what could be the largest municipal bankruptcy in u.s. history. good morning to you all. thank you for spending part of your weekend with us. i m t.j. holmes. we do need to start with a debate that was supposed to be over already. we are less than three days from a possible u.s. default. this clock is still ticking and a deal is not done. we are expecting a lot of action on capitol hill today. both houses in session, but whether there s going to be any real progress, that s anybody s guess. this is what we ve got going on today. the house starts debate at noon with the likely vote on a democratic proposal expected some time after 1:00 p.m. not expected to pass, however. then over on the senate side, they kick off debate on the democratic proposal around 1:00 eastern time. they could be debating that for up to 12 hours before they even vote on whether to vote. kind of a procedural vote would take place, possibly around 1:00 a.m. we did hear from president obama this morning
has been recovered. federal investigators are hoping a $10,000 reward will lead them to the weapons or to whom ever may have taken them. the awol private accused of plotting an attack on soldiers stationed at ft. hood in texas is now being held without bond. naser jason abdo was in court yesterday. he was arrested after being tipped off by a gun store clerk. officials say they found bomb-making materials in abdo s motel room. they also say abdo admitted he plans to set off bombs at a restaurant popular with soldiers. texas is in the midst of one of the worst droughts in its history. right now in texas conditions are worse than during the dust bowl of the 1930s. take a look at this house right here across texas, many houses are shifting on their foundations because of the extreme dry soil. in some cases foundations have sunk or shifted more than 5 inches and repairs are expensive. it sank even more since the drought. it cracked. front door locks, i had changed out about
The first one for the rnc is very effective because it talks about barak obama s promises. let s take a look. barak obama promised us a better economy, but he gave us bigger government, higher taxes, and skyrocketing debt. 2.5 million jobs lost, largest deficit in history, 14.3 trillion national debt. the picture is clear. nobody is looking to raise taxes right now. we re looking at potentially 2013. we can t afford four more years of barak obama. help america change direction. republican national committee is responsible for the content of this advertising. clayton: those lines are stark, it s climbing uphill. it s climbing uphill. it doesn t do badly among democrats either because there are facts and those ads that are fact, that deal with real number, people trust. now, aarp has gotten an interesting ad an the issue of medicare and social security, very personal. this one is also effective.
2010 a $1.9 trillion. before this we never increased it by more than $1 trillion, ever. so now, this is more borrowing, more debt, from our funding to the end of the reagan administration. i put that in perspective, that is how much they are asking republicans to increase the debt ceiling. it is important to have the american people understand what is at stake here. $14.3 trillion worth of debt and that would not be a problem if the economy was $100 trillion but it is not it is $14.8 trillion and you saw the economic results. they downgraded the first quarter, anemic growth in the second quarter. we have to get our act together in washington and have a credible plan to restrain growth in spending. we are not talking about cutting much, the dinner cuts $22 billion in the first year otherwise just cutting the rate
Let s take a look. barak obama promised us a better economy, but he gave us bigger government, higher taxes, and skyrocketing debt. 2.5 million jobs lost, largest deficit in history, 14.3 trillion national debt. the picture is clear. nobody is looking to raise taxes right now. we re looking at potentially 2013. we can t afford four more years of barak obama. help america change direction. republican national committee is responsible for the content of this advertising. clayton: those lines are stark, it s climbing uphill. it s climbing uphill. it doesn t do badly among democrats either because there are facts and those ads that are fact, that deal with real number, people trust. now, aarp has gotten an interesting ad an the issue of medicare and social security, very personal. this one is also effective. let s take a look. i m a grandfather, a retired