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Transcripts For CNNW John King USA 20110726



cnn congressional correspondent kate bolduan joins us now from capitol hill, what is the latest? reporter: you know the cbo numbers, the congressional budget office, jessica, this office that scores, gives a cost estimate, for legislation, it s very critical, and this evening it came out the cbo brought out gave out its estimate, and it says that the speaker boehner s bill falls short of what its target was. it says that it would only reduce the deficit by $850 billion, rather than the more than a trillion dollars than the legislation said it was going to said it was going to. here s why it s such a big problem. because of speaker boehner, he said there s one major principle, you ll remember, jessica, as they moved forward to raise the debt ceiling, that the amount of the cuts be greater than the amount they raised the debt ceiling. and in this legislation right now is called for raising the debt ceiling by $900 billion, $850 billion, is less than $900 billion, so ....

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