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what could be the largest municipal bankruptcy in u.s. history. good morning to you all. thank you for spending part of your weekend with us. i m t.j. holmes. we do need to start with a debate that was supposed to be over already. we are less than three days from a possible u.s. default. this clock is still ticking and a deal is not done. we are expecting a lot of action on capitol hill today. both houses in session, but whether there s going to be any real progress, that s anybody s guess. this is what we ve got going on today. the house starts debate at noon with the likely vote on a democratic proposal expected some time after 1:00 p.m. not expected to pass, however. then over on the senate side, they kick off debate on the democratic proposal around 1:00 eastern time. they could be debating that for up to 12 hours before they even vote on whether to vote. kind of a procedural vote would take place, possibly around 1:00 a.m. we did hear from president obama this mo ....
she shun the media spotlight or will she try to capitalize on her supposed fame? i m wolf blitzer. you re in the situation room. president obama back at the bully pulpit for the second time this week to make sure ameripay bill. he went before reporters to keep pushing raising the debt ceiling limit before the august 2 deadline. he seems to be softening his terms somewhat. let s go to the white house. our correspondent dan lothian has the very latest. he said it time for law makers from both parties to make tough choices. he says he s been willing to put entitlement programs on the table, but even so, there s no deal tonight. and some republicans are saying it s time for the president to put his own plan on the table, not make another speech. president obama still thinks the so-called big deal option is the right deal. what s important is that even as we raise the debt ceiling, we also solve the problem of underlying debts and deficits. i m glad congressional le ....
show you its powerful punch in many forms. right here the pace of change is slow yet certain. last night we showed you the spillway from above a helicopter ride. the gates open toded to the gates open toded t divert wr away from mississippi. now the water is rising slowly as you see it. you see the rails that go up behind my shoulder. nose are normally dry. that s the edge of the river. it s rising more slowly than the engineers originally predicted. the folks were told by the mississippi crests near here next tuesday many of the homes could be underwater. dwayne moved here four months ago for the peace and quiet. he likes the birds and the schools. a lot of broken hearts right now. a lot of broken hearts. but in the back of our mind we all knew that it would happen. we just didn t know when. so we just, like i said, we just deal with it. that s all we can do. tonight there s a bit of a mixed message from political leaders. on one hand they re pleased with flood con ....