tv Americas Newsroom FOX News August 2, 2011 6:00am-8:00am PDT
>> peter: my pleasure. >> steve: anyway off to your regular job. >> gretchen: log on to for our after the show show. or tune in to kill need and friends, i'm -- kilmeade and friends. i'm filling in for brian. the battle over raising the debt ceiling facing another hurdle in washington. we await a vote in the senate on a plan that was passed late last night by the house 269-161. that bill calls for $2 trillion in budget cuts the next 10 years. republican eric cantor followed by nancy pelosi. their take as you might expect rather different. >> i think the big win for us and the american people is the fact that there are no tax hikes in this package. and i'm told that the leader on the other side of the building.
the majority leader went to the floor and indicated some how i changed my position on that. i can tell you flat out she is wrong. i insist now is not the time for us to be considering tax hikes when there is over 9% unemployment and too many people out of work. >> congressman cleaver said this is a satan sandwich. it probably is with some freeze on the side. we were forced into something in order to lift the debt ceiling. >> so you are voting for it. >> absolutely, we have to put people back to work. bill: you want fries with that? i'm bill hemmer. welcome to america's newsroom. what is that? alisyn: a thin fry? a big day in the senate. the senate vote on this debt
ceiling legislation is set for noon today. let's go to doug mcelway live on capitol hill. is there any doubt this will pass in the senate? >> reporter: this promises to be anti-climatic. the senate lacks the far left wings and far right wings we have seen in the house. there are some senators who plan to vote no. senator mike lee of utah was on fox news expressing his discontent with this bill. we can probably expect a no vote. also probably senator rand paul of kentucky, maybe ron johnson of wisconsin. so no votes there but certainly not enough to change the course of this thing being signed by the president later today. alisyn: the debt ceiling has been raised 40 times in the last
30 years. how does today's vote change the course of politics in d.c. >> it's difficult to overstate how much this has changed poll nick d.c. when congress comes back it will be looking at the end of a fiscal year the even of september. this super committee which starts to organize in the fall will be looking at $1.5 trillion in cuts. very, very difficult dede significance --very, very diffis to make. senator jim demint spoke to the tea party and the senate floor. >> there is no one tea party. what we are talking about are thousands of citizen groups across is country who are being vigilant about their government which is what our founders asked them to be. they are not radical people. they are center common sense people, and they understand what we are doing here in washington
is about to destroy the country. >> reporter: the bottom line is as a result of the tea party, the days of big spending in washington are over. and if today's vote and the weeks preceding us seem very, very difficult it probably will pale in comparison to the tough budget decisions that lie ahead. alisyn: this is far from over. >> what does this mean to you? in a moment from the senate budget committee. republican jeff sessions out of alabama. mark warner of virginia will follow him. we'll ask those senators how they plan to vote today. unemployment 9.2%. alisyn: one of the nation's top union lead first warning the
debt deal with cost us jobs. the head of the american federation of municipal and state employees says it will slow down the economy and cause more job loss. 9.2% is the highest it's been since march. bill where new concerns about the possibility of a double dip recession. many think we did not get out of the first recession. latest gdp report last week. revealing the u.s. economy grew a snail's pace 1.3%. you have to be 3% to 5% to get a sustained growth. very few jobs created in june. there are some new numbers out that give further cause for alarm and stuart varney has that from the fox business network. stuart, good morning to you. americans cut spending in june and grew their income at the
weakest rate in 9 months. lack of income and not spending. >> reporter: this is the united states of america. when you have a spending cut, when you are spending less, we consumers -- when we spend less money, that is a very big deal for the overall economy and it suggests that the word recession should be back on the table. it is again on the radar screen. as you points out, bill, the economy is hardly growing at all. manufacturing hardly growing at all. the jobs number that comes out friday will be a bad number. and now we are find out we are actually spending less. this is a picture of probably an impending recession. not good. bill: are you of the mind that we are in a recession, we came out of it albeit slightly and we are head for a double dip or do you believe like some are starting to emerge asking youing that we need to get --
suggesting that we need to -- >> reporter: we got out of the first recession. the economy did expand a little but not much. what you are referring to is how people feel. you ask people what is the economy and they will say my job and house. both of those areas are in crisis. so it feels like we are still in the last great recession. these new numbers suggest that we are not going to get out of that last great recession. we'll go down again. that the double dip. that's where we are. don't forget, you now have a new normal for gas prices. $3.70 a gallon. that's not good news. bill: that number has creeped up. we are back over $4 a gallon. >> reporter: we got to $4, then it backed off. $3.70 is the national average.
that takes a big bite out of consumer spending power and it's showing up in the overall economic numbers. bill: if it weren't for this debt battle we would be talking about the gas prices. alisyn? alisyn: with all the aedge on the debt deal something major has been overlooked and that's the lack of fund for the faa. congress is unlikely to come up with more money for the agency so the partial shutdown is likely to last through the summer. this is costing the country $30 million a day in uncollected taxes and it puts the job of nearly 4,000 workers at risk. molly henneberg is live in washington. is there a deal on the table? >> reporter: the house has passed a bill that's before the senate that would fund the faa, the federal aviation
administration. but that bill cut $16.5 million given to rural air service. senate democrats are balance cannin --senate democrats are bt that. congress has been able -- congress has not been able to agree on a long-term funding plan for the faa since 2007 and has been doing short-term funding extensions, 20 of them since then. it looks like this may not be settled until after they get back from summer break. alisyn: what is the role of the unions in this negotiation? >> reporter: there is an issue that's part after separate faa funding bill that the house has passed. it would overturn a decision
allowing airline and railroad employees to form a union by simple majority vote. republicans want to keep the old rules treating a non-vote as a no vote. orrin hatch says there is an important principle here. last night hatch said quote i have been asked by our leadership to make these objections. what is important here is that you have labor regulators out of control. senator hatch says if the senate agrees to the labor provisions then the faa shutdown problem would be solved in a nanosecond. bill: a moment many in the house say they had no idea was going to happen. gabrielle giffords returned to
the capitol last night. watch this season. [applause] -- watch this scene. [applause] she waved and smiled and hugged and blew kisses to colleagues. she mouthed the words i love you repeatedly. that is gabrielle giffords in the middle of your screen. in a written statement she says she couldn't take the chance that her absence would break the economy. >> i don't think there was a dry eye in our office when we saw the congresswoman on the floor of the house. this is -- she has always taken her job very seriously. she always looked at the trust that the people of southeastern arizona have placed in her with
an extraordinary level of respect. with the consequences of a vote like this it's hard not to well up. alisyn: i have seen it three times and it's still a tear jerker. bill: she voted in favor of the bill. her staff tweeted she is honored to be back at work. just the fact that she can walk into that house chambers. alisyn: if you couldn't walk and talk for the better part of these last months, maybe wouldn't do so much name calling. it puts this whole debate in perspective. bill: she has a wonderful husband. astronaut mark kelly. he is a pillar of strength for her. to watch the messages and tweets that went out from republicans and democrats. it's the first show of unity we have seen in that body for a long time. alisyn: let's hope it lasts.
bill: the staff said moments ago they are not sure about her 2012 plans. she is still in a redo have ar l in a recovery phase. the calendar is august 2. today is the day we have been waiting for, right? so what can we expect? we'll talk to a republican on the budget committee in a moment. senator sessions up live on that. we all remember these images of the oklahoma city bombing. the latest attempt to prevent a new attack with the same kind of weapon. a lot of people ink fiber can do one thing and one thing only, and those people are what i like to call wrong.
