So the consequences, madam president , of failing to raise the debt ceiling are crystal clear. Interest rates on middleclass expenses like home mortgages, and Student Loans shoot up. Housing markets, automobile markets and others decline, many are laid off. And then others are laid off in a cyclical cycle. As most cycles are. The dollar will lose its value, making everyday purchases more expensive and the federal Government Faces terrible choices about who to pay, seniors, veterans, military, creditors. To risk these consequences would be a terrible mistake. So in conclusion, madam president , i come here with a simple plea. Not to our Tea Party Activists activists activist colleagues but to mainstream conservative republican friends. Please help us avoid the default crash. Please help us avoid an economic apocalypse. Were ready to talk. Were ready to negotiate on anything you want but first open up the government and pay our bills. Then we can sit down and debate our differences. The
Gregg harper to act as speaker pro tempore on this day. Signed, john a. Boehner, speaker of the house of representatives. The speaker pro tempore pursuant to the order of the house of january 17, 2012, the chair will now recognize members from lists submitted by the majority and minority leaders for morning hour debate. The chair will alternate recognition between the parties with each party limited to one hour and each member other than the majority and minority leaders and the minority whip limited to five minutes each, but in no event shall debate continue beyond 11 50 a. M. The chair recognizes the gentleman from oregon, mr. Defazio, for five minutes. Mr. Defazio well, yesterday the republicans released a vague press release saying it constituted a counteroffer to the president s road map to avoid driving over the fiscal cliff. Now, the republican plan purports to cut 1. 3 trillion and raise 800 billion in new revenues. It did contain four specifics. Four. Cut medicare specific num
The white house. Was any progress made today . Reporter they say they wren werent real nxs per se. It was each side putting up their opening bid. Its clear they want to do something major this year, not just kick the can down the road. Of course, they see themselves as having the upper hand. They want to press the political advantage. There will be discussions over the next several days. Congress for all intents and purposes and larges part of this city in the beltway empty out over the thanksgiving holiday next week. Im told the president was very clear on taxes privately as he has been publicly in terms of the upper income americans getting higher rates or feeling some pain one way or the other. Most see that as the place for the wiggle room. The president is open to suggestions on how to address entitlements. That, of course, is something republicans insist on. Heres a little bit of the president from inside the roosevelt room this morning. Were all aware that we have some urgent bu
But first lets get you up to speed on other stories. Joe was talking about apple. It has been a rough ten weeks for the most valuable u. S. Company. Shares tumbling more than 6 yesterday shedding 35 billion of market value. Among the reasons cited by analysts, a forecast by an Influential Research firm suggesting that the iphone and ipad maker is continuing to give up ground it rival the android gadgets. There were also unconfirmed reports that at least one major stock Clearing House was raising margin requirements. And then theres the fiscal cliff. Analysts citing fears about a hike in Capital Gains tax in 2013. Rick santelli has been talking about this, though, the things that were up in 2012, those are the things being sold now, whether that be gold or any number of assets that rose appreciably over the course of the last year. Well be talking about the future of apple and the outlook for its stock a little later this morning with Jonathan Geller of the boy genius report. Good old b
Number five, the most outrageous royal prank ever. Hello there. Could i please speak to kate please, my granddaughter . This is piers morgan tonight. Good evening. Our big story tonight from what every one is talking about. Washingtons highstakes game of lets make a deal, to the royal prank called heard around the world. To bob costas talking about guns. And this shocking new york subway photograph. Reports of chemical weapons in syria. Lets get started with what promises to be a lively discussion. Abbe huntsman, and a host of huff posts live. And welcome to you all. Lets start with guns and the fallout of the murder and suicide of jovan bellcher and his girlfriend. Bob costas of nbc spoke out about this. Lets watch what he said tonight. I believe that there should be more comprehensive and effective controls on the sale of guns. Roughly 40 of the guns purchased in this country do not require a background check for purchasing. I dont see any reason why someone should be able to purchas