Transcripts For CNNW American Morning 20110801

this "american morning.". busy weekend. good morning, august 1st. a lot going on today. >> it was an agonizing weekend and we were all up late last night. e-mails flying at midnight. >> it was busy. >> but things are a little brighter today than they were last night and saturday night and a little brighter. >> tiny bit. we start with that possible break-through in the debt ceiling crisis. in a few hours the house and senate are expected to vote on a plan by president obama and congressional leaders to raise america's borrowing limit in exchange for massive spending cuts. >> i want to announce that leaders of both parties in both chambers have reached an agreement that will reduce the deficit and avoid default. the default that would have had a devastating effect on our economy. >> a sense of what the agreement looks like, going to increase the debt ceiling by up to $2.4 trillion. that is enough to get us through 2012, we hope. the plan also includes $917 billion in immediate spending cuts and it preserves the republicans' bottom line. a big win for republicans and fiscal conservatives no tax increases. the agreement requires a new bipartisan congressional committee to recommend additional cuts by the end of the year. in announcing the plan the president made clear that the compromise is far from perfect. >> now, is this the deal i would have preferred? no. but this compromise does make a serious down payment on the deficit reduction we need and gives each party a strong incentive to get a balanced plan done before the end of the year. >> reaching a deal is only half the battle. congressional leaders have to sell it to members. in the house minority leader nancy pelosi saying she sees -- needs to see, quote, the final product in writing before she can decide if she supports it. republican senator mike lee is now threatening to filibuster today's vote. >> senator, what do you think? are you going to vote in favor of this agreement? >> you know, i haven't seen the legislation yet. i haven't had an opportunity to read it yet. based on the summary i've received so far i'm not inclined to support it. i cannot support any effort to raise the debt limit that isn't accompanied by immediate and permanent structural spending reform. >> more excitement to look forward to. >> that's right. >> we are covering this story like no one else this morning. our brianna keilar at the white house, athena jones also in washington. brianna on the phone because i think our cameras exploded last night with all of our coverage. >> too many hours. >> one of the biggest things the white house was pushing hard for, for a while, they didn't get it, though, tax increases for the wealthiest americans. >> that's right. that is one of the big things that democrats and the white house wanted. you know what i think is interesting to think about, is that this bill is a two-part bill and in the first part this increase in the debt ceiling and then just spending cuts, but there is a whole lot of stuff that we will be talking about for months as the bipartisan committee that is being created in this bill works out some further deficit reduction measures. we don't know what that's going to be. certainly republicans are going to be fighting for entitlement reform, which they did not get in the first part of this bill as well, both sides have certainly tried to find common ground on tax reform and no doubt democrats are also going to be trying to look for some way forward on a tax increase, but there is one option that the president does have, keeping in mind, because what he's long wanted to do is let bush-era tax cuts expire for those making about a quarter million dollars per year or more. that was something he wasn't able to do last year. those tax cuts are now set to expire in 2013, so that's another option where he could get the tax increase he wanted, delayed a little bit, of course, if he chooses to go that route. >> brianna, let's bring in athena. nancy pelosi saying flat out she's not sure if she's going to support this and she's not sure about support among house democrats. how can this deal go forward then? >> this is why it's not quite time to breathe a sigh of relief. this bill has to make it through both houses of congress. it's going to take republican and democratic support to get it through. and as we heard brianna talking about we know some of the issues that each side will have. on the democratic side they are disappointed it doesn't have the tax increase in the deal as it stands right now. on the republican side you have these conservative republicans, especially tea party members, who are against a debt ceiling increase period. it's going to be interesting to see how it plays out. on the point about representative pelosi, it's important to remember it's not that unusual to hear members of congress say, well, i want it to review the deal, i want to look at it and read it before i'll commit to voting to it. i spoke to a republican on that conference call last night with speaker boehner where he layed out the details of this deal to his caucus and that republican said while he believes the deal is likely to pass he doesn't want to commit to it until he's read it as well. it's not necessarily that surprising that pelosi did not commit the votes of her entire caucus when folks haven't necessarily seen the deal. >> i suppose we should be thankful that's what members of congress do, right? they say let me look at this. i've heard what the president and boehner and reid say it is but i'm going to look at it. this has to go through two votes. what's the likelihood? >> certainly the goal is that both houses will vote on it today. the planning, the thinking is that this will start in the senate, that they'll be debate opening some time around midday and perhaps a vote in the late afternoon. now if that passes, then it will go on to the house where hopefully there will be a debate and then a vote late tonight. we'll still have to see. they will have the morning, midday caucus meetings on both sides of the aisles and we expect there is going to be a lot of cojoling and explaining to make sure the deal can get done tonight. >> thanks, guys. >> yeah, another late night. >> i can't wait. >> up watching congress. >> who needs sleep anyway. >> coming up in the next hour, by the way, at 7:00 eastern, we'll get more on this plan from gene sperling, assistant. >> he's the -- >> assistant to the president for economic policy. wanted to get his title exactly. going to be speaking on behalf of the white house. we're going to ask him about no revenue, no tax hikes, nothing? >> what did they get? >> what did the president gain. >> what did they get in the trade? >> it's not the deal he would have signed. >> some are saying he got nothing except this thing won't go through the november elections. >> and we've got an all-star lineup this morning actually. we've got gene sperling, we're going to have john mccain, dick durbin, we've got a lot of people lined up this morning. >> used to be treasury in one of the bush administrations. >> steven moore from "the wall street journal ". >> yeah. >> it's going to be a busy morning. >> nobody's doing a happy dance. we'll put that's way. >> we have work to do still. >> markets around the world exhaling, a lot of relief there is a debt deal on capitol hill. >> global markets rallying on the news. still plenty of jitters out there. there always are. we are live in beijing. we've been watching the futures all morning, showing a positive open for the u.s., predictions. >> less than it was a few hours ago. >> with a grain of salt too. hi. >> hi. just as you said there are jitters but at the same time we did see a relief rally in asian markets. tokyo was the biggest winner. the u.s. dollar strengthened against the japanese yen and that helped to give a boost to the exporters in japan. here in china people were relieved. a lot of the manufacturers breathe a sigh of relief this is because we've seen authorities here really for weeks now, urging washington to get its debt problem under control. also, people have been very concerned and actually the state media has dubbed all of the politicking an irresponsible and dangerous game of chicken. they've been saying to stop playing that. still a lot of caution here because of the debt concerns and that's really what we're seeing playing out in the markets. as you said, jitters here but at the same time people are feeling somewhat relieved. >> that's interesting. american media and chinese media, state media, on the same page. >> right. >> dangerous game of politicking and game of chicken. that's very rare that happens and we're both sort of taking the same point of view. thanks. >> let's go to london. trading is under way right now. nina de santos is standing by in london. as we mentioned, we had a strong market in asia overnight. started to weaken as we get through europe and futures in the u.s. still looking like a positive open. but what's the feeling where you are? >> cautious optimism is the only thing i can tell you, ali. what we have at the moment some of the markets rising in excess of 1%. some of the traders behind me on this very trading floor are trading the ftse and it's up in excess of 1%. in today's session. what they've been saying, put that into perspective, this is still a market that like many of the other european markets has fallen in excess of 4% just last week as, of course, the impasse on the u.s. debt ceiling grabbed all of investors' attention and they're towarding their attention towards foot tour asking will the united states even if we get a raising of the u.s. debt ceiling manage to keep its aaa credit rating. one thing that is affecting the dollar, regaining some ground against the euro and pound in today's session but still a currency down about 17% in the past year on the back of these kind of concerns. the euro is also down on the year. the euro, accounts for about 26% of the world's trade. the dollar two-thirds of the world's trade. you can see just how important whatever happens in washington will be for the markets and the market makers behind me here. ali? >> you're right. accounts for two-thirds of the world's trade and that's why this is -- this was not an american problem. this was a global problem in the same way that the euro's problems were a global problem. you'll stay on that and we'll check in with you later. >> you talk about these problems, one thing this deal does not do, does not create one single job, nothing about the wage gap in america. >> you wouldn't know that about what some republicans are saying in america. >> exactly. >> if it hadn't happened it would have cost us jobs. as i said last night that is the equivalent, we had somebody on air saying this is all about creating jobs and i said that's like me saying that i saved a life by not killing somebody. >> oh. >> that's what it is. >> something to ask gene sperling and others we're talking to, what about the wealth gap. we heard from puew this wealth gap widening between the country. who is it going to hit, how will we do this in a thoughtful way. nothing that's been happening in washington has been done in a thoughtful way. >> the other thing, we're going through this austerity program now, isn't that what they like to call it, we cut everything. some people say that will actually cost us jobs, many economists feel that way. >> yep. >> what exactly has this done for the average american. >> that's going to be a good question for dick durbin, for gene sperling. >> and brings us to our question of the day. the debt deal, who won, was it wall street, main street, or someone else. cast your vote, send us an e-mail, tweet, tell us on facebook. we're going to read your comments throughout the morning. >> norway story suspect anders breivik reportedly purchased bomb making chemicals and other equipment for last week's attack on ebail. breivik used the site to buy sulfur powder for explosives, protective suit and drill press device to make bullets. the head of the medical panel investigating the suspect says he believes he's in control of his actions and not insane. more gunfire reported in hamas, syria, following a violent bloody weekend. government tanks rolled into the city yesterday, killing at least 71 people, injuring more than 100 others. president obama describes those attacks as horrifying. it was an electrical short that caused a fire in the cockpit of an air egypt flight today, actually on friday. 300 passengers had to be rushed off the plane before takeoff from cairo to saudi arabia. two firefighters also treated for smoke inhalation. and just a few broken bones and minor injuries after this caribbean airline jet slid off a runway and crashed saturday morning in guiana. look at that. just a few injuries. that thing has come apart. the boeing 737 split in half after crashing through a fence in rainy weather. it is amazing no one was killed there. ? chicago police say so many people are being busted for possessing small amounts of marijuana they might hand out citations inted of booking suspects. seems jails are getting overcrowded and many cases are thrown out by judges anyway. ladies and gentlemen, rock and roll -- >> believe it or not. mtv turns 30 today. you are old! on this day in 1981 the first music video aired on the 24-hour music network. it was the bugles singing ♪ video killed the radio star >> that's incredible. >> even looks antique. >> it does. >> it's embarrassing that used to be cool. anyway, mtv can be seen in over 600 million homes and has changed its focus since the early days with reality shows like "teen mom" and the fabulous "jerry shore." remember the original five deejays. i loved martha quinn. she was awesome. j.j. jackson. that was then, this is now. this will make you feel old. only four members of the original fab five remain, j.j. jackson passed away in 2004. but oh the memories. wow. >> that's -- getting my head around the fact that's 30 years. still to come, a big announcement from europe's largest bank and it could affect your local banking branch. we'll tell you more coming up. heat warnings. dangerous temperatures in the midwest, heat advisories and warnings are now in effect. is there any relief in sight? we'll check with rob marciano next. and sign on the dotted line. peyton manning's new deal with the indianapolis colts is a big one. it's more than big. it's humongous. how much the prized quarterback will be pulling in and he turns the money down. it's incredible. you wi you're watching "american morning." it's 15 minutes past the hour. o! really? 25 grams of protein. what do we have? all four of us, together? 24. he's low fat, too, and has 5 grams of sugars. i'll believe it when i--- [ both ] oooooh... what's shakin'? [ female announcer ] as you get older, protein is an important part of staying active and strong. new ensure high protein... fifty percent of your daily value of protein. low fat and five grams of sugars. see? he's a good egg. [ major nutrition ] new ensure high protein. ensure! nutrition in charge! oh, we call it the bundler. let's say you need home and auto insurance. you give us your information once, online... [ whirring and beeping ] [ ding! ] and we give you a discount on both. sort of like two in one. how did you guys think of that? it just came to us. what? bundling and saving made easy. now, that's progressive. call or click today. but not in my neighborhood. ♪ [ female announcer ] we're throwing away misperceptions about natural gas vehicles. more of the vehicles that fuel our lives use clean american natural gas today. it costs about 40 percent less than gasoline, so why aren't we using it even more? start a conversation about using more natural gas vehicles in your community. welcome back to "american morning." here is what is new this monday morning. must be good to be peyton manning right now. the priced quarterback inked a deal with the indianapolis colts, five years, $90 million. >> that's a deal i can understand. >> very straightforward. ties the quarterback tom brady for the highest contract in nfl history. manning's well worth the cash. he's a four-time league mvp. did you hear a bit about how he actually turned down other more money so -- >> the indianapolis colts wanted to pay him more, but peyton manning says no, $90 million is enough for me for the good of the team. we need to higher better players. >> incredible. >> using some of the salary i would have gotten. speaking of leadership, a second chance for plaxico burre burress, i don't think this has anything to do with leadership but hey. signed a one-year, $3 million with the new york jets. he's hoping to revive his career with his new nfl home. >> after shooting himself in the leg. >> stop that. we don't want to be reminded of the horrible things. went to prison for that. prison, spent 20 months in jail on that gun charge. chose the jets over his two former teams the giants and steelers. everybody wanted him. >> rob marciano is here. we teased heat advisory, hot weather in the midwest, rob is here to tell us what it means, hi, rob. >> good morning, again. we're looking at more heat across the southern plains. sounds like a broken record. they are tired of it for sure. places like texas through oklahoma in through kansas and remember don, we were talking about that for a few days, end of last week, completely died friday night and brought practically zero rain in texas. not only dealing with the heat, dealing with this ongoing drought as well with zero help from don. 103 in san antonio, 109 expected, the actual high temperature in dallas, doesn't include the humidity. goes up and over 110 easily. that's going to go on i think for the next couple days. as a matter of fact, it builds farther to the north where this front is not making very much progress to the south. that's where we're seeing thunderstorms pop up right now. and we'll see some thunderstorms later on in the day with a little weak front that's going to push through the northeast. that will help at least cool things down a little bit. it will cause delays if you're traveling through the new york city airports this afternoon, traveling this morning or i guess it would be over the next few hours through san francisco, some morning fog be aware of that. watching this carefully, this could be our next tropical system, could be emily as soon as