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CNNW AM Wake Up Call July 20, 2011

now, the plan does not address the debt ceiling. you see the debt clock there. it ticks down to august 2nd. that s when the u.s. could start defaulting on some of its bills. it could be a jumping-off point for a bigger deal. here are some of the highlights of the plan according to cnn senate forces, it shaves about $4 trillion off the debt load. rejiggers the tax load, cuts short-term spending by about $500 billion. it changes the entire budgeting process and it reforms social security. now, this plan is not to be confused with something you heard about yet, cut, cap and balance. that s a house plan that passed last night, imposing strict limits on future federal spending. that is likely doa, probably won t pass the senate. the president is promising to veto it if it did. in about 90 minutes, the spotlight in the news corp. phone hacking scandal turns to british prime minister david cameron. he ll be front and center at the house of commons talking about his links to ....

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CNNW Anderson Cooper 360 July 20, 2011

reconsiders laying on the table. that s the house tonight passing h.r. 2560, better known as cut, cap and balance. now it s a republican and tea party sponsored measure calling for massive spending cuts, a spending cap, and congress passing a balanced budget amendment. only then would the debt limit be allowed to go up, ending the current crisis. the measure was passed with just five democratic votes. senate democrats say they ll defeat it. if somehow they fail, president obama says he ll veto it. in other words, it s doa which is why a lot of democrats are calling it a stunt and a waste of time. earlier today a bipartisan group of senators called the gang of six came out with a proposal of their own that is being taken seriously, including at the white house. and so for us today, democratic fors acknowledge that we ve got to deal with our long-term debt problems that arise out of our various entitlement programs. and for republican senators to acknowledge that, rev ....

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CNNW John King USA July 19, 2011

effectively will not affect my ability to serve as commander in chief. dr. sanjay gupta will join us for a reality check. but up first, live action in the house of representatives and how it impacts a search for a deal to keep the government from a default most economist say could derail the already fragile recovery. this hour you see right there live debate. the house is expected by the end of this hour to pass the republican majority s cut, cap and balance plan. it would cut federal spending, then cap that spending and the house republicans also want a constitutional amendment requiring washington to balance its budget every year. as we watch the debate and the vote, this important footnote, this plan has absolutely zero chance of taking effect. so, why are you watching you might ask? this is for better or worse part of an important washington ritual, house republicans want their vote on their plan. the senate in the days ahead will also take votes on spending ide ....

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CNNW The Situation Room With Wolf Blitzer July 19, 2011

not to waste their time on a symbolic vote due to happen very soon. i m woft blitzer here in the situation room. rupert murdoch says this is the most humble day of his life. a titan of news business, he was called on the carpet before the british parliament today over the phone hacking scandal that shocked and afalled the world. along with a son and former chief executive, murdoch was hammered with questions about alleged crimes that brought down his popular tabloid, the news of the world. we felt ashamed of what had happened and wanted to bring it to a close. people lied to you and lied to their readers. we had broken our trust with our readers. it was rivetting, rivetting with the hours before these members of parliament. the headlines richard on what we learned. rupert murdoch said and admitted, this was the most humble day of his life. he was ashamed, as you just heard. but he also learned that they don t take responsibility for what took place. he sai ....

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