CNNW Anderson Cooper 360 July 20, 2011
>> that's the house tonight passing h.r. 2560, better known as cut, cap and balance. now it's a republican and tea party sponsored measure calling for massive spending cuts, a spending cap, and congress passing a balanced budget amendment. only then would the debt limit be allowed to go up, ending the current crisis. the measure was passed with just five democratic votes. senate democrats say they'll defeat it. if somehow they fail, president obama says he'll veto it. in other words, it's doa which is why a lot of democrats are calling it a stunt and a waste of time. earlier today a ...