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Transcripts For CNNW Piers Morgan Tonight 20110729

we are going to ask some of the smartest people in washington to explain what is going on tonight. john king, jessica yellin. first, i want to go straight to is that they re trying to win over some of the undecides of some of the no votes amongst the conservatives in their party. what they were discussing at one point was trying to tweak the bill in order to win over conservatives who are unhappy that the bill didn t go far enough, piers. and what they were talking about doing is making the second debt ceiling vote that is part of this bill, making that increase contingent upon congressional passage of a balanced budget amendment. this goes further than the bill does at this point. they thought this was going to win over conservatives. conservatives shot it down in the room. and they re back at square one. so what we re told is that their leaders are meeting this evening still at this hour. they re still talking and they will be meeting with their conference, all of their rep

Transcripts For CNNW Piers Morgan Tonight 20110729

tonight the white house the right and the left and the clock. countdown to crisis. we are simply four days away from one of the worst financial catastrophes that could face this country. this is piers morgan tonight . good evening, we start with break news. it s been an extraordinary couple of hours on capitol hill. speaker john boehner s debt plan remains stalled in the house without sufficient support from his own caucus to get the bill passed. he couldn t even put it to a vote tonight. meanwhile, this country moves closer and closer to an almost unthinkable national default. congressional correspondent kate bolduan here to explain if she can what s going on tonight. kate, can you? what is going on? reporter: it s been a wild day up here, i ll tell you, piers. it all started when the house republican leaders, they abruptly stopped debate on this bill that they thought they were going to have enough support for because they didn t have enough support. and then hou

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