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Transcripts For CNNW CNN Newsroom 20110730

meeting between the president and his top party leaders in congress? reporter: as far as we know, the president is meeting right now with senate majority leader harry reid and with leader pelosi from the house, the leader of the minority in the house. and we don t have details on this yet, it s a closed press meeting, meaning we didn t even get our pool cameras inside to get a glimpse of this, but we know from a white house official that they are meeting here at the white house and we re hoping to get at least a notification when that all wraps up. white house officials saying this is to update the president on around these debt negotiations and what we re really seeing, and this is part of it is a flurry of negotiations going on and this all kind of follows some cab book i can theater playing out on the bill. we saw the house vote on the boehner bill and the senate picked it up and the boehner bill failed in the senate and we saw the house vote on the senate bill t reid bi

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Transcripts For CNNW CNN Newsroom 20110729

really aren t too terribly far apart and the deal can be done by the august 2nd, tuesday deadline. let s listen to the president, this is when he spoke around 10:30 this morning. let s listen. good morning, everybody. i want to speak about the ongoing and increasingly urgent efforts to avoid default and reduce our deficit. right now, the house of representatives is still trying to pass a bill that the majority of republicans and democrats in the senate have already said they won t vote for. it s a plan that would force us to relive this crisis in just a few short months, holding our economy captive to washington politics once again. in other words, it does not solve the problem, and it has no chance of becoming law. what s clear now is that any solution to avoid default must be bipartisan, it must have the support of both parties that were sent here to represent the american people. not just one faction. it will have to have the support of both the house and the senate, and

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