later today. hurricane aircraft en route and it's very close to the winward islands heading to the west and towards the northern islands of the caribbean. they're going to be under the gun with heavy rain and maybe wind. if it continues to develop and strengthen we'll watch it carefully, potentially making a threat towards the u.s. and florida or the carolinas towards the weekend or early next week. >> all right. >> keep you posted on potentially emily throughout the morning. >> thanks, rob. still to come on "american morning," your money on the move this morning. markets across the globe are reacting to the debt ceiling agreement. richard quest standing by live on this side of the pond to help break down global reaction. >> our question of the day pegged off, of course, a pending debt ceiling agreement if we get it. we want to know who won last night, wall street, main street, somebody snels. >> great responses already we're getting. >> counterintuitive responses as well. send us an e-mail, tweet, tell us on facebook. we will read your thoughts later throughout the morning. the eagle flies at dawn. the monkey eats custard. price-line ne-go-ti-a-tor. so, you've been double crossed by other travel sites and now you want to try the real deal. yes, is it true that name your own price... ...got even easier? affirmative. we'll show you other people's winning hotel bids. so i'll know how much to bid... ...and save up to 60% i'm in i know the lady in leather travels on three wheels. wait, is that code? that's my secret weapon... ...naomi pryce see winning hotel bids now at priceline. ♪ ♪ when you're resonsible for this much of the team, you need a car you can count on. ♪ 25 minutes after the hour. minding your business this morning. a sigh of relief, the line on wall street today. investors feeling bolstered now that u.s. lawmakers have reached a deal to raise the nation's debt ceiling. stock futures are trading higher on the news and world markets made gains. investors remained vigilant as congress needs to pass the bill officially. the dow lost more than 4% last week as washington struggled through this deal and that closed out the worst month for blue chip stocks since august of last year. gold price reese treating on news out of washington. gold futures dropped about 1% in overseas trading following a record high on friday of $1634 an ounce when investors rushed to the precious metal over uncertainty on the debt creel. >> hsbc announced it's slashes 5,000 jobs. the company said about 25,000 more jobs will be cut globally over the next two years. the bank said it sold 195 of its u.s. banking branchs to first niagara as part of its restructuring plan. 107 s&p 500 companies will report their quarterly earnings this week. insurance companies humana and all state expected to report before the opening bell. honda reported its net profit plunged 88% in the second quarter mostly due to the earthquake in japan. also on investors' minds this week, the big monthly jobs report for july. analyst surveyed by briefing.com are forecasting that only 78,000 jobs were created in july. last month wall street got a shock when the government announced only 18,000 new jobs were added in june. that was way below estimates. don't forget for the latest news about your money, check out the all new cnnmoney.com. "american morning" back right after the break. at exxon and mobil, our smart gasoline works at the molecular level to help remove deposits and clean up intake valves. it helps your engine run more smoothly and leave behind cleaner emissions. it's how we make gasoline work harder for you. exxon and mobil. president obama strikes a deal to prevent the country from defaulting on its massive debt. can he sell it to lawmakers before tomorrow's deadline. we're live in washington on this "american morning." welcome back. it is monday august 1st. you are looking live at the capitol where the big debt deal is being hammered out and finalized as we speak. it looks brighter and cleaner and looks like it's just not as messy. >> still got a vote on that thing. >> you're right. >> we do it all along. so worried about. >> put us through the agonizing weekend for nothing. this has been dragging on for seven months, this debt ceiling debate. >> this not a substantial different deal than many suggested a long time ago. it was dragged out a lot. >> not as if our debts and deficits came overnight. they've been here a while and hopefully we're trying to get them solved. in a few hours the house and senate will vote on that new debt deal. the measure increases the debt ceiling by up to $2.4 trillion enough to carry us through 2012 and includes $917 billion in immediate spending cuts without tax increases. that's $917 billion in spending cuts, that means you're going to feel it a lot of different places. calls for a new bipartisan congressional committee to recommend additional cuts by the end of the year, that means -- >> we should talk about that. so they're going to create this bipartisan congressional committee. >> yep. >> to figure out what to cut through the second round. they're going to cut $1 trillion off the top and the $2 trillion in cuts will be decided by this bipartisan committee. if it can't come up with an agreement, it will be punished. >> punished and automatic cuts. >> automatic cuts to medicare to punish democrats and cuts to defense spending to punish. >> no automatic tax increases. >> new round of cutting could be the mortgage interest deduction, a bunch of different things that affect all of us. >> a lot of people tweeting what does it do to this or that. i wish we knew. >> they tonight know yet. >> that's fine. a bipartisan commission of congressmen will get it done in like a week. >> congress has created a bipartisan committee to punish congress. >> yep. >> it's -- >> if it doesn't come up with an agreement. if you don't understand it it's okay, nobody does. >> okay. let's move on to other news. my head's about to explode. the fbi is offering a $25,000 reward to anyone with information about a missing new hampshire girl. rescue teams searched by land and air over the weekend for 11-year-old celina cass. her parents say she was gone when they went to her room to wake her up last tuesday morning. more gunfire reported in ha ma, syria, following a bloody violent weekend. government tanks barreling through yesterday, killing 71 and injuring more than 100 others. back to our top story now. a debt ceiling deal in place and in a few hours the house and senate are expected to vote on the plan. >> i want to announce that the leaders of both parties in both chambers have reached an agreement that will reduce the deficit and avoid default. a default that would have had a devastating effect on our economy. >> here's what the agreement looks like. increase the debt ceiling by up to $2.4 trillion, that's enough to get us through 2012. the plan includes as we said $917 billion in immediate spending cuts. there are also no immediate tax increases and the agreement requires a new bipartisan congressional committee, that's what we were talking about, that committee will recommend additional cuts by year's end in announcing this plan, the president made it clear the compromise is far from perfect. >> is this the deal i would have preferred. no. but this compromise does make a serious down payment on the deficit reduction we need and gives each party a strong incentive to get a balanced plan done before the end of the year. >> but there is still a tough hurdle in place. getting enough votes from both parties to pass it. so far minority leader nancy pelosi support is still up in the air. in a statement she said she needs to see that final product and republican senator mike lee, he's threatening to hold up the compromise. >> senator, what do you think? are you going to vote in favor of this agreement? >> you know, i haven't seen the legislation yet. i haven't had an opportunity to read it yet. based on the summary i've received so far i'm not inclined to support it. i cannot support any effort to raise the debt limit that isn't accompanied by immediate and permanent structural reform. >> let's bring in athena jones, live in washington right now. bottom line it for us. what is the likelihood we are going to see the necessary votes on this by tonight? >> i can tell you, ali, certainly the goal is to have both houses vote on this tonight. the thinking is that the senate will go first and if all goes as planned, democratic leaders hope to begin debate some time around midday between noon and 2:00 p.m., have a vote some time in the late afternoon. if it passes the senate it will go on to the house where leaders hope to vote tonight as well. of course it's hard to know what's really going to happen. both sides have acknowledged that the deal is not perfect. we heard president obama say that in his remarks last night. speaker boehner said that last night in the conference call he had with his caucus in the house laying out the bill. we know that speaker pelosi is not committed. we know the problems that each side may have with this bill. on the democratic side it doesn't involve the tax increases they would like to see right away and on the republican side, you have those conservati conservative republicans, members of the tea party in particular, who are against the debt ceiling limit being increased period. so during these morning and mid-afternoon caucus meetings each party will be be having in both houses with their members we can expect there to be a lot of explaining and cojoling in the hopes of getting this bill through. everyone understands it's down to the wire. this is the last minute and they need to get this through. we'll see what happens and what time it happens. >> thank you. as we've been talking about, there's a whole lot of stake in washington. the nation's financial standing in the world, our role in the world. the bottom line as nina said, the u.s. is responsible for two-thirds of the world's trade. this is crucial. a lot at risk if this doesn't get passed. richard quest is live on the national mall, as he wanted to see it for himself. he was fascinated abroad that americans could get themselves into this pickle he has come into the heart of democracy in america to understand it. are you figuring this strange people who are americans out? >> hey, listen, half past 6:00 in the morning, i am the only person who is out on the mall. where are all these americans that i was promised i would meet at this hour of the morning? listen, the debt agreement last night is very simple. think of ourselves or think of yourselves as i think of the financial world as being like the passengers on an oceanliner that sunk or was sinking and we've managed to get off. we are now in the life rafts. the only problem is, all around us, there are sharks and we've still got a long way to go. before we get to the land and safety. yes, the markets are cheering this morning's deal, or the overnight deal, they like what they see. it's a very good start. there are gains on most of the international markets, but the question is, ali, whether those gains stick. >> all right. richard. >> actually something i would like to know about our bond rating. even if we get this through and the president signs it does that mean we'll still have a aaa bond rating? >> richard, i'm going to have you go hang your head on that one. >> thank you, ali. i suspect during the course of today, the rating agencies, the major rating agencies, will be pushed very hard to say whether -- if the deal is confirmed, as it stands, they would agree to keep the aaa. now am i going to come down left side or right side? yes or no? ali, i'm going to let, as they -- i'm english, we are gentlemen, ali after you, announcing that one. >> come on, business people. >> mark zandsy from moody's.com the sister company thought this deal was big enough to avoid a debt downgrade, bill gross of pimco says no. >> there are big investors who say that the united states is not acting like a aaa country, acting like a aa country. even if you have a big deal today you have this political discord which does not bode well for the next round of all of this, even that commission that $1.5 trillion you have to cut going forward? >> do not underestimate the huge pressure that will be put to bear on the rating agencies now this deal has been done to hold the aaa line. it will l be very brave agency decide to go out on a limit and reduce it. i would not put money on the aaa going not in the short term after this deal. >> i'm sure many americans are hoping the same thing. we saw joggers moving by. go run after them and you'll meet your americans. >> we'll check in with richard. >> coming up at 7:30 eastern, we will be joined by senator dick durbin of illinois, he has tough questions to answer as the majority whip, he knows better than most democrats how to vote on this compromised deal. we want to ask him, what democrats got out of this deal. then we're going across the aisles getting arizona senator john mccain's take on the deal. he'll join us live at 7:40 eastern. we're back in two minutes. ♪ [ sponge ] okay, team. time to tackle these greasy dishes. we're facing some tough opposition today. i'm gonna need my biggest player. a change in the lineup? that little squirt? [ cheers and applause ] [ female announcer ] one bottle of ultra dawn has the grease-cleaning power of two of the leading non-concentrated brand, giving you double the cleaning ingredients in every drop. [ sponge ] way to go, kid. you really knocked the grease out of them. [ female announcer ] dawn does more... [ sponge ] so it's not a chore. [ slap! slap! slap! slap! slap! ] [ male announcer ] your favorite foods fighting you? fight back fast with tums. calcium rich tums goes to work in seconds. nothing works faster. ♪ tum tum tum tum tums good morning to you, welcome back to "american morning." it is question of the day time. the house and senate are expected it to vote on a debt ceiling agreement by president obama and congressional leaders. >> we want to know, in this debt deal who won last night? was it wall street, main street? was it someone else? here is what you are saying. some fantastic answers. monica on our blog says the tea party won. a new gang -- i'm sorry, is that monica? >> yeah. tea party won. >> and this is from sarah, she says -- >> and from our blog, caleb says -- >> probably right. keep your comments coming. send us an e-mail, tweet, tell us on facebook. we will read your thoughts later in the program. a break from the debt deal news can only mean one thing, cute animal video thing. teaching a dog to play dead, everybody's done it. see this puppy with another dog, after a nip to the neck, the puppy fakes its death. for a little while and then gets up because it wants to play again. >> the other dog, what happened? i sort of kissed you. >> check out the baby silver leaf money at the nurse at the san diego zoo stepping in after the newborn's mother had trouble feeding her. the monkey is getting plenty of social interaction between feedings, the bond is strong despite the nursing issues. >> one more if you can stand it. check out these dancing moves. this baby hippo born back in january weighing 100 pounds. this video shot at the san diego zoo last month. officials say it's been interesting to see this young hippo's personality blossom. >> seems unaware of the fact that hippos don't have personalities later in life. might as well get it out in the first month. they sit around in the water all day and eat grass at night. don't do stuff like that. >> sounds like a good life to me. >> me too. >> one man's dramatic transformation from recruit to soldier. cnn followed him through boot camp to his first deployment in afghanistan. our jason carroll will join us with this really incredible story. labored breathing ] [ coughing continues ] [ gasping ] [ elevator bell dings, coughing continues ] [ female announcer ] congress can't ignore the facts: more air pollution means more childhood asthma attacks. [ coughing continues ] log on to lungusa.org and tell washington: don't weaken the clean air act. yoo-hoo. hello. it's water from the drinking fountain at the mall. [ male announcer ] great tasting tap water can now come from any faucet anywhere. introducing the brita bottle with the filter inside. good morning to you. it is 46 minutes past the hour. here's look at your headlines. a compromise debt deal may just be hours from a vote in both houses of congress. the measure increases the debt ceiling by up to $2.4 trillion. then also includes $917 billion in immediate spending cuts without tax increases. stepping up the search for 11-year-old celina cass. the new hampshire girl has been missing since last tuesday morning when her parents say they went to her room to wake her up and she was gone. a relentless heat wave smothering the midwest. eight state face excessive heat warnings or advisories this week. the heat index expected to hit 110 degrees in parts of kansas, missouri, oklahoma, arkansas, nebraska, north carolina and texas. a verdict and sentence expected this week for two u.s. hikers who have been held in iran on spying charges for the last two years. the attorney for shane bauer and josh fattal says he hopes they will be found guilty, sentenced to time served and sent home. a new report says hate crimes against gays and lesbians are up despite a drop in overall violent crime and states legalizing same-sex marriage in the repeal of the don't ask don't tell policy. the report of the national coalition of anti-violence programs says hate crimes against gays and lesbians has jumped by 13% by 2009 and 2010 yao researchers at the university of north carolina says researchers are buying more prepared markets that are high in sugar and calories and that is fueling an obesity epidemic. harry potter and the deathly hollows hit the billion dollar mark at the box office. took only 17 days and ties an all-time record. only nine films in history have made that much money with "avatar" topping the list at $2.8 billion. you are caught up on the day's headlines. "american morning" is back right after this. welcome back to "american morning." here is what's new this morning. former egyptian president hosni mubarak heading to trial on charges of human rights abuse. the trial was recently moved to a police academy in cairo for security reasons. the 83-year-old ousted