our kate bould wlduan part of t best political team on television, she is live from capitol hill. kate, this was jessica yellin's question to the president yesterday, are they going to stick to the august 2nd deadline, what are they going to do? the president shot back, hey, guys, i'm working. you've got to work, too. what's going on? >> reporter: more than just announcing canceling the break, they may be feeling the pressure a bit. senate majority leader harry reid announced this morning they'll be canceling their planned july fourth break, next week, in order to be in session to continue working on the negotiations on the debt talks and the negotiations to raise the debt ceiling. the criticism it seems that came from the president was really it seemed aimed at house republicans who are out this week but back much of next. it seems that the senate is feeling the first consequences of this. but listen to the remark by the president. a very strong critique of congress for going out of town while these issues remain unresolved, this being a response from him to a response from our j

under the second alternative an issuer bould comply with the standard as long as it does not receive an interchange fee above a cap, again, recommended to be 12 cents per transaction. for both alternatives the proposal defined the allowable costs to be the average value of authorizing clearing and settling transactions, varied with the number of transactions performed by the issuer over a calendar year. the average cost of clearance and settlement. the value of the caps in both alternatives and the safe harbor in the first alternative derived from information gathered through a survey of covered debit card issue herbs that the board conducted last fall. the board received numerous comments about all aspects of the proposed standards including the proposed definition of allowable costs and the two approaches. issuers and networks overwhelmingly supported expanded allowable costs to include a wider range of debit card costs beyond the costs of authorization and clearance and settleme settlement. among the costs to be included is fixed possessing costs, network fees and fraud losses, as

under the second alternative an issuer bould comply with the standard as long as it does not receive an interchange fee above a cap, again, recommended to be 12 cents per transaction. for both alternatives the proposal defined the allowable costs to be the average value of authorizing clearing and settling transactions, varied with the number of transactions performed by the issuer over a calendar year. the average cost of clearance and settlement. the value of the caps in both alternatives and the safe harbor in the first alternative derived from information gathered through a survey of covered debit card issue herbs that the board conducted last fall. the board received numerous comments about all aspects of the proposed standards including the proposed definition of allowable costs and the two approaches. issuers and networks overwhelmingly supported expanded allowable costs to include a wider range of debit card costs beyond the costs of authorization and clearance and settleme settlement. among the costs to be included is fixed possessing costs, network fees and fraud losses, as