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Detailed text transcripts for TV channel - MSNBC - 20110801:19:41:00

America has to deal with its spending problem and deal with the fact that we have made promises to the american people that our kids and grand kkids cannot afford. and in addition to that, we have listened to the american people who have a real interest in making sure that we don t get into the spot again, and that we ought to have a balanced budget amendment to the constitution, and i think that if you look at the, the structure of the ball lansd budget issues s is i s s balanced budget issues in the agreement, it is the best shot in the 20 years i have been here to build support for a balanced budget amendment to the constitution to put the kind of fiscal handcuffs on this congress that are sorely needed. if we had been operating under a balanced budget amendment, we never would have gotten ourselves into the mess we are in. but this is really important for our fiscal future, but it is important also for the fact that our economy needs to get going. ....

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Transcripts For CNNW CNN Newsroom 20110801

9:00 am on the east coast, 6:00 am out west. marathon talks lead to a new debt deal. at least in theory. the president backs it. so do leaders of both parties. still, no reason to celebrate just yet. in syria, a violent crackdown on anti-government protests. more than 7 0 people killed and counting. and new this morning, a big change to health coverage. the federal government will require insurers who provide birth control without co-payments. now, in just a few hours, we could see the beginning of the end of the debt crisis. it s been the issue in washington for weeks. and you re probably tired of the finger pointing and doomsday predictions. today, that could all come to an end if the house and senate approve a compromised plan. the deal identifies about $1 trillion in spending cuts over ten years and raises the debt ceiling by about the same amount. bipartisan committee must find ways to trim another trillion a, a so-called deficit posse. the president and hous ....

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Transcripts For CNNW AM Wake Up Call 20110801

trillion in cuts over ten years, raises the debt ceiling about about the same amount, sets up a bipartisan committee to find other ways to trim another trillion and change from the deficit. think of it as a deficit posse. it calls for both chamber of commerce eventually to pass a balanced budget amendment to the constitution. they don t actually have to pass it, they just have to vote on it. and the president and house speaker admit that the plan is not perfect, but hey, there s a deadline tomorrow. here s what the president said, then you ll hear from a freshman republican who, by the way, is dressed casually. give him a break, it was late on sunday night. now, is this the deal i would have preferred? no. but this compromise does make a serious downpayment on the deficit reduction we need and gives each party a strong incentive to get a balanced plan done before the end of the year. and to have bold changes to something so systematically broken is going to take tim ....

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Transcripts For CNNW CNN Newsroom 20110801

but cnn newsroom continues right now with brooke baldwin. speak of washington, we have a busy two hours ahead. randi, thank you very much. hello, everyone. are you ready for this? the debt deal is done, right? not exactly. we still need to see votes happening both in the senate and the house. on the house side, it looks like some democrats could be holding things up. we ll speak with one of them. we expect to hear from speaker of the house, john boehner this hour. we ll carry that live for you. so stay tuned for that as well. let s begin here. as the clock continues to tick, nine hours now remaining until a potential default of the u.s. government. and congress still hasn t voted on the debt reduction agreement announced last night. we heard the senate would be voting first. then we heard the house would be voting first. but the house still hasn t voted. that tells me there may be a problem rounding up some of those votes. we have just heard from vice president jo ....

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Transcripts For CNNW CNN Newsroom 20110801

traders are reacting to news of a deal. we need to get to jessica yellen who s at the white house now. the president came out a short time ago and said it appears a deal is in the works. not the perfect deal but one that will keep america from going into default. that s right, don. i have more information about how it came together. i came from a briefing with senior white house officials who say it happened between 8:10 and 8:20 when the vice president and the president, i should say and the vice president called the congressional leaders and affirmeded that they do, in fact, have a deal. this all started, we are told, after the boehner bill was voted on on friday. and once that went through, once they had the vote in the house of representatives they say things started rolling. they began negotiations here. as we have been reporting, vice president biden was actively engaged in talking back and forth with the leaders throughout the past few days. the white house has ....

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