leader could face the death sentence if convicted. mubarak as you know was thrown out of office back in january after three weeks of protests, more than 800 people were killed during that uprising. boy, i remember this day four years ago, so clearly. >> that's right. >> the i-35 west bridge over the mississippi river in minneapolis suddenly collapsed, killed 13 people, injured 145. remember the cars precariously hanging there, the city is holding a memorial this afternoon to remember and honor the victims of the disaster. officials will dedicate a remembrance garden which includes 13 pillars each etched with the name of a person who died in the collapse. it was everybody's fear that kind of thing happens. >> we scoured the country looking for bridges of the same type and same sort of pedigree to make sure they needed to be fixed, they would be? >> doesn't it make you wonder how much fixin' has been done across the country. >> how much patching instead of fixing. >> i go under bridges that look like things are falling down, does that mean anything there's a big chunk of concrete fell down. >> as we approach ten years since the 9/11 attacks, former president bush is breaking his silence on the criticism he faced. the president was sitting in a florida class room when he chief of staff whispered the twin towers were under attack. the president appeared stone faced. in an interview with the national geographic channel the former president says he chose not to leave the classroom immediately because he wanted to project a sense of calm in front of the children and in front of the world. >> no way you can't now that you know what it was, can't say he certainly something changed in his demeanor. he looked serious, he looked very concerned. >> want him to do, jump up and scream. >> we start digging too deep. >> our opinion comes down along partisan lines as usual from the home front to the front lines in afghanistan, we have followed one man's dramatic transformation from recruit to soldier. >> will mcclain's incredible journey to become a combat engineer began nearly two years ago. jason carroll has been with him every step of the way and here with us now. tell us the story. >> it's been incredible to watch this guy. we were talking about this briefly, it's literally been watching him grow up in front of our eyes. he's no longer a teenager, now 20 years old, will mcclain is also no longer the recruit. he's a soldier fighting the war in afghanistan. in an area where the pressure is on to eliminate the taliban. >> reporter: we first met will mcclain when he was an 18-year-old high school student desperate to escape his small town, rose month, california. >> glad to be getting out of this little town because it gets old. there's a lot of things you will miss. >> reporter: that was nearly two years ago. since then, we've watched mcclain's dramatic physical transformation. >> following him from recruit. >> yes, drill sergeant. >> reporter: through basic training. >> let's go. >> i hate this. >> reporter: to soldier. how much more weight have you lost? looks like you've lost more weight? >> about 170, 175. >> down another 15 from when i was at the states. >> reporter: mcclain is a combat engineer at forward operating base in zabl, afghanistan. it's his first deployment. his first time in a war zone. we caught up with him minutes after returning from a 40-hour mission. >> the training is much different from the reality being here on the ground, right? >> it's a whole different story. going from training to here. >> reporter: here is a place where searchs for roadside bombs ru routinely kill and injure. mcclain and his company of combat engineers speeshlize in finding those bombs. his captain telling us on their last mission their convoy got hit by one. >> it was very serious out there. >> it was. there was several injuries. everyone was fine. everyone will fully recover. >> reporter: sergeant joseph received second degree burns on his league. is this the first time you've been hit like this. >> the first time. >> reporter: and has been a few more times for staff sergeant robert white. how many times have you been hit? >> too many. too many times to count. >> reporter: a constant threat for the combat engineers and while the bomb didn't hit mcclain's vehicle during the mission the worry is always there. how do you psychologically sort of move past that and focus on the job at hand? >> i think the big thing is you got to trust in the person beside you. like you got to know how to do your job, do it as well as you can and trust the guy next to you is going to do his. >> reporter: mcclain has come to terms with the reality of what fighting a war really means, though he has changed much over the would two years, he says even if he could, he wouldn't change anything about his decision to enlist. he has had a change of heart about rosemonth, california. >> looking back at my hometown, i was a lot more harsh towards it. >> i remember. >> than i should have been. i look back, it raised me to be what i am. >> learned a lot. will is a combat engineer. he's one of the men who go out and find those roadside bombs and the insurgents who plant them, tomorrow we'll show you what that is like when we go out with the soldiers and his company it is a dangerous job. >> let me ask you this, because there's been a lot of uncertainty in this country about whether we'll be able to pay our soldiers in the field with this debt ceiling debate. >> of course. >> and fights over the deficit and then there's this sense that most americans don't want our troops in afghanistan anymore. they're against the war there. so, is this young man aware of those things? >> they are. will and the other men are aware of this. you know, the internet is there, sporadically because of the taliban shuts down some of the cell towers in the area where he is. so they do hear about the discussions. they're still in contact with the people at home. they hear about what's happening. what it is, when they're there, they try to keep focus on the job because you have to. because it's so dangerous on the ground and these particular areas, especially the southeastern portion of the country, you have to stay focused. you put that aside, you leave that where it should be, and you focus on the job at hand. >> all right. >> so admire him. >> from an idle teenager in california to a young man in the field it's amazing. >> incredible to watch the tran formation. >> i can't wait to see the story tomorrow. >> it's 57 minutes after the hour. you're watching "american morning." ♪ ♪ ♪ ♪ introducing purina one beyond a new food for your cat or dog. personal pricing now on brakes. tell us what you want to pay. we do our best to make that work. deal! my money. my choice. my meineke. there's a deal in place to end the debt crisis. the house and senate could vote on it today. global markets are rallying, but america may not be out of the woods yet. >> 11-year-old new hampshire girl missing, her parents say the last time they saw her she was sitting in her room on her computer. the next morning she was gone. the all-out search for celine na cass ahead. a passenger jet kids off a runway, crashes through a fence and gets cut in half with 163 passengers on board. how this near disaster turned out on this "american morning." good morning. it is monday, august 1st. welcome to "american morning." >> and we start with a possible breakthrough in the debt ceiling crisis. in a few hours the house and senate are expected to vote on a plan by president obama and congressional leaders to raise america's borrowing limit in exchange for massive spending cuts. >> i want to announce that the leaders of both parties in both chambers have reached an agreement that will reduce the deficit and avoid default. the default that would have had a devastating effect on our economy. >> okay. here's a sense of what the agreement looks like. it will increase the debt ceiling by up to $2.4 trillion which is enough to get us through 2012. now the plan will include $917 billion in immediate spending cuts and it preserves the republicans' bottom line of no tax increases. it also requires a new bipartisan congressional committee to recommend additional cuts by the year's end and if they don't, cuts will be imposed. in announcing the plan the president made clear that compromise is far from perfect. >> now, is this the deal i would have preferred? no. this compromise does make a serious down payment on the deficit reduction we need and gives each party a strong incentive to get a balanced plan done before the end of the year. >> but reaching a deal is only half the battle. congressional leaders, they still have to sell it to members in the house, minority leader nancy pelosi saying she needs to see the final product in writing before she can decide if she supports it. republican senator mike lee threatening to filibuster today's vote. >> senator, what do you think? are you going to vote in favor of this agreement? >> you know, i haven't seen the legislation yet. i haven't had an opportunity to read it yet. based on the summary i've received so far i'm not inclined to support it. i cannot support any effort to raise the debt limit that isn't accompanied by immediate and permanent structural spending reform. >> the editorials are out this morning over all of this and they are not kind. "the new york times" says there is little to like about the tentative agreement between congressional leaders and the white house except that it happened at all. "the washington post" saying it is not a solution of which anyone involved in this heart-stopping performance ought to be proud. and "the wall street journal" says it's a victory for republicans. quote, the debt ceiling is a political hostage the gop could never afford to shoot and this deal is the best republicans could have hoped for given that limit had to be raised. is there anything for the white house to cheer about besides a deal being done at all? gene sperling joins us, the director of the national economic council and assistant to the president for economic policy. good morning, mr. sperling. >> good morning. >> not many people are doing a happy dance over this. i mean they think president obama capitulated on shared sacrifices. where's the revenue? where's the tax increases? >> look, as the president said many times, we have divided government. we had the responsibility to make sure that didn't mean dysfunctional government that ended up hurting our economy. this is a compromise. >> the only thing that democrats got out of that, mr. sperling, was that? >> no, not at all. this first of all, did do a down payment in spending cut reduction, but let's be clear. this makes sure that a good amount of that deficit reduction comes from security and defense spending, so there's more shared sacrifice in how we're cutting spending. it helps protect college scholarships for people who are on -- millions of young people on pell grants. secondly, it sets up a second round of deficit reduction, more serious deficit reduction, that this president will insist must include not only structural entitlement reform but the type of revenue reform that he's called for, that lowers tax expenditures and tax breaks, but ask those who are most -- >> let's talk about the second rounds of cuts because this special committee that's going to be formed in congress is going to decide what to cut, and if they can't reach an agreement, there's going to be punishments put into place and one is, to punish the republicans they're going to be massive cuts in defense spending, to punish the democrats, there will be cuts in medicare. i'm just thinking, if the president really wanted to raise revenue, why not put into that agreement that the punishment for republicans should be to raise taxes? >> you know, that's one of the things in an ideal world we would have done. but when you have an incentive that makes both sides have to come to the table, this president believes very strongly that the american people will side with him that the type of big deficit reduction we should do should not put all of the burden on seniors or students or working families as some of the republican plans would like to do, but does require shared sacrifice and that means tax reform that asks the corporate tax expenditures, those most well off to be part of the solution and this president will insist on that. he did not give up anything in that goal of shared sacrifice in this package and, in fact, he will insist, he will insist that it reflects the type of shared sacrifice he wants and remember, this president also has the veto pen to ensure that the tax cuts or the most well off are not extended if we do not get the type of tax reform that is fair to the middle class and doesn't let those who are most well off and well connected off the hook. >> i'm sure many americans hope he uses that veto pen in that regard, as many progressives. i want to read you something written in "the new york times" this morning because columnist paul drugman came out -- krugman came out swinging. he said quote -- well, that's wrong and wrong and then i think wrong. first of all, the tax cut deal in december actually for progressives extended all middle class and lower-income tax cuts that are helping millions and millions of hard-pressed families make it through in this economy and got a payroll tax cut. it was a compromise in divided government. let's remember this president stood firm and said we are not going to allow a situation where anyone uses the default of our country as a way of getting their way on the budget. and they said that no, we could only extend the debt limit for five, six months so we're going through this entire thing again in christmas. it was the president who stood firm, who didn't blink on that, and in the end we have a deal that takes that threat of default off of our political system, off of our economy, into 2013, that was very important for this economy, for this president and us governing in a sound way as a people. >> well, it still has to go through both houses of congress and be signed into law by the president, something that many in washington are hoping happens later today. mr. sperling, thank you so much for joining us this morning. we appreciate it. >> thank you. all right. here's what happens now. democratic leaders in the senate hope to begin debating this debt deal by early this afternoon and vote later in the afternoon. republican, who was on the conference call with speaker boehner, says the house will try to vote today as well. joining us from washington now is athena jones. what is likely to happen this afternoon on the hill and are we likely to see resolution before we go to sleep tonight? >> well, that's certainly everyone's hope here, ali. it's anyone's guess what will actually happen. as you said, the plan is for the senate to go first and the thinking is that there will be beginning debate around noon, maybe until 2:00, vote some time in the late afternoon and send that over to the house. the thing is, this morning, caucus -- leaders on both sides of the hill and both parties will be meeting with their members, explaining what this deal is all about, maybe some cajoling going on. we know what some of the issues are on both sides already. on the democratic side we know there are people disappointed that the bill, the issue doesn't include tax increases. republican side, conservatives, the tea party members, who don't want to see the debt ceiling raised at all. we know that the leaders on both sides and both parties understand what's at stake here. it was interesting last night, you heard representative pelosi not make a commitment that her caucus would support this. that's not totally unusual. a lot of members of congress will say i want to wait and see this deal, read it, read the bill and decide how i'm going to vote. i spoke with a republican who was on that conference call with speaker boehner last night, when he laid out the details for his caucus and this congressman told me that while he's -- believes this is going to go forward he still wants to read it before he makes his decision, ali. >> thanks very much. we'll be staying with this story, obviously, and your reporting on it all morning. in a little more than 30 minutes from now we'll get both party's take on the debt deal when we talk to democratic senator dick durbin and republican senator john mccain. >> no sign of 11-year-old celina cass. police say the new hampshire girl was last seen in her room at her computer last monday night. her parents say when they went to wake her up the next morning she was gone. federal, state and local investigators spent the weekend conducting searchs by air, land and water. the girl's father making this plea yesterday for his daughter to come home. >> we wonder where my daughter is and we're hoping the best for her safety. i'd appreciate if we get her back very soon. if she hear mess now, tell her daddy's okay now, i'm getting much better and i'm recovering from the hospital, so whenever you're ready to come home, celina, daddy will be here for you. >> it's not clear why se celina's father was hospitalized. norway terror suspect anders breivik reportedly purchased bomb making materials and other equipment for last week's attacks on ebay. according to the sunday telegraph he used the site to buy sulfur powder and a drill press device. as for the suspect's mental state the head of a medical panel believes breivik is in control of his actions and not insane. more reports of gunfire in hamas, syria, following a bloody weekend. government tanks rolled into the city yesterday killing at least 71 people and hurting more than 100 others. president obama describing the attacks as horrifying. there were a few broken bones and bruises but no fatalities after this caribbean airlines jet slid off a runway and crashed saturday morning in georgetown, guiana. the boeing 737 split in half basically. >> unbelievable. >> after crashing through a fence in rainy weather. still to come this morning, a big announcement from europe's largest bank this morning could affect your local banking branch. we'll tell you more coming up. >> dangerous temperatures in the midwest heat advisories heat warnings are now in effect. any relief in sight? we'll check with rob marciano next. >> the state that just made it illegal for teachers and students to be facebook friends. you are watching "american morning." it's 11 minutes past the hour. ♪ let me entertain you ♪ let me make you smile ♪ let me do a few tricks ♪ some old and then some new tricks ♪ ♪ i'm very versatile ♪ so let me entertain you ♪ and we'll have a real good time ♪ [ male announcer ] with beats audio and flash, you can experience richer music and download movies straight to the new hp touchpad with webos. handle more than 165 billion letters and packages a year. that's about 34 million pounds of mail every day. ever wonder what this costs you as a taxpayer? millions? tens of millions? hundreds of millions? not a single cent. the united states postal service doesn't run on your tax dollars. it's funded solely by stamps and postage. brought to you by the men and women of the american postal worker's union. vietnam, 1967. i got mine in iraq, 2003. u.s.a.a. auto insurance is often handed down from generation to generation, because it offers a superior level of protection and because u.s.a.a.'s commitment to serve the military, veterans, and their families is without equal. begin your legacy. get an auto insurance quote. u.s.a.a. we know what it means to serve. 