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alisyn: new details on the raid that killed usama bin laden. the obama administration has said the may 2 raid was a kill or capture operation. bill: we await a key vote on the debt bill in the senate. it's the day we have been waiting for. my next guest, how will he vote? republican senator jeff sessions is on the senate budget committee. how are you doing? how will you vote?
are you a yes or no today? >> i'm going to be a no. i don't like the way they have a committee set up and particularly i don't like the fact that it undermines even further the ability to have a budget next year. the democrats have:gone 828 days in the senate without a budget and it will make it even more difficult next year to be accountable. this is an erosion of public accountability. we haven't had public debate. we have seen this deadline coming. i warned that it would happen at the last minute. i was afraid at the 11th hour and here we are at the 11th hour and 59th minute. we could have had a great debate had this gone weeks ago and should have. bill: you are a no based in large part on what this special committee will produce.
they may or may not produce any results. if they do not produce results you get across the board spending cuts. what's wrong with that? >> if that's wait was i would be less concerned. but it targets defense. it looks like defense would take a 10% cut and the other departments would take 5% under this thing if you don't reach an agreement. so it's got guns pointed at the head of the defense department. all have got to tighten their belts including the defense department. but i don't see why we would target them for extraordinary cuts and don't think that can be done effectively. bill: i think you said this an "i told you so" moment your view. >> i warned this thing is being put off. secret meetings went on. it's brought up. it's 3:00 a.m. yesterday morning. they said they finally got it
together. and all of a sudden it's on the floor and you get to vote up or down and no opportunity to offer amendments. so to me this did not have to happen. and it was done this way really because it minimizes the number of votes that politicians have to ask and the people need to see politicians cast more votes so they can hold them accountable for the policies they have. bill: i appreciate everything you are say. i think you also said you truly believe this is a step forward. is it a step forward or are you contradicting yourself. >> maybe. i think it's a step forward in the sense it reduces spending by $2.4 trillion, we hope over 10 years. but if the deficits are going to increase $13 trillion the next 10 years this is only a small step. we needed to do much more. bill: jeff sessions, the alabama
republican, thank you. more with alisyn now. alisyn: next we'll talk to a democratic senator, mark warner of virginia how he plans to vote today and what he believes needs to happen to get our fiscal house in order. [ male announcer ] redesigned power e-trade pro. it's like hardwiring the market right into my desktop. launch my watchlist -- a popping stock catches my eye. pull up the price chart. see what the analysts say.
committee? >> the fact that i have been working on this issue for the last year. we worked in a bipartisan way and we had a plan laid out. i think this plan is much too small. we need to be closer to $4 trillion in debt reduction. we need to address the two major problems that are not addressed in this plan. the fact that i'm willing to do that probably means i'm not going to get on the committee. i don't expect to get on the committee. bill: you are pushing for it, right? it's part of politics. you don't say it publicly news want it to happen. >> i think the fact that it was able to work with a bunch of republican colleagues and put a plan together. but i also know chances are there will be enormous pressure on leadership in both parties to put leaders who might not be willing to be as bold. and i understand that. so i think there is a group of us, a bigger group than the
so-called gang of six that will keep pushing for a bigger solution. whoever is on this committee needs to make sure that they hear from voices that say we need to be really serious. this is a step forward in terms of deficit reduction. but when we still don't address the two big elephants in the room, we are not going to get to it. bill: i understood what you said, medicare, medicaid, social security. a little on medicare maybe. but those three programs are 60% of the u.s. budget. and congress doesn't even have a say on that and it's growing at 8% a year. that's hundreds of billions if not trillions of dollars. here is the fear i hear and understand. both sides will load up that committee with part sans and the vote whether it's 6-6 or 5-5 or 7-7, whatever comes out of that committee will not have a simple
majority itself. >> i agree with you. i think the chances. you have got to stay optimistic. the chances of what you are saying a committee lockup are great. then we have the sequestering and the as youmatic cuts that aren't the best way to go about restructuring. we have some do the thing we did in our reform. we would have gained more revenue for deficit reduction. we need to make entitlement perhaps sustainable. on social security we had it on a separate path, social security doesn't contribute to the deficit. but since we are paying out more on social security than we are collecting this is a program that is not long sustainable. pill * i know around democrat, you are talking like a republican. >> i'm talking like somebody who can read a balance sheet. when they get up in the morning realize it ought to be country first. i think we missed that window
this time. but my hope is this will be a group of us who can get the job done. bill: mark warner, democrat from virginia. we'll see how you vote today when it becomes official. alisyn: we are monitoring the action on capitol hill. the same measure passed in the house last night. up next we'll speak to the ranging member of the house budget committee about this vote and does this mean he can now turn his attention to jobs? chris van hollen of maryland joins us next. a new government proposal aims to prevent another tragedy like the oklahoma city bombing. how to keep a critical bomb-making element out of terrorist hands. host: do people use smartphones to do dumb things? man 1: send, that is the weekend. app grapgic: yeah dawg! man 2: allow me to crack...the bubbly! man 1: don't mind if i doozy.
