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this is prattsville in the cat skill mountains. officials say the volume of water rushing through the riverbanks is more than what's flowing over niagara falls today. just think about that. it stranded people in their homes and hotels. no way for rescuers to get to them. next, i want to share video from rhode island. 300,000 people there in the dark. no electricity. several of these, you can see them downed trees, just sheer wind power took them down. half the state is affected here. listen now as rhode island's governor is speaking a short time ago. >> really what we're focusing on ...

first the jobs. >> we created more jobs than any other state in the nation. as a matter of fact, in the last two years, we created almost half of all the jobs created in america. >> that's governor perry yesterday. you're going to hear that a lot in the weeks and months ahead. we checked with the bureau of labor statistics and his numbers, do, in fact add up. texas created about 262,000 jobs between the summer of 2009 and now that's out of 524,000 jobs nationwide. but the bureau of labor statistics says many of those jobs were for the minimum wage, minimum wage jobs have more than do...

at least for the moment. stocks bounced back in early trading today, after monday's 634-point plunge. right now, dow blue chips are up by 201 points. investors are psyched over today's fed meeting, and there's speculation it might announce a new stimulus. to boost the economy. president obama sits down with treasury secretary timothy geithner. that's happening this afternoon. they're going to size out the new market turmoil that is fearing -- that is fully feeding fear of double-dip recession. the president is promising to help a special congressional commission find a long-term fi...

meeting between the president and his top party leaders in congress? >> reporter: as far as we know, the president is meeting right now with senate majority leader harry reid and with leader pelosi from the house, the leader of the minority in the house. and we don't have details on this yet, it's a closed press meeting, meaning we didn't even get our pool cameras inside to get a glimpse of this, but we know from a white house official that they are meeting here at the white house and we're hoping to get at least a notification when that all wraps up. white house officials saying thi...

anything quite like this. let me explain what you are looking at. that's a plexiglass pontiac. it was built for the 1939 new york world's fair. it's being auctioned today and expected to sell for about $275,000. and from the cnn center in atlanta, georgia, this is your cnn saturday morning. glad you could spend some time here with us. i'm t.j. holmes. well, you know the story by now. the world's biggest economy is on the brink of possible default. we are all watching and waiting as the fight over the nation's debt ceiling just drags on and on and on. congress has just under three d...