15 minutes after the hour. let's go to rob marciano. >> slowly. >> it's all working slowly for me today, let me tell you. i'm exhausted with the debt stuff. tell me something, anything rob, don't say the words debt or ceiling. >> okay. we are going to -- >> i don't want to hear about clouds having a low ceiling, any of that stuff. >> we'll top out the temperatures and keep them below the 120 degree mark, how does that sound? august 1st, lazy days of august, here we go. july a record setter for many parts of the country. don't have to tell you that, it was hot, especially the last week of it. d.c., where it's pretty hot right now, aside from the weather, 25 days of 90 plus in july. that made that a recordbreaker. dallas seeing 30 days in a row and counting of 100 degrees plus. that's where the heat is going to be today or centered. florida, the northeast eventually, and the midwest, seeing thunderstorms. let's take a look at some of the thunderstorms rolling through parts of western minnesota, wampadan and fargo, heavy thunderstorms rolling to the south and east. thunderstorm watch in effect there until noon local time. these are the areas we think will see delays. in the afternoon and evening, a little front coming through the northeast. d.c., new york metros, philly, delays late in the day. san francisco, early in the day, some low clouds and fog there. and here's your heat warnings for, yes, dallas, oklahoma city, up through wit cha ta, heat indices over 110 today, actual temperatures 109 in dallas, actual temperatures tomorrow 108. will continue it looks like through the middle part of the week. other big story is this. tropical action just east of the winward islands and the caribbean. this is heading towards the northern caribbean. likely will be a tropical depression or tropical storm. we said that yesterday. they got another aircraft rolling in there today. if it becomes a tropical storm looks healthier this morning on the satellite. its name would be emily and our initial computer models are showing some tracks through the northern caribbean and potentially towards the u.s. we'll be watching emily very carefully. i didn't say ceiling i don't think. >> you didn't say rain deficit either which was good. >> nice, carol. >> thank you, rob. still to come on "american morning," our question of the day, it's pegged off the debt ceiling agreement. we want to know who won last night. wall street, main street or was it someone else? send us an e-mail, tweet, tell us on facebook. we'll read your comments throughout the morning. [ jasmine ] i want to be a pediatrician so i want to major in biology. miss gopie is the best teacher i ever had. she's amazing, i love her. [ jade ] i'm teaching jasmine ap biology. i knew she had the talent... i always pushed her. [ jasmine ] her class you literally have to think, like it takes so long to do her homework. [ jade ] she's gained the confidence that she can achieve anything. [ jasmine ] i'm going to be a pediatrician... and i'm going to make this dream come true. a 100 percent. ♪ 21 minutes after the hour. minding your business, a sigh of relief, that's the line on wall street today. investors feeling bolstered now that u.s. lawmakers have reached a deal to raise the nation's debt ceiling. u.s. stock futures are trading higher on that news and world markets made gains overnight. but investors remain vigilant as congress needs to pass this deal officially. the dow lost more than 4% last week as washington struggled with these debt talks and that closed out the worst month for blue chip stocks since august of last year. gold prices are retreating overnight on news out of washington, gold futures dropped about 1% in overseas trading following a record high on friday of $1634 an ounce when investors rushed in to the precious metal over uncertainty on the debt deal. lsbc announced it is slashing 5,000 jobs in the u.s. and abroad. the company says about 25,000 more jobs will be cut over the next two years. the bank also saying it sold 195 of its u.s. banking branches to first niagara as part of its restructuring plan. 107 s&p 500 companies will report their quarterly earnings this week. allstate out saying its profits were affected by $2.3 billion in catastrophe losses last quarter, that's a record for that company. earlier this morning insurance company humana announced its earnings beat wall street expectations. on investor' minds this week, the monthly jobs report. analysts surveyed by briefing.com are forecasting only 78,000 jobs were created in july, that would be more than last month. wall street got a shock when the government announced only 18,000 new jobs were added in june. that is way below what we were expecting. for the latest news about your money check out the new cnnmoney.com. "american morning" back right after this break. every day, all around the world, energy is being produced to power our lives. while energy developement comes with some risk, north america's natural gas producers are committed to safely and responsibly providing decades of cleaner burning energy for our country, drilling thousands of feet below fresh water sources within self contained well systems and using state of the art monitoring technologies, rigorous practices help ensure our operations are safe and clean for our communities and the environment we are america's natural gas. and clean for our communities and the environment it's true. you never forget your first subaru. but i did. they said i couldn't fight above my weight class. but i did. they said i couldn't get elected to congress. but i did. ♪ sometimes when we touch ha ha! millions of hits! [ male announcer ] flick, stack, and move between active apps seamlessly. only on the new hp touchpad with webos. impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. just one day before the government no longer has enough cash to pay its bills, president obama, congressional leaders striking a deal to raise the nation's debt limit and cut the nation's spending. though both the senate and the house still have to approve this plan. joining me now, jay powell, a former treasury undersecretary under president george h.w. bush and visiting scholar at the bipartisan policy center. welcome to the program. let me ask you first, jay, you think this deal is enough to avoid a downgrade in the near term for the big rating agencies? >> well, the one that's at issue is really standard & poor's and they haven't been clear about that. i suspect that standard & poor's will wait to see the outcome of the congressional committee that's been formed before they make their final decision and that's certainly what i think they ought to do. >> the congressional committee you're talking about the second part, six democrats, six republicans, the committee will decide how to cut $1.5 trillion, if they don't do it, the deal on the table, there would be big cuts to force them to do that, punishments to make sure they can get that done. explain that to us. do you think that's a good idea? >> i would say in a way they've made the committee too big to fail. a guarantee of $1.2 trillion in cuts if the committee does fail and half of that will fall on defense and half of it will fall on medicare providers. so that's meant to force the republicans and democrats to reach some kind of agreement to get at least $1.2 trillion in savings. it seems likely that will happen. in that narrow sense it looks like it could be an effective trigger. >> a lot of people pointing out tax hikes wasn't one of those things that would have maybe been a sign the president and white house had a little more power in the negotiations. who do you think won here? were there any winners or did everybody give up enough? >> well, in a way the country won because we are not going to default if this passes both the house and senate today or before tomorrow. in a way nobody won because this is not the grand bargain that could have happened on several occasions in the last couple of years. that will still have to happen. this doesn't -- this neither raises taxes nor address entitlements until the second step so i think we can breathe a sigh of relief but cannot feel any satisfaction from this deal. >> we have gone through so much to get this done, jay. the country watching all of this, and i think it's important to remind people that a year from now, the national debt, will be bigger and two years from now the national debt will be bigger, right? we're talking about slowly bending the curve, but we are still a country that is living beyond its means? >> it's a start and a big part -- i'm going to look at it constructively. a big part the public is focused on not just the need but the difficulty and important choices that have to be made. and so, you know, one hopes that the 2012 election will be focused much on this and we'll return to this issue in a big way and make another big step toward completing the job after the election. >> let me ask you about some of the technical aspects of this. many people have told us we had until maybe july 22nd to get legislation written so that there wouldn't be disruptions in the first week of august. do you think there's enough time to avoid some disruptions from what treasury has to do? treasury will have to issue a bunch of debt as well now that it's going to have more borrowing, going to be important to see what the rest of the world thinks about that. >> yes. assuming that the plan is approve by the house and senate before tomorrow night, then there won't be any significant disruptions and i think the market obviously reflects a great sigh of relief and belief that is the case. july 22 date was really the date that there had to be a verbal agreement if it was going to be a big plan because it would have taken ten days to get it documented and all that. >> one thing about jobs, a lot keep asking me, what does this mean about jobs in the near term? we need jobs. does this help grow jobs? this isn't really a jobs initiative. this is a debt initiative and longer term, too much debt kills job. in the near term cutting government spending, that hurts too. >> and i think you put your finger on it. this is the most important economic issue of our era. a nonoptional fiscal consolidation we have to do. the economy is growing way below trend and we don't want to execute the spending cuts which will be painful and which will not immediately result in job growth but the opposite, we don't want to do that in a way that depresses growth for a long period of time. this plan appropriately pushes out many of the cuts to later years, but we've got to do two things at once and it's not going to be easy. >> i think that's the key. it's not going to be easy. we've been through so much turmoil to get where we are, but it's the beginning. thanks so much. nice to see you this morning. >> thank you. senate majority whip dick durbin from illinois standing by to talk with my colleague carol costello in just a moment. john mccain talks with ali velshi at 7:40 eastern time. time for top stories. congressional leaders are trying to sell the debt agreement announced by president obama last night. the house and senate are expected to vote on the deal and while it's expected to pass it is not a done deal until it does. the fbi is offering a $25,000 reward to anyone with information about a missing new hampshire girl. search teams took to the air and water over the weekend looking for 11-year-old celina cass. her parents say she was gone when they went to her room to wake her up last tuesday morning. more gunfire reported this morning in syria following a bloody weekend. you can see some of the video here. government tanks barreled through the city yesterday killing at least 71 people and injuring more than 100 others. president obama describing the attacks as horrifying. the president and congress have an agreement in place to raise the nation's debt limit and head off default. a vote is expected later today in both the house and senate but with no tax increases in the deal, can democrats get on board? our next guest knows about than most the majority whip and counts the vote in the senate, democrat dick durbin of illinois joining us live from capitol hill this morning. good morning, senator. >> good morning. >> so, besides the country not slipping into default what did democrats get out of this deal? >> i think we not only avoids what could have been an economic disaster in the midst of this recovery and really raised interest rates and killed more jobs but we also avoided the scenario suggested by house speaker boehner that we do this all over again in four or five months. so we have a long-term agreement and that is a positive thingp. within it are budget cuts, spending cuts, that will reduce the deficit around $2 trillion over the next several years in terms of the actions we take, and we make a point of protecting those programs that are serving the poor and struggling in our economy. >> senator, what about shared sacrifices? nobody's talking about tax hikes in this deal. like the first round of cuts will occur right now. the second round of cuts will come when this congressional committee, this super congress is set up. there will be an equal number of democrats and republicans on board. and do you think any voter really thinks that those, that group of lawmakers will be able to come to a consensus on anything involving tax hikes? >> i certainly hope that we can come to a consensus through this joint committee much the same we did with the bowles simpson commission and with the gang of six that basically says put everything on the table. understand that even if we follow this proposal -- >> senator, those things went nowhere. >> well they went nowhere, that's true. we're going to have to decide as a nation whether we're going somewhere, whether there is a bipartisan commitment to reducing this debt. $2 trillion is good, but $4 trillion was really our goal and it still should be our goal. that means putting everything on the table. i hope this joint committee will move us in that direction, some of the threats the so-called trigger may move them to that conclusion. >> let's talk about those triggers because there are triggers in place if this congressional committee can't come to some sort of compromise. the way to punish the republicans is cuts in defense, the way to punish democrats cuts in medicare. again, nothing about taxes. wouldn't it be better to include in those punishments for republicans, for example, tax hikes? >> let me just clarify one thing that your earlier visitor said and that you said. the alternative is not defense cuts and medicare. the alternative is defense cuts and cuts in nondefense spending including medicare, but we say on medicare, any cuts would have to be limited to the providers, not to the beneficiaries. still something we want to avoid. i think you're right. i think the bottom line, we need to bring new revenue into this conversation and we need to put the entitlements on the table. untouched in five or six years. medicare is going to run out of money. we can't let that happen. >> the other question i think voters v we're looking at this super congress and these punishments of this group of congressmen can't come to any agreement, many voters would look at that and say what? they need punishments? can't come to an agreement on their own. that sort of says to us, that this congress can't govern. >> well, i can tell you that we're lucky to have come up with this agreement within 48 hours of this deadline. i hope we can pass it in the house and senate in the next day or two and avert the first default on our national debt in our history. it's an indication when a divided congress is truly divided and not willing to compromise, the extremes that can be reached. i hope we can have an emerging national consensus. the debt is a problem, but getting america back to work is the first challenge. i'm not sure that this approach of cutting spending as you mentioned earlier with your last guest, is the best way to put people back to work. but we have to deal with it because of the economic realities in the house of representatives. >> so make voters feel better about congress because approval ratings for congress is what? i've heard one study say it's like 6 %. say something to voters that proves that lawmakers can, indeed, govern and get us out of this economic mess we're in? >> well, i would just say the 6% probably reflects our close friends, relatives and family, but i would go beyond that and say at least we averted this disaster and we did it with a bipartisan compromise. the president showed real leadership on this working with democrats and republicans to bring us to this point. we've got to do more. the american people expect more of us, that we work together to get the economy back on its feet and deal with the deficit in a timely, but a meaningful way. >> and just a last question because there are a lot of editorials out this morning including one in "the new york times" that says democrats are continually caving to a tiny portion of the republican party and that would be the tea party. and the democrats just don't show much spine. they just capitulate and why is that? >> well, because the alternative