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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 inevitab

1 2Reid planHarry reidCongressional budget office50 billion850 billion7 trillion2 7 trillionHouse speaker boehner2 trillion2 trillionAarp medicare supplement insurance planHouse republicansTime marches onU sCnn international