>> i need your executive director of cnbc. -- i am the executive director of cnbc. i want to welcome you to this truly joyous occasion, commemorating the completion of the rehab of civic center residents. we bought this building 38 years ago, and it has been through a couple of partial rehabs before now, but before now, this had leaky plumbing, inadequate electrical. it was just one, slow elevator, and a dingy community kitchen. you can see what a beautiful space it is now. we raised $30,000,000.20% of that came from the mayor's office of housing. -- $30 million and 20% of that came from the mayor's office of housing. the department of public health is providing subsidies for the 100-plus homeless households' living here. housing and community development, enterprise. hundreds of staff people coming together to bring this beautiful project to fruition. in that sense, this is our model for preserving affordable housing in san francisco and throughout the country. for another 30 years, this will provide an affordable home for generations of low income people. with tha

"hardball" was then a production of cnbc and would move to msnbc two years later.msnbc bought its way into the news cycle that first day as so many news organizations do during presidential elections by commissioning its own poll, which showed bob dole trailing bill clinton by 20 points in clinton's campaign for reelection. in that first hour of the network's life, i was asked to alpine on the new poll in a panel discussion that included input from tim russert who was asked if there was any way dole could save his campaign by a selection of a running mate. >> well, the only one is colin powell, he's not going to do it. now bob dole has krused the field to governor of ohio, pennsylvania, former secretary of state, jim baker. but none of those candidates will give bob dole an immediate pop in the polls. bob dole is going to have to win the race on his own, lay out an agenda, a rational. he has to convince the country that he has a reason to be president other than it's just his turn. >> all right, a former congressional aide to mornahan. what's your take on all this?

that's it from cnbc. we're first in business worldwide.k to "hardball" and chris. >>> this is america. how many of you people want to pay for your neighbor's morning that has an extra bathroom and can't pay their bills? raise their hand. president obama, are you listening? we're thinking of having a chicago tea party in july. all you capitalists that want to show up to lake michigan, i'm going to start organizing. >> that's of course rick santelli of cnbc, creating the name, at least, for the tea party. that was, of course, the infamous battle cry back in 2009. since then, the tea party's effectively taken charge of a big chunk of the republican party. could the republicans' big engine blow up on them? josh has a piece in theatlantic.com. tough stuff. josh joins us with a familiar face here, the president of freedom works, one of the largest tea party organizations. josh, make your charge. >> well, my charge in the column is that the tea party has actually won with a great victory already. if there's any kind of a deal, $4 trillion or $2 t

with the cnbc market wrap, i'm brian sullivan. back to you, martin. >> thank you.would stick around to join us for a conversation as we keep an eye on the market, and bring in luke russert at capitol hill and welcome cnbc political analyst karen finny in washington joining us. and brian, what is the long-term damage in simple terms if washington does not pull this deal together by monday? >> one is the dissolution of consumer confidence. this is 75% of the consumer economy is spending. we have been interviewing americans and they are nervous and watching d.c. and the outcome and they are not spending. if they slow down, the whole economy slows down, and there is also a concern about the interest rates. if we get a credit rating downgrade, it is likely that some suggest that interest rates across all of the different levels of the bond market will go up which means if you have a variable rate mortgage or a mortgage or equity line that is something that, you know, turns every time the feds or the interest rates make a move, you will be essentially paying higher inter

ramping up the pressure, according to s&p. >> steve sedgewick helping us out for cnbc. thanks so much. now with the deadline to reach a deficit deal now exactly two weeks away, the rhetoric as you've witnessed heating up as lawmakers scramble to try to strike a deal. the house is expected to vote today on what it calls the cut, cap and balance plan. that's the republican-backed legislation that includes a constitutional amendment requiring a balanced budget. it's a measure that the white house has warned that president obama would veto and yesterday press secretary jay carney outlined the obama administration's exact objections. >> what we are witnessing here with this measure is classic washington posturing, kabuki theater. this is a measure that is designed to duck, dodge, dismantle. duck responsibility, dodge obligations and dismantle, it would require the dismantlement of our social safety net, social security, medicare and medicaid. >> that's a talking point. the house plan is an alternative to a senate compromise offered by minority leader, mitch mcconnell, one th