was to let the economy crater. that's what the tea party said they were willing to accept. you have some of these republican presidential candidates praying for a default. let me tell you that would have been totally irresponsible. >> getting into extortion? >> of course it is. it's political extortion. and if you say that you're prepared to call somebody's bluff using other people's chips, that's what we're down to. a lot of innocent people would have suffered if we would, in fact, have gone into this default. we avoided that and that was something we had to do. >> senator durbin, many thanks. i know you have a busy day ahead. we'll let you go. >> thank you. still to come this morning, arizona senator john mccain's been very vocal about his frustrations with the debt deal. we'll ask him about his views on what's going on in washington. he joins us live next. ooo whatcha got there? uh oh, sesame stir fry from lucky dynasty. oh, me too! but mine's lean cuisine, so no preservatives. [ female announcer ] lean cuisine has 90 dishes with no preservatives and quality ingredients like farm-picked broccoli and tender white meat chicken. lean cuisine. two american hikers who have been jailed in iran on espionage charges for two years now, they could be coming home soon. the verdict in a sentence are expected this week in the case against shane bauer and josh fattal. their attorney says he hopes they will be sentenced to time served and sent home as a goodwill gesture at the start of ramadan. police in mexico arresting the leader of a drug cartel who ordered a hit on u.s. consulate worker. jose hernandez, known as el diego confessed to ordering the murders of 1500. authorities say he ordered an attack on a pregnant employee and her husband last year. the suspected leader of the la linea gang. a second chance for plaxico burress, signed a one year, $3 million contract with the new york jets. he's hoping to revive his career with his new nfl home after being released from prison. burris spent 20 months in jail on a gun charge he shot himself in the leg in a new york night club in 2008. a vote on a debt deal is expected to happen this afternoon. the plan includes raising the country's borrowing limit in exchange for spending cuts. moments ago we heard from senator dick dushen. now across the island, john mccain joins us live from the rotunda. did you and senator durbin swap shirts? you're wearing the same colored shirts? >> usually we do everything exactly the same throughout our careers. >> senator mccain, we've been watching you carefully over the last several weeks and months in this debate. i want to play an exchange you're familiar with with senator durbin over the weekend. >> the senator from illinois believed that we are close to an agreement here. >> i hope so. >> and does senator from illinois agree that most likely that agreement will not have an increase in taxes associated with it, at least in the short term? >> i hope not. >> you hope so. >> i hope there's revenue included in any agreement. >> first of all, that exchange is characterized and unique by virtue of the fact you were speaking to each other like gentlemen. you're veterans of this thing. i couldn't tell over the course of the last few days who were you frustrated with? sounds like you were more frustrated by the very fiscal conservative side of the republican party and the tea party, and you actually called them a few names earlier. i want to get a sense of who you think was intrajent in this discussion? >> i think both sides were intransgent but i was also of the firm belief that proposal a couple weeks ago that senator mcconnell brought out as you know, the, quote, last option, you look at this agreement that's pretty much along those lines. look, i think that one of the things that's been kind of overblown is that i read from a "wall street journal" editorial, "wall street journal" is not the most left leaning editorial in america, and it said, referred to hobbits in that they're not real characters, meaning that it's not real to think you're going to pass a balanced budget amendment through the senate of the united states and get 20 democrat votes. and you're not. i have supported a balanced budget and voted for it 13 times and i'm an advocate of it. but to demand something that is not possible, as part of this deal, frankly, was in other words a balanced budget amendment passed, not voted on. i'm glad we're going to vote on the balanced budget amendment. i hope we vote on it every day until it is passed. it's the only way we have to conclude this effort to get our spending under control. >> but you are fully aware that it's -- there's no chance of that happening under a democratic controlled senate with a democratic president? >> no. and we owe on one third of the government. this agreement we've reached is very -- pretty much a success, but it's also compromise, but the fact we're not going to hike taxes, the fact that cuts in spending are going to be larger than the increase in the spending that we will not be -- we will have a committee that i think will be credible, but i have it to tell you, i'm worried about the size of defense cuts that may be contemplated. but that doesn't mean i'm, therefore, rejecting the agreement. >> some of your republican colleagues, though, who do have certain problems as you have with defense, but certain problems with other areas who don't think things have gone far enough have said they won't support this. at some point, you are all elected to go there and come up with tough compromises. this was certainly about the toughest compromise that you guys have had to deal with in the last year or so. what do you say to those members? >> well, i say to them, if they can come up with a viable proposal that will get a majority vote in both houses and signed by the president i would be more than happy to examine it and look at what the markets were telling us all last week. it wasn't a matter of how we pay our debts or -- it was a matter of the world's financial markets basically cratering. what they should worry about more than anything else, is the view in which the american people hold us and their low opinion of us because we are failing to do what they think is our job and by the way, they're right. >> senator, i know you follow the economy very closely. you know, you saw those gdp numbers on friday that indicate slow growth in the second quarter and extremely dangerously slow growth in the first three months of this year. are you worried all of this talk about pullback and spending, even though this bill doesn't do it immediately, is dangerous and could put us on the path to another recession? >> no, i think we've proven with the so-called stimulus that the keynesian approach has been an abject failure and they said that unemployment would be a maximum of 8% after we passed it. it's clear that keeping -- pumping money into the system which then increases the debt and deficit is not the way to go. but it is jobs. and so we need to cut the corporate tax rate. we need to -- i would like to see a two-year more morium except for emergency on government regulations. we've got to give investors the confidence they will have a stable environment in which to invest and create jobs. >> senator mccain, good to have you on the show. thank you for being with us. >> thanks for having me on. >> give senator durbin his shirt back. >> wearing the same colored shirt and tie today. >> i'm telling you. they're not on tv at the same time so you can't tell. senator john mccain of arizona. it's a unique colored shirt wouldn't you say in to see two guys in the same shirt, on the same day. >> i like what he says, unique shirts because ali wears a unique shirt nearly every day. >> but you don't wear the same shirt i'm wearing, that's the thing. anyway, good discussions with them. >> our question of the day pegged off the debt ceiling agreement. who won last night, wall street, main street, someone else? >> oh, yeah. we want you to send us an e-mail, tweet, tell us on facebook. we'll read your comments throughout the morning. didn't really know what i wanted to do. didn't like high school. and then i met my teacher, mr. mccooey, and that click happened. i would never have even thought about going into the engineering field if it wasn't for these ap classes, these teachers and them helping me realize that this is a major calling in my life. ♪ i didn't always know that i would like math, but now i think it'll change my life. a lot going on this morning. here's what you need to know to start your day. today both the house and the senate expected to vote on the breakthrough debt ceiling deal. it includes about $1 trillion in spending cuts over ten years. today's expected votes come just one day before the government no longer has enough money to pay all of its bills. more gunfire being reported this morning in hama, syria, following a violent weekend. government tanks barreling through the city yesterday, killing at least 71 people and injuring more than 100 others. the espionage trial for two jailed u.s. hikers in iran has ended. a verdict and sentence are expected at any time this week for shane bauer and josh fattal. local and state investigators stepping up the search for 11-year-old celina cass. the new hampshire girl has been policing since last tuesday morning when her parents said they went to her room to wake her up and she was gone. missouri introduced a new law that says teacher and students cannot be friends on facebook. the law prohibits private communication between teachers and students on any social network site. it is meant to protect children from sexual misconduct by teachers. tennis star serena williams making a comeback, won the title at the bank of the west classic finalist in stanford on sunday. the 13-time major champ suffered a number of health scares this year but looking good now. >> "american morning" back in 60 seconds. the u.s. department of health will require health insurance plans to provide birth control for free. that means women won't have to pay any co-pays at all for birth control. this is what the government is mandating today. >> part of the decision by the government that requires insurers to cover preventive health even more generally. elizabeth cohen joins us now. any time contraceptives come up, they are controversial. >> generally, people have reacted positively. people say, gee, it's about time. there ought to be no co-pays for came contraception. u.s. council of bishops and far right groups have said they're not happy about it. >> so, why was the decision made? >> you know, the decision was made because about 40% of all pregnancies in this country are unintended, carol. when they're not intended, they tend to get -- the moms tend to get less prenatal care, the babies tend to not do as well when they're born. that's why wha lot of doctors a others got together and said obviously we want births in this country to be wanted. when the babies are not wanted they don't do as well and the mothers don't do as well. there's a financial part of it that they say is not part of this decision, but it is something that's sort of an interesting point, which is that half of all pregnancies in this country that are paid for by the government -- for example, by medicaid, are not intended. half of all pregnants. as you can imagine, it's a lot cheaper to give someone birth control pills than to pay for a birth and to raise that child. >> we're saying it's part of a larger effort to pay for preventive care. what sorts of other things will be covered? >> several other things will be covered. for example, screening for diabetes would be covered for free. screening for sexually transmitted diseases would be free. a lot of moms will smile when i say this. also rental of equipment for breast pumps would also be covered under this. >> wow, really? >> yeah. that's a lot. as someone who rented them four times, it's quite a bit. >> elizabeth cohen, thanks so much, elizabeth. >> thanks. >> our top story for today, you know what it is, expected to agree on a debt ceiling compromise today. >> we want to know, debt deal, who won last night? wall street, main street or someone else? it's our question of the day. from timothy from our facebook page. he says the rich won. they don't have to pick up any of the tab. what the republicans have forgotten is that tax breaks and loopholes are a form of spending and they should have cut some of that spending as well. >> very astute. they are the same idea. it's money that comes to the government. >> he needs to go to washington now. >> and on twitter, the optimist in me says main street wins. the pessimist in me says wall street wins. the realist in me says nobody wins. >> james says wall street and republicans. however, it shows democrats are the real supporters of the american people. they could have continued this fight to get tax increases but instead they understood that this deal had to get done. hence, they caved and sat said let's just get this done. >> that's interesting. this person is writing that they caved but isn't mad at them saying they caved to get the deal. that's interesting. carol? >> i don't know. i'm mulling that over. i'm thinking what senator durbin told us. he said, yeah, democrats caved but that was to keep the country from slipping into default. someone had to cave. >> very interested in your comments this morning. send us an e-mail, tweet or tell us on facebook. top stories are coming up next at the top of the hour. e. so to save some money, i found one that uses robots instead of real people. 'cuz robots work for free. robot 1:good morning... robot 1:...female child. sfx: modem dial-up noise woman: flaws? yeah, um, maybe. anncr: there's an easier way to save. anncr: get online. go to geico.com. get a quote. 15 minutes could save you 15% or more on car insurance. that's how it is with alzheimer's disease. she needs help from me. and her medication. the exelon patch -- it releases medication continuously for twenty-four hours. she uses one exelon patch daily for the treatment of mild to moderate alzheimer's symptoms. [ female announcer ] it cannot change the course of the disease. hospitalization and rarely death have been reported in patients who wore more than one patch at a time. the most common side effects of exelon patch are nausea, vomiting, and diarrhea. the likelihood and severity of these side effects may increase as the dose increases. patients may experience loss of appetite or weight. patients who weigh less than 110 pounds may experience more side effects. people at risk for stomach ulcers who take certain other medicines should talk to their doctor because serious stomach problems such as bleeding may worsen. people with certain heart conditions may experience slow heart rate. [ woman ] whenever i needed her, she was there for me. now i'm here for her. [ female announcer ] ask the doctor about your loved one trying the exelon patch. visit exelonpatch.com to learn more. a last-minute debt deal. good morning to you. i'm karlt costello. scheduled to take place on a deal that will keep america from defaulting. will both parties sign off on the deal? where is celina cass? she was last seen in her room at her computer last week, then her parents say she mysteriously vanished. jailed on espionage, could be coming home soon. their trial is over and the verdict could come at any time on this "american morning." good morning to you. it is monday, august 1st. welcome to "american morning." after weeks of wrangling a deal to pull the u.s. back from a brink from a financial catastrophe, last night, president obama announced that after intense negotiations, an agreement to raise the debt ceiling in exchange for massive spending cuts. >> here is more of what the deal looks like, increases the debt ceiling up to $2.4 trillion, enough to get us through 2012. it also includes $917 billion in immediate spending cuts. >> and reserves the republicans bottom line, no tax increases. it also has a new bipartisan committee to recommend additional cuts by the end of the deal. the president made clear it was the growing outrage in this country that finally moved washington. >> ultimately, the leaders of both parties have found their way toward compromise. and i want to thank them for that. most of all, i want to thank the american people. it's been your voices, your letters, your e-mails, your tweets, your phone calls that have compelled washington to act in the final days. and the american people's voice is a very powerful thing. >> selling it to lawmakers before tomorrow's deadline. there are, of course, many things in this deal that many people are not happy about. yesterday, republican senator mike lee told our wolf blitzer he's threatening to filibuster today's vote. >> haven't seen the legislation yet. i haven't had an opportunity to read it yet. based on the summary i've seen so far, i'm not incline d to support it. what i've said since before i was even sworn into office, wolf, is that i cannot support any effort to raise the debt limit that isn't accompanied by immediate and permanent structural spending reform. >> we hear a lot about process and washington, the way washington works. there's no doubt how this plays out will affect how you live your life. when you're talking about this committee that goes forward, we're talking about a potential mortgage interest deduction. who knows what kind of things could eventually be in this deficit cutting that will affect how you live your life. >> but some positives here. because we're not slipping into default, interest rates won't go up on things like mortgages and your 401(k). >> that's right. >> they may still go up anyway but not because of this. >> from capitol hill joining us now is athena jones. good morning. >> reporter: good morning. a plan is to have the vote from both houses on this bill. it's anyone's guess to how it will play out. that sound bite we heard from senator lee shows that there are still hurdles to jump over. people on either side will have problems with this bill. on the democratic side they wanted to see tax increases immediately. they're disappointed that those are not part of this bill. on the republican side, members of the tea party who don't want to see the debt ceiling raised at all. one of the first things we're going to see this morning is that folks on both sides of the aisle, both parties, will