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now, the plan does not address the debt ceiling. you see the debt clock there. it ticks down to august 2nd. that s when the u.s. could start defaulting on some of its bills. it could be a jumping-off point for a bigger deal. here are some of the highlights of the plan according to cnn senate forces, it shaves about $4 trillion off the debt load. rejiggers the tax load, cuts short-term spending by about $500 billion. it changes the entire budgeting process and it reforms social security. now, this plan is not to be confused with something you heard about yet, cut, cap and balance. that s a house plan that passed last night, imposing strict limits on future federal spending. that is likely doa, probably won t pass the senate. the president is promising to veto it if it did. in about 90 minutes, the spotlight in the news corp. phone hacking scandal turns to british prime minister david cameron. he ll be front and center at the house of commons talking about his links to the mu

Good movrngU sDebt clockAugust 2ndDebt loadTax load4 trillionHouse planSocial securityLast night500 billion00 billionPhone hacking scandal turnsDavid cameronRupert murdochHouse of commons