offer the spending and deficit cuts that republicans thought it would. cnn s chief white house correspondent jessica yellin spends the next 18 seconds giving us the big picture. reporter: what s happening now is democrats are waiting. they re just waiting to see what happens with the republican s bill before making their own move in the senate. the big picture here is neither the republican s bill in the house nor the democrats bill in the senate seems to have the votes to get through both houses of congress. so we re back at stalemate. and so it s wednesday and there s no deal. the ted line is tuesday of next week. if congress can t get it done by then, you could start to see higher interest rates, a declining dollar and other problems. the white house website has put up a chart that breaks down the u.s. debt by administration over the last ten years. i was just looking at it. more than $3.5 trillion because of changes to the economy, not policy changes, but less tax in
nation last night. two men and two parties clearly are not on the same page. it s possible they re not even reading from the same book. here s the president, the speaker of the house and then a quick word from cnn s senior political analyst david gergen. temporarily raise the debt ceiling will force us once again to face the threat of default just six months from now. in other words, it doesn t solve the problem. i want you to know that i made a sincere effort to work with the president. in a manner that could secure bipartisan support and be signed into law. and i ll tell you, i gave it my all. unfortunately, the president would not take yes for answer. even when we thought that we might be close to an agreement, the president s demands changed. you got the two plans that are out there. are ultimately horses that you can ride all of the way to the finish line and the issue becomes, what comes after them? and can you get it done before monday or tuesday next week? i i t
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
shuttle. we are now less than one hour away from the final space shuttle landing. just in the last half-hour, we got a go for landing from nasa. the deorbit burn took place in the last couple of minutes. in the burn, the shuttle s engines are fired to help it slow down before it hits the atmosphere. in less than 30 minutes the shuttle and crew will start to feel the effects of the atmosphere. they ll be about 80 miles above the earth at that point. as the shuttle comes through the atmosphere, it heats up to about 5,000 degrees on the outside. when it breaks through the atmosphere, many of the folks in florida will hear those famous son iic booms. about five minutes before the landing, the commander will take manual control of the shuttle and pilot it to the grounds. when the orbiter hits the runway, it will be going 220 miles an hour. the shuttle will land for the last time ever at 5:56 a.m. eastern time. and just so you know, nasa is considering this a night landing. the lan
read the wall street if you go see fox movies, harper collins, if you watch american idol, you re a rupert murdoch customer. the murdochs both father and son have their work cut out for them. they have two different things in their testimony tomorrow. they got acknowledge responsibility. they have to say that what is completely obvious is that this wasn t abe ration, it was apparently thousands of people who were hacked and the idea they didn t know is propest rous. at the some time, they can t con fes to crimes. another twist a former news of the world reporter a man who blew the whistle has been found dead in his home. one of the first to go on the record saying that his colleagues were encouraged to hack. the death is being treated as unexplained but not suspicious. the hacker group hit the sun, a murdoch paper, it posted fake articles and now some hackers saying they re sitting on news of the world e-mails. two weeks until america runs out of money to pay its bill.