be meeting with their members to further explain this deal, to do some ka jocajoling, most likely. by midday, around noon or 2:00 pm, they'll begin deby the on the bill, hoping to vote in the late afternoon. if it passes there, it will go on in the house. it's certainly not a done deal yet. >> what is the bottom line deadline? when do they have to wrap this whole thing up and send it to the president? >> reporter: we know that tuesday, tomorrow, is the big day. the hope is that this gets done quickly. of course, if the vote is late at night, it isn't as though the president is going to say, no, i'm going to sleep. certainly the white house is standing by and will be ready to act as soon as that bill comes to their desk. the real question is you have a lot of members of congress who have said they don't want to commit yet. they want to look at the deal, read the deal. this is not unusual. i had a member tell me late last night after that phone call that speaker boehner had with republicans, explaining the deal. he said he thinks it's going to get passed but wants to read it first. >> 11:59 tomorrow. athena, thanks. >> people have been asking me, what part of tuesday is the deadline? i said think about it as my birthday. it's all day. >> just so it gets done. millions of americans exhaling, all that remains is what we were just talking about. with no revenue enhancing tax increases in the deal, can democrats get on board? early on "american morning," senator majority whip dick durbin told me he believes they will. even though he admitted democrats caved to the demands of the tea party. >> the alternative was to let the economy crater. that's what the tea party said they were willing to accept. you have some of these republican presidential candidates praying for a default. let me tell you, that would have been totally irresponsible. "the new york times" and other papers wouldn't like to see that either. of course it is. it's political extortion. if you say that you're prepared to call somebody's bluff using other people's chips, that's what we're down to. a lot of innocent people would have suffered if we would have gone into this default. we avoided that and that was something that we had to do. >> we also heard from republican senator john mccain from arizona a few minutes ago. here are his thoughts on the debt deal. >> i think that this agreement we reached is very -- is pretty much a success. but it's also compromise. but the fact we're not going to hike taxes, the fact that cuts in spending will be larger than the increase in the spending that we will not be -- we will have a committee that i think will be credible. but i have to tell you, i am worried about the size of defense cuts that may be contemplated. >> i know we're talking about serious stuff, but did you notice -- >> we're sleep deprived. >> right, so we think it's funny but senators durbin and mccain have the same shirt on. >> it's not just the same -- it's not like a white shirt or blue shirt. it's like seafoam or something. it's fascinating that they both had the same shirt and they decided to pick it up this morning or they've been so busy this is the laundry day shirt. >> just some sleep deprivation for you. we'll speak with norman ornste nichlt, american enterprise institute and stephen moore, the senior economics writer for "the wall street journal." i can't wait to hear what they think. we'll also take a look at the washington of yesterday to get a brighter idea, presidential historian doris kearns goodwin. celina cass was last seen in her room at her computer. her parents say when they went to wake her up the next morning, she was gone. searches by air, by land and water. the girl's father making this plea for his daughter to come home. >> we all wonder where my daughter is. and we're hoping the best for her safety. i would appreciate if we get her back very soon. if she hears me now, tell her daddy's okay now. i'm getting much better and i'm recovering from the hospital. so, whenever you're ready to come home, celina, daddy will be here, waiting for you. >> it's not clear why drchlt el ichi celina's father was hospitalized. the fbi is offering a reward. government attacks rolled into the city, look at this video, killing 71 people, injuring more than 100 others. president obama is calling the attacks horrifying. two american hikers jailed in iran on espionage charges for two years could be coming home soon. a verdict and sentence is expected in the case against shane bauer and josh fattal. their attorney says he is hoping they will be sentenced to time served and come home. who came out on top when it comes to the debt ceiling deal? it's seven minutes past the hour. really? 25 grams of protein. what do we have? all four of us, together? 24. he's low fat, too, and has 5 grams of sugars. i'll believe it when i--- [ both ] oooooh... what's shakin'? [ female announcer ] as you get older, protein is an important part of staying active and strong. new ensure high protein... fifty percent of your daily value of protein. low fat and five grams of sugars. see? he's a good egg. [ major nutrition ] new ensure high protein. ensure! nutrition in charge! vietnam, 1967. i got mine in iraq, 2003. u.s.a.a. auto insurance is often handed down from generation to generation, because it offers a superior level of protection and because u.s.a.a.'s commitment to serve the military, veterans, and their families is without equal. begin your legacy. get an auto insurance quote. u.s.a.a. we know what it means to serve. this could be the beginning of the end to the debt ceiling crisis. president obama also admitted the agreement is far from perfect. >> was this the deal i would have preferred? no. i believe that we could have made the tough choices required on entitlement reform and tax reform right now rather than through a special congressional committee process. but this compromise does make a serious down payment on the deficit reduction we need and gives each party a strong incentive to get a balanced plan done before the end of the year. >> joining me live from washington, norman ornstein, and stephen moore, senior economics writer for "the wall street journal" editorial page. now that you've got tax cuts in place -- tax hikes were not part of any of this and spending cuts, starting to pay down the deficit, so the job creation should come right away, right? >> well, christine, i'm a happy guy this morning, i have to say. i think this was a big deal. i think that republicans and tea party candidates were really the big winners here, especially when you consider how far the president has moved from -- remember, originally, he wanted a clean debt bill and then a tax increase. republicans, for the most part, got what they wanted. they got the trillion dollars of cuts up front. and then the promise of -- as much as a $1.5 trillion coming later. this is a victory for republicans. i'll say this, christine. and norm ornstein and i were talking about this. it will be very tough to get this through the house. >> you do? >> it's not a slam dunk to get this through the house. >> you think, norm, it will be difficult? >> a lot of selling needs to be done, especially by the leaders in the house. for boehner, this is a very different dynamic than it was when he finally limped to the finish line in getting his first package through the house that required him to hold off for a couple of days and then sell out even more. now, he has to do something that's going to be different, that's going to require almost as many democrats as republicans. >> right. >> getting those democratic votes is not going to be an easy thing to do, because, as they see it, there's nothing to jump-start the economy now, nothing on revenues at all. although, i think the president can make a case that he's in pretty good -- has some pretty good leverage down the road. and a lot of cuts in areas that they don't like. >> norm, how do you sell it to democrats then? because the monday morning quarterbacking today is that they didn't really get very much out of here. there's no tax increases. you're not going to see job creation in the near term. you're cutting billions out of the economy pretty quick and the president lost. >> i think the president has a case to make. and that case is that, first of all, none of this touches the basic benefits in the entitlement programs. secondly, there would be absolutely draconian defense cuts if there is no deal in this special commission. and, third, there's lots of openings in this commission to create the kind of deal that we have already seen in the gang of six and in the simpson bowls commission with tax reform for more revenues, something that even steven said that he would support. and, in the end, if they can't reach that kind of deal, the bush tax cuts, $3.6 trillion in tax revenue over the ten years that follow, expire before obama's term does. so, he can get those revenues and basically hold republicans to account in a way that he wasn't able to do now, where the alternative was economic collapse. >> but, stephen, all this acrimony, when you think about a committee with six republicans, six democrats, potentially trying to decide on a trillion dollars of more cuts. you know, is there a lot of faith in the system that they're going to be more grown up about it this time? >> i agree with the president on this. what he just said in that statement you just ran. which is if they can make an agreement to cut $1.5 trillion, why do they need a committee to do it? why couldn't they do it now? i'm sick of these committees and select commissions and so on. most americans view this as a gimmick. >> this one has power, doesn't it? there are triggers attached to it. >> that's right. that's why this is a bit of a victory for republicans. if they don't reach an agreement on those cuts and entitlements and the tax increases, then, christine, what you get is a trigger that automatically cuts spending. that gives republicans additional power, too. they can hold off and say, okay, we'll cut all these other programs if you don't agree to some of these long-term entitlement cuts. right now, the people who are really grousing about this idea are the liberals. i've been reading the liberal blogs this morning, saying it's a sell-out by president obama, it's the death of economics. but it's interesting. in the house what you're going to get, christine, is the far right members voting against this and then the liberals voting against it. the question is, will the middle hold? >> and that's been the story all along, hasn't it been? the two extremes of the party. norm ornstein, stephen moore, thank you so much. >> thank you. >> take a look at the washington of yesterday to get a better idea of what's going on today. presidential leadership and historian nick ragone and doris kearns goodwin join us. egypt air fire friday. shortly from take-off from cairo to saudi arabia. they all got off safely. two firefighters were treated for smoke inhalation. a few broken bones and bruises, but no fatalities, no deaths after this caribbean airlines jet slid off a runway and crashed in georgetown guyana. the boeing 737 split in half after crashing through a fence in rainy weather. >> rob marciano is in the "weather center" and tells us that we have tornado warnings in minnesota. >> severe thunderstorm watch about an hour ago. now we've got a supercell that's kind of developed to the northwest of minneapolis. not just, but it's in pope and douglas county. this cell is barreling down interstate 94 toward st. cloud. a funnel cloud was reported by storm spotters there just north of lowrie. pretty serious situation there, if you live in that part of the area, right along i-94, just be careful and certainly stay inside until further notice, until that thunderstorm warning or tornado warning subsides. thunderstorms across parts of florida as well today. and that's going to be one of the spots, along with the northeast, that will see some thunderstorms pop. meanwhile, the heat continues to bake the same spots. temperatures well up and over 100 today. 109 expected in dallas. similar numbers in oklahoma city. same thing for tomorrow. going into wednesday as well. we're 30 days and counting now. dallas has seen 100 degrees plus. i think that streak is going to continue. northeast, a little bit of a cool front later on today, causing some thunderstorms, which will delay air travel in the evening. traveling to san francisco as well, low clouds and fog in the morning could slow things down, too. this disturbance just east of martinique by about 300 miles, hurricane hunter aircraft is traveling there today. could be our next stroil stotro storm. if so, its name would be emily. we'll keep a track on that, plus a tornado warning to the west-northwest of minneapolis. >> you're a busy guy, rob marciano. we appreciate it. thank you very much. >> you bet. one man's dramatic transformation, from recruit to soldier. cnn followed him from boot camp right to his first deployment in afghanistan. it's 18 minutes past the hour. hey, the new guy is loaded with protein! really? 25 grams of protein. what do we have? all four of us, together? 24. he's low fat, too, and has 5 grams of sugars. i'll believe it when i--- [ both ] oooooh... what's shakin'? [ female announcer ] as you get older, protein is an important part of staying active and strong. new ensure high protein... fifty percent of your daily value of protein. low fat and five grams of sugars. see? he's a good egg. [ major nutrition ] new ensure high protein. ensure! nutrition in charge! aren't getting enough whole grain. but actually, it's never been easier to get the whole grain you want from your favorite big g cereals. from cheerios to lucky charms, there's whole grain in every box. make sure to look for the white check. from "i like you." "i really like you." "i love you." "i will always love you." and sometimes a gift says, "you mean more to me than anything else in the world." life insurance from new york life ensures your loved ones will always be taken care of, with 166 years of financial strength -- it's the most selfless gift you can give. new york life. the company you keep. 21 minutes after the hour. minding your business this morning, a sigh of relief. feeling bolstered now that the u.s. has decided to raise its debt ceiling. hsbc announcing it's slashing 5,000 jobs in the u.s. and abroad. about 25,000 more jobs will be cut over the next two years. the bank also saying it sold 195 of its banking branches in the united states to first niagara as part of its restructuring plan. reporting their quarterly earnings this week, allstate out with earnings already this morning, saying profits were affected by $2.3 billion in catastrophic losses last quarter. that's a record for the company. early this morning, insurance company humana announced that its earnings beat wall street expectations. also, the big monthly jobs report. analysts surveyed by briefing.com are forecasting that 78,000 jobs were created in july. last month, wall street got a shock when the government announced only 18,000 new jobs were added in june. and that was way below estimates. d to your eyes d to your eyes with transitions lenses. transitions adapt to changing light so you see your whole day comfortably and conveniently while protecting your eyes from the sun. ask your eyecare professional which transitions lenses are right for you. ask your eyecare professional for your transitions certificate of authenticity for your chance to win instant monthly prizes or our $20,000 grand prize! sure, but let me get a little information first. for broccoli, say one. for toys, say two. toys ! the system can't process your response at this time. what ? please call back between 8 and 5 central standard time. he's in control. goodbye. even kids know it's wrong to give someone the run around. at ally bank you never have to deal with an endless automated system. you can talk to a real person 24/7. it's just the right thing to do. good morning, atlanta. it's 77 right now. that sigh you can hear is jason carro carroll. >> sorry. >> that's all right. from the homefront to the front lines in afghanistan, we have followed one man's dramatic transformation from recruit to soldier. >> his name is will mclain. we have followed his jurn toy become a combat engineer. that began about two years ago. jason was with him every step of the way. what a remarkable story. you got to follow this guy. >> it's great you let me do this. follow him along. will mclain is no longer the recruit but now a soldier fighting a war in afghanistan in an area where the pressure is on to eliminate the taliban. >> that was the bike i learned to ride first. >> reporter: we first met will mclain, an 18-year-old who was ready to get out of his hometown. that was nearly two years ago. since then, we watched his dramatic physical transformation. following him from recruit -- >> pick up your bags. >> yes, drill sergeant. >> reporter: through basic training. >> let's go. >> i hate this. >> reporter: to soldier. >> how much weight have you lost? it looks like you lost more weight. >> about 175. down another 15 from when i was in the states. >> reporter: now a combat engineer at forward operating base in afghanistan. we caught up with him minutes after returning from a 40-hour mission. training is much different from the reality of being on the ground, right? >> it's a whole different story, going from training to here. >> reporter: here is where roadside bombs routinely kill and injure. mclain and his combat engineers specialize in finding those bombs. their convoy got hit by one. it was very serious out there? >> it was. several injuries. everyone was fine. everyone will fully recover. >> reporter: receiving second degree burns on his leg, sergeant herbert joseph. a few more times for staff sergeant robert white. how many times have you been hit? >> too many. too many times to count. >> reporter: it's a constant threat for these combat engineers. while the bomb didn't hit mclain's vehicle during the mission, the worry is always there. how do you psychologically move past that and focus on the job at hand? >> you have to trust in the person beside you. you have to know how to do your job, do it as well as you can and trust that the guy next to you will do his. >> reporter: he has come to terms with the reality of what fighting a war really means. though he has changed much over the two years, he says even if he could, he wouldn't change anything about his decision to enlist. but he has had a change of heart about rosemont, california. >> looking back at my hometown, i was a lot more harsh toward it than i should have been. now when i look back, they raised me to be what i am. >> reporter: grateful for that ho hometown. will is a combat engineer, one of the men that goes out and finds those roadside bombs and insurgents that plant them. we'll find out more tomorrow when we go out with his unit. >> you followed his family, too, back home in california. >> yeah. >> how do they think of this, two years later? >> his mother, in the very beginning shall was not too keen on him signing up. that's why they wanted him to wait until he was 18. it was one of those things, like any parent, they look, they watch when they can. turn away at times simply because it's too difficult. >> what a remarkable transformation by a young man. >> we're looking forward to tomorrow's installment. 