and the british empire, who had a national debt that exceeded their gdp the. eric national debt already exceeds gdp --our national d ebt. if you watch the little ticker, you can see that. the only thing that gives us pause as to how much money we are spending is that [indiscernible] our rising. the debt limit causes us to stop and talk and be able to realize just what a quagmire we are putting ourselves in. the government has got to stop exceeding its ability to spend money. there are not enough wealthy people in the universe to pay off the national debt. the only way to start pivoting back is to grow the gdp. that way to do that is by what was done under donald trump when he had taxes lowered and corporations, jobs expanded and more money went back into the national treasury than in the history of the country. i wanted to point that out. guest: i think that was an excellent question. there are a few important things. i note two examples where we have had in the history of the nation a country with over 100% debt to gdp and paid it off. the first was the u.s. a

. bringing to over 10 trillion dollars. president brock obama then doubled it again, raising the national debt to nearly 20 trillion dollars. now, in order to fully understand how the national that impacts the country, we have to look at where it stands compared to our gross domestic product. now last year, spending in response to the pandemic brought the debt to g d p ratio to 105 percent marking its highest points in world war 2. but if we go back to the 1990 s, we'll find that the ratio stood under 50 percent even dropping down to 30 percent under the clinton administration. the debt to g d p ratio was up to nearly 45 percent. by the time george w bush left office, and by the time obama left off, as it had skyrocketed nearly 75 percent as the continued increase in defense spending combined with the government's response to the great recession. so who owns all of this debt? the 2 largest and these are actually right here in the united states, the social security trust fund and the federal reserve that's public. that's the debt of the people. now beyond that, china and japan both own more tha

. >> a conversation now on the national debt in u.s. economy with christopher russo, research fellow at george mason university proves that working at the federal reserve in new york and chicago, the house acted yesterday to raise the debt ceiling ahead of potential defaultnt, why do we have a debt ceiling in the first place and why do we keep creeping toward potential default clips? >> thank you for having me on. the debt limit began recently in our country's history, created in 1917 as a way for that u.s. treasury to more ably fund the war up until then, congress usually authorized each individual issue in the treasury debt and issued it for specific purposes. issuing debt for the panama canal but with world war i massive increase in government spending, it no longer became a reasonable thing to do so the debt limit on the one hand gave treasury more ability to better manage the treasury cash and debt on the other hand constrained treasury to make sure they were issuing too much debt relative to the muscle spending congress authorized

starting with lowering the amount of silver. our national debt already exceeds by quite a bit. it's growing at a rate of between one to $2 million a minute. the only thing that gives us laws as to how much money we'ree spending is the debate on raising the debt limit that causes us to stop and talk and be able to realize just what a quagmire we are putting ourselves in. the only way to start hitting back at this national debt is to grow the gdp and to do what was done under donald trump. that is an excellent question. there's a few important things first let me say that as a student of economic history i have two examples where we've had a country with over 100% of debt to gdp. first was the united states following world war ii. that was a period in which we had tremendous structural reforms as well as a policy for the first decade after world war ii and which they were doing monetary policies to help them finance the debt not to react to changes in employment or inflation. so god willing we wouldn't have a repeat of the 1940s in which we had ten

, signs it could finally be easing here after republicans suggested a short-term increase on the national debt ceiling. that's what mitch mcconnell made clear earlier in the day, saying yes, indeed, he is willing to raise the national debt ceiling, at least allow a vote to allow the national debt ceiling until december, giving congress a couple more months to hash things out. now, he wants the democrats to use a budget process on capitol hill that would force them to essentially carry this vote ultimately on their own to deal with the national debt ceiling on a long-term basis. democrats say they will not go that route, that budget procedure because it opens them up to a lot of negative, very difficult politically charged votes. as a result, it is uncertain how the long-term issue could be resolved. the short-term issue does seem to be abated, at least for now. there is an october 18th deadline to raise the national debt limit or they risk the country's first-ever debt default. with this short term deal assuming it gets approved by the senate, by the house, there's no lan la hang-ups the next

the debt ceiling crisis. our national debt is roughly $29 million, and yet democrats want to add trillions more to that. how many trillions? we don't know. they are battling within their conference just how many trillions more to saddle this country, but it's going to be a lot. but you know the curious thing? this crisis is 100% manufactured by democrats. why is that? because for the entirety of this congress, democrats have had complete 100% power to raise the debt ceiling any time they want. how is that? well, ordinarily in this body, the way legislation moves, it needs 60 votes to move. it's called the legislative filibuster. but there is an exception to that. it's a big exception. it's called budget reconciliation. it comes from the budget act of 1974. under budget reconciliation, you only need 50 votes, not 60 votes. it's the biggest exception that exists to the filibuster rule. democrats unfortunately have 50 votes in this body. they have a majority in the house. and they have the white house. that means democrats u

