joining me david drucker. workingf late this is a big story. i know a lot has been coming out since the president and john boehner spoke earlier w headed. what are you hearing? >> both sides, both the speaker's office and the white house were dueling in terms of the numbers and the framework and who was backing off this and pushing for that. although it may sound counterintuitive, the fact that the speaker wants to take this to the congress' level, negotiate with reid and other congressional leaders on both sides of the aisle might help this. they can figure out together where the votes are try and get something through each house and get it to the president. at this poin^ anything the president gets he will sign. i originally thought it was best to have the president in the room, because he could give the democrats cover and direct them as to where he wanted them to go. for whatever reason it doesn't appear to have worked. you might as well do the it now and not have a middleman who going to vote for what. >> that's really interesting. when you

joining me david drucker. workingf late this is a big story. i know a lot has been coming out since the president and john boehner spoke earlier w headed. what are you hearing? >> both sides, both the speaker's office and the white house were dueling in terms of the numbers and the framework and who was backing off this and pushing for that. although it may sound counterintuitive, the fact that the speaker wants to take this to the congress' level, negotiate with reid and other congressional leaders on both sides of the aisle might help this. they can figure out together where the votes are try and get something through each house and get it to the president. at this poin^ anything the president gets he will sign. i originally thought it was best to have the president in the room, because he could give the democrats cover and direct them as to where he wanted them to go. for whatever reason it doesn't appear to have worked. you might as well do the it now and not have a middleman who going to vote for what. >> that's really interesting. when you

let's bring in our panel, steve hayes, karen tum mullti, david drucker, and charles krauthammer. ou were over there all day. seems to be they'll bring this thing, if they have the votes, and seems he has the votes. what's the inside skinny? >> well, adding a balanced budget component seemed to -- balanced budget amendment added to the new version. >> correct. some of the debt limit increase would be tied passage in congress to the balanced budget amendment. only were calling it cut, cap, balance light. i think the second revised version, all of the wrangling combined, was able to get it done. now, i think everybody knows this is going nowhere in the senate. it will get over there later tonight and die. >> as people are looking at the screen, 214 is the magic number. now at 200-195. once you get to 200, it's not a done deal. sometimes lawmakers change their votes. the vote changes. but 214 is the magic number tonight. go ahead. sorry. >> that's okay. so they're going to finally get this done, which i think is important for the speaker's leadership, even though in some sense it's vi

david drucker, nina easton, and charles krauthammer. let's start with the revised boehner plan that appears to be get tea party support. it seems they're trying to dig out some more spending cuts. >> yeah. this was the problem yesterday with that. aside from the debt ceiling, what you had for fiscal year 2012, which starts in october, was spending cuts in single digits. a lot of people made some mention yesterday, well, it only cuts the deficit by a billion in the first year, but the real number you need for these guys to be able to believe in this and sell it, how much money is it going to cut immediately? because for years republicans feel as though they were hoodwinked with promised back-loaded cuts. lo and behold you get to a new congress and nobody cuts spending. >> explain the difference between the baseline, where you start this thing, you start in january or start in march. >> this is what makes it confusing. they were doing two different baselines yesterday. one started in january. in other words, how much are we spending begi

david drucker is a staff writer for roll call and joins us now. david, good morning. >> good morning, jamie. >> jamie: what do you expect this week? >> we'll see a few votes on some bills that republicans would like to see passed, to deal with the debt crisis and i think those bills will obviously go nowhere because i don't think the democratic senate will send them to the president and if they did, i'm not sure he'd sign them and i think once we have votes that fail, it might put us on track to try something that could work, even though, right now, republicans and even a lot of democrats are skeptical about some of the plan bs, that have been talked about. namely, the mcconnell plan, which would put this onus for a debt increase on the president. right now, senator mcconnell and majority leader reid are working on a compromise to the mcconnell plan to include, i think a trillion to a trillion-and-a-half of spending cuts meant to entice house republicans to ultimately vote for the plan b, or as i call it a break-glass plan. >> jamie: cut, cap and b

. >> david drucker, thank you for that update. >> next, we'll hear from president obama as well as houseepublicans and democrats concerning the debt and deficit reduction talks. next, president obama talks about the ongoing negotiations between his administration and congressional leaders over ways to reduce the federal deficit. he said an agreement must be reached to keep the u.s. from defaulting on its loan obligations and it should include revenue increases as well as spending cuts. treasury secretary tim geithner has said the federal government has until august 2 to raise the debt ceiling to avoid a government default. this is 40 minutes. >> hello, everybody. as you know, yesterday we had another meeting with congressional leaders. we are not having won today, so i thought it would be useful to give you an update on where we are. although congressional leaders have reiterated the desire to make sure that the united states does not default on our obligations and that the full faith and credit of the united states is preserved. that is a good thing picric we should not even be this clo