i m christine romans. house speaker john boehner says no way to the president s plan. he has another solution and it s simply says, spend less. i m ali velshi. congressional websites crash. what president obama said that had a number of websites going off-line. details coming up on this american morning. thanks for being with us. tuesday, july 26th. welcome to american morning. we all stayed up later than usual last night to get a chance to hear from the president about this debt ceiling showdown as well as from the house speaker. and still divided this morning. they are still divided with different plans, different ideas how to get us out of the mess. didn t you both think maybe they got something, something happened. i didn t think there was a deal. i m always the optimist. lots of ideas, plans, but no agreement. start there with the debt crisis looming, president obama, house speaker john boehner took their cases for getting a deal done directly to the
weekend. markets around the world are falling. this will have a direct effect on your 401(k). i m ali velshi. the norway terror suspect who admits killing 93 on friday is expected to appear in court in the next hour. his lawyers says he ll explain himself. little comfort to a grieving nation trying to make sense of a massacre, on this american morning. good morning. it is monday, july 25th. this is american morning. a lot going on. let s get you right to it. glad you re back. it has been a very, very busy news time. it sure has. while you ve been gone. and they solved the debt crisis while i was away wrong. a new and powerful force is now entering the debt ceiling debate and as christine said it s the financial markets. the most important at this point. that s what it s about. the markets are down overseas in hong kong and japan, they closed down as efforts to reach an agreement in washington over the weekend failed and this morning, with just eight days
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
this scene played out across scandinavia earlier today. people pausing to remember the victims of that attack. as norway mourns we are hearing more from people who risked their lives to save others. our cnn s michael holmes caught up with one of them. it s not a huge boat. how many people did you put in here? the first round i believe it was 14. reporter: 14. yes. and then i had to address the oldest one and said you have to stay ashore. i promise i will come back and get you. they respected that. i said, sit down and wait. i went to the mainland. i went back again and they were agreed upon sitting there and i just waved to them like this and they waved back and we made a contact and got them in the boat. well, the clock is ticking on the debt limit crisis. there is no deal, if no deal by august 2nd, that means higher interest rates for you, a financial mess for the country, and the talks over the weekend, well, essentially they didn t go anywhere. so now republic
says it s our way or sorry. 4,000 people are laid off. that is not the way the government is supposed to work. reporter: air traffic controllers will not be affected by any of this mess. heather: peter doocy reporting from washington, thanks. gregg: an important meeting for professional football players and their fans are set tomorrow in washington. it could determine whether the n.f.l. walkout is near and end. julie banderas who lives for football is live in our new york newsroom. julie: you read my mind. i m a bit of an expert. things are looking up for fans like myself. on day 131 of the walkout it seems like the league s owners have reached an agreement on the remaining points on the ten-year labor deal. they passed a 31-0 with one abstention which means that it s coming to a close and football