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conditions apply. tropical storm lee tearing through the gulf of mexico. this is what it looks like for oil rig workers, look at this, leaning almost 45 degrees into the wind, holding on to a railing for dear life to find out how fast the wind was blowing. on land, lee is a major flood maker. some parts of louisiana have already gotten more than ten inches of rain. that amount could double in some areas. great to see you. i m susan hendricks in for don lemon. you are in the cnn newsroom this labor day weekend. some of you are here on the gulf coast, feeling the impacts of a very slow moving storm named lee as it rolls north towards the tennessee valley. one thing is certain, it will be a soggy holiday across the south and up and down the east coast. the northeast is still reeling from the hurricane aftermath of irene. it is going to feel it, too, in the coming days with lee. if that isn t enough, another hurricane is building strength in the atlantic as well. a lot go ....
situation room starts now. thanks very much, brooke. happening now, republicans pouncing on president obama and a horrible new unemployment report. this hour, the numbers and the politics and what it all means for millions of americans who need a job now. plus, i ll talk to a republican congressman who plans to boycott the president s big jobs speech before a joint session of congress next week. also, a new worldwide travel alert as we approach the tenth anniversary of 9/11. national security insiders tell us what they know about the risk of a terror attack. revenge, as far as al qaeda is concerned on that momentous day. and a statue honoring one of the most important figures in american history, made in china. controversy surrounding the dr. martin luther king memorial. i m wolf blitzer, you re in the situation room. it s a big fat zero, and it s a bright red circle around the unemployment mess in this country right now. the government reports today that no new j ....
life and why time may be running out. i m wolf blitzer. you re in the situation room. the sinking feel is back on wall street. the breaking news this hour. all major stack indices with the dow down 500 points. once again, we saw dramatic fluctuations over the course of the trading day. one analyst says, and i m quoting, fear and greed are driving this frantic cycle of buying and selling and that s costing investors trillions of dollars on paper. joining us now, richard quest. what is going on in europe right now that could drive down wall street so quickly, so dramatically. tt markets are feeding on themselves. the problem in europe concerned france and fears that france may lose its own aaa rating. that has been denied by the rating agencies. and secondly some french banks may be in trouble. they came out and said rumors were founded, but it doesn t really matter in this market. the rumors were a toll was taken. europe fed into the u.s. the u.s. fed back to europe. ....
veterans group there at pennsylvania avenue being briefed on what could happen to their ranks if the debt ceiling is not raised. also cnn is learning some states making contingency plans. california specifically taking out a temporary $5 billion loan just to help pay its bills in case congress fails to act and turmoil in the credit market makes it difficult to borrow money after august 2nd. take a walk with me. i want to look at what exactly is proposed here. we have two different plans, two different bills on the table. one from democratic leader, senate majority leader harry reid, speaker of the house boehner there. here we go. first up, as we mentioned before, look, they definitely have similarities. first of all, both of them would cut spending. also neither plan would raise taxes. but there is one really huge difference we need to highlight. the reid plan would raise the debt ceiling beyond next year s presidential election, but the boehner plan here would raise th ....
now we know that hamza alkhalee is dead. pictures of his body are disturbing. his family received his remains. it appeared the 13-year-old had been tortured. he was mutilated. many of the pictures we ve received are too graphic to broadcast. cnn made repeated attempts to reach for comment without success. hamza s murder brought syrians into the streets. even children have joined the protests. we ll have more on dramatic developments in syria and the strongest words yet from washington in just a moment. but first, a look at the other stories we re covering tonight. what do robert e. lee and sarah palin have in common? they both went to gettysburg, one of them lost, the other may have just begun to fight. and housing prices keep falling, in some places they haven t been this low since the 1960s. edie hill asks, does the american dream get dragged down with them? then the sheriff of arizona, he deported 25,000 illegal immigrants, and now he wants to take his wild wes ....