and now david faber who has joined us from cnbc. with the impact of this so far and perhaps to come. give us a damage assessment if it all stopped today. and is there any telling where this goes? >> certainly there's no telling where it goes, as you heard stephanie report, brian. we are, of course, and many investors are focused on what happens now in the united states. when the fbi starts to issue subpoenas, if fact they do, who knows who they will find, if they're looking for hacking, the possibility economists that they'll find that it occurred in the u.s. rupert murdock has really never faced anything like it. for his long career, he was unable to dictate the course of events. and he did an about face this week. he began this week with his arm around rebecca brooks, the woman who ran the news international. and les henton, a man who brought his sandwiches when he was 15 years old, who has been there for 57 years also gone. james murdock, number three at the corporation. from here we simply don't know, but it is far from over, al

and we'll have much more on this story tonight on a cnbc special report, called "empire under attack" it airs at 7:30 eastern time on cnbc. >>> three powerful bombs exploded today in india's financial capital mumbai killing at least 21 people, it was the worst terrorist attack in mumbai since 2008. our coverage begins tonight with chief foreign correspondent richard engel. >> reporter: the bombs were well hidden and coordinated to explode at the height of mumbai's evening rush hour. the first exploded in a renowned jewelry market just before 7:00 p.m. a minute later, a second, more powerful device went off in a crowded business district near a bus station, one bomb was apparently hidden under an umbrella, the other in an electric circuit box. after two back to back explosions, police knew, mumbai was under attack by terrorists. then a third bomb believed to have been in a taxi, exploded downtown. police locked down the city. >> the entire city of mumbai has been put on high alert. i would appeal to the people of mumbai and people all over the country to remain calm and maintain peace.

cnbc's david faber joins us in new york for some insight. david, this has now reached to one of murdoch's top deputies. what does this do to his damage control efforts. >> he's been trying to do damage control since the middle of last week in some ways when he finally started to distance himself from rebekah brooks who resigned, of course, a couple days later. the scandal does not appear to have crested yet. despite giving up the purchase of b sky b for what would have been a $12 billion deal for news corp., a huge important deal they wanted to complete in the uk and, of course, letting go of rebekah brooks and his long time lieutenant les hinton. >> on a personal level for murdoch and especially his son, are they in some sort of legal jeopardy? >> james murdoch has got to be the focus right now. because of course rebecca brooks and les hinton both having been gone, james murder okay runs news international. he has the number three position at the company, essentially, after chase carey, an executive who's not part of the family. that is the

cnbc's david faber joins me now. there is no way to sugar coat the numbers. is the bottom line was the recession deeper than any of us thought? >> the recession was very, very deep. we had a very difficult time climbing out of it, no doubt. in fact, more difficult than many people had even anticipated given the numbers you mentioned, lester. job creation, as people know at home, is very, very slow. and consumer demand continues to be rather slow. in the first half of this year, especially the second quarter, the consumer was dealing with higher oil prices, not willing perhaps to spend as much given how much the price at the pump was going up. we're also in the middle of earnings season on wall street. while names like apple and amazon and google are making lots of money, the industrial economy, companies like illinois tool works, caterpillar, they're not saying particularly good things about the future. that gives us pause in terms of the second half of the year. >> we have been watching the stock market, some reaction, nervousness to the whole debt crisis. i