30 minutes after the hour. time for this morning's headlines. both the house and senate are expected to vote a deal today. while it's expected to pass, it's not a deal till it's done. >> that's right. more reports of gunfire in hama, syria, following a bloody and violent weekend. tanks rolled into the city killing 71 people, injured more than 100 others. president obama described the attacks as horrifying. a $25,000 reward is being offered by the fbi for anyone who knows anything about a missing new hampshire girl. looking for 11-year-old celina cass. her parents say she was gone when they went to her room to wake her up last tuesday morning. a deal on the debt plan is expected at any time. look through washington at an historical lens. nick ragone joins us from our d.c. bureau and presidential historian doris kearns goodwin join us from massachusetts. thank you for joining us. doris, one of the things i'm always fascinated about when i read your work and nick's work, we live in this world when we think that everything happening to us is happening for the first time when, in fact, most of this has happened before. you look at the situation that we are in, the president finds himself in, this lack of compromise, this polarized congress, this unique or have you got examples of where this has happened in the past? >> in my lifetime, it does seem like it's the most dysfunctional congress i've seen. a sense of lack of institutional loyalty. there's name calling. there's vitreal. now if you go back to the 1850s, with abraham lincoln, you didn't have anyone hitting people over the head with canes, almost killing someone, as brooks did. but some things happened in the last 30 years. tip o'neill and reagan, able to make deals with each other. lbj, civil rights act passed in 1964. because these legislators knew each other. they played poker together. that sense of calm ramaraderie, fear, is gone right now. >> nick ragone, is this a turning point for president obama? if so, is it a good one or bad one? >> i don't know that it's a turning point. he does have other accomplishments to point to, like health care reform. doris is right. civility used to act as a lubricant to allow washington to function. americans have always enjoyed divided government from the early days since jefferson and madison. what doris talked about is true. it now seems to be dysfunctional. which is a little different. reagan and tip o'neill didn't particularly share the same philosophy, but worked together. many other examples. it seems to be a little different now. i'm not sure that that same civility is allproviding the sa lubricant to allow government to function. >> a specialist, to some degree, in abraham lincoln, he went it alone in many cases and was isolated from congress in some ways. it turned out okay for him, at least as history sees it. what's the comparison to president obama? >> one of the difficulties today is that it used to be that presidents, when they gave a speech, that the whole speech would be printed in the newspapers, like it happened with abraham lincoln, or when fdr had his radio address, 85% of the audiences would be listening to him. nowadays, even when obama tries to lead from the bully pulpit, you have pundits taking it apart before he finishes it. the next breaking crisis is on air the next day. you sort of forget what was said. our attention span is limited today because of the internet. it's hard for the president to lead in this modern world than it was, even back in the time of abe lincoln and certainly fdr. >> you write about this in your book, decisions that you focused on. in many cases, these are presidents who got fully out in front of an issue. >> right. >> you're saying president obama is a little bit different? >> it is different. there are different leadership styles. look at fdr, kennedy, reagan, they tended to get out in front of the issues a little bit more. people like eisenhower, very effective president, lyndon johnson, who doris studied closely, and president clinton, to some extent, were more about compromising and letting others around them help in that process. it's different leadership styles. at the end of the day, the presidency is still about good decisions. if you look at recent deals like clinton, that benefited him. even reagan, with compromise on social security benefited him. it hurt george h.w. bush. people saw that the renig on the no new taxes pledge. looks like he's moving to the center, bringing people together. that will be helpful here for president obama. >> we were very close to a decision. look, president obama said he wasn't going to make this decision. the whole idea of the 14th amendment last couple of weeks ago, president clinton said if he were in office, he would have raised the debt ceiling on his own. that's the kind of talk that we like to hear from presidents. president clinton can say things because he's not in office. do you think that president obama was out in front of this thing? do you think he's sort of been observing and watching and stepping in where needed? do you think he was a little further behind? what's your sense of -- i'm asking you to write history right now. >> no, i understand. i think timing is such an important thing for presidential leadership. lincoln, too, loved consensus but at the point, too, he said a search for consensus has to stop. i'm issuing the emancipation proclamation. you wonder if it would be better for president obama to come out and mobilize the public behind his deal, including tax revenues as well as sharing and more shared sacrifice rather than just cuts. if the country had gotten mobilized -- they did in the last few days. by then, it was awfully late. they had to make a deal to get the certainty and get moving on right now. timing is one of the leadership that i'm not sure he has down right now. >> excellent to talk to both of you. good to have you on the show. doris kearns goodwin, and nick ragone. new this morning, jose mubarak headed to trial. recently moved to -- thrown out in january after protests of 800 people were killed during that uprising. leader of a violent drug cartel, who ordered a hit on jose antonio hernandez, better known as eldiego. he ordered an attack on a pregnant u.s. consulate employee and her husband last year. he is the suspected leader of the l.a. gang, smuggling drugs into the united states. so many people are being arrested for possessing small amounts of marijuana. they might start handing out citations instead of booking suspects and putting them behind bars. jails are getting overcrowded because of the pot busts and many of the cases are thrown out by judges anyway. a swarm of bees takes over a california neighborhood. they are angry. not sure how one determines that bees are angry. we're told they're angry. >> i think it's when they sting you. >> isn't that kind of what they do? we'll find out about this story. some residents are afraid to leave their homes. we'll have that story for you. plaxico burress back in the big apple, ready to play with his new nfl team. we'll tell you the details of his deal, coming up. people told me i wasn't going to do anything. and i just decided i have more to offer than that. i put myself through nursing school, and then i decided to go get a doctorate degree. university of phoenix gave me the knowledge to make a difference in people's lives. my name is dr. kimberly horton. i manage a network of over a thousand nurses, and i am a phoenix. [ male announcer ] find your program at phoenix.edu. vietnam, 1967. i got mine in iraq, 2003. u.s.a.a. auto insurance is often handed down from generation to generation, because it offers a superior level of protection and because u.s.a.a.'s commitment to serve the military, veterans, and their families is without equal. begin your legacy. get an auto insurance quote. u.s.a.a. we know what it means to serve. yoo-hoo. hello. it's water from the drinking fountain at the mall. [ male announcer ] great tasting tap water can now come from any faucet anywhere. introducing the brita bottle with the filter inside. it is shaping up to be a perfect day to vote on the debt ceiling deal in washington, d.c. right now it's 85. >> you can walk to work. >> later today, there will be thunderstorms. >> who wants to be outside at 98 and thunderstorms? stay in the capitol. it's cool. >> thunderstorms might be taking place inside the capital. >> or at least lightning. we're telling you about this before the break. california neighborhood held hostage by honeybees. check out the swarm in fair o oaks. these bees are angry, i'm told. result of an steextermination j gone wrong, i'm told. residents are hiding out inside their homes, afraid they'll get stung. it could take at least a week. >> if someone sprayed poison in your house, you would be angry, too. >> yeah. bandits broke into this liquor store, stole thousands of dollars in merchandise. >> and caused over $20,000 in damages. picked the lock of a vacant shop next door and punched holes in the walls to get through. second chance for plaxico burress, a happy ending to this story. wide receiver just signed a one-year, $3 million contract with the new york jets, hoping to revive his career with his new inform fl home after being released from prison. after he shot himself in the leg back in a new york nightclub. >> must be good to be peyton manning right now. just inked a new deal with the indianapolis colts, five years, $90 million. that's $18 million a year. ties the new england patriots quarterback, tom brady, for the highest in nfl history. well, he's well worth the cash, four-time league mvp. apparently, i'm told, he turned down even more money in order to allow the team to hire more players. >> it was important that the indianapolis colts matched the salary of tom brady. they purposefully did that and wanted to pay peyton manning more but he said, no, no, no. >> interesting. >> please, use it to hire good players. >> nice. >> $90 million. >> that is nice. >> yeah. another british royal ties the knot. zara phillips is the eldest granddaughter of queen elizabeth, who married mike tindall. the couple was first introduced by her cousin, prince harry, back in 2003. cost will no longer be a barrier to birth control. the obama administration will now require insurers to cov contraceptives. what this means for health care. a father/son team that just visited every major league baseball stadium. my dream. [ vending man ] hi there! that's not going to satisfy you. come on. it's time for a better snack. try this. it's yoplait greek. it has two times the protein of regular yogurt. you'll feel satisfied. [ female announcer ] yoplait greek. it is so good. oh, and there's a smile. the possibilities are dless. inin.. to tuesday and wednesday only. hotels.combe smart. book smart. discover customersl are getting five percent cashback bonus at the pump... and at many of the places their summer plans take them. it pays to switch, it pays to discover. now 45 minutes past the hour. here are your headlines. both the senate and the house are expected to vote on the breakthrough debt ceiling deal, including $1 trillion cuts over ten years. u.s. markets open in just about 45 minutes from now. stock futures are up this morning, trading higher on the good news out of washington. and world markets made gains overnight as well. local state, federal investigators are stepping up the search for celina cass. the new hampshire girl has been missing since last tuesday morning when her parents went to her room to wake her up and she was gone. two jailed u.s. hikers in iran has ended. they could be coming home soon. verdict and sentence are expected any time this week for shane bauer and josh fattal. serena williams made quite a comeback, winning the title at stanford on sunday. 13-time major champ suffered a number of health scares this year, but is doing just fine now. you're caught up on the morning's headlines. that is beautiful st. louis. 78 degrees right now. like much of the country, it will be 97 degrees later on today. historic decision this morning, u.s. department of health says insurers must cover contraceptives. that means women won't have to pay any co-pays at all. birth control is free. it's part of the decision by government that requires insurers to cover preventive health measures. teachers and students can't be friends on facebook, a new missouri law. it prohibits teacher and student social networking on any site. box office showdown. "the smuvs" t he smurfs" tied w and aliens" this weekend. apparently it had some bad reviews. >> didn't matter. >> exactly. they were not to be outdone. "cowboys and aliens" topped the box office. studios for the number one and number two dv -- for both number one movies have claimed the same -- there's an easy way to say that. neither of them are really on my list of things to do. >> you see this three times and you know it, the smurf movie. started out as a fun father/son road trip. >> fast forward to today and josh and spence siegel have just completed their trip visiting every major league ballpark and nb arena. >> it took them ten years. >> geez, he was just a twinkle in your eye when you decided this. >> seven years old. >> why did you decide this? >> it began as a couple of sports geeks out on the road, taking in ball games. >> right. >> over the years, it morphed into what we've become relation trips, that elevates the common road trip into a family adventure that takes weeks, sometimes months before you ever hit the road and sometimes weeks after you roll back into your driveway. >> spence, you don't think this is dorky at all, do you? >> 30 nba arenas and major league ballparks is quite an adventure. >> do you pick the games first, the cities first? do you map it out? >> sure. >> did you do a buchlg of them in one trip? >> we did them in clusters early on. really, the relationship begins with identifying a common interest between parents and their kids. >> yep. >> for spence and me, it was sports. it can be roller coasters, music, historical landmarks, food. really, whatever lights a fire under your kids that you can then begin to build out and explore together. >> when you guys started this, did you have any idea you would still be doing it ten years later? >> absolutely not. >> i don't think so. >> started slow and it snowba snowballed ? >> it did. on the third or fourth trip, spence said what if we went to every nba arena and every major league ballpark? as a single parent i thought, okay, that's a good way to spend some time together. >> i'm going to go study sports communications in the fall, heading off to college. obviously, i hope this had something to do with it. >> that's incredible. >> isn't it? >> roadway. >> what's your favorite stadium? >> somewhat partial to pnc ballpark in pittsburgh, petco in san diego and u.s. cellular back home. >> how about yours? the same? >> pretty much. i like the iconic parks like fenway, as well. >> it's expensive, we were talking. >> yes. >> you found more economical ways of doing this. >> i would like to say the most important currencies, if you will, in a relationship are time and creativity. spending time with your kids, coming up with ideas to build out the experience together and using your creativity and your kids get involved in this as well, to find economic ways. >> what are they? i would love to know what the economic ways are. >> a lot of planning and research. in my book, i talk about dozens and dozens of way prerelationship in a way to spend time with your kids finding very economical ways to find those values out there on the open road. >> how do you time it though, so that you hit the park when the home team is playing at home? >> it was a lot easier when we had 60 venues we were going to visit. we did them in clusters. down the homestretch, we had to get a lot more laser focus in pinpointing those that still remain. >> did you talk about the sports and game at hand or when you're filling these hours, this is when you're really bonding with your dad, right? >> a lot of it is on the road when you're talking, in the car, driving to your destination but also at the actual ballpark. we'll look at the food options, see what the entertainment experience is like. it's everything in between along with the game. >> you end up writing a book about this. >> i did. >> is it a -- sort of a memoir or a book for other people to figure out how to do this? >> it's part memoir and part workbook. i started speaking to parents groups, teaching them how to create relation trips of their own. out of that presentation became the book, which shares dozens and dozens of ideas that any family can adapt to their own travel to create these adventures. >> it doesn't necessarily have to be ballparks. >> not at all. >> it could be anything. >> roller coasters, theme parks. >> all about the common interest. >> as a parent, the thing to remember as they get older, like your age, he said you just can't leave them alone. it doesn't matter what you fill their time with. just don't leave them alone and left to their devices. this is very creative. >> thank you. >> do you end up talking about things that you may not have talked about if you weren't spending all this time with your dad? >> i don't know necessarily i look at it that way. once we get back from a road trip, we have weeks and months after that and we reminisce about whatever happened on those trips. do you remember this in colorado, do you remember this in california? these memories will last forever. >> i like to say that the open road is a tremendous place in which to connect with your kids. i say that uncomfortable or awkward silences tend to break down right around 100-mile mark. >> so, spence, you're going into sports communications, you said? so pump your book and then we'll take it out. >> there it is. >> the book is called relation trips. my relation trips.com is the website and twitter @relationship relationtrips. warning, you're about to feel very old. i did when i heard about this. 30 years ago today, mtv was born. up next, a look back at the launch of a network that changed the music industry forever. [ man ] behind every business is a "what if." what if we designed an electric motorcycle? what if we turned trash into surfboards? whatever your what if is, the new sprint biz 360 has custom solutions to make it happen, including mobile payment processing, instant hot spots, and 4g devices like the motorola photon. so let's all keep asking the big what ifs. sprint business specialists can help you find the answers. sprint. america's favorite 4g network. trouble hearing on the phone? visit sprintrelay.com. can help you ♪ d the answers. ♪ ♪ ♪ introducing purina one beyond a new food for your cat or dog. i don't even know anymore. [ tapping ] well, know this -- for a good deal on car insurance, progressive snapshot uses this to track my good driving habits. the better i drive, the more i save. it's crystal-clear savings and only progressive has it. nice. this has been a public savings announcement. out there with a better way. now, that's progressive. yoo-hoo. hello. it's water from the drinking fountain at the mall. [ male announcer ] great tasting tap water can now come from any faucet anywhere. introducing the brita bottle with the filter inside. all right. 