southern storms. at least two dead in oklahoma after tornadoes and softball-size hail leave behind a trail of destruction. on the stump. president obama launches his 2012 re-election campaign with a trio of fund-raisers, but it's what he said behind closed doors that has washington buzzing. and a desperate search. the frantic hunt for a young woman last seen being dragged the frantic hunt for a young woman last seen being dragged into the tennessee woods. captioning funded by cbs good morning, everybody, thanks for joining us, i'm betty nguyen. a powerful storm system that raked the southern plains

overnight is moving into the southeast this morning. the storms reached all the way from texas to the canadian border, but southeastern oklahoma was hardest hit. a large tornado ripped through the little town of tushka, 120 miles southeast of oklahoma city last night. the twister killed at least two people and injured more than two dozen. one resident, who took shelter in a storm cellar says when the tornado passed it felt like a bomb had hit. elsewhere in oklahoma and kansas and louisiana police reported damaging hail up to the size of softballs. georgia's legislature has passed an immigration bill similar to the controversial arizona law now being challenged in court. the georgia bill authorizes police to verify the immigration status of criminal suspects, and detain them if they're found to be in the country illegally. now, it's unclear if the governor plans to sign it into law. meanwhile, the republican dominated arizona legislature has approved a bill in line with the so-called birther campaign

against president obama. if signed into law, it would require mr. obama, and other presidential candidates, to prove they are u.s. citizens before their names can appear on the state's ballot. the president's 2012 re-election campaign is officially under way this morning. mr. obama kicked it off with three fund-raisers in chicago last night, calling himself a little dinged up, mr. obama told supporters that he understands their disappointment with the pace of progress. >> i know there are times where some of you have felt frustrated because we've had to compromise with the republicans on some issues. there have been times people are frustrated because we didn't get everything done in the first two years. there have been times where i've felt the same way you do. >> earlier in the evening, the president described the negotiations with republicans over the budget battle that nearly shut down the government last week. there were no cameras allowed, but someone left the microphone on.

>> you want to repeal health care? go at it. we'll have that debate. you're not going to be able to do that by nickel and diming me in the budget. you think we're stupid? >> mr. obama will get his wish to have that debate, because the same republican deficit reduction plan he was criticizing is expected to be passed today by the house. and as danielle nottingham reports, leaders of both parties are making their differences vividly clear. >> reporter: lawmakers in the house took to the floor, arguing over how the government should spend its money. >> instead of spending more and more and more, guess what? we're actually going to spend less. >> this bill is nothing more than a tea party checklist of targeting programs that help the most vulnerable. >> reporter: they're gearing up for a big fight over next year's budget. but first, both the house and the senate have to pass the plan they agreed on for this year. >> the bill is passed. >> reporter: now, lawmakers are focusing their attention on a vote set for friday.

it's on the republican spending plan for next year. the gop budget slashes spending. overhauls medicare and medicaid. and gives tax breaks to corporations and people in upper income brackets. president obama and his fellow democrats hope to push that plan aside with their own proposal, which increases taxes on people earning over $250,000 a year. >> it's not appropriate for us to ask for sacrifices from everybody, except for the 2% of americans who are doing best. >> reporter: but the republican who put his party's budget together says politics are getting in the way of progress. >> i was expecting the president to give a substantive, principled, legitimate critique of our ideas. and then to propose his own ideas. we didn't get that. we got a partisan broadside. >> reporter: both parties agree, it's time to cut spending. but the deep differences in how they want that to happen will lead to lots more debate in the

days ahead. danielle nottingham, cbs news, washington. the faa is looking for a new air traffic control chief, as it orders a top-to-bottom review of the system. this comes after several controllers were caught sleeping on the job. joel brown has more now from washington. good morning, joel. >> betty, good morning to you. yeah, it was the highest profile resignation yet. the sleepy air traffic controllers have woken up washington to the dangers, and lawmakers want answers. the faa is trying to put the issue of sleepy air traffic controllers to rest. following seven incidents where staffers dozed off on the job, air traffic chief hank krakowski abruptly resigned thursday. the faa is also beefing up shifts, adding a second person to overnights at more than two dozen airports and conducting a sweeping review of the entire system. >> we'll get to the bottom of this. but i want the flying public to know we're not sitting around trying to, just make excuses. >> reporter: the shake-up comes

