and wouldn't have passed without it. fast forward they send it over to the senate. the senate plans around the reed plan, biden plan, mcconnell/biden plan. it looks like the original boehner plan that didn't pass the house because it didn't have the balanced budget amendment. if that's the plan that mcconnell and biden come up with and send back to the house, they're not going to get the steve hardy, who didn't vote for it until the balanced budget amendment was in it? but will they get enough democrats. >> and around, i mean, this is pulling the wool over america's-- absolutely pulling the wool over america right now saying look we're going to figure out a way to get this thing in there without the spending cuts because the spending cuts happen under balanced budget. >> they've got to do something. the white house has created a sense of crisis and chaos. tick, tick, tick, the meter is running or else they're going to throw grandma over the cliff. >> and i heard on the radio, dead-geddon, armageddon, debt-geddon. >> and admiral micromullen has been concerned about the troops and whether they would be one of the first in line to be affected. >> as we move into a change... we're pretty focused, the people who are already in the military. >> okay, that's clear, isn't it? so there he was, he was making his 15th trip to afghanistan and it was while he was over at camp leatherneck that the marines asked him, okay, if there are a bunch of pentagon cuts, how is that going to affect our equipment and stuff like that. and wherever he has gone so far during this particular swing through the country of afghanistan, the troops are saying are we going to get paid? and he's saying, i don't know. just know this whatever you are owed you'll get paid eventually. you know, and this is how this works down. if we do, talking about if we go into a debt ceiling where we can't pay our bills technically which i don't agree with anyway, let's say, the president has the tablt to decide who gets paid when. clearly the debt is going to get paid first. china and saudi arabia are paid before our military, as bad as that sounds, that has to happen, so our borrowing costs don't go through the roof and then pay the military and social security, and if you dodonn tt order, give the department of education money first, it's the president's fault. it's not congress and senate, it's up to the president, almost like a technical bankruptcy of the country. >> sure. >> moody's says that if the federal government, let's say on tuesday we don't raise the debt limit by then, moody's says that essentially, if they pay the principal and interest, as we as a country pay the principal and interest on the debt we will not have a technical default so we won't have the default. we might wind up with-- >> debt-geddon. >> decrews in our credit rating. >> i don't think so, they'd be out of their mind, to decrease the credit rating. the whole world, the global economy would go into flux if the u.s. debt is downgraded. >> moody's says they've got to cut by 4 trillion dollars, but we're not close to that. >> and the guys that-- >> the guys who got us into the financial problems. >> i was going to say that, once i figured that out and brought back the equation into my heads. how much do they pay attention to the credit ratings. >> i'm going to be called out for being a conspiracy theorist, moody's sat down before boehner's plan was signed and stuff went on, with the g.o.p. freshmen who are heavily tea partiers. now, moody's says we are going to sit down with you and talk about this debt problem. why would they do that? why wouldn't they sit down with the house complete leadership. >> politics. >> leading on tea party to roll. there's something going on behind the scene. i don't know if moody's is talking to the white house or biden saying, we'll do this, but clearly moody's, let's put it this way. would he won't downgrade the u.s. debt. >> the former speaker of the house, still the dominant leader of the democrats in the house. yesterday, very upset at john boehner and she went to a famous character in the movie. >> the speaker chose when he didn't have the votes, instead of to reach out in a bipartisan way, to see how we could work together, he chose to go to the dark side, let's bring-- he, let me repeat, and i repeat, he chose to go to the dark side. >> the dark side. could it possibly be she's referring to that guy luke skywalker's father, darth vader, could it be? >> she' talking about all the tea party republicans, in other words, saying that he in order to get the bill passed had to go to the dark side of the tea party movement to include that balanced budget moment. in simple terms, what do we teach our kids about money growing up, to increase debts and not pay off our bills, and spend and spend and spend. or if you spend a dollar, you have to earn a dollar. if you start to break this down simply, it starts to make sense. >> and how is you know, going to eye raub bah, 60 house members the dark side. they represent a big portion of the country. they were elected for a reason. they were elected on smaller government, no new taxes and cutting spending. dark side? it's becoming ingrained in american politics the tea party. >> there was a landslide election last november and we've heard that elections have consequences, well, madam speaker, this is one of the consequences. and love them or hate them, they stand on their principles. and i just saw harry potter, maybe the dark side-- >> these are characters i need to learn about. headlines, while were you sleeping, a deadly attack in afghanistan, a bomber blew himself up in the city of lashkar gah. at least 12 were hurt. the taliban claiming responsibility. and four people have died after two small planes collided mid air. it happened near tracker creek, alaska. you're looking at one of the planes, completely destroyed after it hit the ground and burst into