. >> dave: neil cavuto is next from capitol hill. >> a fox news channel special presentation. budget fraud. taking it to the limit. now, live from our nation's capitol, neil cavuto. >> here we go again, does this sound like deja vu all over? we're in lockdown with a measure in the the house that was onerously and barry sande sandersly passed and slapped down in the senate and a back and forth with the details, suffice it to say with little more than what, 72 hours to go, we still do not have an agreement and there in lies the rub. for the next two hours, there in lies our continuing special coverage from the nation's capitol and we've got the best and brightest, to sort of articulate where things stand and where we could go in the hours ahead. of course, you know that fellow on the left there, he's been fighting heavy pressure from both sides and ended up being his own man in this debate and cost him probably a little sleep. we've got governor scott walker, we've got barney frank, antsy about what the moody's folks are doing and how he wants to channel what mooddy's says we ha

joining me, neil cavuto, anchor of your world. have been on the hill and talking to a great many people there, congressmen and senators and so forth. what is your take on this potential deal? >> neil: well, i think there are two different audiences here. leaving aside the one that cobbles together democrats and republicans that com come toger on something approaching what we heard of these $3 trillion in savings over the next ten years. you do have another audience to win over and that is the investment rating agencies, the credit rating agencies like moody's and s&p and fitch. these agencies have already gone on record saying we need $4 trillion in cuts and that is a floor and this looks like for all intents and purposes more like $3 trillion. the devil is in the details and whether some of the cuts are upfront or longer term but that is not going to cut it with ratings agencies that have already put themselves out on the ledge here and said we said $4 trillion. then the attention changes to them. will they accept that. will they

can count on "your world," with neil cavuto and today we have stuart varney sitting in for neil cavuto right now. >>stuart: stocks up 200 points on word a new debt plan is in the mix. welcome, everyone, i am here for neil cavuto in "your world," not one, two, but throw plans to raise the debt ceiling on making their way through congress but only one is getting the president's praise. and it is not the one that balances the budget. a house vote on that is hours away. and it is not the backup plan, either. yet work is underway on that but another plan released by the gang of six, that would slash the deficit by adding new taxes and reducing others. the guy would bothed new life into the plan, oklahoma senator coburn. senator, let me ask you about the tax element. i am told you would reduce income tax rates. >>guest: that is accurate. >>stuart: to three brackets and corporate tax rates. >>guest: that is correct. >>stuart: that will make it attractive conservatives. what other tax angles? >>guest: this is no question the alternative minimum tax will be permanently eliminated. that is anoth

with us now the anchor of "your world," neil cavuto. confluence adding to the pain of this debt crisis. >> i think you are right, harris. the market downdraft has as much if not more to do i think actually a lot more to do with what's happening in the economy or not happening. we got that g.d.p. report which was a bad report card on the growth in our economy in the latest quarter. it was expected to be up almost 2% it was up 1.3%. further, harris, the prior quarter was revised to barely any growth at all. combine that with merck today announcing it's going to lay off 13,000 folks. in fact, this week alone better than 25,000 layoffs announced by corporate america. and some companies, big companies like juniper networks and a host of others saying we don't see the demand for our product like we used to. i don't want to get sidelined, suffice it to say a lot of this downdraft has concerns about double dip or the economy dropping back into something pretty bad. what worries me, harris, too, with the markets is if washington insiders powngs

neil cavuto. >> neil: from ticked off to off the hook with one week to go. good luck getting through to your congressmen. phonelines jamming up. which side is getting that wakeup call? welcome, i'm neil cavuto. talk about your hang ups. phone lines at the capital today overloading as americans try to reach their lawmakers after the president urged people to phone in. due to the high volume of calls house telephone circuits are near capacity resulting in outside callers occasionally getting busy signals. we try it all day. with seven days to go and two plans in the works, what are those callers saying? to our congressional correspondent mike emanuel. a lot of folks trying to get through, what is happening? >> reporter: i talked to some officials about the volume of calls. they say on a typical call congress gets 20,000 or so. right now they are on target for 35,000. they say at the peak of the health care debate they were averaging 50,000 plus a day. i stopped by senator alexander's office and the young lady there was polite and they were doing their best to