cnbc says we've jumped 11 points, 11 places in terms of business-friendly.redit agencies say your credit, we have taken you off negative watch. when you provide certainty to people, then they are able to respond to it. and what we're seeing in ohio are positive things. if they did it in washington, we'd be better. >> i want to get a break in here. i want to talk more about the issue of jobs, the overall economy, when recovery will actually feel like recovery, including the debate over taxes and the relationship to economic growth. more with our panel after this. she took mommy's temptations... ♪ ...now she's polishing coal. ♪ new temptations, it's the first jell-o that's just for adults. a living, breathing intelligence that's helping drive the future of business. in here, inventory can be taught to learn. ♪ machines have a voice. ♪ medical history follows you. it's the at&t network -- a network of possibilities... committed to delivering the most advanced mobile broadband experience to help move business... forward. ♪ dr. scholl's custom fit orthotic center

cnbc says we've jumped 11 points, 11 places in terms of business-friendly. the credit agencies say your credit, we have taken you off negative watch. when you provide certainty to people, then they are able to respond to it. and what we're seeing in ohio are positive things. if they did it in washington, we'd be better. >> i want to get a break in here. i want to talk more about the issue of jobs, the overall economy, when recovery will actually feel like recovery, including the debate over taxes >>> we're back with our discussion about the economy, which continued even during the break because this is a hot topic, as you know, and these are spirited folks. all right, i want to talk about the debate over taxes, and it's very interesting. you had house speaker john boehner on friday say the following about these debt talks and taxes. >> our stand on the debt limit has been clear -- there can be no tax hikes, because tax hikes destroy jobs. >> that's the assertion. is that really true? ron brown's team took a whack at that in his column in "the national journa

cnbc says we've jumped 11 points, 11 places in terms of business-friendly.t agencies say your credit, we have taken you off negative watch. when you provide certainty to people, then they are able to respond to it. and what we're seeing in ohio are positive things. if they did it in washington, we'd be better. >> i want to get a break in here. i want to talk more about the issue of jobs, the overall economy, when recovery will actually feel like recovery, including the debate over taxes ♪ [ mrs. davis ] i want to find a way to break through. to make science as exciting as a video game. i need to reach peter, who's falling behind. and push janet who's 6 chapters ahead. ♪ [ male announcer ] with interactive learning solutions from dell, mrs. davis can make education a little more personal. so every student feels like her only student. dell. the power to do more. ♪ ♪ ♪ ♪ look at that car, well, it goes fast ♪ ♪ givin' my dad a heart attack ♪ [ friend ] that is so awesome. ♪ i love my car [ engine revving ] [ male announcer ] that first chevy, yea, it gets under

cnbc's geoff cutmore is live. we heard christine la gafrmd how concerning is it for the u.s.? >> the world's largest economy and also one of the biggest borrowers, something like 40% of u.s. debt is owned by foreigners, and that's why there is a great deal of concern about this august 2nd deadline being met not only about the potential for default, but also that the ratings agencies potentially move to downgrade the aaa rating because if they do that, an initial move would immediately mean funding costs in the u.s. go up by possibly another $100 billion a year. so concern from the imf as we heard, but s&p and other ratings agencies watching things very closely. s&p saying they're not going to comment officially on various plans that are being put forward by legislators right now, but we know, of course, back on july 14th, the rating put on watch on a negative buyer. so people are looking very closely at this. and, willie, while i'm with you, i wanted to chip in and say to all the folks at are cnbc congratulations to you. >> appreciate it. thanks so much, geoff. >>> we want to

maria bartiromo on the ground for us from cnbc. >>> overseas tonight in great britain that reverberate all the way to parliament, the phone hacking scandal now shut down an entire newspaper, is only getting uglier, there's dire warning of more damning revelations to come and today the first arrests in the case, after so many violations of personal privacy. michelle kosinski has the latest from london. >> reporter: a day after the 168-year-old news of the world fell to a scandal of its own making, two former top employees were arrested. an editor who once served as the prime minister's communications director and a reporter who served prison time for hacking into the paper back in 2007, when victims included celebrities and the royal family. today the offices of his current employer, "the daily star" were raided by police. and the prime minister vowed no stone will be left unturned. >> if these people could have had their phones hacked into in order to generate stories for a newspaper is simply disgusting. >> reporter: now even more questions. were other papers doing this? why were poli

