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-- -- the date on all the developing news stories in the day in the meantime the fate of the nation's economy hanging in the balance today as pressure to raise the debt ceiling builds on Capitol Hill.
We're so glad you're with the today I'm generally.
And I'm John Scott it could be the defining moment of house speaker John Boehner -- career after dropping out of talks with the White House He is going for a Republican only house led effort.
That would nail down spending cuts and raise the debt ceiling by August 2.
Right now we're awaiting a -- the vote from the Boehner bill on the house that's a series of votes to get an actual vote on the bill to seventeen.
Is the magic number for passage when that though it actually happened.
That means Republicans could lose 23 of their own in the house and still pass the bill without any democratic votes whatsoever.
No Democrats are expected to vote yes on the thing the White House giving in -- good indication of where it stands on the speaker's bill a short time ago.
What we need to do is get beyond you know voting on dead on arrival measures that are gonna become law when we have so few days left to reach a compromise.
We need to get that.
I kind of political theater out of our system and get to work on something -- can actually pass both houses -- bipartisan support and be signed by the president.
-- -- -- So the president's spokesman Texas senator Kay Bailey Hutchison is the ranking Republican on the commerce committee and joins us now what do you make of that statement from -- Jay Carney senator.
Well I think the White House kept out of the picture now and I think that.
What we must do in congress is put together a package between the Democrats and Republicans in congress.
And tended to the president for signature.
I've always heard that you know compromise leaves almost.
Nobody happy it seems like a lot of Democrats.
Aren't particularly happy with what's in the Boehner bill but a lot of Republicans are particularly happy with it either does that potentially make it a good thing.
Well I think that with the time deadline that we're facing so close.
That none of that they're going to be completely happy with what guys do I do think we have a common goal.
Of raising the debt ceiling with significant cuts dollar for dollar cut and I think that they've -- He's -- saying.
Among Democrats in the senate and Republicans in the senate.
So I think we have a basis to move forward -- they cut for cut.
Debt ceiling lifting can go forward but then we have the opportunity before the end of the year under the proposed -- -- Speaker Boehner has put forward and also I think would be acceptable in the senate to look at the long term cuts that are necessary to make it better.
You are not running for reelection yourself but here is what Republicans say they say the White House.
Once some kind of a debt ceiling deal that's going to put off another vote on this very painful and as we can see argument -- issue.
Until after the next presidential election do you see it that way.
I think that is -- I think the president is forcing something that would.
Go into the after the election process which we -- the board if we had.
Real cuts that would achieve that kind of increase but so far the White House that there's nothing out.
-- -- And so we are going to try to hammer something out with Republicans and Democrats and I think in this.
Short timeframe we're certainly not going to get to two point seven trillion we're going to be more in the one trillion.
I want to ask you about something Jay Carney said from the podium there at the White House just a short time ago.
He essentially characterize and of course this is a very broad paraphrase but He essentially characterized the Republican approach.
To this issue this way and I won't wrote down a quote He said.
I am gonna blow up the economy if you don't do what I want.
-- it would seem.
Is that the White House you know.
Well let me get your you let me get your take on what He had to say that quote personal.
Well it if he's talking about the president blowing up the economy.
Companies started selling it He seemed to be saying that Republicans are holding the White House hostage.
And and saying if you don't accept are planned as a whole we're gonna blow up the economy that's what He seemed to be said.
Well the Republicans.
Have been at the bargaining table they have offered concessions and they've offered.
So many opportunities for compromise but the president basically.
Agree to anything and there was never anything concrete from the president I think the lack of leadership and even the timing of the leadership He didn't even get into this.
Until two weeks ago.
He should've been starting on that in January He knew this.
Debt ceiling had to be raised and He would not being helpful with the budget He put forward it was a lead on 2011.
Spending which is an elevated spending level because that.
His stimulus package.
I think that He needed to come to the table earlier and provide leadership and I think now congress is saying well we're gonna have to use something short term and hopefully Mr.
You're not going to blow up the economy and your own administration's senator Kay Bailey Hutchison Republican of Texas senator thank.
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