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steve centanni live in washington.syn: fresh concerns over the new bill to raise the debt limit and the possibility of substantial cuts to the military budget. some 350 billion dollars will be slashed from the national security budget over the next 10 years. another $500 billion if congress is unable to reach a bigger debt deal before christmas. an estimated total of $700 billion in defense cuts over the next 10 years. but exactly where will those cuts be? that many still not clear. and that uncertainty is raising serious questions that our nation's security could be put in jeopardy. joining us is major general james spider mark. thanks for being here. let's go through the possibilities. if the so-called super committee cannot agree, then this trigger mechanism comes into play and 50% of the cuts go to the defense budget. do we have any idea what would be cut? >> i will tell you the first thing that will be cut taint's unfortunate is the personnel end strength. everybody looks at programs, aircraft carriers, large form

. >> steve centanni, thanks for that report. >> americans now considered a riskier investment than canadamore than a dozen countries have the rating including france, germany and great britain. america joins new zealand and belgium just a notch above spain. china and japan at aa-. >> billionaire warren buffet is speaking out saying the downgrade doesn't make sense. he says he's not worried about the american economy at all. if there were quadruple a rating he would give the u.s. that. buffet's company berkshire hathaway has 40 billion dollars in short treasury bills he has no plans to sell. he doesn't expect the downgrade to have much effect on the markets monday. >> how will this downgrade affect the already volatile market when it reopens monday. lauren, good to see you, what do you expect? >> all i have to say is pack your dramamine if you are an investor monday. it is going to be another wild ride. the past two weeks have been volatile. we've been up and down and in between. here's the thing, standard & poor's did this downgrade friday evening. it was smart of them. now investors have

steve centanni is live in washington. i know you are monitoring what they are saying this morning.nger-pointing, right? >> reporter: absolutely. one party blaming the other. a member of standard & poor's appeared and said no one party is to blame. >> this is really not about either political party. it is about the difficulty of all sides in finding a consensus around fiscal policy choices now and in the future. >> reporter: beers said congress and the white house are jointly responsible for our fiscal policy. >> jamie: i'm sure nobody in washington wants to deal with this. but it affects everybody the reputation and future not only of the president and the administration, but everybody in congress. how are they reacting this morning? defensive or optimistic that this is the right move for our future? >> reporter: as always, you have division on that. house budget committee chairman paul ryan agrees with beers, no one party is to blame. but says it is likely everyone will suffer as a result. >> i'm not very surprised at this downgrade. we more or less saw this coming, because we are

steve centanni live in washington with the latest. >> the president hasn't made any statements yet about this. but his press secretary, jay carney, has, by putting out a paper statement on the president's behalf and without making any direct reference to that s & p action downgrading our credit rating, carney talked about the president's intentions. he said, quote, over the coming weeks, the president will strongly encourage the bipartisan fiscal committee, as well as all members of congress to put our common commitments to a stronger recovery and sounder long-term fiscal path above our ideological differences differes we must do better our intentions to work together. >> thanks very much. >> arthel: we got it. here is -- concerns over what this downgrade means for them. will americans now start seeing interest rates rising on everything from credit cards to car loans? elizabeth mcdonald from the "fox business" network to break it all down. you guys have been really busy over there. let's start here. first of all, how big is this? we don't want to downplay the gravity of this, but we don

. >> heather: steve centanni is live in washington. steve, how is the white house reacting?, heather, the white house press secretary jay carney put out a statement that did not specifically mention the downgrade, but talked about the circumstances that led to the downgrade. he said in a statement, i'll quote part of it, the bipartisan compromise, that compromise on deficit reduction was important step in the right direction, yet the path to getting there took too long and was at times too divisive. we must do better to make clear our nation's will of capacity and commitment to work together to tackle our major fiscal and economic challenges. so that's the reaction from the white house. the president himself has had no statement so far. >> heather: there is a flood of reaction, to say the least, from capitol hill. what are we hearing so far? >> from republicans, no shortage of criticism for the president and his administration, as you can imagine. senator jim demint is calling for the resignation of treasury secretary timothy geithner and the house speaker, john boehner put

steve centanni with the latest. >> reporter: it may come as no surprise, each party blaming the otherowngrade of our credit rating. the man behind that downgrade david beers of standard & poor's appeared on fox news sunday and said in single party should take all the blame. >> congress and the administration are jointly responsible for the conduct of fiscal policy. this is really not about either political party. it is about the difficulty of all sides in finding a consensus around fiscal policy choices. now and in the future. >> reporter: beers says a further downgrade is possible because the u.s. government debt burden will likely continue for years to come. not everyone agrees that no political party is to blame. there's a heated debate on capitol hill whether tea party republicans are responsible. >> i believe, this is, without question, the tea party downgrade. because a minority of people in the house of representatives countered even the will of many republicans in the united states senate. who were prepared to do a bigger deal. >> if they listen to the tea party we would have

steve centanni is live countdown clock. hi, steve. >> reporter: hi, shannon. it is unclear what damage has been done. the scope of the hack something very wide spread affecting 14 countries and the potential damage is immense. here is a partial list of the victims of operation shady rat. associated press was hit. united nations. international olympic committee. u.s. government agencies including the department of energy, u.s. state and county governments and u.s. defense contractors, about seven of them. mcafee says of the 72 total agencies and companies hit, the vast majority, 49, are in the u.s. while mcafee doesn't say this is the work of china, computer experts looking at type of hacking done and material being targeted say this is very likely the work of china. homeland security chief janet napolitano was asked about the report today. >> we became aware of the mcafee report today, which is when it was released to the press as well. we obviously will evaluate it, look at it, and pursue what needs to be pursued in terms of its contents. >> reporter: the rep