after a medical flight with a sick patient couldn't make contact with a sleeping controller in reno wednesday. >> they're not answering the phone line either. >> reporter: the pilot eventually landed safely, but the incident only added to growing concern over controller exhaustion. >> people are being scheduled to a point where they are really getting fatigued by virtue of their schedule. >> reporter: the heads of the faa and the air traffic controller's union met privately with lawmakers thursday. one congressman stressed that the faa needs to help its employees keep their skills sharp. >> sometimes even the best professionals need to better and reoccurring training. >> reporter: according to the faa, suspected controller errors jumped in 2010 by more than 600. even the more than half were considered minor, it may not be very comforting for passengers, already on edge. >> you travel knowing that you have that security blanket up there, and if they're not doing their job, then it makes you a little nervous to travel. >> reporter: officials hope their latest steps will help fix

the system, and ease those nerves. not everyone's on board with adding a second controller to the tower. republican john mica argued that many of these airports, see few if any flights after midnight and adding a second staffer with an average salary of $161,000 a year would be a waste of money. betty? >> all right. joel brown in washington. thank you, joel. a new u.s. spy satellite is in orbit this morning. it was launched atop an atlas 5 rocket last night from vandenberg air force base in california. the top-secret satellite will be operated by the national reconnaissance office. this is day two of a high-level nato meeting on how to force libya's moammar gadhafi out of office. secretary of state hillary clinton and other nato foreign ministers are meeting in berlin. the u.s., britain, and france have promised to keep the military pressure on libya. but libyan tv aired video it said shows gadhafi defiantly pumping his fists, as he was driven through the streets of tripoli.

now, to the disaster in japan where residents forced from their homes by that crippled nuclear plant will be getting paid compensation. the government ordered the company that runs the fukushima power plant to pay 1 million yen, which is about $12,000, to each family forced to evacuate. individuals will get the equivalent of $9,000. just ahead on the "morning news," a major recall for america's favorite pickup truck. plus, look out, a man somehow survived a horrific traffic accident caught on tape. oh, my goodness. that's the "cbs morning news." oh, my goodness. that's the "cbs morning news." . but i was still taking a foolish risk with my cholesterol. anyone with high cholesterol may be at increased risk of heart attack. diet and exercise weren't enough for me. i stopped kidding myself. i've been eating healthier, exercising more... and now i'm also taking lipitor. if you've been kidding yourself about high cholesterol...stop. along with diet, lipitor has been shown to lower bad cholesterol 39% to 60%.

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an intensive search continues this morning in western tennessee for a young nursing student seen being abducted from her home. 20-year-old holly bobo's brother told police he saw a man in camouflage clothing dragging her into the nearby woods. her mother is pleading for help. >> holly, i love you so much. please try to get home to us. and if anybody knows anything about her, please, please help us find her. she's just so precious. you just don't even know. >> police say blood was found outside the home. on the "cbs moneywatch," stocks in asia were mostly down today. ashley morrison is here in new york with the latest on that. good morning, ashley. >> good morning to you, betty. stocks went south in most asian markets after china reported a jump in inflation. tokyo's nikkei fell almost 1%, while hong kong's hang seng lost a fraction. also this morning, moody's downgraded ireland's government

bond, deepening the debt fears in europe. today, wall street gets the latest on consumer prices and industrial production. on thursday, stocks finished with small gains despite a jump in the jobless claims report. the dow closed up 14 points while the nasdaq gave back 1. the s.e.c. is reportedly close to settling fraud allegations with several big banks. "the wall street journal" says a settlement could come as early as next week. federal regulators have been investigating the sale of toxic mortgage bonds that helped trigger the financial crisis. firms being scrutinized for misleading investors include jpmorgan chase, citigroup, and ubs. none of them is expected to face as big a fine as goldman sachs which paid $550 million last year. a rare disappointment from google. after the closing bell first quarter earnings came in below expectations as the internet search leaders set up hiring which drove up its costs. investors have been concerned