then under president barack obama, the national debt jumped from $11 trillion to $20 trillion. and in the one term of president donald trump, the national debt grew from $20 trillion to nearly $28 trillion. no wonder then, that the "wall street journal" said, democrats may be angry but as the days go by they may recognize that mr. manchin is doing them a favor. with president biden abdicating to the left, the west virginian is providing a reality check on progressive excess. bernie didn't win the election. biden did. and a large part of his appeal was that he was the most moderate voice on the democratic stage. the power held by manchin and sinema reminds me of something called the fulcrum project. board member neil simon himself a former senate candidate has often said the power in the senate could be wielded by a handful of independent thinkers. imagine, for example, if manchin and sinema were to join forces with, say, senator lisa murkowski and another republican or two. if such a group were to deny both parties a majority and commit to sticking together, they could dictate w

and democrats, in a bit of a staring contest as we're approaching the first ever default on the national debt, something that could have tragic and devastating economic consequences. what the democrat leadership is saying very clearly is they believe the republicans tomorrow during a key procedural vote should move to allow that vote to come forward to a final vote, to suspend the national debt ceiling for two years. republicans say they will not do that. they say instead democrats should use a different process called the budget reconciliation, the process in which they could actually avoid a senate filibuster, meaning they could improve an increase to the national debt ceiling on a straight party line vote but that process is cumbersome. takes a couple weeks. it could also open up democrats to a lot of politically charged amendment votes on the senate floor, which they are eager to avoid. nevertheless, there are key voices, including senator joe manchin who told me that democrats should reconsider what they're talking about and potentially move down that budget reconciliation process in ord

. >> a conversation now in the national debt u.s. economy with crystal, research fellow at george mason university and previously worked in the federal reserve bank and ines new york d chicago and that has acted yesterday to raise the debt ceiling ahead of potential default. but we haven't debt ceiling the first place in oneli week keep creeping towards these potential cliffs. >> first, thank you so much for having me on and i'm really excited to be a cspan the debt limit began he recently speaking, created in 1917, as a way for the u.s. treasury to be more able funded the first world war and up to that point, congress usually authorize each individual treasury debt. for specific purposes for example issuing debt for the panama canal with the advent of world war i and the massive increase in government spending, and became a reasonable thing to do so the debt limit on one hand, the treasury's more ability to better advantage the treasury's cash and debt but on the other hand also to make sure the treasury was not issuing too much debt

and the british empire, who had a national debt that exceeded their gdp the. ional debt already exceeds gdp --our national d ebt. if you watch the little ticker, you can see that. the only thing that gives us pause as to how much money we are spending is that [indiscernible] our rising. the debt limit causes us to stop and talk and be able to realize just what a quagmire we are putting ourselves in. the government has got to stop exceeding its ability to spend money. there are not enough wealthy people in the universe to pay off the national debt. the only way to start pivoting back is to grow the gdp. that way to do that is by what was done under donald trump when he had taxes lowered and corporations, jobs expanded and more money went back into the national treasury than in the history of the country. i wanted to point that out. guest: i think that was an excellent question. there are a few important things. i note two examples where we have had in the history of the nation a country with over 100% debt to gdp and paid it off. the first was the u.s. after wor

the debt ceiling on their own. >> it is one about partisan shortcut. around procedural hurdles. they can actually clear on their own. >> president biden says lifting the nation's debt ceiling isn't connected to the infrastructure bill or the build back better agenda reporting in washington. rashad hudson, back to you. >> ahead, a routine inspection turns deadly on one and tracked rain. what officials say happened moments before a suspect opened fire on dea agents and in sports, lot going on. the giants are moving on to the nl division series sports director jason dumas has schedule. plus an update on forty-niners quarterback jimmy garoppolo who left yesterday's game with an injury. and a life changing achievement for 2 california. scientists. one of them resigns right here in the bay area. next. the medical breakthrough that won them a nobel prize. people were afraid i was contagious. i felt gross. it was kind of a shock after i started cosentyx. four years clear. real people with psoriasis look and feel better with cosentyx. don't use if you're allergic to cosentyx. before starting, get checked for tuberculosis. an increased risk of infections —some serious—

we are following several developing stories including a crucial deadline to raise the nation's debt ceilinghe white house to urge congress to come together to take action and avoid defaulting on the nation's debt for the first time ever. >> the president is also heading to michigan tomorrow to rally support for his bipartisan infrastructure bill as well as the larger budget, sweeping social and climate spending package, negotiations are continuing somewhat between moderate democrats and progressives. they have gone home from capitol hill. on the overall price of the spending package, what's included in it, after the white house and democratic leadership

