American Morning

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August 1st, 2011
10:03 AM ET

Gene Sperling: 'There's more shared sacrifice in how we're cutting spending'

The White House reached a deal with Congressional leaders yesterday to avert a debt default, but not all members of President Obama's party are happy about the prospect of enacting spending cuts without raising revenue.

The deal is being heavily criticized in numerous editorials this morning, with many Democrats saying that the President capitulated on shared sacrifice.

Gene Sperling, director of the National Economic Council in the White House, joins Carol Costello on American Morning today to respond to these negative reactions and to discuss what Democrats got out of the deal.

Filed under: Budget • Debt • Debt ceiling • Deficit • Economy
July 29th, 2011
10:17 AM ET

Will Boehner be able to sway the Tea Party holdouts? Stephen Moore weighs in

In a major setback for Speaker John Boehner and his leadership team, the House was forced to delay a vote last night on his plan to raise the nation's debt-ceiling, as conservative lawmakers continued to question if the plan would do enough to reign in the national debt.

However, even if the Boehner plan does pass the House, Senate Majority Leader Harry Reid, D-Nevada, has promised that the Democratic-controlled Senate will block it.

Today on American Morning, Stephen Moore joins Ali Velshi and Christine Romans to weigh in on if Boehner will be able to get the conservatives on board and to discuss if the bill will satisfy credit ratings agencies and investors.

Filed under: Budget • Debt • Debt ceiling • Deficit
July 29th, 2011
09:12 AM ET

Will the delayed House vote on Boehner's bill happen today?

More than four hours after lawmakers in the House were expected to vote on Speaker Boehner's plan to raise the debt-ceiling, the GOP caucus announced that they were delaying the vote, revealing a deep rift within the party that could undermine the their latest attempt to avoid a national default.

The House Republican caucus then announced a previously unscheduled meeting for 10 a.m. Friday. In an indication of the seriousness of the debt-ceiling issue in Congress, Reid also announced that Senate Democrats will hold their own meeting at the same time.

David Gergen, CNN senior political analyst, joins Kiran Chetry on American Morning today to discuss what conservatives are finding fault with in Boehner's bill and to weigh in on whether or not it is expected to pass today.

Filed under: Budget • Debt • Debt ceiling • Deficit • GOP
July 29th, 2011
09:03 AM ET

Rep. Trey Gowdy on debt plan: 'I predict it will be done today'

House Speaker John Boehner was unable to muster sufficient support from the hardline fiscal conservatives in his caucus to pass his debt-ceiling plan in the House yesterday, causing the expected vote on the bill to be delayed.

Representative Trey Gowdy, a Republican from South Carolina and a Tea Party freshman, is one of the members of Congress who Boehner failed to win over last evening.

Gowdy joins Christine Romans today on American Morning to discuss whether progress was made in last night's meeting with the GOP caucus and to weigh in on what it will take for him to support the debt-ceiling bill.

"I view my job as the Congressman for the Fourth Congressional District in South Carolina is to vote the collective conscience of my constituents which is this: We have a $14 trillion problem. The notion of giving the President a clean debt increase was never going to happen," Gowdy says in the interview.

He adds, "What we'll do today, I predict will be done today, is for the third time, send a plan that raises the debt ceiling in a responsible way."

See the entire interview here.

Filed under: Budget • Debt • Debt ceiling • Deficit
July 28th, 2011
02:55 PM ET

What you can do protect your personal finances if the U.S. defaults on its debt?

Politicians in Washington seemed no closer to reaching a deal on raising the debt ceiling and trimming the budget deficit yesterday, sparking a recent sell-off in the market and causing stocks to drop as worries continue to increase that a solution will not be reached by August 2nd.

For average Americans worried about their investments and their 401k, this situation is bringing back frightening reminders of 2008.

Today on American Morning, Leigh Gallagher, assistant managing editor for Fortune Magazine, joins Ali Velshi to break down what you can do protect your personal finances if the U.S. defaults on its debt.

Filed under: Budget • Debt • Debt ceiling • Deficit • Money & Main Street • Wall Street
July 28th, 2011
01:59 PM ET

Rep. Phil Gingrey: 'I'm not on board'

Washington (CNN) - The GOP-controlled House of Representatives is set to vote Thursday on Speaker John Boehner's plan to raise the nation's debt ceiling while enacting sweeping cuts in government spending - the latest attempt to avoid an unprecedented national default and stave off potential economic catastrophe.

Some Republicans have said this will be their last, best proposal. Senate Democrats warn the plan is dead on arrival on their side of Capitol Hill even if it passes the House.

This morning on American Morning, CNN's Kiran Chetry speaks with Rep. Phil Gingrey about his opposition to Speaker Boehner's plan and why he still supports a balanced-budget amendment.

Filed under: Budget • Debt • Debt ceiling • Deficit • GOP
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