that google's earnings might suffer because of its plans to hire at least 6,200 workers this year. that's the most in google's 13-year history. under pressure from the government, ford is expanding its recall of f-150 pickups. the recall now includes nearly 1.12 million trucks, model years 2004 through 2006, because of an air bag defect. the transportation department says there has been more than 300 complaints that faulty wiring can cause the air bags to deploy accidentally, and without warning. ford recalled 144,000 trucks in february for the same reason. this expanded recall is expected to cost the automaker more than $180 million. and it's another nail in the coffin of daytime soap operas. abc is canceling "all my children" and "one life to live." they had both been on the air for more than four decades but ratings had been steady dropping and abc pulled the plug. there were once 19 soap operas

on daytime tv. now just four remain. and i can honestly say i've never gotten into the daytime soaps. >> really? i used to watch them a long, long time ago. i'm just too busy now. i can't, unfortunately. ashley morrison joining us live in new york, thank you. straight ahead your friday morning weather. and in sports a show of force at dodger stadium to clamp down on fan violence. >> going to a job interview, i make sure i've got the right guidance. it's the same with my taxes. turbotax has a unique gps feature that guides me step-by-step. and calculations are guaranteed 100% accurate. they even offer audit support. and help me reach my maximum refund, guaranteed. >> man: try turbotax now. ugh, gravity.

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in some cities around the country. new york, it's sunny, 57 degrees today. miami, partly cloudy, 87. chicago, rainy, 51. dallas, windy 73. l.a. a sunny 81. time now for a check of the national forecast. the latest satellite picture shows a major storm system in the middle of the country, while the northeast is calm and clear. later today the severe weather will drive eastward, putting the gulf coast up to the ohio river valley at risk of dangerous winds, large hail, and tornadoes. and most of the southeast will be warm and humid. in sports, there was a game last night at dodger stadium and a lot of those in blue were also wearing badges. extra police were on hand to head off fan violence in response to the severe beating of a giants fan on opening day. in the game itself, albert pujols hit his second home run of the season. st. louis went on to beat the dodgers 9-5. colorado's troy tulowitzki

homered in both games of a doubleheader with the mets in new york. the rockies won 6-5 in the first game and 9-4 in the night cap. tulowitzki leads the majors with seven home runs. the mets have lost eight of their last nine games. in the american league, the yankees rallied against baltimore in the bottom of the 10th. new york's nick swisher hit a sacrifice fly to drive in the winning run. final score, yanks 6, orioles 5. and golfer kevin na has set a pga record but not in a good way. at the texas open in san antonio, na went into the woods on the ninth hole and wound up with a 16. that is a new mark for the worst par 4 hole in pga tour history. well, when we return another look at this morning's top stories. and the wedding is still two weeks away but william and kate's marriage is already stamped for a blitz. pooches and puppies, we are fed up

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how a woman, risked her life to try and save her husky. plus.. the bay bridge, closer to topping off its new tower. what's next, for the project. and when you'll need to look out for detours. a new theory on the cause of the san bruno blast.. what may have happened underground.. just before the explosion. a mad dash.. for dirt cheap gas. what some lucky bay area drivers were able to pay. and.. how you could earn more off your used car. join us for cbs 5 early edition ... beginning at 4:30. ,,,,

on the "cbs morning news," here's a look at today's weather. a powerful storm system is battering the plains with snow in the north and thunderstorms, hail and tornadoes in the south and east. things are calmer in the northeast, and on the california coast. here's another look at this morning's top stories. severe storms blasted the southern plains, and points east overnight. two people were killed by a tornado in southeastern oklahoma. and getting air traffic controllers under control. the faa fires a top official and orders a top-to-bottom review, after several traffic controllers are caught sleeping on the job. the world's oldest man has died at the age of 114. walter breuning lived in great falls, montana, and was in remarkably good health until just recently.

born in 1896, breuning credited his long life to embracing change, not eating more than two meals a day, and continuing to work as long as he was able. now, for the record, the world's oldest person is betsy cooper of monroe, georgia. she is 114, born 26 days earlier than walter breuning. now, what could go wrong with plans for a stamp to mark the upcoming marriage of britain's prince william to kate middleton? well, turns out quite a bit. the tiny pacific monarchy of niue where queen elizabeth is formerly the head of state, ordered a will and kate stamp. but it has a perforation right down the middle, which makes it easy to separate the royal couple. look at that. not an ideal picture for the royal marriage, would you say? no. all right. moving on to this, schoolchildren everywhere learn about dinosaurs, but not many get to actually meet one in class. kids at a school in australia, did. well sort of. jacqueline maddock of 10 news was there.