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activists. the man who confessed to carry out last month's terrorist attacks in norway making more bizarre demand saying he wants complete political reform and he wants a role in it. a nasa spacecraft bringing back images of a giant asteroid that's the side of colorado in between the planet mars and jupiter. on your weekend road trip this weekend -- alisyn: we should let everybody know we are of course are awaiting the senate vote by will be happening at noon today. as congress focused on our debt, what happens to tackling jobs and unemployment. the session is now in session and that means there will be a few speeches before noon. and those always prove entertaining. bill: today is the day we have
been warned about. back in may was the first deadline that shifted to june stan july. the treasury department said the drop dead date is the 2nd of august. alisyn: chris van hollen joins us now to talk about all this. good morning congressman. you voted yes last night. how do you feel about this debt deal? >> we should never have gotten our country in this position to begin with. we should never be in a position where our troops in afghanistan are asking whether they are going to be paid. what we had was a group within the how long of representatives for the first time in history using the threat of default, the threat of hurting the economy in order to push through a radical budget agenda. at the end of the day they did not succeed in getting that agenda through in the season we did not get rid of the medicare guarantee. they did not slash medicaid. they were not able to make deep
cuts in education. while i don't like everything in this package, and there is much i don't like. it was a successful effort in damage control. let's talk about jobs in the economy. alisyn: i want you to comment on something your colleague from vermont said when referring to republicans. he said they won, we lost. was this ultimately a victory for rough cans? >> i don't think so because of this. their goal from the beginning was to use this effort, to use the threat of default and the threat of bringing down the economy to get through a very radical budget agenda including ending the medicare guarantee, squeezing resources to put pressure on social security. cutting education. cutting $700 billion for medicaid. they didn't succeed in getting any of that. alisyn: democrats wanted just a vote on the debt ceiling without any cuts but there are up to a
trillion dollars in cuts right away. so it was a victory in that sense. >> i didn't say this was a big victory for democrats. don't get me wrong. i said this is a compromise given the situation we were in which requires give and take. look, the big battle will be on whether the next stage is a balanced approach to deficit reduction. what we did was able to limit the cuts in the early years which will be very bad for the economy if you have deep cuts. this is the wrong time to be sucking investment out of the united states economy. we were able to limit that. this super committee will be charged with looking for the next step in deficit reduction. and that's where the big battle will be. we insisted and the president insisted on a balanced approach. the big short coming was there was no immediate effort or effort beginning in 2013 to shut down some of these corporate tax
loopholes kree aiding larger deficits. alisyn: lots of people thought this debt ceiling debate was a destruction from the real burning issue congress should be tackling and that's jobs. what do you do to start creating jobs? >> this cloud will hopefully lift some of the uncertainty which is another thing we were able to do was not do what the boehner bill would have done which was put the economy in the same perilous position 6 months from now and go through this all over again. in terms of creating jobs, my view is we have to make sure the lenders are able to get the loans to small businesses, both small business administration through normal lending practices. the other thing the administration has been asking for is an extension of the payroll tax holiday for a year to provide money in consumer pockets during this difficult down time.
all along this has been a balance between making sure that the fragile economy gets a boost and at the same time we do long-term deficit reduction. and that has to remain the goal. alisyn: congressman chris van hollen. thank you for taking the time to join us today. >> thank you. bill: a common farm fertilizer in the wrong hands can be converted to a deadly bomb. we saw the horrific results in oklahoma city and the norway terror attacks out of oslo. now the government is looking to regulate that fertilizer. what is the government doing? >> reporter: the department of homeland security is proposing new rules that would require people who buy or sell ammonium nitrate fertilizer to be registered with the federal government. the most recent use of ammonium nitrate to make a terrorist bomb was in norway when a norwegian
man blew up a government building. the same commonly used fertilizer has been used in attacks worldwide. most notably in the u.s. the oklahoma city bombing where 168 people were killed, hundreds wounded. the registration rule would allow the government to compare the names of those buying fertilizers with those on a terror watchlist. bill: was this triggered by what happened in norway? >> reporter: apparently not, it's a process that has been underway for some time. conjugate homeland security a mandate to regulate this in 2007. there were objections from farmers because they don't have the computer skills sometimes that they would need to meet the requirement..
it goes hand in hand with another requirement already in place in the federal government by the bureau of alcohol, tobacco and firearms. alisyn, what next? alisyn: a tragic update. a missing new hampshire girl found dead. celina cass' body found in a river near her home. up next an in depth expert analysis of what could have happened to this 11-year-old girl. bill: many of the proposed cuts in the budget deal could come out of our healthcare budget. how will that fake and your family's healthcare? the bizarre and sometimes dangerous lengths some people will go to to cure that common ailment. i guess this one involves a train. alisyn: and track. with the hotels.com 48-hour sale,
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alisyn: people lying down on railroad tracks claiming the electric throw through their body cures health problems. the experts warn this type of cure could be deadly. bill: there it comes. the debt limit deal raising questions about the future of entitlement programs like medicare. a super committee would be tasked with finding budget savings. if they cannot there would be cuts to medicare across the board. what would that mean to you as a patient and to a doctor like
marc siegel? author of "the inner pulse." how you doing, mark? the super committee would do what to medicare in your view? >> reporter: i'm concerned about this. i think our seniors are smart enough to know they can keep their benefits but it cuts what is paid to providers. one of the automatic triggers that will occur in january 2012 if if the committee doesn't couple with a new idea. this trigger will cut medicare payments to providers and hospitals 2% across the board. at the very same time medicare providers are facing a 29% cut if they don't have what is called the doctor fix. these enormous cuts to doctors, hospitals, to services could end up leading to a calamity where
doctors flee and restrict medicare in their practices. taking care of a medicare patient is wonderful, but it's difficult. bill: you are saying 31% in cuts could come to people like yourself. >> reporter: easily. bill: the result is patients get less care? >> reporter: either the doctor will not take medicare or the doctor will say -- 17% of doctors are restricting medicare in our practices. we may be compelled to see more medicare patients in shorter periods of time. we may reduce the quality of what we offer. we have to sit will and listen to the patient. many medical problems can't be taken care of in five minutes. it's bottom line business consideration. bill: i know how much work do you for us at fox news channel
and i know how hard you work in your private practice. a lot of this comes down to money frankly. if we are not going to trim here or over here, what is your solution? to bend can the cost curve for the 70 million baby boomers who will rely on medicare in the coming years? >> i don't think the place to cut is providers or services. i think we have a bloated product. there is a misnomer. there is a boor conception when somebody comes to see me for the common cold or scratcher to minor problem that somehow i'm going to do preventive medicine. i want to see more deductibles. i want to see copays. i want to see coinsurance. i want to see a disincentive for overuse of medicare. bill: you are arguing fewer
visits to the doctor does not necessarily mean the patient is going to be healthier. >> reporter: i'm saying more visits doesn't mean the patient will be healthier. fewer visit could be okay if what the patient is doing is exercising and eating rights. i'm sake the reason medicare is so expensive is because too many people come in to see me unnecessarily it's not the technology i use to take care of very sick people. it's the worry well that is the problem. bill: you need to keep up the quality of doctor in america sotomayor can patient is taken care of. >> that's not going to happen. we pay doctors less. bill: check out your article at foxnews.com. alisyn: there are reports -- the tea party force the hands some lawmakers. that earned them a jab from the white house. the vice president apparently come pairing them to terrorists.
