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wake-up call. the debt crisis involving too much borrowing by the united united states is sooner than we think. the reaction of the stock market this morning shows that. reporter: the dow jones/industrials fell 40 points. republicans and democrats have informally agreed to cut the deficit at least $4 trillion in the next dozen years but the administration officials warn against tying it to the debt ceiling height that republicans want. by the time we need to raise the deadline. we have haven t worked that out. congress has to raise the debt limit. maybe not. as a senator, barack obama voted against the debt ceiling hike. it had no impact but he says it is wrong. texas congressman ron paul is ready to vote no today. i never vote for spending so i hardly want to accommodate the big spenders. they are counting on cooler heads like tom coburn to prevail.

Wake up callDebt crisisStock marketDow jonesHaven tDebt ceiling height4 trillionBarack obamaDebt limitRon paulDebt ceiling hikeTom coburn