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CNNW CNN Newsroom July 27, 2011



spending cuts in ten years. reid would hike the debt by $2.7 trillion now and mandate an equal amount of cuts. but the congressional budget office says the boehner plan would trim spending by $850 billion, and the reid plan by $2.2 trillion. boehner went back to the board and postponed the vote that was supposed to happen today. reid s plan can t pass the house, and not only is boehner s plan doomed in the senate, a great many house republicans don t like it either. so what happens now? well, time marches on. a never-before-seen default on u.s. debt and obligations could be just six days away, but potentially just as bad would be a downgrade of debt, and a downgrade that would say we are not reliable as we used to be. that could up the cost for borrowing for all of us. here is richard quest on cnn international, and the smart money still says default will be averted, but downgrade, is it inevitable, are foreign investors alarmed? no, it s not inevitable. nothing is in ....

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CNNW CNN Newsroom July 13, 2011



rupert murdoch under fire in britain and in the united states. two separate u.s. agencies calling for investigations into rupert murdoch. have you heard this story? an 8-year-old boy kidnapped, murdered, then mutilated. now new york place are scouring a stream of surveillance video for answers. more on that. first, i want to begin with this. let s just plunge right into the debt negotiations at this hour. daily talks at the white house resume in one hour, and by all accounts, they are becoming more tense, more heated, more testy, the closer we get to the deadline. you know the date by now, august 2nd. august 2nd, a potential default of the u.s. treasury if congress will not approve more borrowing. joining me now from the u.s. capitol building is congressman paul brown, republican of georgia. congressman brown, nice to see you. good to have you on. it s nice to be with you. i don t believe the august 2nd deadline frankly, and we don t default even if we pass the au ....

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