>> it's deeply disturbing to hear the vice president refer to tea party as terrorists within holding th -- holding a gun toed head and force us to make shuts. clearly they are not rinsing to what americans are saying. alisyn: how influential is the tea party in the continuing debt debate. bill: what happened to 11-year-old celina cass and why has they are stepfather been institutionalized. a criminal profiler looks at what we know so far in her case. really? 25 grams of protein. what do we have? all four of us, together? 24. he's low fat, too, and has 5 grams of sugars. i'll believe it when i--- [ both ] oooooh... what's shakin'? [ female announcer ] as you get older, protein is an important part of staying active and strong. new ensure high protein... fifty percent of your daily value of protein. low fat and five grams of sugars.
and it started tumbling later in the session. at one point the dow was up 137, then down 144. we are down 32 points. we'll check in throughout the show here. alisyn: she vanished without a trace and now investigators are hoping an autopsy will help shed some light on the mysterious disappearance and death of 11-year-old celina cass. her body was found in the connecticut river. police are calling her death suspicious, meaning they don't think it was an accident. meanwhile her stepfather has been hospitalized. i want to talk about the stepfather. i want to talk about how he behaved in the hours before celina cass' body was found. her body had not been found when he was seen clutching his head in his hand rolling around in
the driveway laying face down in the driveway. they were so concerned they called police. is that the typical behavior of someone with a missing child? >> this is a stepfather who hadn't been in this child's life very long. when she went missing he said get your butt back home. theoretically your step-daughter has been kidnapped, get your butt back home? then he said the family was grieving. which some people say that would make 1e7bs. this girl was suppose to be missing and hopefully coming home. you usually don't talk about grieving until it's all over. everything he says indicates he knows what happened to her. alisyn: it seems like guilty behavior. >> he was labeled psychotic and
put in a mental institution ap after he broke into his ex- girlfriend's home and tried to beat her up. alisyn: he broke into his ex- girlfriend's home, threatened her with violence. and that's when he was diagnosed with schizophrenia. >> to me his behavior seems psychotic. some of the behavior we have seen since it looks like he's not running around doing strange things until he does this thing in the driveway. he, working on an insanity defense. he was crazy before, he must be crazy again. alisyn: he's not charged with any crime. in fact what we have heard is she was last seen on her computer and it's possible of course that she was communicating with a stranger
and left the home of her own volition to go meet a stranger. that happens with adolescents. >> when you are going to arrest someone and prosecute them, you can think what you want about them but that doesn't mean they did anything. she could have been living with a creepy guy who didn't do anything to her. police said they don't think anybody took her. which indicates to me they are talking about somebody who is near her that she knows. it's said she was on the computer. and we are hearing that from the family. we don't even know if something was written on her facebook page we don't even know if she wrote that. anybody can sit in front of the computer and do that. there will be a lot of amall cities going back to the home. was there any real communication to identify with celina or do we not know that. we'll do the interrogation. alisyn: let's say the step
father becomes the subject of an investigation. does it give him cover? >> i think it does. this is a world where we would like to say people are nuts and that's why they have done something so horrible. since he has gone the that label once. it will be easy for a defense attorney to push that as a possible defense. alisyn: we shall see what happens after the autopsy today. bill: more developments out of new hampshire. we are in the final stretch of a month long debate. the senate set to vote on the debt ceiling today. they have convened on the floor of the senate. we'll start with a couple of fox news all stars. we'll break it down for you and what you need to know. we went on a road trip the other day. we were driving down the highway. there was a snake on the windshield. back in a moment.
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call this number or go to selectquote dot com. selectquote. we shop. you save. bill: whole new hour, "fox news alert," to the floor of the senate what might be the final hours in the battle to reduce our national debt, senate lawmakers set to vote on the plan that passed the house late last night that's hour glass runs down to the declared deadline which is tonight, brand new hour, i'm bill hemmer, great to have you along with us today. it has been a long road. how are you. alisyn: the 11th hour of the 11th hour... i'm alisyn camerota in for martha today. judgment day in the battle over whether to raise the debt ceiling. the plan awaiting approval, right now, and, would increase the borrowing limit we have and cutting more than $2.5 trillion in spending over ten years. bill: house speaker john boehner on the agreement, now sitting on the floor of the senate.
>> our first week we were sworn into office the president asked for an increase in the debt ceiling and i made clear at that time, that there would be no increase in the debt ceiling, without significant cuts of spending and changes to the way we spend the american people's money. bill: the anchor of "your world" neil cavuto is live on capitol hill. good morning to you. >> hi, there, bill. bill: you know all the hallways by now. >> and all the snack machines, i do, yes. bill: what are you hearing in the town? >> they'll get the debate going and, the vote going and physically get going and, are hot to trot to get out of here and when i talked to senator coburn yesterday, one of the few who is going to be voting against this, he said he wouldn't be surprised if it got 70 to 75 nay votes, but, as alisyn pointed out, we are talking about $2.4 trillion over ten years and even that, i think
is an optimistic figure, guys. i think the cbo scores closer to being more accurate, more like $2.1 trillion and here is what troubles people as they get a sense of potentially buyer's remorse. many of these cuts, in fact 2/3 are in the outer years and $917 billion, so-called down payment in cuts, most of those cuts close to 3/4 of them, post the year 2016. and, in fact the cuts that are just slated for next year, hold on to your hats, $21 billion. $21 billion, and that works out to about 0.2%, of all of u.s. gdp. so, again... the math here, barely. bill: once the dust settles, that will be a headline. >> and... bill: they are going to have to answer to that. >> i think they will and it will be a headline, i think for the ratings agencies, because as you
know, bill, they have said we want to see $2 trillion in cuts and, i talked to mitch mcconnell and he said, well, we possibly could have gotten to $4 trillion but it would have involved a lot of tax hikes to get something in concert with the administration. and he might or might not be right and the agencies might or might not be happy with the end result but the overall figure and the fact that is so back dated and these cuts are in the outer years, might not pass muster with them and they might bluster and threaten, and might not do anything. but, the fact of the matter is, at least one of them, s&p, is on record as saying, $4 trillion, or ratings downgrade, isn't out of the question and the pressure is on them now to see whether they bite as well as bark. but, at this point, they are set to approve this in the senate in a matter of hours and it goes to the president and is up to the ratings agencies to see what
