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family. take a look at this just released video. are london rioters firing at police helicopters. a live report in just a moment. severe storms strike the northeast, unleashing deadly flash floods and it's not over yet. the ohio valley could be next. but we start with the sputtering economy. president obama says there are steps we can take to spark the economy. watch. >> there are things we can do right now that will mean more customers for businesses and more jobs across the country. we can cut payroll taxes again so families have an extra thousand dollars to spend. we can pas...

can pass it in the next day or two and avert the first default on our national debt in history. >> i am worried about the size of defense cuts that may be contemplated, but that doesn't mean i'm therefore rejecting the agreement. i'm just worried. >> this is a head scratcher. stocks take a tumble after the debt relief rally that happened earlier this morning. the dow surged more than 120 points, but a weak manufacturing report, just sanction the market. stocks posting the worst weekly performance in more than a year in a debt stalemate last week. the dow is at 12:07. down 70 points. ...

Surpluses. >> there was a balanced budget. >> there weren't any surpluses under eisenhower. but go on. truman had the last -- i happen to know the history. i have the advantage on you, john. truman had surpluses. eisenhower didn't. >> look at his last budget, chris. >> but the question that you raise -- the question that you raise -- >> you mean after he's out of office? go ahead, these ludicrous. go ahead. >> the scenario that you posit, chris is a good one. this president looks to be becoming the guy that people voted for in 208. he's governing from the center, seeking common ground. he's fi...

They're broke. >> which surplus railroad talking about? >> there was a balanced budget. >> no, no, there weren't any surpluses under eisenhower. but go on. truman had the last. >> there was more money involved. obama has no money. >> truman had surpluses, eisenhower didn't. >> look at his last budget, chris. >> but the question that you raise -- the question that you raise -- >> you mean after he's out of office? go ahead, these ludicrous. go ahead. >> the scenario that the posit, chris is a good one. this president looks to be becoming the guy that people voted for in 208. he's governing from...