out. now, despite all that, i m told by my sources there s not a lot of optimism, that this particular negotiating process here at the white house is going to actually end up leading to the real deal, and a lot of effort and attention is now turning to a different process that s happening in the u.s. senate and another alternate deal that s being worked out between the two senate leaders that could instead end up raising the debt ceiling. an optimistic late night view from jessica yellin. today president obama will update the nation with a press conference at 11:00 a.m. eastern time, cnn will carry that live. let s talk about the phone hacking scandal in the united kingdom. it might not be limited to that side of the atlantic. the fbi is now investigating murdoch s news corporation. there s an accusation that his employees may have tried to hack into the phone conversations and voicemails of 9/11 victims and their families. rudy giuliani was mayor of new york during that
good morning. it is thursday, july 14th. this is your a.m. wakeup call. here s break is news. we just learned that british police have made an arrest in that scandalous phone hacking case that brought down that is bringing down parts of rupert murdoch s news empire. i ll get you more on that in just a moment. i wish i could say there s big news about the debt ceiling talks. i can t tell you that. there s more drama than dealing going on in d.c. right now. a fifth round of talks is set for today. but yesterday didn t go so well. house republicans called for a short-term extension and house majority leader eric cantor says this is what the president said in response. quote, don t call my bluff, eric. and then he walked out a few minutes later. president obama said all along he d veto any short-term measure. ed administration says failure to raise the $14.3 trillion debt ceiling by august 2nd could trigger a partial default on the part of the united states. thanks to that de
ththis is your a.m. wake-up ca. ir ip i m ali velshi fk . let us quickly eat our peas even though it is breakfast. we talk about the debate over the raising of the debt ceiling. if it were a movie, you could call it, dude, where is my compromise? the debate is getting testier and more partisan. president obama told cbs news if lawmakers don t have a deal in place by the august 2nd deadline, holder americans could feel it next month when the social security payments are due. i cannot guarantee those checks go out on august 3rd if we haven t resolved this issue because there may simply not be the money in the coffers to do it. republican congressman ron paul of texas who is running for president thinks the president is playing the social security card. here is what he said. that just isn t true. because the funds there for social security and these emergencies, the cash flow is good enough for that. if they really needed to, why don t they quit sending the interest rate p