they do. bill: it was interesting, the interview with mcconnell yesterday and the rumors floated around the super-committee could raise taxes and everybody said, whoa, whoa, a deal-breaker, not a deal-maker and what he said is given the current composition of the house, there is a... i mean, like this, there is zero chance that that is going to happen, and he stands by that. >> he does, but, you know, it isn't quite that easy. as i tried to point out as well, think about it, bill, they do have the committee made up of 6 republicans and 6 democrats and will have 1.4 to $1.5 trillion in savings and there are automatic cuts built into them, a half trillion dollar cut in the military budget which is a real bone of contention with republicans already not too pleased with the fact that the agreement saves military spending $350 billion over ten years and i stress over ten
years and having said that, revenues, for the military, the box the democrats might have put the republicans in, what is it going to be? to say nothing of the fact that entitlements could come up again, republicans might like that and democrats might sort of go nuts over that. but, i tell you, bill, the second wave, the second tranch, this thanksgiving, christmas deadline fphenomenon, with the latest round of cuts, will not be easy and i don't envision being back day by day for that drama, but i am telling you, it is going to be dramatic. bill: and significant, too, how they forge the way forward. we are watching the floor of the senate and wait for you to come back when "your world" is live, 4:00 today and the ceo of cypress semiconductor and senator joe lieberman, two of many guests neil will have and
watch on fox business network, live from the hill, 6:00 tonight, neil is trying to piece it all together. alisyn: yeoman's duty, indeed and joe biden denying he compared tea party republicans to terrorists. and he says it is all a big misunderstanding, and the people were venting yesterday, during his meeting with the democratic caucus. and the vice president adding, quote, i never said they were terrorists, or worse terrorists. bill: and house tea party caucus chair and presidential candidate michelle bachmann, weighing in strongly on the debt deal, not pulling punches on her no vote with sean hannity, last night. >> all of the overspending does impact job creation. and, unfortunately, the lack thereof. and, that is why people want government to do what they have to do. what local businesses have to do. and, that is be sure that you don't spend more money than what you take in. that is why what people want to know is, will someone do what has to be done? we need tough love. we didn't see a lot of tough
love, out of the deal. bill: she's a candidate, 2012, so how does the debt debate affect all of the candidates now in the race to the white house? larry sabato out of uba center for politics, in virginia, his insights later this hour. alisyn: there are serious concerns the last minute debt deal will not be enough to stop a credit downgrade for the u.s. as neil talked about, budget experts warn the cuts being made by congress fall short of what needs to be done. right now, the government has a aaa rating, the highest possible for any country or company. and, that rate affects interest rates on everything from credit cards to car loans. the u.s. has held the aaa rating since 1941. so, what would a downgrade really mean for each of us? liz claman from the fox business network joins me now. hi, liz. first how likely is it we will be downgraded. >> okay. everybody is saying that if you talk to the ratings agencies, specifically, moody's, s&p and
fitch, s&p is a little more aggressive than the other two, and they were in essence telling us at fox business, two weeks ago they needed to see $4 trillion in cuts and obviously that is not what we are getting. we are getting $2.4 trillion over the ten years and the question is how likely is it? now people are telling me and i figured, let me go to people who used to work at the ratings agencies and they are not worried they'll get in trouble for talking and, a former economist at s&p, told me that now there is a possibility that we won't see a downgrade, because, they will look at the $2.4 trillion in cuts and say, that is considered a down payment on an eventual $4 trillion or close to it, none of these ratings agencies wants to be the one to downgrade the aaa platinum status of the u.s. credit. alisyn: that is the optimistic outlook. and if we were to be downgraded, when might that happen? >> well, the big question is, would it happen today? once the bill is voted through? if it is indeed voted through by the senate or would they wait a
week and see what happens? it is anybody's guess and i have searched the wires and moody's downgraded four tunisian banks, nothing going on from the ratings agencies and, some would put the u.s. credit watch on negative, like when your parents say, you are on thin ice, mister, let's watch out and see what you can do but the consensus is emerging, alisyn, that maybe the ratings agencies will look at the $2.4 trillion and say it gets us where we want to be and within the next decade there might be changes that would get us there but you guys pointed out clearly, in your graphic that you showed at the top of the segment what would happen if he got downgraded? the short-term it would be a valleys be disruptive, because it would be a shock, possibly to the system though we are all talking about it, so how big a shock could it be? higher interest rates, the dollar might weaken a little bit and you've got funds, mutual funds a lot of your viewers might hold required by their o
prospect prospectus, and they would be forced to sell them, and so there might be some gyrations. alisyn: and, i like your comments about, scolding parents, and, we are in a timeout! don't forget, you can watch her every weekday when she anchors "the closing bell" 3:00 p.m. eastern. bill: most of the debt talk is focused on power players in washington and they were the ones in front the microphones. what does it mean for the average american, terrific panel coming up here. mary katherine ham, john fund, bob cusack. alisyn: the tea party was opposed to raising the debt ceiling and they have been a force to be reckoned with and congressman steve king is a member of the geetattea party a joins us live. >> a water moccasin... a huge water moccasin!
turn, anxious chochor of "speci report." the guidance we have is they'll get 70 votes. i don't know if that is true or not. bill: pretty good guidance. bill: and after that we move to the super committee that will get all the attention and who will be on the committee. >> that is the great question, republicans will feel pressure to put people on who will not roll on the issue of taxes and they are not going to... there will be pressure from the right and senator mcconnell, perhaps, would put on someone like jon kyl, from arizona. who is not up for re-election because he's not going to run again. and, perhaps, senator john thune, some of his lieutenants, this is senator mcconnell's lieutenants, from the right and senator reid perhaps could put on senator kent conrad, a member of the gang of 6 and you could see gang of 6 members on there and on the house side, paul ryan, obviously, is the biggest
budget into the details kind of guy, and, that is the guy the republicans will put on. bill: is he a guarantee, do you think? paul ryan? >> i would say he's a good bet to be on the committee. the funny part is that our producers up there say lawmakers have not been really itching to be on these committees. because, it will be a high pressure job and if they don't come up with the goods, $1.5 trillion in cuts, then there is a really painful deal, as we talked about over the past couple of days, the trigger, mechanism, half of them defense cuts and the other half across-the-board cuts including medicare provider cuts. bill: we had a senator from virginia last hour and he wants to be on the committee. >> i bet you he'll get on. bill: the fact i'm talking about it publicly means i will not be on it, he says. >> yeah, maybe. bill: but you are working your politics now and he wants to be on the committee and sounded like a republican, frankly, what he wants to get done and we'll see whether or not his wish is granted and he'd be the exception to the rule that you are talking about there.