>> reporter: here's something you don't see any day. squeals of delight and terror as an animatronic tyrannosaurus rex wandered boldly in. the dinosaur may be 100 million years old but he's lightning fast. fortunately, he just ate a big breakfast. kinder kids stood gobsmacked. older students put on a brave face. >> i was like freaked out. excited. >> i liked to pet him. >> reporter: do you want to see him again? >> i would like to. >> reporter: you can. along with 16 others. >> this is the baby of the show. the large creatures are phenomenal. the way they move. the way they interact with each other, it's absolutely captivating. >> reporter: it's earned $350

billion for its australian creators. there are no bones about it, walking with dinosaurs with the most popular tour in the world. being seen by almost 7 million people and it's returning to australia in august. whoops. sorry, rex. maybe that april. jacqueline maddock, 10 news. jacqueline maddock, 10 news. nu. after 1 week we took their close-ups. when they saw how much more beautiful their skin looked they had only one question... ♪ new dove visible care creme body wash. ♪ these ladies have been exercising, watching their diets and enjoying activia light. well? i've lost a few pounds and i've never felt so light. at 70 calories, delicious activia light helps you be light and feel light too. ♪ activia but i wasn't winning any ribbons managing my diabetes. it was so complicated. there was a lot of information out there. but it was frustrating trying to get the answers i needed.

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as we reported, congress tackles next year's budget today, and that will require raising the nation's debt ceiling. the cap on how much the government is allowed to borrow. right now that limit is $14.29 trillion. but, $14.22 trillion has already been borrowed. so we are just $70 billion away from having the credit cut off. anthony mason reports. >> reporter: this is the control room of the american debt machine. the u.s. treasury auction room. where it borrows billions every week from investors here and

around the world, to keep the u.s. government running. but if congress fails to raise the debt ceiling, the treasury's credit card would hit its limit. this room would shut down, and the u.s. government could go into default. >> the consequences of that would be catastrophic to the united states. >> reporter: treasury secretary tim geithner, before congress, and in an interview, warned those consequences would be worse than the financial crisis we just went through. what's the risk if we hit the ceiling? >> we shake the basic foundation of the entire global financial system >> reporter: >> reporter: because america's debt is the gold standard of the world. the u.s. has always paid back with interest. >> if you default on the debt, which has never happened in our history, we now have a whole different world. if you can't trust u.s. treasury securities, what can you trust? >> reporter: rick is a former governor of the federal reserve. >> this is what they do in countries like argentina. this is not what we do in this country.

>> reporter: interest rates would soar. the stock market would plummet. geithner estimates at the current rate of spending, we'll hit the debt ceiling, $14.29 trillion, about may 16th. >> starting in the end of may, we start to run on fumes. and you know, that's not something you want to do for an economy that's coming out of this traumatic a crisis. >> reporter: the treasury can buy about eight weeks through accounting measures. but by early july, it will run out of options. >> then we have to stop paying benefits to veterans. recipients of social security. medicare. >> reporter: are you expecting this to get pushed right up to the brink? >> there's some people up there who want to take it to the brink. but that would be irresponsible. you can't let it get too close to that. >> reporter: because? >> because, again, if you take it too far, then people will start to wonder. whether we're going to make it. >> reporter: how much does the debt ceiling need to be raised? the treasury secretary says, that depends on how soon congress wants to come back and vote on it again. it's been raised five times over the last three years, on average $900 billion each time. anthony mason, cbs news,

washington. coming up a little bit later on "the early show," the latest on the deadly tornados that struck oklahoma and threatened at least four other states. plus, should the only approved over-the-counter diet pill be banned? >> and tips for easing the pain of filing your taxes on time. yes, time is running out for that. and for us. that's the "cbs morning news" for this friday. thanks for watching, everyone. i'm betty nguyen. have a great day. ,,,,,,