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CNNW CNN Newsroom July 15, 2011



no agreement. nor is there an agreement on a house republican push for a much smaller plan made up of spending cuts alone. if all else fails, we may end up with an idea floated by the top senate republican, mitch mcconnell. we laid it out for you. three separate votes between now and the next elections to raise the nation s debt by $2.5 trillion, and there would be $1 trillion in spending cuts and a special congressional panel to shore up entitlements, and the up side supposedly for republicans is keeping the issue alive for another year and blaming the president, who, by the way, is not ruling it out. it s constructive to say if washington operates as usual and cannot get anything done, let s at least avert armageddon. that s i m glad that people are serious about the consequences of default. i want to bring in my colleagues from the white house. dan, to you first. the president says the negotiations have not been ugly, as some have claimed, and he still has hope ....

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