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Transcripts For CNNW CNN Newsroom 20110721

keep the government from defaulting. early this afternoon bulletins went out via the new york times and the wall street journal that president obama and house speaker john boehner were close to an agreement on debt reduction on a deal there, but the white house is shooting those stories down. listen up. the breaking news report that you all probably received is incorrect. there is no deal. we are not close to a deal. the fact is that there is no progress to report, but we continue to work on getting the most significant deficit reduction package possible. you can see that is a flat-out denial from the white house, but keep in mind we had two major news operations reporting pretty much the same thing this a deal was in reach. let s go to kate balduan joining us live from capitol hill. kate, what are your sources saying up there about this? reporter: a couple of things on this. you heard there from the president s spokesman jay carney. we ve, of course, been asking ab

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