now from capitol hill, fox senior vice-president of business news and the anchor of your world, neil cavuto. neil, always good to see you. >> thank you. >> kelly: even on this when things are so precarious. i was watching you earlier today and former senator alan simpson who served on the president's budget commitment along with erskine bowles told you earlier today, and i'm quoting here, the agencies are looking at united states congress are on a mountain and about to give birth to a mouse. in the end, it's the little guy will be hurt if the downgrade takes place. is it the little guy that gets hurt? >> yes, i do notice when we look for signals coming up here, you played some bites, among them the president earlier, who has now changed his talk away from the risk of default to the risk of a credit downgrading because i don't think we're going to be looking at a default. a default would be a nonpayment on a bond holder, some of these extended through social security and medicare beneficiary. i don't see that happening and the president was among the early sort of warners, if you will, sayin

now, neil cavuto. >> neil: this hot, steamy saturday for much of the country it's all on the line. the government days away from running out of money and a country's top-notch credit rating maybe, inbound ma running out of time and the president of the united states scrambling to cobble together something, anything with the very speaker of the house that walked out on him yesterday. preparing to leave for this oval office meeting to ward off what could be a huge selloff on the markets on monday. because suddenly a deal that many took as a given isn't. there is so much going on. and if you think it's hot outside now, well, get ready, it's about to get positively volcanic and for the next two hours, we're all over it with presidential candidate ron paul who says, get this, a default would be the best thing that could happen to us. his republican rival, herman cain who faults the president for creating this. art laffer, one way to fix this mess and one of gang of six senators you've heard about, a way out to settle this mess. first the very latest this saturday morning. treasury secre

i am stuart varney here for neil cavuto. and day one of a hearing by the national labor relations board wrapping up as we speak. the board wants to speed up union elections from the current 38 day average to ten day average. former verizon wireless chief says it eliminates rights to fight off unions because the current board is "pro union." would you spell it out. if you speed up an election, 38 days down to ten days how does that kill jobs? >>guest: the way the process works is this: unions must get 30 percent of the group to be represented by the union to sign authorization cards. it takes months and months to do that. once the 30 percent of the workforce has signed the cards, they file with the nlrb for an election. the nlrb calls an election and supervises that election. today, it is usually 30 days for 40 days for the election to take place. what they would like to do is change that to ten days. all the months that it took to build interest and then to give companies only ten days to state their side of the case? it sla

neil cavuto will have that coming. again see you tonight for the fox report. right now time for cavute. >> neil: up against a deadline that is looking dicey, a default that is not. fox on top of a disaster that might not be on tap. house speaker minutes away. saying financial armageddon is not about to go down. welcome i'm neil cavuto. hard to predict what he's going to say. let's say the markets are not too worried. stocks down far from meing down as we are eight days away from where the president insists the country could be defaulting. what do you make of the default or not? >> i could tell you that the fox news network has been reporting all morning that white house officials are telling the banks, privately, forget publicly, even if the debt cap isn't raised, they are not going to default. they are going to pay the debt out of what they have, which is two trillion of tax revenues, 200 billion dollars of debt interest payments they have to make. they are going to prioritize and they are going to prevent fiscal disaster. >> neil: different from what they are

. >> welcome back everybody, neil cavuto at the united states capitol where we're waiting to see what happens the next couple of days. you know, there's actually a side debate here, it's not such a side debate or arcane one over when the actual deadline is. august 2nd, but when august 2nd? the very beginning of august 2nd, 12:01 a.m.? or the end of august 2nd, 11: 11:59. they're asking whether that ceases to hit the limit is hit roughly 24 hours we're talking about here, could be a crucial debate and there's also the notion that the whole august 2nd thing itself is fiction that the government technically has enough money to go at least another week, maybe two, the tax revenues have been stronger than expected. and then a separate argument that says even if the event that it is august 2nd, ostensibly we're robbing peter po pay paul and 172 billion dollars a month and go on for months if not years, the immediate bills to ward off default, but choking off 35 to 40% of funding for a variety of other programs, nobody wants to opt for that strategy. there in is where the debate lies. at the

