Page 42 - August 2 News Today : Breaking News, Live Updates & Top Stories | Vimarsana

veterans group there at pennsylvania avenue being briefed on what could happen to their ranks if the debt ceiling is not raised. also cnn is learning some states making contingency plans. california specifically taking out a temporary $5 billion loan just to help pay its bills in case congress fails to act and turmoil in the credit market makes it difficult to borrow money after august 2nd. take a walk with me. i want to look at what exactly is proposed here. we have two different plans, two different bills on the table. one from democratic leader, senate majority leader harry reid, ...

the president will lay out his case within a minute or so. two minutes after the president finishes what is expected to be about a 15-minute speech to the nation, two minutes after that, we will hear a separate speech from the house speaker, john boehner. he is up on capitol hill. he will make his case, why the president right now is wrong. why the republicans are right. both of them presumably will say the stakes for the united states are enormous right now and the country must do everything possible. everything possible to avoid default. they've been negotiating publicly and privat...

on this debate before it's too late. and a disturbing new study revealing a widening gap between minorities and the wealthiest americans in the wake of a devastating recession. i'm wolf blitzer here in the situation room. first to what many say is shaping up to be an economic disaster of nearly unprecedented proportions if congress doesn't break the deadlock and agree on a deal to raise the debt ceiling only six days from now. the white house warning today there's no more wiggle room and beyond that date, quote, we lose our capacity to borrow. if that happens, interest rates could go...

weekend. markets around the world are falling. this will have a direct effect on your 401(k). >> i'm ali velshi. the norway terror suspect who admits killing 93 on friday is expected to appear in court in the next hour. his lawyers says he'll explain himself. little comfort to a grieving nation trying to make sense of a massacre, on this "american morning." good morning. it is monday, july 25th. this is "american morning." a lot going on. let's get you right to it. >> glad you're back. it has been a very, very busy news time. >> it sure has. >> while you've been gone. and they solv...

live on capitol hill correspondent. you've been following ins and o outs. i want to begin with the one offered in the last hour we heard from senate majority leader harry reid. what's in the latest plan. >> i was realizing this is $2.7 trillion in proposed cuts, brooke, on two sides of a piece of paper. obviously details need to be filled in what they are proposing raise it by this month, cut by this month. the cuts include $1 trillion immediately in discretionary spending. also a lot of money from war money. he's saying as afghanistan and iraq wrap up, there's about a trillion dolla...