. >> cnbc's darren rovell is covering this from the cnbc headquarters and you have looked at the dealwhat is the consensus and the thinking? will it be approved by the players? >> well, the problem, jeff, is that it is not the exact deal the players thought they would get. in other words, a couple of things in there they would like to change and there has been criticism that the owners essentially approved their own deal. they have gotten a lot of things done and pretty close, but they certainly did not vote on it wednesday. the players were to vote wednesday and the owners thursday and we thought that deal done by tomorrow, but it does not look like they will vote today either out of respect to bob kraft, the patriot's owner, because his wife's funeral is today. that brings us to saturday, and sunday and maybe monday and tuesday and we have already missed the hall of fame game which is the first preseason game. we go into wednesday and thursday, and there is $200 million of preseason games on the line. so, it really is crunch time, and there is a lot of people honestly who are surpri

cnbc's maria bartiromo is with us tonight and they did not, nobody wanted an uptick in the unemployment number. >> reporter: the unemployment rate went up to 9.2%, the number of new jobs created at a very, very lou rate. 18,000. we were expecting 120,000 new jobs created for june. it was tough all around, businesses cut jobs, state and local governments cut jobs, even in education, it was a surprise on the downside and it indicates that we are very much in a slow ntributed to it.that has lly not and it's still very much tough going for most americans today. >> and maria, last time you and i spoke we talked be it the possibility of this so-called double dip recession, you never quite recover and then you go into another one. >> if i had to make the bet, no, we're not going to see two consecutive quarters of negative growth which is what the recession would be. however, you and i talked the last time, it doesn't really matter what you call it, you could call it cupcakes, whatever it is, it just doesn't feel good. so we may not be in a double dip recession necessarily, but it feels like on

and bill sullivan is live for us at cnbc headquarters for us. well, let's talk about this if we can, because you heard of the conversation with jonathan about the politics behind this, but think of the economics behind this. this is trillions of dollars in securities held here and around the world attached to the aaa credit rating or the stock market. the fundamental issue is this, nobody knows what would happen if we have a debt downgrade to a aa. maybe nothing would happen. maybe it would be sort of stock market or economic disaster. anybody who comes on your program, martin, and says they know, send them over our way, because we'd like to meet them, because the reality is that computer kons troll controls so if we were to get the credit rating downgraded, we don't know the outcome, and that is the scary part. >> but, brian, we have had four days where the dow has gone down, and this could be the worst week in the dow's performance since april off this year, so that the signs are already negative whether you wish to project or prophecy about t

get all your business news on cnbc. >> and scott mcgrew will get your day started with business news morning. >>> next on "today in the bay" our political analyst larry gerston joins us to talk about the debt ceiling showdown in washington and what it means here in the golden state. >>> good morning. i'm mike inoye. fat beats, sounds like a great name for a band but it times create healthier food systems while nurturing the food in the city. they kick off a new venture combination flea market and farmers market. you can get the plates for dinner, the food to cook and some food for thought. you don't want to eat in? grab some grub on the way to the drive-in. yes, the drive-in. well, that's what it says. you drive out to novato to hamilton field where on the side of the building, the theater there, you'll see the biggest bug you've seen in a long time. the north bay mobile drive-in movie tonight. it screens "alien." the sci-fi mohorror classic. it's rated r for violence and language and stars that lady from "avatar" before she went blue. if that battle is a bit too intense for your sat

