mr. powell great to have you on. the stage, we've been talking a lot about debt ceiling lately. how many times did congress raise the ceiling during your time, the treasury? >> it's been 20 years, two or three times. they weren't as stressful as this but a little bit of private hair pulling. >> i do know a number, congress acted 78 times since 1960 to raise the debt limit. point being this has been done more than a few times before. we hear secretary geithner's warnings, hearing them all morning long since before january. we know we hit the ceiling in may. what is it, mr. powell, that makes this time so difficult, so different? >> what's different is people in the country are upset, appropriately so, unsustainable fiscal position. our budget deficits at record levels. there's not a lot of faith congress will do anything about it. that explains 2010 elections and explains all the energy going into doing something now in connection with the debt increase that will return us to a sustainable fiscal path. >> we heard fro

and things will not move forward right here on the ground where they need to make for a while now mr powell let's take a look at the nine hundred eighty eight palestinian declaration of independence that was approved by the united nations so in that sense palestinians have every right to claim independence don't they. that's not a problem we don't deny that when have we denied that we have said that the palestinian state living side by side in peace and cooperation with israel is definitely considered by us as an interest of israel itself and we don't deny that we have heard israeli prime minister state and declared that in public from paris to edward but right from that and you know to ariel sharon the all say that so that's not even the issue the issue is will this palestinian state come out of an agreement because if there is no agreement there will be no recognition and no state and once it's established can we have the guarantees that this will be real peace or will this be only a phase in the palestinians plan to continue to combat and battle israel but under improved conditions from

mrs. powell says she and her husband routinely fed the homeless at night. >> he took a great person. he's still out there somewhere that i might even run into him and not know that he murdered my husband for no reason. whoever he is, it's not fair. i almost lost my daughter. >> powell is convinced it was mistaken identity. >> san francisco police say they have the gun but not the person who allegedly removed it from the scene of an officer-involved shooting. the gun fired in the bay view district. tests reveal kenneth harding was killed with a bullet from his own gun but that gun disappeared from the crime scene. over the weekend a neighbor led officers to a semi-automatic pistol. that was tested and it is harding's gun. >> east bay police found evidence proving a high powered assault rifle was used to shoot at a police officer. the officer was on foot patrol in the east bay regional park district when two men fired at him. he took cover but the suspects got away. the officer wasn't injured. poli

. >> mrs. powell is describing a terrifying scene, her family being the victims of a drive-by shootings. a gunman opened fire on the family as they are passing out food to the homeless in east oakland's. >> by opened my eyes and saw blood on the window. i looked over at my husband's and he had a bullet in his head. i might three-year-old got shot, a bullet went through her front arm in and out her back. she was still sleeping. her hair is gone right here. so i felt my sweater, i did not see a hole in my sweater or anything. i discovered i had been shot in my arm. the bullet is still there. i was crying and praying. i heard the van and drive away. i still had my eyes closed. i called to my husband and my kids. they started screaming and i told them to be quiet. i can try to shake my husband, he was breathing and i thought he was fine. >> powell says that when she lost paris she lost more than a husband. >> that was my only friend, the only friend i had, my husband. her >> the vigil is scheduled for 830

mr. paul. -- powell. this is how much the bill would be on august 3. host: do we have to pick and choose from that list, or is that everything that gets paid? guest: the one estimate we feel confident on as the social security payment. if you have $12 billion coming in, and a $20 billion of security payment. there is nothing to pick. he did not have the cash to make that payment. you do not have the ability to pay some recipients, and not others can read now, this is not a prediction that we are not willing to make that payment. if this is just a statement that there will not be enough cash. there are many things that could happen. that could be a deal, and we never pass this date. or, as happened back in 1996, congress passed a special debt limit exemption to allow the administration to bar just enough to pay that payment. if nothing happens, we will not be able to make that payment. host: we will get to pedro, a republican in florida. caller: my question is what is going to happen to the rest of america is the country default? host: what do you mean,

mr lawrence wilkinson the from the u.s. capitol many thought with fuel food said the former chief of staff to the former secretary of state colin powell many thanks for your thoughts. i can say with. these now with you yeah. that's right time for your business update well russia's continued to ease european vegetables back onto its domestic market produce from spain and denmark have been given the green light from russia's public health watchdog a ban on all vegetables from the e.u. the us put in place a month ago after an equal i'll break. russia began lifting the ban resuming vegetables imports from whole and. and another much longer standing ban has come to an end russia has returned to the. global grain market inspired by optimistic harvest forecasts grain next fall's were put on hold last year because of a serious drought the bent caused world prices to rise to the highest level for two years whether in this believe the end of the band will not have a reverse impact on the market. supply has been affected globally by poor weather conditions so there is there is a healthy shortage in crops so this comes as a welcome rest by in the

mr ambassador i'm going to you know i did during celebrations on saturday. in the new country there's going to be a lot of dignitaries there i think colin powell is going to be there the current u.s. u.s. representative the united nations susan rice is going to be there and a lot of other dignitaries is it all about oil i mean if it were any other if there were no oil there do you think a lot of dignitaries would be showing. yes yes i think there would be a lot of dignitaries showing up because yes oil is important but what is also important is that this marks the errand of a conflict which has gone on for almost a generation. i mean the warfare between between the north and the south has marred africa for for more than twenty years i want to take this opportunity though to jump in with respect to the mutual dependence of the south and the north on each other and with the particular focus on oil it's perfectly true yes indeed they're mutually dependent the question becomes whether the leadership of the two and here i would particularly focus on khartoum whether the leadership of the two recognize that fact and are willing to take that reality into account as

mr. moran: i would be happy to yield. . colin powell was there and many of the wounded warriors were there as well. team 6 that had just dealt with osama bin laden in a fairly definitive manner, team six was there. we couldn't identify them but we all applauded for them. the gentleman makes a very good point, colin powell was the master of ceremonies. this is what we want to eliminate? this is what is such a threat to our budget, taking so much money? it's not taking that much money. whatever money it's taking, it's giving back far more in return. mr. dicks: thank you for yielding. i hope we can defeat this unneeded amendment. mr. moran: i yield back. the chair: for what purpose does the gentleman from idaho rise? >> i move to strike the last word. the chair: the gentleman is recognized for five minutes. mr. simpson: i agree with the words spoke bin the gentleman from virginia and the gentleman from washington. in these tough economic times, it is important that we keep some things that are very important, i think, to the american peopl