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really aren't too terribly far apart and the deal can be done by the august 2nd, tuesday deadline. let's listen to the president, this is when he spoke around 10:30 this morning. let's listen. >> good morning, everybody. i want to speak about the ongoing and increasingly urgent efforts to avoid default and reduce our deficit. right now, the house of representatives is still trying to pass a bill that the majority of republicans and democrats in the senate have already said they won't vote for. it's a plan that would force us to relive this crisis in just a few short months, holding o...

for news international and tabloids over in great britain possibly tried to hack into the phone numbers of 9/11 victims and possibly some other u.s. citizens, so now this scandal that started over in great britain has a chance to make it to the united states and the fbi it appears right now is getting involved. we'll have much more on this still developing story throughout the next couple of hours here on cnn. also coming up for you this hour, the man accused of killing and mutilating an 8-year-old boy is arraigned in court. the charges, first-degree kidnapping and first-degree murde...

Just focusing on the spending. evidence of the british case looks doubtful. very worried. in the u.s. case i've never seen an immediate budgetary position. that's a problem. the u.s. can borrow in current circumstances very easily and will be able to do so for some years. it's the medium- to long-term fiscal problems, the problems over the next 20, 30 years that have to be dressed. there will be this huge fiscal deficit. i forecast it before the crisis happened that that would be a consequence. i think the u.s. should be relatively relaxed about the short term and very much more concerned abou...

The u.s. can borrow in current circumstances very easily and will be able to do so for some years. it's the medium to long-term fiscal problems, the problem ofrz the next 20, 30 years that have to ab dressed. i forecast it before the crisis happened that that would be a consequence. i think the u.s. should be relatively relaxed about the short term and very much more concerned about the medium to long material. >> medium to long term, the ryan budget plan, does it solve the medium to long term? >> if you believe in any of the figures. i've actually spent time looking at it very, very kafrlly. ...

That caused this tremendous turnout, they will still be able to negotiate wages but some limit on that. is that the main stumbling block for people that are opposed? >> you hear things, taking away their collective bargaining rights, these aren't rights, these are the perks they received because they affected who they negotiated across the table for many years. wisconsin is broke like a lot of other states we no longer can use gimmicks or kicking the can down the road to fix fiscal problems. the cost of collective bargaining whether it's paying the bus driver in madison $159,000 or $68 million...