>> that's right. bill: bret, thank you, see you you a bit later tonight and all afternoon, as a matter of fact. bret baier. alisyn: which party drove the debt debate the most? there is no denying the tea party had a major impact on this debate and the showdown and many of the tea party backed lawmakers did not ultimately support the proposal, iowa republican steve king is a member of the house tea party caucus, and is one of them. good morning, mr. king. >> good morning. alisyn: how much credit does the tea party take for what is ultimately in this bill? >> you know, i listened to the dialogue all across the airwaves over the last couple of days, and i think they are getting it about right. there is a strong, strong tread from the tea party, that goes up through this constitutional conservatives here in congress and, i saw the numbers of republicans that would vote no on the boehner bill, shrink down to 22, in the vote last friday but they grew again in scores, that voted against it last night, so, i think that says that there is a strong message
there, and it doesn't mean they will not break from the hard tea party line but there is a solid core here in the house and especially, i'm impressed with the senate, fewer numbers over there, of course but there is a solid core in the senate and, any kind of movement will start small and grow and it is a growing, not a shrinking movement and democrats are trying to marginalize it and that should tell us something. alisyn: let me try and understand it. is it a victory for the tea party, because i don't have to tell you, you didn't want the debt ceiling raised at all and of course it is being raised. how much of a victory is this? >> tea party is not going to declare a victory and i certainly don't. but, it is this, it has changed the debate and all republicans will tell you, it shifted from how much we'll increase to how much we'll cut of the growing deficit which is not particularly dramatic. but, it takes another step down the road. i wanted to stand on this place and time and fight this on the debt ceiling, because, i want to have ha real shake down on what the priorities and
responsibilities of a government really are and we have a couple-three months to make the case for a balanced budget amendment, bring back cutbacks and cut, cap and balance and it is just... this is a preliminary battle and some might call a bull run and, some might call it manassas. alisyn: on the flip side, how much responsibility does the tea party bear for the hand-wringing and the angst, and the frustration that even regular americans have felt over this past month? >> well, if they went through some... i'm sorry but it is our job to go through it here. and, one of the reasons that we have the clash of ideas in washington is so we don't have to clash in the streets of america. and, we saw, tea party people come out all across the country and i go to as many events as i can and walk around and talk to people. these are patriotic americans, red, whited and blue, could be at my church picnic and they are very, very energized and stepped up to the responsibility. and they are a big reason why we
have a majority in the how many times. we are a blocking majority with 87 new freshmen here. and we are not yet a majority that can assert itself strongly enough, against the senate and white house and i think that changes the fall of 2012 and fit does the tea party will have a lot to do with this. alisyn: what about this fall, forget about 2012, this november, when new recommendations are made. will the tea party be represented on the super committee? >> i wouldn't make that prediction. i hope that is the case but it would look to me the leadership will want to appoint and put people there with a little more influence with the decision making, if i might say that delicately and i don't expect there will be but there will be at least some encouragement they put some people on there that will be solid and will not give up and will not back off and will stand on these principles and if you look at the trajectory of what happened yesterday in the house, we were looking at, if we do nothing, our national debt in ten years would be $28 trillion, and, if we accept the ryan budget, our
national debt in ten years would be $23 trillion and what we did yesterday dials our national debt, over ten years down to $26 trillion and is not as good that's ryan budget and a couple train dollars better than it might have been but is barrel a start and we are still growing spending irresponsibly and we have to do something. alisyn: on that note, congressman steve king, thanks for your time this morning. >> thank you very much. bill: while you were talking, breaking news from the white house, there will be a statement at 12:15 eastern time from president obama, in the rose garden, which lines up with the schedule we have been watching so far. senate started at 9:30, we expect a vote lately later this morning at noon eastern time, and the president will follow that with his statement. so, who is up, and who is down, after the big debt debate? what today's vote means for the president, and the presidential candidates in 2012. that is next. alisyn: and the overhaul of health care forcing private
insurers to provide a host of free services to women, completely free of charge, one of those services is birth control and critics say amount to the government supporting abortion. >> it is a choice and not a health issue. it is... i would have to ask the question where do we draw the line? are we going to all of a sudden support abortion?
♪ bill: if you are joining us, we're waiting on two things at the moment, i final vote on the debt ceiling in the senate, also, presidential address from the rose garden at the white house, the word came out moments ago, how then does the fight over americans' future on spending shape the 2012 presidential race?
larry sabato, director of the center for politics at the university of virginia, good morning to you, great to have you. >> good morning, bill. bill: what are the implications for the vote and the outcome of it for president obama in 2012 as a campaigner? >> well, look, this wasn't a good experience for president obama, and, it has damaged him, i don't think there is any question about it. his national ratings, bill are now around 40%. which is a terrible job approval rating, heading into a re-election campaign. a lot can change in 15 months, but, look, just this morning a new pew poll came out showing mitt romney beating obama in pennsylvania by two points. pennsylvania is a pretty deeply blue, democratic state and it is obviously, the immediate impact is bad. i happen to believe, bill, the election will not be about the debt ceiling, the election in 2012 is going to be about jobs and economic growth and, of course, that is a problem for
the president, too. bill: pennsylvania was ten points in obama's favor, over john mccain i believe or around... in around that number, overall. okay. mitt romney, put out the statement on the debt deal yesterday as we shift to the republican field and it opens the doors to higher taxes and puts defense cuts on the table and while i appreciate the extraordinarily difficult situation, president obama's lack of leadership has placed republican members of congress in, i personally cannot support this deal. he was a no. coming in yesterday, and some suggested he weighed in too late. what was his strategy? did it work? >> bill, as the nominal front-runner, he's not a heavy front-runner, he's a nominal front-runner, his goal is to avoid too much controversy, and, avoid gaffes, and, also, to raise an enormous amount of money. and that is his focus. and, yes, he came in very, very late, but, notice which side he came in on, and, even though the debt ceiling deal passed, the
most conservative republicans are the ones who are going to be showing up in iowa and some of the other early states, they clearly didn't like the deal, so, mitt romney was coming in on that side of the equation as almost all the republican candidates did, with one exception, jon huntsman. bill: michelle bachmann was a no from the beginning and never changed her strides and here she is with hannity last night on that. >> we're continuing to spend money we don't have, by an order of magnitude, we have never seen before and in all of my travels over south carolina, new hampshire and iowa, it has been fairly unanimous, sean, people across the country have said, please, stop the out of control spending and, whatever you do, don't increase the debt ceiling. bill: if you listen closely, she goes exactly to your point and that is the state of iowa and she has it in her cross-hairs to win. >> yes. and if she wins iowa and she's the current front-runner in iowa, probably by a mile, if she wins iowa, then, she will be in
the top two or three, the other two, probably being mitt romney and governor perry. so, her strategy is to be the tea party candidate, to always be with them and to be with them early, and that is exactly what she was on this debt deal. bill: larry sabato, thank you. i wish we had more time and there's a lot to talk about, interesting results in pennsylvania you pointed out, and we'll go through that, throughout the day, too. thank you. larry sabato. >> thank you, bill. bill: alisyn. alisyn: we want to break done the debt deal for you, what exactly does america get out of the down to the wire fight? will you, the taxpayer, see any real savings or does the deal ignore the real problem? a fair and balanced debate on that. bill: and how about the stowaway you don't want hanging around? watch this a second. alisyn: scary! bill: a figure they are going 60, 65 miles per hour. alisyn: looks like it. bill: that is a snake. on the windshield.
