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Transcripts For CNNW AM Wake Up Call 20110725



i ve never taken my last offer off the table. and they ve never agreed to my last offer. boehner says house legislation needs to be posted on-line today and voted on on wednesday if they want to raise the debt ceiling by the august 22nd deadline. timothy geithner is the guy who might not have the money to pay the country s bills on time. here s what he told cnn s candy crowley on state of the union. what we cannot do, this is very important, it would be irresponsible, is to leave the threat of default hanging over the american economy for a longer period of time. back in january, more than seven months ago, we started this process of working with the congress to get them to raise the debt limit so we could avoid a default crisis. it s taken us seven months. we re not nowhere, but almost out of runway. geithner says it s okay to do this in stages, raise the debt ceiling with spending cuts now and work out broader tax reform next year. but you heard him say that g ....

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