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senate. but what would happen if the government defaulted on its loans? would it impact you? >> interest rates will rise. we'll be back in recession. of course, we already have a 9% plus unemployment rate. we're starting from a weak position. unemployment will rise to the double digits. we'll all pay a very significant price. first the british tabloid hacking scandal catches the attention of law enforcement here in the united states. a source tells cnn the fbi is investigating whether or not journalists working for rupert murdoch's news corporation illegally gained access to phone ...

Flies to chicago for two days of meetings there. a new nbc news/"wall street journal" poll shows president obama riding a surge of public support heading into next week's state of the union address. according to the survey, a majority of american now, 53%, approve of the way president obama is doing his job. that's an eight-point jump just from december when he was stuck in the mid 40s. after a five-week stretch that included bipartisan legislative achievements in the lame duck session of congress, mostly positive economic news and his well-received speech honoring the victims of the shootin...

Services committee. in senate testimony yesterday bernanke said economic recovery is on track and the fed is ready to step in, if necessary, to keep things moving forward. breaking news from the housing market. the latest figures out today show existing home sales sank more than 5% in june, despite those record low mortgage rates. a new quinnipiac poll shows more americans are concerned about jobs than cutting the federal deficit. a position that seems to favor the democrats when it comes to who americans trust to handle the economy. a virtual dead heat between president obama and republic...

Party-backed candidates part of the gop majority say in the house, what would happen? >> well, that is where it is interesting and quite complex. talking to a lot of republicans today, they asked these questions, number one, these are anti-government, anti-spending people. are they ever going to vote for spending bill? number two, will they split with republicans on votes for the wars in afghanistan and iraq and for funding those wars? that could be a big problem. they have to govern if they run a house of congress. >> thank you, gloria. once again, we will have a debate in the next half hour ...

Grown, but by how much? will it be less growth than say we had in the first quarter? that's more than likely since we had growth at 5% in the first quarter, so all of that put together is going to paint what appears to be a very negative economic picture in the mind of most americans. that said, the speed with which people get information now versus, say, before makes it possible that in september, october if there is suddenly some sort of acceleration that that would be put into the voters' mind. but right now you've got to look at this picture and think it's going to be pretty bleak the way ...