claims and the other plane was damaged in the collision and did not hit the ground. the pilot is the the sole survivor, he surveyed the other plane's wreckage from the air and saw no signs of life and managed to land safely in anchorage. no word what caused that collision. being called a miracle, a caribbean airline jet flies off the runway and splits in after in the country of guyana, the flight at jfk slid off the runway and stop short of a deep reconvenient before breaking into two. 30 people were hurt and none of the injuries are life threatening. and they're looking into the possible cause of the crash. nobody responded to this crash, no ambulances, no help. it was a sight to see in cedar rapids, iowa, hundreds gathered to match the implosion of a parking garage. it went down in seconds and filling the streets with dust and depre, 75 million dollar convention center and those are your headlines. >> all right. that's in iowa. now, let's go out to ohio and find out, at the 158th annual ohio state fair and there he is in front of a horse, rick reichmuth. wait, rick, that's no ordinary horse, is it? >> good eye, steve, it's the clydesdale, i didn't realize that ohio has a big budweiser brewery and they have clydesdale. this guy is levy, that guy is mike, but i think we're more interested in levy, and getting up this morning. there you go. we are going to talk about the weather. and we are going to talk about the weather this morning and a lot going on, especially the heat and take a look at the weather map. levy likes it except parts of the plains and 87 degrees at dallas, texas. it's five o'clock in the morning and it's 87 degrees, they've had 29 days straight over 100 degrees and probably breaking reports. this week is going to be the hottest they've had yet. getting up to around 110 and get ready for more heat. take a look at satellite picture, the northeast today will be looking absolutely beautiful. we'll see lots of sunshine and the humidity is gone again. so that's going to be a nice relief, but the southeast extremely the hot and muggy and a lot of thunderstorms fire as the day continues on and the day heats up. out across the west, four corners, monsoonal showers and in the afternoon hours and some of that making its way into california and nevada, also. take a look at the high temperatures today for the day. the heat brewing across the central part of the country again. 96 in rapid city and 98 in kansas city, dallas, get ready, 104. so, unfortunately, guys, all of the heat we've been dealing with is still going to be there, right now, back to gretchen and lots more coming up in the ohio state fair all morning long. >> have a lot of fun, rick. as washington hammers out a deal to end the debt crisis, how will it break down for us? a lot of people are saying even if we have a resolution, we still might be downgraded. so let's take a look how that affects the regular folks out there. first of all, with regard to mortgage rates, car loans and credit card rates? >> the immediate impact, according to economists if we get the credit downgrading, s & p is saying if we don't cut a minimum of 4 trillion they're going to downgrade us. once the u.s. debt is downgraded or credit worthiness is downgraded and causes interest rates to go up not only for the u.s. a 30 year fixed mortgage interest rates could go 1/2 to full percentage points. car loans, 1/2 to full percentage point and your credit card would go up, but that would take 45 days. and the people who lend us money don't seem to worry about this. interest rates dropped back down a little bit and spoke to a friend of mine this morning. >> so you're saying just immediately, they can do that, they can increase the rate or are some people grandfathered into lower rates. how would that work? >> if you're fixed into your mortgage you're safe. an adjustable rate mortgage or line of credit that fluctuates with the prime rate, you're going up and borrowing costs. >> let's look at the impact. big red question marks we have november idea what's going to happen to the money that we're apparently saving up to retire on. >> the only honest answer what, will happen on august 3rd if we get the credit downgrade on the 2nd. usually in these worry periods investors run to u.s. treasuries. where do you run? some people say you go back in the stock market and i think people like eric would say gold is not a bad place to be although i don't think he's buying gold or park some of your money off to the side. what will happen when people run out of the stock market? no one can tell you yet, that's what would happen. >> we'll wait and see on that. what about pension funds and money market funds. what might they have to do. >> the credit downgrading, triple-a, s & p keeps saying they're going to downgrade us so some of the funds are required by law to only hold triple-a reported short-term u.s. treasury so that would potentially cause a lot of the pension funds, some money market funds to dump their treasuries on the market and sell them. drag down prices and interest rates go up, it would have that effect. a lot of xhifrts are saying, as long as the fund or pension is assured they'll receive their interest payment on the note. no need to sell it therefore they wouldn't have to dump them. >> you're going to be working over time, adam. >> we all are. >> thank you for coming in bright and early. >> my pleasure. >> let's go back to the curvy couch. >> gretchen, china pays a lot of our bills and did we seriously just cut them checks for 90 million dollars? yes, and wait until you find out for what? and inside arsenal, the soldier charged with plotting another mass in fort hood had a weapon of choice and he was read to roll. >> and an airport security shake-up, soon the tsa will be able to single you out for questions. it works in countries like israel, but what about the u.s. of a? 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