to be severe. welcome to your money. i m ali velshi. august 2nd is the day the treasury department says it will no longer be able to pay all of our nation s bills. and the united states will default on its debt. republicans are going to vote on their own plan this week, complete with spending cuts. but president obama says he won t support deep cuts without increases in taxes. if you re trying to get to $2.4 trillion without any revenue, then you are effectively gutting a whole bunch of domestic spending that is going to be too burdensome and is not going to be something that i would support. david gergen is cnn s senior political analyst. david, there was a time when republican house speaker john boehner and president obama both talked of doing something big to change america s unsustainable economic path. what do you think? do you think that opportunity s lost? well, a week is a long time in politics. it can be a lifetime. i think what s now clear is that the big de