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this reid plan sometime this afternoon. expected to vote it down. it will be just a demonstration that the reid plan as is is not going to pass the house of representatives. meanwhile, the question is, what's going to happen in the senate, were there any meetings? no meetings scheduled among the leadersh leadership, a top republican leadership aide telling me mitch mcconnell doesn't want to meet with the democrats unless a representative from the white house is involved because the democrats don't have permission to sign off on anything unless the president says so. i also talked to ...

anything quite like this. let me explain what you are looking at. that's a plexiglass pontiac. it was built for the 1939 new york world's fair. it's being auctioned today and expected to sell for about $275,000. and from the cnn center in atlanta, georgia, this is your cnn saturday morning. glad you could spend some time here with us. i'm t.j. holmes. well, you know the story by now. the world's biggest economy is on the brink of possible default. we are all watching and waiting as the fight over the nation's debt ceiling just drags on and on and on. congress has just under three d...

and there's that clock that we speak of. just under two days away from a time when we're told by the treasury, this country will not be able to pay all of its bills. so let me give you the rundown of what's happening today. the house gets to work around noontime today. that's just about two hours from now. after some debate, they'll vote on a proposal from senate majority leader, harry reid. that proposal is expected to fail. then on the senate side, they open debate on that same reid bill at 1:00 eastern time this afternoon. the debate there could go on for some 12 hours. now, it ma...

hands. >> keep in mind, this is not a situation where the two parties are miles apart. we're in rough agreement about how much spending can be cut responsibly as a first step towards reducing our deficit. we agree on a process where the next step is a debate in the coming months on tax reform and entitlement reform, and i am willing and ready to have that debate. if we need to put in place an enforcement mechanism to hold us accountable for making the reforms, i will support that too if it's done in a smart and balanced way. so there are plenty of ways out of this mess. but we are al...

delayed. police in texas say a muslim american soldier confessed to plotting an attack on ft. hood just two years after a muslim officer shot to death 13 people on that same base. tropical storm don could hit the south texas coast tonight and drought-stricken farmers are welcoming the prospect of up to 7 inches of rain. we begin with that sobering reality check on the debt crisis and just how daunting the challenge has become. in less than four days, the federal government could run out of money and default on its bills. but on capitol hill, the process has taken a huge step back...