On the Radar: Debt ceiling talks, hacking scandal, Carmageddon, bank tests
Top legislators in Washington are in tough negotiations with the Obama administration over raising the national debt limit.
July 15th, 2011
08:02 AM ET

On the Radar: Debt ceiling talks, hacking scandal, Carmageddon, bank tests

Debt ceiling talks pause

There are no formal negotiations planned for Friday to achieve a deficit reduction deal, but President Obama will hold a news conference at 11 a.m. ET to offer an update.

On Thursday, Democrats and Republicans met for the fifth time in five days.

A Republican aide familiar with Thursday's meeting at the White House said Obama told congressional leaders he expected them to consult with their caucuses and find agreement over the next 24 to 36 hours on how to proceed.

If the group is unable to reach a compromise, the president suggested another meeting would be called this weekend, the aide told CNN.

Editor resigns over phone hacking scandal

Rebekah Brooks, former News of the World editor and chief executive of News International, has resigned in the wake of the phone hacking scandal, News International said Friday.

The FBI has launched an investigation into Rupert Murdoch's News Corp. after a report that employees or associates may have attempted to hack into phone conversations and voice mail of September 11 survivors, victims and their families, a federal law enforcement source told CNN on Thursday.

'Carmageddon' starts today

It's D-Day for the 53-hour shutdown of Interstate 405 in Southern California. A 10-mile stretch of the heavily traveled freeway will be closed in western Los Angeles for a bridge demolition. You would think the world is coming to an end. The project - dubbed "Carmageddon" - has brought countdown clocks, traffic apps, detour maps and warnings to stay away or enjoy the weekend on the couch. Amtrak and JetBlue are offering specials to get away from - or at least around - it all.

Word awaited on European banks

Europe-wide banking stress test results come out today amid fears they could further destabilize in the euro zone and global economies. The European Banking Authority will release results on the latest bank stress tests, which will show how much money overextended governments will have to pony up to support their vulnerable lenders. But the market is unlikely to heave a sigh of relief at those results until European finance ministers are willing to try a more lasting solution to the debt crisis in Greece - and it looks like they are still not ready yet.

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Filed under: Barack Obama • On the Radar • Politics
soundoff (40 Responses)
  1. CSnSC

    Your typo is forgiven. Your message is informed and well stated. Keep up the good work.

    July 15, 2011 at 3:03 pm | Report abuse |
  2. KRD

    GOP is wasting people's money exercing politics ONLY. Tell them why don't they offer 'No Salary for Them" for coming ONE year for our great country & country men-women.

    July 15, 2011 at 3:45 pm | Report abuse |
  3. Hadenuf

    I just tuned into CNN and saw an interview with Rick Newman about the Debt Ceiling Limbo. I cannot possibly imagine a more distorted view of this situation. If you were to believe CNN and Mr Newman you would think that all of the money coming into the federal government went to pay for social security, medicare and long term unemployment. The report stated that if the debt crisis is not resolved by August 2nd seniors would not receive the SS checks, Medicare payments would not be made etc. Why don't you spend a few minutes detailing the billions and billions of $$ that are spent on other things in the federal government. The fact of the matter is that this type of journalism is a disservice to all Americans. It is not balanced. If the debt ceiling is not raised by August 2nd the federal government will have to decide which current bills it needs to pay and which can be delayed. The federal government does have enough money coming in to pay SS, Medicare and other critical programs. It is their choice to pay them or not.

    July 15, 2011 at 3:50 pm | Report abuse |
  4. ben

    @William Wallace: I've been stating that very thing for years. Welfare should end asap. The companies that are shipping jobs over seas for cheap labor should immediately start being fined with tariffs high enough to make it unprofitable for them to do so, however the tariffs should only be directed at American companies that are outsourcing jobs and not true foreign companies.

    July 15, 2011 at 4:25 pm | Report abuse |
  5. ben

    @Hadenuf: here is a staggering statistic for you, we currently spend 1.2trillion a year on the military budget(not including what we're spending on the wars), that's 100x the amount that every other country combined pays on their military budgets. The cost of all domestic spending, social security, medicare, medicaid, food stamps, welfare, education, accounts for around 600billion a year, that's three months worth of income tax the federal government takes in every year. Shows you where the true problem lies and it's not with social security or medicare. Now you can truly say you've had enough.

    July 15, 2011 at 4:34 pm | Report abuse |
  6. jj

    hadenuf: very well spoken! thats CNN for ya! wish i could articulate as well as you.

    July 15, 2011 at 6:01 pm | Report abuse |
  7. Wondering??

    Please correct me if I am wrong.... I was under the impression that the social security withheld from my pay each pay day was to pay into the socail security fund. this has been with held from generations of paychecks. The money in this fund should have nothing to do with the budget deficit or the lack of money in the government bank account. This is money that has been paid in and it should be there, have the government been writing checks on someone elses bank account? I thought that was fraud!

    July 15, 2011 at 8:38 pm | Report abuse |
  8. s kel

    jj just shut the hell up.

    July 16, 2011 at 3:54 am | Report abuse |
  9. Do

    The GOP should be renamed the GWP which stands for Greedy White People. They don't give a darn abuot the little people. Hopefully they will pay in the next election.

    July 16, 2011 at 12:16 pm | Report abuse |
  10. Jon

    To say that the Dems only want to raise taxes on the wealthy is misleading. There are not enough super rich people around to make a difference as far as revenues are concerned. For any tax increases to have a meaningful impact, they would have to extend to the middle class. What the Dems are not telling us is that they consider anyone with a decent-paying job to be wealthy.

    July 16, 2011 at 3:26 pm | Report abuse |
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