. >>> i'm hampton pearson with your cnbc market wrap. stocks ending lower but off session los. industrial falling 94 points. it had been down about 170 points around noon. the s&p 500 sliding 10. the nasdaq giving up 24. >>> one investor telling cnbc today that it wasn't like uncertainty hi gone away over the weekend. ongoing european debt concerns and a lack of progress in the debt ceiling talks here at home all weighing on stocks today. >>> financials under pressure after barclay the cut its price targets on citigroup and started digging in stress tests on european banks that came out last week. >>> kniss corp. continues to slide with the phone hacking scandal expanding over the weekend, and ibm posting quarterly earnings after the closing bell. share, climbing in after-hour trading on better than expected results and an improved forecast. the tech giant reported double digit increases for hardware, software and services. >>> that's it from cnbc, first in business worldwide. now back to "hardball." >>> welcome back to "hardball." michele bachmann's political star rose in minn

as i jump back, cnbc confirms what i thought. pull the trigger -- done.is on my smartphone. really, it's incredible. like nothing i've ever experienced. unleash your investing and trade free for 60 days with e-trade. >>> welcome back toç "hardball" no norway, 100,000 health a vigil to mourn the people killed in a massacre in a summer camp and bombing outside an oslo government building. this morning, breivik appeared in court pleading guilty to the murders and saying in court in his 1500 page manifesto, his goal, save europe in muslim immigration and influence. brian levin from the study of height and extremism. i used the phrase earlier in the program about a different topic. if you came from another planet and tried to explain the horror this past weekend, how would you explain the motivation behind it? >> well in a couple ways. first we have to look at the idiosin consideratic. this person considered himself a warrior. and folks who have prejudices who consider themselves warriors will stop at nothing. but i think there's something else. i think what

that's it in cnbc first in business worldwide. back to "hardball." >>> welcome back to "hardball." congresswoman michele bachmann is back in the headlines after it was reported earlier this week she siffers from migraine headaches which at times incapacitated her for days. is this a valid campaign issue or an instance of sexism? joining u.s. to talk more about that and a nasty feud between debbie wasserman schultz and congressman allen west, clarence, i'm trying to think of the analogous situation historically speaking for when the health of someone running for president has been questioned, and i can't quite find it. you know, it's not exactly tom eagleton. a far more extreme set of circumstances. it doesn't feel quite like questions about ronald reagan's age, either. how do you see this in a historical context? >> as long as it's not as questionable as tom eagleton, because he was -- it was revealed he had taken shock treatments for depression, and in those days, that was very scary to many people. the public didn't understand i

back to you. >> all right, melissa francis at cnbc's world headquarters.aking of news corp, just moments ago, another resignation over the phone hacking scandal. the fallout continues. we're live in london after the break. >>> is a big announcement here at home. nbc news and facebook are teaming up to present a first of its kind presidentials debate in the first in the nation primary state. "meet the press"/facebook gop debate will take place before the new hampshire primary, moderated by david gregory. it will hair this sunday before the primary. it will stream on facebook, msnbc, nobody better to partner with than us because we can put it in so many places. you're watching "the daily rundown," only on msnbc. almost tastes like one of jack's cereals. fiber one. uh, forgot jack's cereal. [ jack ] what's for breakfast? um... try the number one! [ jack ] yeah, this is pretty good. [ male announcer ] half a day's worth of fiber. fiber one. [ jack ] yeah, this is pretty good. woman: saving for our child's college fund was getting man: yes it was. so to save so

special correspondent tom brokaw, former democratic governor of michigan jennifer granholm, host of cnbc's "mad money," jim cramer, and a tea party-backed freshman republican congressman from idaho, raul labrador. >>> good morning. still an unfolding story here in washington, the battle over raising the debt ceiling has entered its final hours. after weeks of negotiations, pointed political debate, some signs now that a compromise plan between congressional leaders and the white house could emerge as early as today. the senate majority leader, harry reid, postponed an overnight vote on his own debt limit measure and announced late last night that the senate would instead reconvene at noon today and hold off to the vote at 1:00 p.m. eastern time. >> there are many elements to be finalized, many elements to be finalized, and there is still a distance to go before any arrangement can be completed, but i believe we should give everyone as much room as possible to do their work. >> signs of progress also echoed by republican senate leader mitch mcconnell and speaker boehner. >> our country is n

