and bank of america down, as well at 2.65 percent. what is the latest from the white house? they push for a big deal but the clock is ticking. so we learn that yesterday morning president obama met privately with the top two republicans in the house of representatives, speaker john boehner and house majority leader cantor, the republicans are saying there was not a major breakthrough or serious progress made. a lost questions about what this week means because senior officials at the white house are telling us weeks ago this was, really, crunch time. the window of opportunity from the 15th to the 22nd, and today i asked carney about the significance of this point in the calendar. it is not a hard deadline but congress, the administration, all of us working together, need to move this ball down the field this week. reporter: that is the perspective from the white
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,
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 government programs. and investors say debt worries 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, and bank of america down, as well at 2.65 percent. what is the latest from the