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ferreira is here to discuss the return of entourage. first bill karins has a check on extreme weather out there. flash flood emergency just dropped for the city of husouston. all schools have been closed for the houston area today as expected they will keep the kid home until all the floodwaters are completely receded so they can see how bad the damage was. one location picked up 10.5 inches of rain in one night alone. look at the radar we have cleared it out in the houston area. just one thunderstorm up to the north of there. we still have one flash flood warning out, but that s it. even beaumont and lake charms has charles has improved. so today we will see a good chance of strong storms, but they will be located further to the north up in the great lakes which is great, also the ohio valley, and it does look like possibility of isolated storms in oklahoma. so today s forecast very warm ....
gulf of mexico. residents of mississippi and louisiana got short notice warnings today. get ready for tropical storm lee to hit this weekend. it may not be as powerful as a hurricane, but it s moving at a crawl, which means new orleans canals and levees will be tested by a prolonged rain. up to 15 inches or more are expected plus a storm surge. we ll get a live update on storm preparations in a few minutes. but first, today s stunner from the labor department, the country saw a net gain of no jobs in august. plus no change in the unemployment rate still 9.1%. it is the worst jobses report in a year. wall street crater, the do you industrial, s & p 500 and nasdaq all lost more than 2% today. president obama didn t even try to put a positive spin on the news. no on-camera statement, not even a written one. we did catch one clims of him today as he left for camp david without even turning to wave good by. with us now, the president s former economic advisor, christina ....
have a great weekend. you re in the cnn news room where the news uned fors live this saturday, july 16th. live pictures now from washington where it s a day off from the talks about the debt ceiling, but not because there s a done deal. president obama and congressional leaders are still at an impasse after discussions at the white house all week long. the president maintained during his weekly address he wants to consider both tax hikes on the wealthy and spending cuts on popular entitlement programs. we ll try to get the president s the address now a moment. the republican response? a different take on the issue. they insist that tax hikes are off the table and a balanced budget amendment is needed. the solution to a spending crisis is not tax be ins. yet washington is consistently demonstrated that it cannot control its urge to spend. that is why the only long term solution is a balanced budget amendment to the constitution. only by restoring constitutional res ....