borrow more money. more miles to go because it will the only reason we've come to this is because it's a soon be featured at the visitor' compromise if we get a balanced center here at the kennedy space budget. bill: okay. here is what we have in on our center starting 2013 to see up fox news polling. public opinion is firmly against close and personal what a space raising the debt ceiling. shuttle looks like. only 35% favor raising it, 60% let me tell you, they are quite are against it. large as certainly was evident doug mckelway's got a busy job for the space shuttle crew, three men and one woman. on the hill today with a lot to they all got their medical follow. what can we expect? take it a bit slow, doug, good checks after landing, wheels stopped, and they walked out morning. [laughter] onto the tarmac and did not look >> reporter: i'll try to. all very complex up here. too sluggish there with the one of the first orders of adjustment to earth gravity. business in the house is not specifically related to the debt they are all looking underneath the shuttle and taking it all ceiling crisis, but it's going to send a message to the rest of in. the commander spoke and said the country about whether or not just because the shuttle program the house is ready to put its is retiring forever, it does not money where its mouth is. mean necessarily that our dreams the house will begin debating on of space exploration should be what's called the legislative branch appropriations act of mothballed. >> i want that picture of a 2012. young 6-year-old boy looking up this would cut the house budget by 6%. begin, it's not specifically -- at a space shuttle at the museum again, it's not specifically and say, you know, daddy, i want related to the debt crisis to do something like that when i issue, but it would send a grow e up. hugely important, symbolic our country to do tan be message to the country that congress is willing to cut it own budget. tsaic -- fantastic things like now, on to the debt negotiation. this in the future. >> reporter: so the space it still appears this gang of shuttle atlantis will be here at six plan is the most likely the kennedy space center. scenario to address the crisis, the endeavor will be out in los it would cut $3.7 trillion in angeles, the intrepid in new spending, erase a trillion dollars in the revenue but not york and the discovery at the by cutting income taxes or smithsonian's museum out at corporate taxes. most of that would come through dulles international airport, and those museums will be closing tax loopholes. the trouble is it is a very, opening up in 2012 and 2013. very complex piece of legislation, and there is path president all right, phil considerable doubt up here whether or not this could be keating reporting for us, accomplished by the august 2nd thanks. bill: it was beautiful even deadline. reporters put the question to jay carney yesterday about though it was before dark. whether the president would be here is one of the many willing to accept some kind of pictures. an extension, some kind of a this is so cool. patti ann: it is. bridge to get them through that bill: one of many that was sent august 2nd deadline. here's carney's response. out by nasa. >> obviously, if both sides agree to something significant, it's a weird time, the only time we will support the measures in our adult lives. needed to finalize the details of that, but as you saw jack lew patti ann: exactly. bill: the only way to get a man over the weekend made clear that or woman in space is to rely on because we know what we're talking about here, if there's a the russians. willingness -- and we believe we are in unchartered territory there's a growing willingnd on here. patti ann: yeah. capitol hill -- if there's a when it goes commercial, it's interesting. and a lot of people down there, willingness to do something significant and comprehensive and balanced, we can get that interesting time for them. be bill massa's going to -- done within the time frame. >> reporter: so a little bit nasa's going to hold its first ambiguous right there, but carney later issued a bit of a press conference, so we'll tap into that too. we're at a critical moment clarification. he said the president would be to cut, cap and balance. willing to accept a short-term increase on the borrowing limit does it stand a chance in the if leaders reach agreement on a senate? republican senator jeff sessions significant deficit reduction will react to that. patti ann? plan. so a lot of ball juggling. patti ann: also, a birthday gift bill: yeah, well stated. takes a horrifying turn. doug mcelway on the hill. suspended 80 feet in the air for what kind of trouble are we with three hours. that story coming up. truly in, america? >> really hit me, reality hit me the federal government has spent there was a couple that had more than it has taken in for 69 walked in as soon as we shot out, and they were sitting there of the last 