what could be the largest municipal bankruptcy in u.s. history. good morning to you all. thank you for spending part of your weekend with us. i m t.j. holmes. we do need to start with a debate that was supposed to be over already. we are less than three days from a possible u.s. default. this clock is still ticking and a deal is not done. we are expecting a lot of action on capitol hill today. both houses in session, but whether there s going to be any real progress, that s anybody s guess. this is what we ve got going on today. the house starts debate at noon with the likely vote on a democratic proposal expected some time after 1:00 p.m. not expected to pass, however. then over on the senate side, they kick off debate on the democratic proposal around 1:00 eastern time. they could be debating that for up to 12 hours before they even vote on whether to vote. kind of a procedural vote would take place, possibly around 1:00 a.m. we did hear from president obama this morning
anything quite like this. let me explain what you are looking at. that s a plexiglass pontiac. it was built for the 1939 new york world s fair. it s being auctioned today and expected to sell for about $275,000. and from the cnn center in atlanta, georgia, this is your cnn saturday morning. glad you could spend some time here with us. i m t.j. holmes. well, you know the story by now. the world s biggest economy is on the brink of possible default. we are all watching and waiting as the fight over the nation s debt ceiling just drags on and on and on. congress has just under three days left to come up with a deal. we are live in washington to find out where things stand. and yes, they are in session this weekend. also, in this tough economy, would you believe that things are actually getting cheaper? not all things, though, specific things. and we will read them off for you this morning. but first, we need to go right back to capitol hill. both houses of congress are in