as i jump back, cnbc confirms what i thought. pull the trigger -- done.st of this on my smartphone. really, it's incredible. like nothing i've ever experienced. unleash your investing and trade free for 60 days with e-trade. >> i am not smarter than a fifth grader. humiliating consequences. that woman, however, not trying to solve our massive debt or again an economy in general. . the spending cuts meanwhile, congress is promising are in fact so far from reality it's laughable. i'm talking about hundreds of billions in lies, in both the plans. imojen and jonathan. at cnbc when you do financial television, you can argue all day about why something has happened, whether it will continue to happen, whether you are right or i am right, but i can't say google stock was up and why was it up and you can't say actually google stock was down. i can't go to sports and say why did the red sox win? you can say it's because of the pitching, and no it was because of the fielding, and you say no, it's because so-and-so had an error, but i can't say, no, the red sox didn

and the director of housing developments at cnbc. i have now added 5 new tool to my project manager tool kit. number one, always be patient. number two, never panic. the problem is really not that bad. number three, always trust your team to find the answers. number four, try to find humor and irony in every situation. no. 5 -- which is pertinent to today -- take time to celebrate the miles talents and recognize the achievements of others. i would also like to take a moment to highlight our founder's spirit without their financial contribution and support, ccr would not have had the opportunity to be revitalized. they did to the city and county -- county office of separate discovery development agency, enterprise, our tax credit investor, a wells fargo bank, our construction lender, the federal home loan bank of san francisco through its affordable housing program, far east national bank, a program that sponsor, the california financing agency, the state of california department of housing community development, and finally, -- one m

nicole lapin live at cnbc headquarters with our news before the bell. good morning, nicole. >> a very good morning to you, laura. futures are higher this morning as stocks closed lower for a third straight day. investors shrugging off the latest fed meetings which suggested some officials were considering more stimulus plans if the economy continues to slow but the fed isn't ready to take action yet. markets focused on europe's debt crisis as moody's cut ireland's bonds to junk status. asia rose overnight after reported its economy grew faster than expected this spring. europe was higher. a lot of the attention is going to be on capitol hill as you rightly know as fed chairman ben bernanke is testifying on the economy. to recap the market action yesterday the dow fell 58 points, 12,446 is where we closed. nasdaq composite lost 20 to 2781. the treasury department will announce today that as of january 1st, banks will no longer sell paper savings bonds of you're going to have to buy bonds electronically through the treasury website now. could save the gov

that's it from cnbc news in business worldwide. now back to "hardball." >>> extreme.literally like hell on earth. >> a lot better than a blizzard, but still not good. >> really, really hot. >> very, very, very hot. >> welcome back to "hardball." i just read a provocative piece in "the l.a. times" that got me thinking, what if this heat wave is happening because our planet is overpopulated. the article by mary ellen hart reads, the effects in overpopulation play a part in every daily report of human calamity. the world population is rarely mentioned. wildfires threaten evermore people because expanding populations are moving near and into forests. such extreme events are stoked by climate change. fueled by increasing carbon emissions from an expanding global population. lester brown is president of the earth policy institute. bob engelman is the executive director of the world watch institution. both are environmental think tanks in washington. lester, i took a walk in central park last night. i was so moist when i came back and dropped the clothes in the corner of my

that is it from cnbc, first in business worldwide.s, brian. >>> to religion and politics now. new indications of the incredible influence a candidate's faith may have in the election process. a new study just released today shows some 56% of voters say, quote, it is very important for a candidate to have strong religious beliefs. that is regardless of whether they share the same views in faith. for more on this, we are joined by "huffington post" contributor frank schaffer. good afternoon, frank. >> hey, martin. >> how are you? >> doing well. how about you? >> and now, in secular europe, people say that politics plays no part in, sorry, religion plays no part in politics. how corrupting is the influence of religion on the political process in this country? >> well, if you think that politics should be about facts, then religion can be very corrupting and is, because you have people who come to the table for instance the 86 members of congress that the tea party sent there with faith-based politics, rather than fact-based politics. so