well neil cavuto, senior vice president, anchor and editor of fox news channel and fox business network. neil, great to see you. >> hey, alisyn. alisyn: what happens on august 3rd if no debt deal is reached on august 2nd? >> we don't necessarily default. we are hearing and getting wind what happened today at the new york fed when officials were meeting with so-called government primary dealers. there are about 20 of them alisyn. without sounding arcane and getting too much into gobbledygook. these are folks responsible for trading treasury securities, marking them up, getting them out in the market so chinese, japanese, canadians, germans can buy this stuff. they are the responsible are the go-between if you will for selling our treasury debt to anyone who wants it. that is the big question whether they will be able to do that. we're told at this meeting they explained the mechanics what would happen in the event of a shutdown. we are also told that they have been assured that there will not be a shutdown or that bondholders will not be honored, probably news of relief to them because t

neil cavuto is here. the democratic congressman who says the president will have to push for a clean debt ceiling vote in the house if we see no deal. does that have a chance? martha: those are a few of the stories. we have a lot of angles on this story of we want to cover for you in america's newsroom. but there are many stories we are covering outside of this. there are other things we want you to know about. where is presiden -- where is pt obama on this issue? a huge story from peggy noonan we'll get to. juan williams will weigh in on how he thinks the president is handling this. bill: are you a hobbit or a troll? republicans caught up in a nasty name-calling game 15-minute with john mccain has that has tea partyers like sharron angle all fired up. martha: it's also shark week. we'll take to you a hot spot for great white sharks, folks. >> i have done this before. [ mom ] one of the challenges for kayla being gluten-free is actually finding choices the whole family will love. five flavors of chex are

neil cavuto, finally back. >>neil: what is it with cliffs. nothing changes. over the cliff. and, now, over-the-top. welcome, everyone, i thank my colleague and friends for doing such great work when i was out the last couple of weeks. it amazes me despite the news i missed what i does not miss, two things, the fearmongerring and the driving us off the cliff thing n this add from the service workers union and liberal group called americans united for change, no change, republicans are recklessly risking default and driving the economy off the cliff. off the chart. what is it with the liberals and cliffs? remember the guy look, like paul ryan, pushing the granny looking a lot like the lake harvey korman off the cliff with medicare cuts over-the-top. i have been out a couple of weeks but it seems that many liberals are out to lunch refusing to see the policies as they are the ones driving this country off the cliff. now, it is not adjusting government spending that is pushing us over the edge, it is refusing to address that spending. we are all going over the cliff because we a

welcome, everybody, i am neil cavuto and it looks, looks, looks like washington was listening to me when i listed my "let's be clear list." we will not default if the debt ceiling is not raised. point two republicans are not the ones would risk not paying the bondholders. only the president has the power to pay or not to pay. >>neil: democratic lawmakers are now saying there is wiggle room and august 2nd suddenly is not a drop dead date if it looks like a deal is in the works. and maybe one is. guess what? even if it isn't we can still pay. the white house will outline how the treasury plans to prioritize payments. that briefing is expected after the market closes tomorrow. and no one is surprised. my guest says that is what will happen they will diet back. >>guest: if recent weeks the administration has put congress on notice that will happen, president obama used the word "armageddon," a lot of fear and fear from both sides of the aisle but now they are saying, wait, there is wiggle room. it does not have to be done by august 2nd. so, i expect they are not going to get a deal by august

ahead of that host of your world, neil cavuto, is live on capitol hill with his observations about what's happening down there in d.c., neil. first of all, let's start off with the economy though. what is the latest news telling us about the state of our economy today? >> reporter: well, jenna, i'm glad you led with that right away. that is the big news here, and for the markets the far bigger worry. you know, a lot of people say the market is what's going on in washington. that is only partly true. the markets have been hiccupping to to the degree they have been precisely because the economy appears to be slowing down markedly. this 1.3%gdp increase as you talked about, as you also indicated the .4 of a prosecutor revised rate was darn close to a recessionary level. and now on the heels of merck announcing t going to lay off 13,000 people, we've had better than 25,000 layoffs announced just this week and more than a few companies, once very strong names like research in motion, juniper networks indicating they don't see demand for their products what they once were could be signaling thi

the stakes are high and neil cavuto will have it in the next huron "your world."