alisyn: fox news alert. we are awaiting a senate vote on the long awaited debt deal. the white house is now urging senators to follow the house's lead and pass the plan before time runs out. senior white house wendell goler is live on the north lawn. nice to see you. will this be a close vote, do you think? >> reporter: well, senate majority leader harry reid won't say so. the white house is confident and reid probably wouldn't schedule the vote if he didn't think he had the votes to pass it. there was broad bi-partisan support in the house yesterday. democrats evenly divided, even a majority of the tea party voted in favor of this bill. but utah republican seven mike lee says he will be a no vote today. >> i'll be voting no because this is a permanent problem. when we take on $2.5 trillion in new debt, that is a long-term
commitment that will take us decades to pay after. it deserves to have a long term solution massed to this. and that is a balanced budget amendment. we don't have that in place. we don't have any business raising the debt limit to 2 hoeupb 5 trillion dollars. >> reporter: the vote was rarely unanimous, president obama when he was in the senate voted against the debt ceiling. it is not a difficult vote but it is difficult to be the deciding vote. alisyn: the democrats wanted a clean bill or clean vote, so they just wanted it to be about the debt ceiling not to have any budget cuts attached. the fact that it has all of the cuts to the deficit attached, how much does this change the game going forward? >> reporter: very much. it is forcing a democratic president and democratic senate to support legislation that was really written to please a
majority of republicans in the house. now senator thom udall says he's voting for the bill even though in his words it stinks to high heaven. dick durbin quoted shakespeare. >> at the end of the day i will vote for this measure, and obviously with a heavy heart, there are parts of it that i will struggle to explain and defend, but i can't let this american economy descend into chaos if we fail to extend the debt ceiling. >> reporter: tennessee republican senator lamar alexander says the count lee is finally taking responsibility for spending money he doesn't have. we'llee hear from the president on this at 12:15 eastern time. fox news channel will carry it live. alisyn: we will be looking forward to that. bill: are we ready to talk about winners and losers? and what do you get out of this debt deal. a terrific panel right now, mary katherine ham a fox news
contributor. john fund, seniore editor. bob cusack. bob, i know you've been working this story. how does a guy like john boehner looks today. >> he looks a lot better than he did late last week when he had to pull a debt limit bill that didn't have the votes amid a rebellion of conservatives. a low point last week, what a turn around. in a simple amount of a few days john boehner said he got 98% of what he wanted. president obama didn't get a lot of legislative details, but he did take default off the table until after the 201 2012 election. that's a big thing for him. nancy pelosi and her lieutenants are not so much pleased. alisyn: tea party? >> they did it well.
they pushed john boehner a lot. he went to the senate and the white house and said, listen you've got to come closer to me, i've got to get the votes in the house. the senate will not be a cliffhanger, the senate will. the tea party comes out as a winner as well. bill: to john fun now, what did america get out of this deal? >> i think they got educated on the crisis that is going to inch gulf our country in the next few years, the debt crisis and the spending crisis. it's very hard to communicate a sense of urgency to americans unless you have an event like 9/11 occur. for the last few weeks the one advantage we had about congress' paralysis is america learned basic facts. many of them learned we are borrowing $2 million of every minute of every day. we also learned from this debt deal that this is only a down payment on what has to be done. this will cut only 6% of the spending that we'll have over the next ten years built into the system. the last thing i think that they learned is, congress only works
when there is a homework assignment deadline. and i think they are going to have to hold a lot of congress people to account, and i think one of the reasons why the super committee is problem below going to work is, i think every member of congress will look at how the approval rating of congress has dropped the last few weeks and say, we condition go through another crisis in november and december, another set of gridlock. i'm fairly optimistic that those 12 members will find something to agree on. bill: should americans have an honest sense that their government is heading in a different direction now? or haveee arrived at that point? >> here is what i think. i think that conservatives, and the reason the main tea partyers are upset you can have a political win for someone like john boehner without having a win on the actual cutting of spending. we are actually not making a huge debt. where we are is the methadone clinic for addiction to spending. it's not a pretty place, it look a lot of kicking and screaming to get here, but it may put you
on the road to getting better. that's where i think we are right now. the commission does have the potential -- bill: it's a first good step is what you're saying. >> i think it's the best first step you can get out of a democratic congress, and certainly so much farther on dealing with spending cuts than we were when obama offered 9 trillion more in debt for his budget in january. bill: before thanksgiving, bob you'll be tied up with the kpheg special committee for weeks to come. do you agree with john fund that there will be presents tour get things done. >> i think it will depend on who the congressional leaders a point to the commission, this committee. i think leadership will be appointing people very close to them, they are not going to straeufplt you won't see kent conrad, or a tom coburn on this commission. i think you're going to see people like paul ryan, people that are very close to boehner, and to harry reid. could we have a deadlock?
yes and then the triggers set in. commissions usually fail. is there a different kind of feel now after this ugly debate? yes, but will they get a deal? i think it could be less than 50-50. bill: a minute left, to both john fund and mary catherine. who has the stronger hand, john, coming out of this? >> clearly democrats in congress are absolutely perplexed at how president obama handled this. the one thing you cannot be in american politics is a looser. and obama was a horrible negotiator, arguing against his own position time and time again. i think democrats will increasingly wonder, should we have these people negotiating on our behalf, because it didn't workout so well for us. of course there are tensions in the republican party between the tea party and the establishment. there are real tensions in the democratic party between the white house and congress. bill: mary catherine. >> i think republicans got more of what they wanted than democrats.
i think the commission is tilted against tax hikes which is good for conservatives. for folks upset with the gridlock and that you will kind of thing i agree with bob, this is the new normal, you'll have this fight every couple of months. this is what it looks like to make tough choices. welcome to celebrity rehab washington style. bill: well put. thanks to all of you. alisyn: we are awaiting that vote in the senate on the deal to reduce the national debt and raise the ceiling. live to capitol hill as soon as news breaks for you. plus, birth control, free of charge under the president overhaul of healthcare. birth control offered to women with no co-pay or deductible. there are intense feelings on both sides of this issue. >> i think birth control is a good thing for people to have. it's better than to have children that they can't probably care for.