80 fiscal years. watching us go up and down, and we have racked up about $6.2 then i saw this gentleman escort him out. trillion in debt over the past at that point, i knew i was in decade. the u.s. debt is equal to china trouble. and japan's economies combined. this year the government will spend more than $125,000 every second we breathe. stuart varney from the fox business network. i don't know where to start on that thing. i mean, per second 126 grand? >> look, you've laid out the history of our spending and accumulation of debt binge. the point is as of right now it's getting much worse. this accumulation of debt and the spending has gotten much worse just in the last couple of years. for example, on the debt side of the equation we had, we now have a deficit which is ten times lance larger this year than it was in the year 2007. on the spending side, we simply exploded the spending. the stimulus plan, rapid increases in the government spending overall have left us spending $1.6 trillion more than we're actually taking in. the result is that no matter what they cut in these debt talks that are going on now, by the end of this decade we will be $20 trillion in debt. despite any cuts that are promised today in these debt talks. $20 trillion in debt, that puts you in the greek territory, bill. bill: um, that's frightening. >> yes. bill: also, if our debt is equal to the combined economies of japan and china taken together, what does that do for our standing in the world, stu? is. >> well, our standing in the world, in my opinion, is about to take a hit. i think we are going to be downgraded. that is a downgrading of our debt, that's a technical term. what it means is our financial reputation will be taken down a couple of notches. right now we are aaa people, we are the gold standard for the world. we're going to be taken down a notch if, and i believe when we get a downgrade from these ratings agencies. our standing in the world is diminished, period. bill: you're going to pick up more on this, stuart, so we'll check you out over there on our sister network. thank you, stuart. six minutes past the hour. patti ann? patti ann: breaking news on the economy, and it's not good for out-of-work americans. the labor department reporting new claims for jobless benefits are up again, 418,000 new people filed last week. the disappointing number is new ed that layoffs -- evidence that layoffs are on the rise. bill: so we got some new polling just in on the race for the republican nomination. former massachusetts governor mitt romney continues to dominate the field. there is vulnerability there because his support said to be tepid be among tea partiers. the poll highlights how open the contest truly is. sarah palin and rick perry in the top five even though neither of them has entered the race. 18% for palin, 12% for bachmann. patti ann: and michele bachmann is responding to reports of her history of migraine headaches, releasing a report saying they are infrequent and controlled by medication, but that has not stopped this from becoming a campaign issue. carl cameron caught up with bachmann in iowa. >> reporter: i had a chance to talk with mr. pawlenty this morning, and we were talking about the migraines issue. he said, if you're going to be president of the united states, you've got to be able to do the job all of the time suggesting that having missed bouts or having some -- missed votes or having some bouts you weren't up to it. >> well, last night i was in washington, d.c., and i was leading on the issue of the debt ceiling. i voted no on increasing the bill: 9:30 in washington with a debt -- >> good to see you. >> tea-part i debt plan. patti ann: meanwhile, romney says bachmann's health should the. cut, cap and balance bill passed not be an issue in the campaign. several republicans are the house. demanding that allen west apologize to debbie wasserman-schultz. senator sessions, good morning he responded by e-mail saying she's no lady and, quote, you to you. does this live another day or are the most vile, unprofessional and despicable does it die right there on the member of the u.s. house of floor of the senate? representatives. >> we'll have a vote tomorrow peter doocy is live in from what i understand on the washington. hey, peter. cut, cap and balance bill. it what reduce spending now with has congressman west backtracked at all on that e-mail? >> reporter: no, patti ann. cap spending for the future and and, actually, when he said the pass a constitutional amendment congresswoman was not a lady, it appears he meant it because he is not backing down, and he is not apologizing. to do what states do and live >> i have not received an within our means. apology, i haven't received a when i came here 14 years ago we phone call. i know he has my e-mail, i voted within one vote of passing haven't gotten an apology on my a constitutional amendment to e-mail nor on my fax machine in my office. require our budget