and neil cavuto will, back tomorrow. and the president is expected to meet with house of representatives g.o.p. leaders and declaring their train dead on arrival writing off, cut, cap and balance despite the win last night. and the other "gang of six" train will not make the august 2nd deadline so it is full steam ahead for the mcconnell reid land. that is not making the cut with illinois republican congressman joe walsh who is circulating a letter today urging house leaders to reject bringing the mcconnell propose you will for a vote. congressman, so, no way, no how, mcconnell is your position, sir? >>guest: absolutely. this is not a plan, it says, okay, mr. president, go ahead and raise your debt ceiling and we disapprove of it. i understand how frustrated he is. we all are. because we are dealing with the president who doesn't get it but it is incumbent upon us to lead and that is what we did, stuart, last night, when we passed the only plan right now that will allow the debt ceiling to be raised and structurally refo

. >> and neil cavuto coming up at 4:00. >>> that is the national debt. it keeps rising. so the politicians are fighting about raising the debt limit. do you know what that is? do you understand the fight? lots of people don't. >> so you see the national debt clock over there? >> know what the national debt is. is. >> 121. >> that is how much it is but do you know what it is? >> the debt ceiling crisis? no. >> what is the next step in the debt battle. >> if people don't know, the bat st. louis all over television. people know the president. but do they know his opponent? if you are spending more money than you are taking in you need to spend less of it. >> who is this buy? >> guys. >> looks like a politician to me. >> do you know who that is? >> yes, of course, the governor of my state. >> the gay actor on 30 rock. >> john boehner. >> right. but lots of people didn't know him. >> i don't know who that is. >> or anything about the debt problem. >> what is the debt limit? what are the politicians fighting about? >> i don't know what they are fighting about. >> okay. well, t

"your world," is next and neil cavuto is in washington, dc, with the latest on the debt fight. you know it will be an interesting hour. see you next week. >>neil: from the capitol, welcome, everyone. the talk is, do we have enough capital? tuesday we hit up against our limit and we are not close to our deal. we are monitoring how it is reverberating in our capitol and in the financial capital, in new york, with the face of a potential serious financial duress of the country with stocks down north of 60 points for the dow jones industrial average and aless of better than 500 points on the week and that could seem like a big hit, but close to 97 points today, but obviously celebrated by day's end but with the losses here, we are battling reaction to not only no progress on talks in washington, but not much good news on the economy, in general, with more indications of that from a hot -- host of companies including merck laying off 13,000. and at 6:00 p.m. eastern, we are waiting for two hours when the house of representatives will take up the boehner measure. that is the measure t

both sides appear to be guilty to border invective dz but my colleague, neil cavuto said that the terms of his remarks last night seemed to veer in personal attacks that could be more destructive than constructive? >> i think he does have a good point there. at the white house briefing last night. boehner bolted the talks and both sides are blaming each other. the thing is, the parties haggle and then they get a deal. but this debate is so unusual and certainly no certainty they are going to get a deal even if they do, i think it will be difficult to get 218 votes in the house and 60 in the senate. remember this could be filibustered with a deadline to get a deal was actually on friday. >> gregg: unless they avoid the filibuster through reconciliation which andrews, a democrat who has been talking about. look, more to your point. the knock on president obama he has not bothered to make any relationships in washington. is that a weakness or a defect in his presidency that now manifests itself in this crisis? >> i think that is a yee point. president obama vowed to change washington. he h