drug bust at cease the u.s. coast guard intercrepting a self-propelled subject ma lean. it was packed with $180 million worth of cocaine. small subs like these gaining popularity with columbian drug lords and commonly used to transport drugs by way of sea. alisyn: it's a controversial addition to healthcare reform and reaction has been swift to the obama administration's decision to require insurance companies to cover birth control at no extra cost. will this improve women's health or is it more government spending at the expense of personal responsibility? here for a fair & balanced date is the former president of the women's media center. and a vice president of family packet. thank you for being here. the average co-pay for birth control bills right now is $14,
that is the average. that means that for millions of women it's less. some pay $5. why do we need more government expe expenditure for something that is frankly this cheap and accessible? >> this is a textbook definition of win, win. we have right now 50% of pregnancies in this country are unintended pregnancies. and anyone who has looked at women's healthcare and may fall on the side of being against abortion should be celebrating this historic decision, because this is going to dramatically decrease abortions in america, and that's something i think both sides want. alisyn: okay, sandy your response. >> la la land. very nice to talk to you this morning. i would like to say if women now don't take birth controls. the generic brand you can buy it for $9 a month. now we're going to make it free, the theory is if we make it free
they will really actually now take it and that is ridiculous. i would also like to say is the white house out of their mind? does the west wing not know what the left wing is doing? we have $14 trillion in debt and now we're going to cover birth control, breast bumps, counseling for abused, are we going to do pedicures and manicures as well? i think that would be a good idea. >> one of the points that sandy raises is that all these unplanned pregnancy are not really because of lack of access to birth control, it's because people have birth control and they don't use it. at this point isn't this just personal strot? >> absolutely not. to look at the economic reason behind this that sandy tried to point to. these unintended pregnancies cost us over $11 billion a year. how can we not look at this as a cost-saving measure. i don't necessarily see that as being the top reason, because
the top reason is clearly women's health and family health, and really being able to space out your pregnancies and plan them has been proven to help women's hept. but there is an economic factor, and that is saving $11 billion a year. alisyn: what do you say to that? >> i don't believe that in a heartbeat. i would also like to just ask you as a woman, why in the world would you encourage your granddaughters, and daughters to have unrestricted, unlimited sex any time anywhere, and if you prevent pregnancy that somehow you help them. i would submit to you that uncontrolled section behavior is what is harming our girls not the lack of birth girl, which by the way they don't seem interested in taking any way. having a baby is not the worst thing. having multiple sex partners without any kind of restraint or responsibility is much more damming. why would you support that? >> well, i support when you have
a pregnancy that there is a commitment to parenting. and that is what happens when -- you have the a little to have family planning, which contraception is such an important part of. again, we are looking at such a historic moment where 50 years ago the birth control bill in many states was illegal. this decision that the obama administration has made to include within the healthcare remember form bill is going to affect 50% of pregnancies that are unintended in this country. and sandy, i've heard you argue against abortions for many, many years. this is going to tkra math tuck lee decrease abortions. how can you be against that? alisyn: do you think this will decrease abortions, sandy? >> we are talking about fantasy. i'm talking about women's hearts and minds and real health, mental health and spiritual health. and i reject the notion out
right if we encourage and give away birth control that we are somehow helping woman, i don't believe that. let me tell you something else in red china they have this down to a science, the local healthcare senters make women come in every month to be examined to see if they've had their cycle to make sure they are taking their medication and if they have a baby they are round lee punished, if they have an extra baby that baby is aborted. that is the control we're moving toward. i reject that. i'm able to take my own medicine, to pay my own $9, and i reject the notion that you have to micromanage women in this country in order to do wh what? >> i think clearly sandy's point is she wants to put ideology over public health. >> yes i suppose i do. alisyn: i do want to get to the most controversial portion of this plan, and that is that the morning-after-pill will also be provided free of charge. and as you know many religion groups and others feel that this is a form of abortion.
should this also be included? >> i think if you look at 98% of catholic women in this country, and almost 100% of evangelicals who are sexually active have used birth control, and so, you know, i kind of dismiss some of the institutions that are against it. the morning half pill has been determined by the medical community, by scientists to be contraception. it works in the same way that an iud works. it is birth control. and there are people who want to put ideology over public health, but that is not the direction that this historic decision is moving us in and that's the right direction we should be moving in. >> you all make science a laughing stock. you present science and facts just to present your viewpoint, it's your ideology that drives you. i'd like to say that the morning-after-pill has other detriment aleffects n. great britain where it was legalized
first there was an outbreak of older men taking young girls in for the morning-after-pill so there are no consequences. i reject as a taxpayer having to pay for it. i am against this. >> we pay for a lot of things that we disagree with. alisyn: you've both made your feelings known. obviously this is a very contentious issue. thank you for coming in for the debate. bill: quickly to jenna lee. "happening now" "happening now" is newspaper ten minutes. jenna: today on "happening now" you will witness the final vote on this historic debt deal. is it actually over now? we have new questions if and when washington will turn the focus back on jobs. what can lawmakers really do to put us back to work? also an important warning about a popular summer barbecue treat. we'll see you at the top of the hour, bill. are you receiving a payout from a legal settlement or annuity over 10 or even 20 years? call imperial structured settlements.
bill: something to consider now in the dog days of august, using the power of the sun to make fuel for your car. there is a company now that says it has done just that. if so it could be a game changer. molly lines live in boston, how does it work. >> reporter: with a little help from generic engineering joule think they found a way to take the sun along with water and co2 and make liquid fuel. they believe this could revolutionize how diesel gets on the market here in america. they say they have a bacteria through a direct process secretes the fuel and it can be picked up and put into the gas stations all across the country. the company is taking its first
steps towards commercial liization now. they have about a thousand acres in new mexico, and they are testing it on a large sale. it can be located just about every where. all you need is the sun, water, co t, it offers job creation, stability, and the process can take advantage of waste co2 from traditional power sources. in a sense it could kind of offer traditional say coal plants a little bit of a green edge if they take advantage of this. they say the process is also faster than traditional bio fuels who have to wait on algae to grow. bill: who would use it, molee, you and me? >> the hope is it could be put right into trucks and planes all across the country, anything that uses a diesel product. they hope to have it happen quickly and get it running and move things into the already existing infrastructures and into refineries. bill: molly, thanks.
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