American Morning
What possible plans are lawmakers negotiating to raise the debt ceiling?
Consultations will continue today about a possible deal that would raise the debt ceiling and cut $3 trillion from the federal deficit after word spread last night that a possible deal is being negotiated between President Barack Obama and House Speaker John Boehner.
Spokesmen for Obama and Boehner have denied that a deal is imminent and both lawmakers still have to sell the deal to members of their own parties.
Republicans generally have opposed any tax increases while Democrats have balked at proposals that would cut too deeply into entitlement program spending.
Ron Brownstein, CNN senior political analyst, joins American Morning today to discuss what possible plans are on the table and to weigh in on the status of the negotiations.
What will happen if lawmakers fail to raise the debt ceiling by August 2nd? Jay Powell weighs in
With the August 2nd deadline to raise the debt ceiling just eleven days away, efforts to avoid a potential U.S. default have entered a critical phase.
Many fear that failing to raise the debt ceiling would send shock waves through the underpinnings of the financial system, adding urgency to the negotiations between President Barack Obama and top lawmakers as they continue to try to strike a sweeping deficit-reduction deal.
Today on American Morning, Jay Powell, Treasury Under Secretary under President George H.W. Bush, tells Ali Velshi what he thinks will happen if a deal isn't reached within the next few days and explains what the consequences will be for the average American if the debt ceiling isn't raised.
Political panel: How are lawmakers reacting to the McConnell/Reid budget plan?
On Thursday, President Obama told congressional leaders that he expects them to consult with their respective caucuses and find agreement over the next 24 to 36 hours on how to proceed with the debt talks.
The President is scheduled to hold a news conference at 11 a.m. today to provide an update on the status of the negotiations - a subject which has brought partisan tempers to a boil over the past week.
Today on American Morning, Jim McLaughlin, GOP strategist, John Avlon, CNN political contributor, and Maria Cardona, Democratic strategist, weigh in on how they think the talks will progress.
Rep. Jim Jordan: 'We are not going to raise taxes'
With President Obama and GOP congressional leaders in a stalemate over a deficit-reduction plan necessary to raise the nation's debt ceiling, two of the "Big Three" global credit rating agencies–Moody's and Standard and Poor's–announced yesterday that they were considering downgrading the United States' credit rating.
Moody's cited the "rising possibility" that the U.S. debt limit will not be raised in time to avoid default.
Representative Jim Jordan (R-OH), president of the Republican Study Committee, talked with Ali Velshi on American Morning about the potential downgrade, Representative McConnell's proposed plan and why he is pushing for a balanced budget amendment.
Is the Tea Party's influence on GOP holding up a debt deal?
President Obama and lawmakers from both parties will meet again today to try to hammer out a deal on raising the nation's debt ceiling. Republican leaders have refused to consider any tax hikes, and now the President says if there is no deal before the August 2nd deadline, he can't guarantee social security checks will go out on time.
Some say the Tea Party's influence in the GOP may be standing in the way of a compromise.
This morning on American Morning, Kiran Chetry and Ali Velshi talk with Dick Armey, who has been called the "godfather" of the Tea Party. He's a former House Majority Leader and is now the chairman of Freedom Works. He explains why it's important that lawmakers focus on spending cuts during the negotiations.
How the debt talks are affecting small businesses and why they're not hiring
Calling it a Main Street rather than a Wall Street issue, business groups and investors warned the White House yesterday that lawmakers need to act quickly to raise the debt ceiling.
The Business Roundtable sent a letter to lawmakers saying that a failure to raise the debt limit would cause widespread fallout in the global financial markets and raise the costs of financing mortgages, auto loans, credit cards and student loans.
David Martin, President of Home Style Foods and Clint Greenleaf, Chairman and CEO of Greenleaf Book Group, join Ali Velshi today to discuss the budget debate and to explain how their hiring and expansion decisions have been influenced by the negotiations.
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