believe the markets are watching what is happening now and a standard and poors analyst spoke to neil cavuto on fox yesterday who said that the real concern is the trajectory of the u.s. debt and that the debt ceiling could actually be raised and the u.s. could still be downgraded. so, john boehner wants to show the markets that there is a deal in the works with plenty of time to be passed before the august 2nd deadline. >> jamie: let's talk about strategy and politics. both sides have differing views about what they want in terms of tax rev view and spending cuts. how do they come to the table and make a deal that basically gives the base what they want and also makes the american people satisfied that we're not going to default and we're not going to revisit this months for a year from now. >> you can gets the first of those but not the second. they can avoid default with a shorter-term deal. but, probably not with a longer-term deal. and even before the blow-up on friday, the house republicans were at work on a two-part plan which they'll turn into an actual bill by today, plan to boast o

i believe we have a sound bite from his appearance on neil cavuto yesterday. let's listen and have you comment afterwards: >> big question why the prosecution could not answer, how did caylee die and that was a big factor in a lot of our decisions. it also showed that something with george anthony, casey's father, he was definitely hiding something. >> one thing that the prosecution failed to do was they did not show motive. what would have driven a reasonably good mother to do such an action, and they could not -- i don't think they ever overcame that. alisyn: judge alex, they did not show motive? what about all of those photos that we saw over and over again of her partying and drinking and living, you know, la bella vita? >> here's the problem. the problem is the prosecution usually can't show motive. the only way to show motive is if a defendant admits what motivated them or it's so, so clear from the evidence. you can't crawl into a defendant's mind and the prosecution, because of the fifth amendment, can't call the defendant to the stand and say you know

>> we have neil cavuto kicking it off in studio and jennifer griffin will be talking about what's happeningon with a trillion dollars worth of cuts and gretchen carlson will be here, she seems really nice and smells good, according to steve. >> ok. on that note, let's talk about somebody else who i think smells good as well, at least according to this pastor. a tennessee pastor was doing the invocation or the prayer at a nascar race recently and he's going along and it sounds kind of normal and then all of a sudden, he calls out his wife. listen to this. >> i want to thank you for my smoking hot wife tonight, lisa. my two children, eli and emma. we like to call them the little e's. lord, i pray to bless the drivers from tonight, may they put on a performance worthy of this great track. in jesus name, boogety, boogety, amen. >> didn't want to do a cookie cutter kind of prayer. >> let's face it. how many times are you listening to a long prayer and you start kind of nodding off a little in church? come organization let's be honest but it's the preacher, man or woman actually said smoking hot

neil cavuto joins us to break it down. good morning from the capitol hill.t we are not really joking, we had many congressmen on and much says despite this back and forth something will happen in the 11th hour, the last little possible second and there will be a deal struck. it seems so unlikely. what do you thing? >>guest: i don't think they will be able to get to the deal. the hours and the logistics and the clock itself running against them. the senate has a number of arcane rules including 3 hours for debate on a given issue so it would be pushed to the end. it does not mean that we go into default because on august 2nd if we have no deal and the government is looking at a partial shut down, that doesn't mean that taxes step coming out of our paycheck. we are still going to pay taxes. and the government is still going to get $172 billion in the month of august. the problem is and this is the gist of why we are at this crisis point, we spend better than $306 billion a month. i liken it to if you facing a financial hardship at home, a spouse loses his or h

cavuto on business up next. in the race for a debt deal are we days away from the real deal? hi, everyone, i'm charles payne, neil will be back next week. cut, cap and balance, the house days away from a vote will match a 2.4 trillion dollar limit hike with dollar per dollar spending cuts. is this what americans need even if democrats stay it's dead on arrival. to ben stein, dagen mcdowell, charlie gasperino, daying, this gets to the idea of of serious spending cuts? >> it does, but you need-- the devil's in the detail, charles. and we will he be getting more details on the plan, and plans in the coming days, but if you want to have a really serious debt reduction plan, you're going to have to tackle medicare and social security and medicaid and that's just the fact of the matter. and they are trying to-- one thing that's really important in this, they're trying to cap spending as a percentage of our economy, when it got to 25% of gross domestic product under president obama. this tries to take it down in about seven years, below that mark, back to where we've been since world war ii, that's a huge step in the ri