be balanced. >> reporter: well, she can probably stop because west is this country would have been in waiting for wasserman-schultz to much better shape had that vote say that she's sorry. been passed. bill: imtold you don't have the in fact, we're waiting on an apology from her is what his votes in the senate. spokeswoman says. they are saying you have got a he's still upset that she called him out on the house floor gang of six. saying she couldn't believe a we have a gang of 234 over fellow floridian could ever there. if it dies in the senate, it support the cut, cap and balance appears the gang of 6 idea, it bill. he talked to kevin mccarthy, starts to emerge. and all is fine. patti ann? patti ann: well, meanwhile, >> it's the suggestion of the wasserman schultz's female colleagues are weighing in on day. i am concerned they have been this. what are they saying? >> yeah. a handful of democrats held a meeting all year and have produced a series of talking points that cannot be analyzed press event, and they basically and scored. took turns says it appears it raises taxes wasserman-schultz is a lady and west is wrong. >> sticks and stones will not clearly despite what my good break this congresswoman's friend senator conrad said bones, and neither will earlier, it raises currents tax congressman west's blackberry. rates by $1 trillion. >> he really should apologize. it appears it cuts spending by i think that it's only due, and if he refuses, he should be asked to do so, um, by the house 1.2 trillion. this is an insufficient leadership if he refuses to do response. the problem we have in it on his own. washington is the surge of >> reporter: those women also sent a letter to gop leadership spending that's going on. we increased non-defense asking them to disavow mr. west. discretionary spending 24% in they're also asking for money to the last two years. this is where we have got to gin up support in their base which west is doing as well. focus. we can't ask the american people he's saying that wasserman to send more money to bail out schultz is an attack dog, and he's asking people to send him $25 or more. reckless spending in washington. patti ann: peter doocy, bill: you mentioned senator interesting. thank you, and happy birthday, i conrad, he's part of that gang believe. >> yes, thank you. of six. he was on our program yesterday. [laughter] patti ann: so what will congressman west say next? i want to play a little bit of he's going to be here on what he had to say. "america live" today during the it seems like this is right in 2 eastern time hour. your wheel house. bill: also on fbn coming up >> because the way we are doing it is to broaden the base, shortly. peter doocy's like 50 today, isn't he? patti ann: or 5ment. reduce the exemptions, he can bill: happy birthday, peter. collusions and credits in the code and actually reduce rates. those are just some of the stories so far in the newsroom. democrats are saying republicans are trying to cut the debt on in addition we eliminate the at tern tough minimum tax which is the back of seniors. new details, though, on a plan threatening middle class democrats are pushing that would taxpayers by the tens of send medicare premiums, some millions in this country. argue, through the roof, up by bill: he went on to argue you about 40%. have got to get a compromise patti ann: meanwhile, a new somewhere to get the deal done. bombshell in the casey anthony but broaden the tax base, reduce case. what the prosecution never tax rates. revealed during the trial. the revenue increased by a geraldo rivera has that trillion dollars according to this plan, a staggering amount exclusive, he'll join us live. of money. bill: and some are saying it's but it would come from different the stifling face of america. areas. i know a lot of people have been 32 states under a heat advisory pushing that. warning today, what's been why is that not attractive to called a heat dome. you to broaden the tax base. we'll tell you where that is, it >> simplifying and reducing sits over a big portion of the rates is a good goal it's hard country. stay cool. to say you are reducing rates >> i'm hot and sweaty. when you acknowledge your net >> it's like sitting in a sauna all day long. taxes are going up $1 trillion >> hot and tired. it makes you, you know, lose over what's being paid today. your energy quick. so that's the little [ male annocer ] things seem better with travelocity's best price guarantee. gamesmanship, i think. bill: you don't believe it. it goes back to the left pocket, right pocket in your view. >> we need days, we need 7 days to be able to analyze it after we have got legislative language. we don't have legislative language today so the bill is anything the sponsors say it is. i think it's not ready yet. it has ideas that i think could have bipartisan support. i slowt them for the hard work they have done. but i'm not sold yet and i think all of us should see the