they re acting as though it s today. is there any news in the last 50 or so minutes since we last spoke? reporter: since we last spoke, that impromptu meeting you and i were talking about between a bipartisan group of members of the super committee, that has broken p up. as members were leaving, senator max baucuss, facing a mass of reporters, the only way to describe it, he actually mentioned that there s possibly a new tax idea being floated possibly by senator john kerry. as you and i talked, this meeting was described by one aide earlier as kind of a hail mary pass to see if they could pull anything off in this 11th hour. unclear what the details are of this tax idea, but i will tell you that it does seem that it possibly could be a long shot as one gop leadership aide has already speaking to my colleague deidre walsh on this tax idea said, at the 11th hour senator kerry offered a new gimmick, in this person s word, to get to the democrats same trillion dollar tax hike
$1.2 trillion are expected to give up. that s supposed to mean automatic cuts in almost every federal department in 2013. same bottom line $1.2 trillion half from defense, half non-defense. but congress can and likely will change it. meantime stock markets are tanking again,down jones down more than 2.5% today. again the u.s. credit rating may be in for a down gragradedowngr. much more on fallout in our face time segments minutes from now. in cairo, 1,700 people have been wounded during the worse violence to hit egypt s capital since the revolution. at least 20 people have been killed. there are now reports a government official has resigned over the violence. coming up we head to cry row aia live report. the former head of the fbi will lead the penn state investigation, an independent panel. i m committed to ensuring that our independent investigation be conducted in a thorough, fair, comprehensive manner, leaving no stone unturned and without any fear. the panel