the next decade. it s really just slowing down the rate of growth of the debt. we need more revenues, which tends to mean more taxes, and we need to cut some of these entitlement spendings that are destructive to our long-term prospects. is the whole world watching? to some extent they are. they re very much distracted by europe right now, but if there s any progress made over there, or when markets get tired of paying attention to europe, they re certainly going to focus on the u.s. that s going to mean volatility for investors no matter what. oliver, thank you so much. thank you. big weekend, kelly. we re keeping our eyes on that one for sure to see how it goes. in the meantime how is possible that a person with my blood pressure or high cholesterol stands a better chance of surviving a heart attack than someone with a clean bill of health? really? it s a new study in our medical a-team segment coming up next. so who ordered the cereal that can help lower olesterol
they re working the weekend just like us. the congressional super committee. they re racing to craft a deficit reduction deal. they have till wednesday. now, many economists are predicting dire consequences if they fail. there s no indication that they re even close to an agreement. if they don t have one, there could be a u.s. credit downgrade. another one. what will that mean for the fashion, for our economy, and our overall standing in the world? joining us now to talk about it, oliver portia, president of gary goldberg financial services. great to have you with us, oliver. thank you very much. the thing is, if they do agree, and they fix or at least reduce the deficit, it s a small amount of gdp actually that would get reduced, but it could have a huge impact on domestic markets, overall markets. yet if they don t do it, will
i m kelly wright. i m jamie colby. great to you have here. this is a brand-new hour of america s news headquarters. topping this hour, no deal in sight for the special congressional super committee. they ve only got days left until they have the legally mandated deadline. they re asked to slash more than a trillion dollars from our national deficit. republicans and democrats already talking about the possibility of a grim endgame where there would be a bottom line of harsh cuts to military and entitlement spending. and we go now to molly live in washington with the very latest about all this. molly, are we seeing progress from the super committee so far? hi, kelly. hi, jamie. you never know what s going on behind closed doors in washington and inside conversations, but both democrats and republicans on the super committee are talking about the gap that existed from day one for this group, that they just can t seem to bridge. republicans say democrats are balking at go
i m jamie colby. great to you have here. this is a brand-new hour of america s news headquarters. topping this hour, no deal in sight for the special congressional super committee. they ve only got days left until they have the legally mandated deadline. they re asked to slash more than a trillion dollars from our national deficit. republicans and democrats already talking about the possibility of a grim endgame where there would be a bottom line of harsh cuts to military and entitlement spending. and we go now to molly live in washington with the very latest about all this. molly, are we seeing progress from the super committee so far? hi, kelly. hi, jamie. you never know what s going on behind closed doors in washington and inside conversations, but both democrats and republicans on the super committee are talking about the gap that existed from day one for this group, that they just can t seem to bridge. republicans say democrats are balking at gop proposals for sp