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that s the house tonight passing h.r. 2560, better known as cut, cap and balance. now it s a republican and tea party sponsored measure calling for massive spending cuts, a spending cap, and congress passing a balanced budget amendment. only then would the debt limit be allowed to go up, ending the current crisis. the measure was passed with just five democratic votes. senate democrats say they ll defeat it. if somehow they fail, president obama says he ll veto it. in other words, it s doa which is why a lot of democrats are calling it a stunt and a waste of time. earlier today a bipartisan group of senators called the gang of six came out with a proposal of their own that is being taken seriously, including at the white house. and so for us today, democratic fors acknowledge that we ve got to deal with our long-term debt problems that arise out of our various entitlement programs. and for republican senators to acknowledge that, revenues will have to be part of a b ....
reconsiders laying on the table. that s the house tonight passing h.r. 2560, better known as cut, cap and balance. now it s a republican and tea party sponsored measure calling for massive spending cuts, a spending cap, and congress passing a balanced budget amendment. only then would the debt limit be allowed to go up, ending the current crisis. the measure was passed with just five democratic votes. senate democrats say they ll defeat it. if somehow they fail, president obama says he ll veto it. in other words, it s doa which is why a lot of democrats are calling it a stunt and a waste of time. earlier today a bipartisan group of senators called the gang of six came out with a proposal of their own that is being taken seriously, including at the white house. and so for us today, democratic fors acknowledge that we ve got to deal with our long-term debt problems that arise out of our various entitlement programs. and for republican senators to acknowledge that, rev ....
allow the president to raise a debt ceiling and avert crisis. a vote on that could happen this week. the fallback plan would likely pass the democrat-controlled senate but face a bigger challenge in the house where republicans hold the majority. let s get the latest with brianna keilar. are we any closer to a deal? on a deficit reduction plan, kyra, it doesn t appear so. no announced meetings between the white house and congressional leaders over the weekend, there were staff-level meetings and a lot of focus has to do with this fallback plan you mentioned. it s sort of the brainchild of the center republican leader, mitch mcconnell, working out some details with the senate majority leader harry reid. essentially, it would give the president for all practical purposes the ability to increase the debt ceiling with really just a minority of support from congress. it would allow congress to voice its disapproval and this is something that the president would have to do i ....
at the fukushima daiichi nuclear power plant. they praised the response at the plant as exemplary. the power plant was badly damaged after a quake triggered a tsunami in march. former bosnia serb commander is now awaiting charges at the hague. he s facing war crimes of the massacre of 8,000 men and boys in 1995. after 16 days in space, shuttle endeavour is back on earth. nasa s 30-year shuttle program will come to an end after the launch of atlantis in the coming weeks. those are the headlines. world business today starts now. good morning, from cnn london, i m nina december santos. good afternoon from cnn hong kong. i m andrew stevens and you re watching world business today. the top stories this wednesday, australia suffers its biggest economic squeeze in 20 years after severe flooding soaks the mining industry. mixed fortunes in the tech sector. apple had its head in the data cloud wu nokia is feeling under the weather. and doubts, mistakes and regr ....
bodies of those killed in a devastating tornado almost one week ago. just ahead, one of the coroners involved in the daunting and grisly task. and clash of conservative men for the race for the white house. will it be sarah palin or michele bachmann? i m candy crowley and you re in the situation room. first to the u.s. investigation into osama bin laden and dramatic new clues revealing that he may have been trying to reach out to pakistan for protection in the years before he was killed. this comes as hillary clinton paid a visit to the country in a new effort to ease tension in the wake of bin laden s death. chris lawrence is at the pentagon with all of the details. chris? candy, all of this is coming out of the massive treasurer trove of intelligence that the navy s.e.a.l.s pulled out of bin laden s compound. this revelation is fascinating in that it really reveals one of the ways in which osama bin laden thought about trying to evade u.s. detection. documents sei ....