that's it from cnbc, first in business worldwide. back to "hardball." >>> welcome back to "hardball." watching the battle on capitol hill these past few weeks. outside interest groups have also been eaker to throw stones at their opponents in this debt fight. millions of dollars spent on ad buys attacking the president, but if the country defaults and the economy suffers, don't the president's re-election chances suffer as well? nbc political analyst and an associate editor and columnist at "the washington post" as well as an msnbc analyst. gentlemen, i want to show you previews of coming attractions. actually, house speaker john boehner is set to speak from capitol hill. so stay right where you are's we're going to take the speaker's remarks. >>> -- rather quickly. today's report on the economy reminds us that our economy is still not creating enough jobs. americans are worried about finding work. they're worried about our economy, and they're worried about the mountain of debt that's facing them and their children. today we have a

go to cnbc cnbc and type in mubarak. >>> the texas governor rick perry may jump in for the gop nomination it's already a crowded field. who would he hurt if he runs? >>> first, isha sesay has a 3620 bulletin. >>> american and libyan officials met quietly in tunisia. the point of the meeting was to send a clear message that gadhafis must step down. they said it was a first step but a u.s. official said it was a one-time meeting and not the start of negotiations. >> tropical storm brett is moving away from the bahamas and out into the atlantic ocean. the national weather service says it could strength noon a hurricane by tomorrow. tropical storm warnings for parts of the bahamas were discontinued today. >>> and rapper ja rule was sentenced to prison for failing to file federal income tax for five years. they say he'll have to pay back taxes and penalties. he's already in jail in new york on a gun charge. >>> and a lot of people tuned in to watch the women's world cup soccer final. espn reported 13.5 million viewers watched as japan beat the united states on penalties. they say the match was

we're going to get a check from our friends at cnbc.er more than 100 years, the storied walter reed army hospital is closing, serving thousands of war heroes and presidents. we'll ask one veteran to look back about what this shutdown means. you name it. i've tried it. but nothing's helped me beat my back pain. then i tried this. it's salonpas. this is the relief i've been looking for. salonpas has 2 powerful pain fighting ingredients that work for up to 12 hours. and my pharmacist told me it's the only otc pain patch approved for sale using the same rigorous clinical testing that's required for prescription pain medications. proven. powerful. safe. salonpas. but when she got asthma, all i could do was worry ! specialists, lots of doctors, lots of advice... and my hands were full. i couldn't sort through it all. with unitedhealthcare, it's different. we have access to great specialists, and our pediatrician gets all the information. everyone works as a team. and i only need to talk to one person about her care. we're more than 78,000 peo

. >>> i'm brian sullivan with your cnbc market wrap. sell-off impactinç every quarter of the stock market. the dow is down 198 points, the s&p 500 off 27, the nasdaq was hit particularly hard, down 75 points. >>> concern about the debt ceiling debate taking its toll, but there's growing concern about a slowing economy. emerson electric, kind of a poster child, it filed a regulatory warning, saying it's seeing, quote, a definite weakening of general business activity in june and july. on top of that, the beige book reports slowing growth and durable goods fell in 2% in june. much of the data suggesting we are slowing down, not speeding up. the market weakness spreading. those stocks all fell even as their earnings rose. boeing and amazon, though, were one of the rare ones to buck the trend. that is it from cnbc, first in business worldwide. now back to "hardball." >>> here's a big story. president obama's approval numbers may be holding nationally, but a few battlegroundground polls may cause concern. michael feldman and jean feehery are