fine print to complete legislative language before jumping too high. bill: if you are going to remake the tax code that's a high order, i understand that. bill: where do we settle on in your view? >> i think what we need to do probably right now since we clearly have no real consensus about how to proceed, really the democrats have not produced a budget in 812 days. the president's plan was totally unacceptable. they are not publicly engage on serious plans except this gang of six which isn't the president's real plan. i would say we need perhaps a short-term extension with reduced spending to pay for it, and as we continue to talk about what to do. bill: that's interesting -- >> i don't think we should run the risk of hitting the debt ceiling and having major cuts because that would be disruptive. we -- the responsible congress should be able to come up with a short-term solution and avoid a real problem. bill: thank you for your time. i'm out of time but we'll talk again. that cut, cap and balance proposal breaks count following way. fit calls for $3.6 trillion in spending cuts. it would gradually cap spending over the coming decade. right now it's 24% of the economy. that would bring it to just under 20%. congress would have to approve a constitutional amendment before our girl's an architect. increasing the budget. our boy's a genius. patti ann: sweltering we are awesome parents! biddly-boop. temperatures are blanketing states all the way from the [ male announcer ] if you find a lower rate on a room you've booked, plains to the northeast. we won't just match it. excessive heat watches and we'll give you $50 towards your next trip. warnings are in effect. [ gnome ] it's go time. 22 people are believed to have died. the triple digit temperatures are especially brutal for those who have to work outside. >> reporter: how hot is the asphalt when it comes out of that chute? >> i believe it's 300 degrees. patti ann: minnesota's state government is back in business. >> it takes your breath away. democratic governor mark dayton signing a budget deal ending the it's hot, sweaty, gross. neigh's longest state government shutdown in a decade. patti ann: heather is outside >> it destroyed minnesota's our new york city heated quarters, staying cool out reservist standing for a state of responsible government and a there, heather? balanced government and one that's not going to be hijacked by the tea party intransigence. hi, heather, how's it going out patti ann: republicans have there? >> reporter: 33 states and temperatures topping out at 100 stood their ground on not raising taxes, but minnesota's degrees. the heat is definitely on across budget deal relies on borrowing, the country. so leaders on both sides of the here in new york it's about 84 isle concede -- aisle concede degrees at this point. but the heat is expected to top out in the midwest today. the eastern portion of the coming years. country where the heat is on bill we have a new analysis that today and tomorrow. says seniors would play a lot more for prescription about 1,600 miles affected, heat medication. that conclusion, my next guest argues, would force premiums to jump by 40%. advisories covering from western doug holtz-eakin was the nebraska all the way to southern director of the cbo, he's also maine, the number of americans the president now of the american action forum. affected is estimated to be 140 doug, good morning to you. >> good morning, bill. million. infrastructure also affected. bill: you've crunched the numbers. we had video of a missouri how do you conclude this? >> well, there are no real bridge. this is missouri highway 44 west savings in this proposal, so the money has to come from buckling in the extreme heat. somewhere, and be it shouldn't have to come from america's businesses also affected. a lot of customers are just seniors. bill: now, why is that the case? staying home, staying inside because i thought with generic where it is cool. drugs out there, i mean, over that's the best advice. but we do have other advice for time it would continue to bring the price down which would make you as well. other tips, wear loose clothing, drugs cheaper. >> the medicare part d program light clothing outdoors. use sunscreen when you are is the most successful entitlement we have. the medicaid program is the least successful entitlement we outdoors. limit outdoor activities and have. check on the most vulnerable. this proposal, supported by that being infants and the president obama and the democrats, would bring the worst elderly. a hat is a good idea and some parts of medicaid into the part sunscreen. i have a hat out here. d program. just a hat to keep you shaded. that's just not right. america's seniors shouldn't have but the best advice. to pay for the failure of stay inside, watch fox news and washington to create economic growth. bill: now, was this loophole or get the latest on heat fine print that a lot of folks advisories all