i ve never taken my last offer off the table. and they ve never agreed to my last offer. boehner says house legislation needs to be posted on-line today and voted on on wednesday if they want to raise the debt ceiling by the august 22nd deadline. timothy geithner is the guy who might not have the money to pay the country s bills on time. here s what he told cnn s candy crowley on state of the union. what we cannot do, this is very important, it would be irresponsible, is to leave the threat of default hanging over the american economy for a longer period of time. back in january, more than seven months ago, we started this process of working with the congress to get them to raise the debt limit so we could avoid a default crisis. it s taken us seven months. we re not nowhere, but almost out of runway. geithner says it s okay to do this in stages, raise the debt ceiling with spending cuts now and work out broader tax reform next year. but you heard him say that getting
place in one hour and it comes a day after the speaker, the house speaker, john boehner, walked away from the talks and it ended in a day with the two men going back back and forth in dual press conferences. also in norway, the royal family and members of the government have been meeting with survivors of those horrific attacks that killed at least 92 people. the prime minister says he personally knew some of the victims. police have one person in custody. he is going to be charged in both the deadly bombing in oslo and the even more bloody attack at a youth camp. but hello to you with all. thank you so much for being here on this cnn saturday morning. it s going to happen an hour from now. president obama and congressional leaders sitting down one more time at the white house. don t know if there ll be much negotiating, though. talks between the president and the house speaker broke down yesterday and it resulted in dual news conferences. both men in those news conferences
isn t there, from democrats about the extent to which the president is prepared to compromi compromise, but isn t he right the do so given the perilous state of the debt ceiling discussions and the impending deadline? well, first of all, there is no agreement. there are a lot of rumors flying around about what may or may not be in an agreement. for example yesterday there was a story that the white house agreed to $3 trillion in cuts and no revenues and that is what understandably got a lot of people worked up. the white house has been clear today and from the beginning that any balanced plan is going to require real revenue. so i think that it is important for us to, you know, focus on what the president says actually will be in the plan and not what some of the rumors suggest. again, to go back to your point here, democrats in the congress are prepared to do a balanced plan, and that does not mean that we will agree with every element that the president may propose, but again, we t
effectively will not affect my ability to serve as commander in chief. dr. sanjay gupta will join us for a reality check. but up first, live action in the house of representatives and how it impacts a search for a deal to keep the government from a default most economist say could derail the already fragile recovery. this hour you see right there live debate. the house is expected by the end of this hour to pass the republican majority s cut, cap and balance plan. it would cut federal spending, then cap that spending and the house republicans also want a constitutional amendment requiring washington to balance its budget every year. as we watch the debate and the vote, this important footnote, this plan has absolutely zero chance of taking effect. so, why are you watching you might ask? this is for better or worse part of an important washington ritual, house republicans want their vote on their plan. the senate in the days ahead will also take votes on spending ideas tha
both parties are still far apart. james rosen live for us on capitol hill. hi, james. report democratic lawmakers tell fox news when nancy pelosi met with obama were she laid down the law to him telling him the ongoing debt ceiling discussions must include revenue increases and the democrats will not compromise on the proposed cuts to medicare. pelosi was expected to get an ear from her own flock as they met to plot strategy. lawmakers and the white house are trying to trike a deal to raise the country s legal borrowing limit. while also agreeing on massive spending cuts the next 10-12 years. afterwards the my mort leader