of republicans and they call it the cut, cap, and balance plan. the bill calls for slashing billions in immediate spending, caps future spending and propose as balanced budget amendment to the constitution. but democratic leaders in congress say it has no chance. and the white house reports that president obama would, indeed, veto the plan if it landed on his desk. what happens if the president and congress cannot strike a deal on the debt? according to most experts on august 3rd president obama will have to decide what to pay. choosing among social security checks, salaries, members of the military and unemployment benefits and other rries are pummeling the stock market today off 100. but we were down more earlier. bank stocks are taking it on the children today. j.p. morgan down 12.8 percent,