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debt ceiling deal is reached. there are many moving parts. we have details on to phone calls happening as both sides iron out the details. congressman, richie torres, from new york, joins me for moments when we break down what we know. good day from msnbc world headquarters in new york, welcome to alex witt reports. i m in for alex today. we begin with breaking news. a lock happening on capitol hill this hour. white house officials and house republicans are preparing for a call any minute now. their calls between president biden and speaker kevin mccarthy. house republicans are than expected to release the full text of the debt ceiling agreement negotiated by both sides. at five p m today, democrats will get a briefing on the agreement from white house officials. here is some of what both sides say is in the deal. it raises the debt ceiling until 2025. it cuts 1.5 trillion and spending. it increases defense spending. as new work requirements for some government programs ....
a lot of people are frustrated and scared. it s scary for the world, i guess. i anticipate there will be a lot of moving money to the bigger banks. neil: unbelievable. believe it. fox on top of it. a banking mess in the making and still messy. three banks have technically collapsed this month. actually in just the past week. so far fears of a contagion are not taking held. here s what we know. customers are nervous, make that very nervous. officials aren t helping matters in when they say don t worry. we ve got this. do they? we ve got you covered with kelly o grady outside silicon valley bank branch where customers have been lining up. peter doocy in san diego where the president is trying to tamp fears down. peter, what are traders watching? none other than carl icahn on where this crisis could be heading. welcome. i m neil cavuto. so much happening today in real time fast time market conditions. let s go right now to kelly in los angeles with the very latest fr ....
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Bank collapse. the bot ceo kind enough to join us now. sarah, play through when you first got wind of what was going down at silicon valley and how then it impacted you. well, i mean, it was thursday morning when you read the news before my school run with my 5-year-old. i was in my silicon valley hat listening to the news getting texts from my colleagues and my fellow entrepreneurs. felt surreal. like what are you talking about? what does this mean? in hours you see the biggest b.c.s on the planet say pull your money out. it was like what? neil: you re talking ant venture capitalists saying get out of dodge fast, right? yeah. neil: you didn t have that time? no. i mean, by the time you start making moves and trying to understand what is really happening and where you go, what ....