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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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