30 years ago today, the music industry changed forever. >> that's right. mtv celebrates its 30th birthday today. wow, on this day in 1981, the first music video aired on the 24-hour music network. "video killed the radio star." it can be seen in over 600 million houses. >> unbelievable. >> teen mom and that critically acclaimed "jersey shore." >> there's attitude there, tone there. i like "jersey shore." >> did you watch the videos from 30 years ago? >> they looked so rinky dink and they changed the world. >> i have no recollection. i was too young. >> we lived out in the country. we didn't have cable. >> martha quinn was my favorite. look at them now. >> j.j. jackson passed away in 2004. there are four who remain. house and senate are expected to vote on a deal today so our question is -- >> our question is, do we want to know, debt deal, who won last night? wall street, main street or someone else? this is scott. he said this on our blog. i think america lost as as a whole. the rest of the world sees our politica

Related Keywords

Default ,Christine Romans ,Republicans ,President Obama ,Leaders ,Spending Cuts ,Democrats ,Markets ,Relief Rally ,Borrowing Power ,Return ,File ,Carol Costello ,Deal ,World ,News ,Money ,North America ,Credit Rating ,Debt Ceiling Debate ,Aaa ,Down ,Possibility ,Jeopardy ,Lot ,American Morning ,Weekend ,August 1st ,1 ,Things ,Last Night ,Little ,E Mails ,Brighter ,Saturday Night ,Plan ,White House ,Senate ,Exchange ,Borrowing Limit ,Debt Ceiling Crisis ,Agreement ,Economy ,Deficit ,Effect ,Parties ,Sense ,Chambers ,Avoid ,Debt Ceiling ,2012 ,17 Billion ,917 Billion , 4 Trillion ,2 4 Trillion ,Compromise ,Cuts ,Tax Increases ,Bottom Line ,Conservatives ,Committee ,Win ,Perfect ,Deficit Reduction ,Down Payment ,Nancy Pelosi ,Members ,Half ,Quote ,Incentive ,Battle ,Mike Lee ,Vote ,Product ,Favor ,Haven T ,Writing ,Debt ,Opportunity ,Legislation ,Effort ,Spending ,Summary ,Reform ,Isn T ,All Around The World ,Morning ,Washington ,Story ,Athena Jones ,No One ,Phone ,Excitement ,Coverage ,Cameras ,Brianna Keilar ,One ,It ,Bill ,Stuff ,Wanted ,Increase ,Part ,Two ,Congressional Committee ,Entitlement Reform ,Fighting ,Deficit Reduction Measures ,Long Way To Go ,President ,Option ,Sides ,Tax Increase ,Tax Reform ,Ground ,Keeping ,Does ,Well ,Doubt ,Something ,More ,Tax Cuts ,Mind ,Making ,2013 ,Course ,Bit ,Tax ,Route ,Flat ,Super Congress ,Relief ,Houses ,Sigh ,Support ,House Democrats ,Doesn T ,Side ,Issues ,Tea Party ,Point ,Say ,Republican ,House Speaker Boehner ,Caucus ,Details ,Conference ,Voting ,Votes ,Folks Haven T ,Thinking ,Goal ,Likelihood ,Planning ,Reid ,Boehner ,Debate ,Passes ,Thanks ,Aisles ,Cojoling ,Sleep ,Guys ,Gene Sperling ,Economic Policy ,Title ,Assistant ,The Way ,7 ,00 ,Thing ,Some ,Trade ,Nothing ,Revenue ,Tax Hikes ,Behalf ,Gain ,People ,Senator Mccain ,Dick Durbin ,Elections ,All Star Lineup ,Bush ,Nobody ,Capitol Hill ,Debt Deal ,Dance ,Administrations ,Exhaling ,Wall Street Journal ,Steven Moore ,Futures ,Jitters ,Open ,Predictions ,Beijing ,Winner ,Grain Of Salt ,Tokyo ,Asian ,Dollar ,Authorities ,Exporters ,Yen ,Manufacturers ,Boost ,Japanese ,China ,Control ,Politicking ,State Media ,Game ,Chicken ,Wall ,Debt Problem ,Irresponsible ,Debt Concerns ,Caution ,Trading ,Sort ,Media ,Page ,American Media ,Point Of View ,Dangerous Game ,Let S Go To London ,Chinese ,Market ,Feeling ,Europe ,Nina De Santos Is Standing ,London ,Excess ,Mali ,Traders ,Optimism ,Ftse ,Trading Floor ,Investors ,Many ,Attention ,Session ,Saying ,Perspective ,Impasse ,4 ,Euro ,Pound ,Raising ,Tour Asking ,Kind ,Accounts ,Concerns ,Back ,Currency ,26 ,17 ,Problem ,Problems ,Way ,Market Makers ,Job ,Wage Gap ,Wouldn T ,Jobs ,Hadn T ,Somebody ,Life ,Equivalent ,Country ,Hit ,Others ,Wealth Gap ,Wealth Gap Widening ,Puew ,Animal Video Thing ,Everything ,Austerity Program ,Question ,Wall Street ,Main Street ,Economists ,Who ,Average American ,Yep ,Won ,Comments ,E Mail ,Tweet ,Someone Else ,Attack ,Facebook ,Equipment ,Bomb Making Chemicals ,Anders Breivik ,Norway ,Cast ,Head ,Suspect ,Site ,Drill Press Device ,Sulfur Powder ,Panel ,Explosives ,Suit ,Bullets ,Ebail ,City ,Attacks ,Gunfire ,Syria ,Government Tanks ,Actions ,Hamas ,71 ,100 ,Passengers ,Plane ,Air Egypt Flight Today ,Fire ,Firefighters ,Takeoff ,Smoke Inhalation ,Cockpit ,Saudi Arabia ,Cairo ,300 ,Runway ,Fence ,Injuries ,Jet ,Bones ,Airline ,Caribbean ,Boeing 737 ,Guiana ,737 ,Weather ,Booking Suspects ,Amounts ,Police ,Citations ,Marijuana ,Chicago ,Jails ,Cases ,Judges ,Rock And Roll ,Ladies And Gentlemen ,Mtv ,Music Video ,Music Network ,Video Killed The Radio Star That S Incredible ,1981 ,24 ,30 ,Homes ,Focus ,Reality Shows ,600 Million ,Martha Quinn ,Teen Mom ,J ,Jerry Shore ,Jackson ,Deejays ,Five ,Fact ,Memories ,Fab Five ,2004 ,Four ,Bank ,Heat Warnings ,Temperatures ,Midwest ,Announcement ,Sight ,Warnings ,Banking Branch ,Heat Advisories ,Rob Marciano Next ,Line ,Peyton Manning ,Quarterback ,Sign ,Big One ,Big ,Indianapolis Colts ,Protein ,Sugars ,Fat ,O ,5 ,15 ,25 ,Announcer ,Both ,Nutrition ,What S Shakin ,Value ,Oooooh ,Egg ,Fifty ,Charge ,Information ,Auto Insurance ,Bundler ,Beeping ,Whirring ,Ding ,Discount ,Vehicles ,Progressive ,Neighborhood ,Bundling ,Lives ,Misperceptions ,Natural Gas ,Gasoline ,Aren T ,Natural Gas Vehicles ,Conversation ,40 ,Community ,History ,Tom Brady ,Contract ,Cash ,Ties ,Nfl ,League Mvp ,90 Million ,00 Million ,Team ,Good ,Anything ,Second Chance ,Players ,Salary ,Incredible ,Plaxico Burre Burress ,3 Million ,A Million ,Home ,Career ,Leg ,Prison ,Gun Charge ,New York Jets ,20 ,Everybody ,Rob Marciano ,Teams ,Jets ,Heat Advisory ,Steelers ,Giants ,Hi ,Record ,Heat ,Places ,Sounds ,Oklahoma ,Texas ,Kansas ,Southern Plains ,Sure ,Help ,Temperature ,Rain ,Drought ,Humidity ,Dallas ,San Antonio ,Don 103 ,Zero ,109 ,103 ,Front ,Thunderstorms ,Matter ,Northeast ,Progress ,South ,North ,110 ,Delays ,Morning Fog ,New York City ,Airports ,San Francisco ,Emily ,System ,Hurricane Aircraft En Route ,Islands ,Winward Islands ,West ,Threat ,Florida ,Gun ,Carolinas ,Heavy Rain ,Debt Ceiling Agreement ,Move ,Richard Quest Standing ,Globe ,Reaction ,Pond ,Responses ,Somebody Snels ,Monkey ,Thoughts ,Name ,Price ,Yes ,Travel Sites ,Custard ,Eagle Flies ,Ne Go Ti A Tor ,Code ,Bid ,Wheels ,Lady ,Save ,Weapon ,Wait ,Affirmative ,Naomi Pryce ,Hotel Bids ,60 ,Three ,Hotel ,Priceline ,Much ,Car ,Resonsible ,Business ,Nation ,Gains ,Lawmakers ,Stock Futures ,Blue Chip Stocks ,Dow ,Uncertainty ,Hsbc ,Metal ,Bounce ,Debt Creel ,634 ,1634 ,Companies ,Company ,First Niagara ,Restructuring ,Banking Branchs ,S P 500 ,5000 ,195 ,25000 ,107 ,500 ,Estate ,Earnings ,Honda ,Minds ,Profit ,Earthquake ,Bell ,Insurance Companies Humana ,88 ,Government ,July ,Briefing Com ,Forecasting ,Shock ,Estimates ,Analyst ,78000 ,18000 ,Break ,At Exxon ,Hippos Don T ,Level ,Engine ,Deposits ,Intake Valves ,Mobil ,Cnnmoney Com ,Gasoline Work ,Emissions ,Leave ,Monday August 1st ,Looks ,Seven ,Debts ,Deficits ,Measure ,Calls ,Means ,Reduction , Trillion ,1 Trillion ,2 Trillion ,Medicare ,Defense Spending ,Cutting ,Commission ,Congressmen ,Bunch ,People Tweeting ,Mortgage Interest Deduction ,Fine ,It Doesn T ,Fbi ,Girl ,Room ,Celina Cass ,Anyone ,Land ,New Hampshire ,Reward ,Rescue Teams ,Parents ,11 ,Tanks ,Ha Ma ,Place ,Debt Ceiling Deal ,Hurdle ,Hair ,Minority Leader ,Statement ,Bottom Line It ,2 ,Speaker Pelosi ,Particular ,Debt Ceiling Limit ,Everyone ,Hopes ,Wire ,Stake ,Standing ,Role ,Richard Quest ,Risk ,Democracy In America ,Heart ,Pickle ,National Mall ,Doesn T Get ,Person ,Mall ,6 ,Debt Agreement ,Listen ,Sharks ,Oceanliner ,Life Rafts ,Safety ,Most ,Start ,Bond Rating ,Ali Velshi ,Rating Agencies ,It Stands ,Whether ,English ,Business People ,Come On ,Sister ,Mark Zandsy ,Moody S Com ,Debt Downgrade ,Bill Gross ,Pimco ,Pressure ,Discord , 5 Trillion ,1 5 Trillion ,Limit ,Term ,Agency ,Questions ,Go Run ,Illinois ,We Saw Joggers ,Majority Whip ,Arizona ,Sponge ,Lineup ,Dishes ,Change ,Opposition ,Player ,Cheers ,Applause ,Squirt ,Drop ,Power ,Bottle ,Brand ,Cleaning Ingredients ,Grease ,Non Concentrated ,Chore ,Ultra Dawn ,Kid ,Tum Tums ,Slap ,Foods ,Tum ,Gang ,Blog ,Answers ,Monica ,Sarah ,Caleb ,Dog ,Program ,Puppy ,Debt Deal News ,Teaching ,Death ,Neck ,Nip ,Mother ,Interaction ,Bond ,Nurse ,Baby ,Trouble ,Leaf ,Newborn ,Feedings ,San Diego Zoo ,Video ,Officials ,Nursing ,Baby Hippo ,Dancing Moves ,Water ,Personalities ,Hippo ,Personality Blossom ,Grass ,Recruit ,Soldier ,One Man ,Elevator Bell Dings ,Afghanistan ,Deployment ,Transformation ,Jason Carroll ,Boot Camp ,Cnn ,Coughing ,Facts ,Asthma Attacks ,Childhood ,Coughing Continues ,Air Pollution ,Tell Washington Don T ,To Lungusa Org ,Clean Air Act ,Yoo Hoo ,Tasting Tap Water ,Drinking Fountain ,Anywhere ,Filter ,Brita ,Faucet ,Compromise Debt Deal ,Headlines ,46 ,Search ,Last ,Advisories ,Heat Wave Smothering ,Heat Index ,Eight ,Hikers ,Verdict ,Attorney ,Spying Charges ,Missouri ,North Carolina ,Iran ,Shane Bauer ,Nebraska ,Arkansas ,Report ,States ,Hate Crimes ,Gays ,Lesbians ,Josh Fattal ,Crime ,Same Sex Marriage ,Guilty ,Programs ,The Don T Ask Tell Policy ,Repeal ,Coalition ,2010 ,2009 ,13 ,Researchers ,Sugar ,Obesity Epidemic ,Calories ,University Of North Carolina ,Harry Potter ,Box Office ,List ,Dollar Mark ,Films ,Hollows ,Avatar ,Nine , 8 Billion ,2 8 Billion ,Leader ,Hosni Mubarak ,Charges ,Death Sentence ,Trial ,Human Rights ,Security Reasons ,Police Academy ,Egyptian ,83 ,Protests ,Office ,Uprising ,Boy ,West Bridge ,I 35 ,35 ,800 ,Disaster ,Remembrance Garden ,Memorial ,Victims ,Injured 145 ,Cars ,Mississippi River ,Collapsed ,145 ,Type ,Bridges ,Collapse ,Pedigree ,Pillars ,Fear ,Fixin ,Concrete ,Falling Down ,Chunk ,Fixing ,Silence ,Criticism ,Ten ,9 11 ,Classroom ,Class Room ,Interview ,Stone Faced ,National Geographic Channel ,Chief Of Staff ,Twin Towers ,Children ,Calm ,Demeanor ,Lines ,Opinion ,The Home Front ,Combat Engineer ,Will Mcclain ,Guy ,Step ,Tell Us ,Journey ,Briefly ,The Story ,Area ,Teenager ,Eyes ,Soldier Fighting The War In Afghanistan ,Taliban ,Reporter ,Town ,Rose Month ,High School Student ,California ,Mcclain S Dramatic Physical Transformation ,18 ,Training ,Weight ,Drill Sergeant ,Let S Go ,Forward Operating Base ,Zabl ,170 ,175 ,Mission ,Reality ,Searchs ,War Zone ,Roadside Bombs Ru ,Combat Engineers ,Bombs ,Convoy ,Kill And Injure ,Captain ,Times ,Sergeant Joseph ,Time ,Robert White ,Degree ,League ,Vehicle ,Bomb ,Worry ,Didn T Hit Mcclain ,Hand ,Terms ,Decision ,He Wouldn T ,War ,Hometown ,Change Of Heart ,Fighting A ,Men ,Insurgents ,Roadside Bombs ,Will ,Soldiers ,Field ,Oman ,Fights ,Troops ,Internet ,Contact ,Discussions ,Cell Towers ,Portion ,Areas ,Aside ,Formation ,57 ,Food ,Cat ,Purina One ,Pricing ,Work ,Choice ,Brakes ,My Meineke ,Debt Crisis ,Computer ,Girl Missing ,Celine Na Cass ,Rallying ,Out Of The Woods Yet ,Kids ,Cut ,Passenger Jet ,163 ,Breakthrough ,End ,Editorials ,The New York Times ,Solution ,Performance ,Victory ,Washington Post ,Hostage ,Mr ,Council ,Director ,Sacrifices ,Didn T ,Responsibility ,Spending Cut Reduction ,Amount ,Millions ,Cutting Spending ,Sacrifice ,Security ,College Scholarships ,Pell Grants ,Tax Breaks ,Revenue Reform ,Tax Expenditures ,Punishments ,Talk ,Rounds ,Punishment ,Taxes ,Table ,Students ,Families ,Plans ,Seniors ,Burden ,Expenditures ,Package ,Veto Pen ,Class ,Progressives ,Hook ,Regard ,Paul Drugman ,Krugman ,Swinging ,Tax Cut Deal ,Wrong ,Situation ,Payroll Tax Cut ,Budget ,Debt Limit ,No ,Six ,Firm ,Governing ,The End ,Didn T Blink ,Law ,Conference Call ,Hope ,Afternoon ,Resolution ,The Hill ,Dover ,About ,Meeting ,Who Don T ,Commitment ,Congressman ,Speaker Boehner Last Night ,Reporting ,Investigators ,Computer Last Monday Night ,Conducting Searchs ,Father ,Daughter ,Best ,Plea ,The Girl ,Daddy ,Mess ,Hospital ,Se Celina ,Bomb Making Materials ,Norway Terror ,Ebay ,Sunday Telegraph ,Reports ,Breivik ,Fatalities ,Bruises ,Caribbean Airlines ,Georgetown ,Unbelievable ,Teachers ,Let Me Entertain You ,Friends ,Tricks ,Music ,Flash ,Beats Audio ,Movies ,Hp Touchpad ,Webos ,Letters ,Mail ,34 Million ,165 Billion ,Women ,Tax Dollars ,Costs ,Postage ,Wonder ,Taxpayer ,Tens ,Hundreds ,Stamps ,United States Postal Service ,Usaa ,Vietnam ,Iraq ,Postal Worker S Union ,2003 ,1967 ,Veterans ,Generation ,Protection ,Legacy ,Equal ,Military ,Auto Insurance Quote ,Ceiling ,Clouds ,Words ,Debt Stuff ,Tell Me Something ,Anything Rob ,Parts ,D C ,Degree Mark ,August ,Sound ,Record Setter ,90 ,120 ,Counting ,Recordbreaker ,Row ,Look ,Least ,Thunderstorm Watch ,Western Minnesota ,Wampadan ,Oklahoma City ,Metros ,Heat Indices ,Philly ,Wit Cha Ta ,Action ,108 ,Storm ,Depression ,Satellite ,Northern Caribbean ,Aircraft Rolling ,Rain Deficit ,Computer Models ,Tracks ,Rob ,Carol ,Nice ,Jasmine ,Gopie ,Teacher ,Jade ,Pediatrician ,Biology ,Ap ,Confidence ,Homework ,Dream Come True ,Talent ,21 ,Prices ,Debt Talks ,Gold ,Lsbc ,Banking ,Branches ,Profits ,Allstate , 3 Billion ,2 3 Billion ,Insurance ,Analysts ,On Investor ,Expectations ,Energy ,Cleaner ,Producers ,Energy Developement ,Environment ,Feet ,Communities ,Systems ,Sources ,Drilling Thousands ,State Of The Art Monitoring Technologies ,Operations ,Subaru ,Weight Class ,Hits ,Stack ,Flick ,Apps ,Textile Production ,Exports ,Technology ,Use ,Spain ,New Zealand ,Complex ,Funds ,Reason ,Investing ,Expenses ,Investment Information ,Risks ,Prospectus ,T Rowe Price ,Connections ,Request ,Fees ,Lipper Average ,75 ,10 ,Jay Powell ,Bills ,George H W ,The One ,Downgrade ,Scholar ,Bipartisan Policy Center ,Standard Poor S ,They Haven T ,Outcome ,Defense ,Providers ,Idea ,Too Big To Fail ,Fail ,Guarantee ,1 2 Trillion , 2 Trillion ,Trigger ,Savings ,Wasn ,Winners ,Negotiations ,Bargain ,Address Entitlements ,Occasions ,Done ,Satisfaction ,Curve ,Election ,Issue ,Choices ,Difficulty ,Public ,Need ,Disruptions ,Aspects ,22 ,July 22nd ,Rest ,Borrowing ,What Treasury ,Case ,Belief ,Won T ,July 22 ,Debt Initiative ,Isn T Really A Jobs Initiative ,Government Spending ,Hurts ,Finger ,Growth ,Opposite ,Job Growth ,Trend ,Beginning ,Key ,Turmoil ,Stories ,Eastern Time ,Talks ,Illinois Standing ,President Obama Last Night ,Search Teams ,Guest ,Midst ,Thingp ,Recovery ,Interest Rates ,Scenario ,Budget Cuts ,Poor ,Senator ,Number ,Consensus ,Group ,Voter ,Same ,Proposal ,Nowhere ,Put Everything On The Table ,Bowles Simpson Commission ,Joint Committee ,Somewhere ,4 Trillion ,Triggers ,Threats ,Conclusion ,Direction ,Let ,Example ,Visitor ,Defense Cuts ,Alternative ,Beneficiaries ,Nondefense ,Entitlements ,Untouched ,Voters ,48 ,Indication ,Extremes ,Approach ,Realities ,Challenge ,Study ,Approval Ratings ,Family ,Relatives ,Working ,Leadership ,Timely ,Spine ,Extortion ,Candidates ,Economy Crater ,Chips ,Bluff ,Senator Durbin ,Frustrations ,There ,What S Going On In Washington ,Views ,Ooo Whatcha ,Preservatives ,Cuisine ,Sesame ,Mine ,Lucky Dynasty ,Uh Oh ,Broccoli ,Meat ,Ingredients ,Lean Cuisine ,Sentence ,Espionage ,Coming Home ,Drug Cartel ,Consulate Worker ,Gesture ,Mexico ,Jose Hernandez ,Employee ,Husband ,Murders ,La Linea Gang ,El Diego ,1500 ,Plaxico Burress ,Chance ,Burris ,New York Night Club ,2008 ,Shirts ,Dick Dushen ,Island ,Rotunda ,Durbin Swap ,Careers ,Virtue ,Couldn T ,Gentlemen ,Names ,Discussion ,Intrajent ,Intransgent ,Editorial ,Is ,Last Option ,Mcconnell ,Balanced Budget Amendment ,Characters ,Hobbits ,Advocate ,Success ,Size ,Colleagues ,Compromises ,It Wasn T A ,Majority Vote ,View ,Gdp Numbers ,Stimulus ,Bill Doesn T ,Recession ,Path ,Pullback ,Maximum ,Pumping Money ,Unemployment ,Failure ,8 ,Tax Rate ,Emergency ,Government Regulations ,Morium ,Shirt ,Show ,Tie ,Tv ,Colored ,High School ,Mccooey ,Click ,Wasn T ,In My Life ,Classes ,Engineering Field ,Math ,Breakthrough Debt Ceiling Deal ,Espionage Trial ,Hama ,Policing ,Communication ,Social Network Site ,Sexual Misconduct ,Serena Williams Making A Comeback ,Health ,Champ ,Finalist ,Bank Of The West Classic ,Stanford On Sunday ,Birth Control ,Co Pays ,Health Insurance ,Department Of Health ,Contraceptives ,Insurers ,Elizabeth Cohen ,Gee ,Contraception ,Groups ,Bishops ,Pregnancies ,Prenatal Care ,Moms ,Doctors ,Babies ,Wha ,Births ,Mothers ,Someone ,Medicaid ,Birth ,Child ,Pregnants ,Pills ,Screening ,Care ,Sexually Transmitted Diseases ,Diabetes ,Breast Pumps ,Rental ,Wow ,Twenty Four ,401 ,59 ,3 6 Trillion , 6 Trillion ,94 ,166 ,20000 ,0000 ,24 7 ,77 ,1850 ,1964 ,85 ,14 ,A Thousand ,98 ,18 Million ,8 Million ,45 ,78 ,97 ,360 ,Unemployment Rate ,Andearly ,Jobs Picture ,Wake Up Call ,