that is first from cnbc, first in business worldwide.you. >> thank you, hampton. >>> if a debt deal is going to work, it has to satisfy two constituencies, wall street and washington washington is worried about the details, how much of it is taxes and how much in spending, and are the poor protected? are the rich protected? if it does pass, the people who passed it survive the next election in wall street is worried and the big picture, does it cut the deficit by a sufficient amount? will it work? will washington stick to it in the coming years? will it appease the credit rating agencies like moody's and standard & poor's. so we will talk to people on both tribes. first joining me is one of the negotiators of the 1999 budget deal. james, thank you for joining me. >> glad to join you, ezra. >> is this a balanced deal? i know you have looked at the details, but does it fit the balanced criteria of the president had laid out? >> well, first of all, i think that having a balanced deal is absolutely crucial, because i don't think that we real

those are the latest headlines out of cnbc. back to you marla. >> i'm sure you've been in san francisco before. it can get pretty chilly there. >> i know. epa if it's not, it's all about perspective, keep the top open and all the heaters on, my favorite thing. >> that's always nice to keep your bottom warm. thank you, nicole. 5:17, one south bay county fighting the spread of illegally grown marijuana. the the sheriff's office is forming a marijuana eradication team. its mission is investigation and destroy illegally grown pot in the county. so far they have seized 40,000 plants with a street value of more than $60 million. >>> 5:18 right now. certainly warming up outside. christina loren with a three forecast. >> good morning to you. finally the middle of the week, a really nice day for you especially if you're someone who is wondering where is our bay area summer. we're going to get a couple hot days. they won't last long. if you like the cool weather, that on the extended forecast in just a minute. high pressure out there rea

nicole lapin, anchor of cnbc's worldwide exchange joins us with more on that story.ood morning to you, nicole. >> good morning to you, joe. >>> treasury secretary timothy geithner says he is staying on the job for the foreseeable future. geithner is downplaying reports once a deal with reached to raise the nation's debt limit. he was asked about it at an event yesterday. geithner says his family is moving back to new york so his son can finish up high school here. he'll be commuting back and forth. so he's not leaving. geithner is the only original member from president obama's economic team, by the way, and the rumor mill is already spinning, as you can imagine, as to who might replace geithner if he does leave. names that have already popped up include jp morgan chief jamie diamond. that's news out of cnbc. back to you. >> very interesting speculation. thanks very much, nicole. have a great holiday weekend. >> you guys too. >>> speaking of our holiday weekend, we want to know what kind of weather we're going to have, tom. >> so beautiful you're going to want to put

jim kramer is host of cnbc's "mad money." jim, first of all, you've got treasury bills coming due next week, tuesday, wednesday. the debt, the gdp numbers today really abysmal. what is your perspective? what the wall street saying today? >> we distill it so everybody at home gets it. there are three possibilities. there's a deal not a great deal, that is the one that produces a ratings downgrade. interest rates do go up as the congress has said. will is the possibility of a good deal, that's the $4 trillion blockbuster. all things are forgiven for the moment. we have we have to focus that the gdp is oweak. and then there's no dole. no deal requires a real leap of faith here. the first one is what we're talk about a soft default. some people will be paid, others won't be paid. if we get no deal, it is chaos. pretty much you can expect every market in the world to go down. that the just unacceptable to the american people. >> treasury was already meeting officials in new york, new york fed officials previously scheduled meeting

. >>> i'm sue herera with your cnbc market report. jones industrial average climbed 93 points. the s&p 500 up 14, and the nasdaq jumped 38. the private sector added more jobs than expected in june, while fewer than expected peep filed new jopless claims last week. those reports generating enthusiasm today ahead of tomorrow's june unemployment numbers from the labor department. >>> and retailers benefited from better weather in june. demapd was strong especially for higher end goods and analyst, predicting robust back-to-school spending as well. >>> newscorp share the down a fraction after it said it was shutting down the "news of the world" amid a hacking scandal. >>> and the drugmaker, pfizer, may sell off its animal division focusing on pharmaceuticals, jnd it's a your cnbc market update. we are first in news worldwide. >>> welcome back to "hardball." media matters. we know that. fox is at war we knew that. media matters, dispose distractions. the right wing cable channel fox is taking direct aim at media matters calling it to be st