steve centanni also watching it for us from washington, steve. >> reporter: of course you know virginia tech was the scene of one of the worst shooting in american history, so they are proceeding with an abundance of caution here. only these three teenagers, or children saw a man holding what looked like a gun and they have locked down the campus. they don't want to take any chances. as you know in april of 07 there was this shooting when a senior english stunt opened fire in two separate incidents, one at a dorm and killed two people. two hours later he opened fire against in a classroom building and killed 31 other people. in the interim there was an email alert that went out to the students warning them of this situation but there has been criticism that that alert, that warning system, the warning dew point go out quickly enough. the university came under extreme criticism for lack of warning of the students. do we need to listen to this? >> for the record i'm larry hinker i'm the associate vice president. and i have with me the chief of police. wendell took a phone call as we walke

steve centanni's live on it in washington. hi, steve. >> reporter: hi, shannon. yeah, in fact, u.s. officials saying this is the third largest food recall in history. 36 million pounds of fresh and frozen ground turkey in the wake of a sol no knell la outbreak that's killed one person and made dozens more sick. take a look for this mark, the tainted meat all has the same code number, estp963. it was all processed between february 20th of this year and august 2nd, right up until just a few days ago. the outbreak has hit 26 states so far, michigan and ohio have the highest number of cases with ten each. but the lone fatality has occurred in california. experts say this kind of quote break can spread quickly. >> when we see a lot of animals whether they're birds or cows, um, being ground into meat and parceled out, we're more likely to see one illness or one pathogen spread out amongst lots of packages for consumers. >> reporter: the minnesota-based cargill corporation along with the agriculture department recalling the meat now. it's suspected the turkey came from cargill's plant in s

steve centanni is live. >> reporter: a briefing underway, we expect jay carney to be asked about the situation with the stock market, the crisis in europe, the vote of no confidence that rand paul wants to take in the senate, about timothy geithner and whether or not he still has confidence in him, whether he should stay on as treasury secretary. as you know rand paul is want ago no confidence vote in the senate, which would not be binding by the way but would express the opinion of the senate if they approve it, that secretary geithner should step down. this is what rand paul has been saying since the weekend that he wants him to step down. he said in a press release dated today the stock market gave a vote of no confidence on timothy geithner and went onto say we can read his words here geithner has shown no accu men in predicting, diagnosing or treating america's economic woes. the time has come for him to resign. rand paul not the only one pushing for the resignation. jim demint, michelle bachmann and many others who never voted for his con fi confirmation in the first place also

steve centanni has been monitoring the chatter. joins us with more on the blame game. >> reporter: lots of chatter. democrats and republicans blaming each other. david beers of standard & poor's says it is neither party. it is the financial and political landscape. he says it is a question of the worldwide economy too. >> a lot of what is worrying the markets is the unfolding story in europe. also, a perception a global perspective that the world economy may be slowing. i think the markets are reacting to a lot of factors not just what s&p said friday. >> reporter: beers suggest another downgrade is not out of the question. he predicts the debt burden of the u.s. government will continue rising for some years to come. for the political finger-pointing it 10 to be harsh with senator kerry laying the blame squarely on the tea party. >> there were some people in the republican party being, and mitch mcconnell admitted this, who wanted to default. he said there were people in his party who were willing to shoot the hostage. in the end

jon: steve centanni, live in washington. scary stuff there. jenna: turning to 2012 and the politics there colorado has backed every presidential winner for the last ten years. barack obama carried the state on his way to winning the white house in 2008. how do the folks real about reee hrebting him? we are going to go in-depth just ahead. >> we cannot turn back. america, we cannot turn back, not with so much work to be done, not with so many children to educate, and so many veterans to care for, not with an economy to fix and cities to rebuild, and farms to save. jon: i was there that night. that was when candidate obama at the time was speaking at the democratic national convention in 2008, a convention held in colorado. that state has been playing a pivotal role in the last ten years. colorado going for the winners since 2000 when voters there supported president bush. they did it again in 2004, but then switched to democratic when president obama won in 2008. the fact that the convention was held in denver that year might have had something

steve centanni is following this developing story from our washington bureau. what do we know?> reporter: hi, megyn. just got off the with the prosecutor, they are holding a man, he'll probably be in jail until next weekend at the early iest. 35-year-old robin gardner disappeared last week. she's from frederick, maryland. she was last seen on tuesday, august 2nd, described as 5-5, 120 pounds, blond hair, brown eyes and tattoos on her body. a missing person alert was put out by the natalee holloway resource center. of course, gardner disappeared from the same island as natalee holloway. gardner was saying at the renaissance aruba resort and casino. holloway, of course, the young alabama woman who went to aruba on a high school graduation trip in 2005. she went missing, and her body's not been found. she was last seen leaving a bar with joran van der sloot, he's being held on a murder charge in peru. in this latest case, the boyfriend of the missing woman, gardner, told fox 5 in washington he didn't know gardner was with this other man, and he had this to say. let's listen. >> sh

steve centanni is in washington, d.c. with the details. good morning, steve. >> good morning.ts the road in the midwest early next week, monday, tuesday, and wednesday, on a bus trip through three states. now, the white house says the idea is to talk to americans about the economy and find ways to improve the economy and create jobs. here is white house press secretary jay carney about the trip last week. >> he will continue to make the case that we need to take the measures necessary as a country, working together with congress, that will spur greater economic growth and create more jobs. >> now, that was before we knew exactly where the president was going to be going and today we know. the first stop will be in minnesota, southern minnesota next monday. then on to piasta, iowa, where he will hold a rural economic forum at a community college there. the white house says it will bring government officials and small business owners to talk about ways to accelerate hiring. the last stop will be in western illinois. the white house says the bus tour gives the president the chanc