. >>> with just days to spare the senate has voted to increase the nation's debt limit. that deal will keep paychecks for the military and social security benefits flowing for at least the next two months. nbc's chris fallone is on capitol hill. >> reporter: disaster deferred for now. >> the ayes 50ed the nays 48. >> reporter: senate republicans moving aside to temporarily allow democrats to raise the nation's debt limit. >> republicans played a dangerous and risky partisan game and i'm glad their bringsman ship did not work. >> reporter: it would raise the debt limit by 480 billion dollars, enough to keep the country's bills paid until early december. >> we voted. averted the fiscal clip. at least for now. >> reporter: republicans upset hoping to use the debt limit fight to slow president biden's future spending plans. >> unfortunately, yesterday, republicans blinked. i think that was a mistake. i think that was the wrong decision. >> reporter: congressional democrats now turn their attention back to passing a bipartisan infrastructure bill and a much bigger spending bil

debt that the ratio at the national debt, of course the deadline to increase that ceiling in the u. s. is looming. do you think leaves inflation rates will have an impact on that? there is not a debt feeling in america. it's the debt will be increased in tall. the bond market collapses, and we have to declare insolvency. here there 9 states look in 1971. america defaulted on its obligation to great britain by closing the gold window. so america defaulted on its sovereign debt in 1971. i expect america to default again on its sovereign debt. and i think the great britain is going to require another. i'm a bail out just like they did on the 1970 the, the after brags of the u. k. economy is such a shambolic mess right now that they're going to need a major. i'm a bail out. there is just horrible situation economically speaking. so you mentioned one way to deal with this is obviously raising interest rates to, to, to dr. inflation and obvious move. but what is the answer to this problem and what can the us treasury on the fed do right now to deal with this losing

by going that process, as i noted they'll have to specify the exact level they want to raise the national debt limit to. rather than suspending the national debt limit which is what democrats want to do. suspend it and say it does not apply up until after the november midterms. all about taking very difficult votes that democrats don't want to take and republicans, too, don't want to offer any of their support to suspending the national debt limit which is why this back and forth has been happening for weeks. who is going to own this vote? what is the process going to be running up into a potential default. at the moment short-term crisis. looks to be averted. we'll see if they can deal with it in the long term. >> god forbid politicians have to take a controversial position on an issue. >>> kaitlan collins is live at the white house. is the white house on the same page as senate democrats because senate democrats are basically taking this temporary deal but what does jen psaki have to say about it? >> jake, they don't seem nearly as excited as the senate democrats are. they're not framing it

they'd have to specify how much to raise the national debt which is approaching $29 trillion at the momentrats don't want to take. at the moment they're signaling we'll avert this crisis in the short term. but in the long term, a major question and almost certainly will be back debating this in a couple of months once they sign off on the details of how the short-term agreement will work. >> couldn't democrats, if they get their build back better reconciliation act together, and get 50 votes for that, couldn't they also put raising the debt ceiling in there and then just pass it with 50 votes and not have to worry about republicans? >> they could definitely do that, jake, but it would also -- going through that process, they'd have to take additional steps, procedural steps to cast a series of votes in a marathon voting session known as the vote-a-rama. senators can offer as many moments as they want. often times very politically charged amendments aimed at putting their party in a difficult

that increases the cost of the national debt and creates budget issues. at was steven mnuchin speaking with david westin. let's stick with the u.s. economy and talk more about jobs data. a senior economist joins us now. a huge range of estimates for the jobs data due out. what are you expecting in terms of a surprise in either direction? kim: i think there's still a great amount of uncertainty around where this number could land. we think we are likely to see a down -- a downward surprise tomorrow. that's because of the fact that we are likely to still have seen some destruction to the labor market because of elevated covid cases and high death rates. if you look at one covid cases and death rates started to, it wasn't until later in september and it was passed the reference time for the payroll survey. we think that fear of catching the virus may have held a few people back from returning to the workforce especially in the close contact roles like hospitality. that's where there are high vacancies. from our point of view, even though we are expecting a do

employees and eager back to work and the republicans have taken this strategy of defaulting on the national debt. as far as the characterization of what reconciliation will do, senator mcconnell continues to come to the floor repeatedly and say, it will hurt families. one of the provisions in the reconciliation bill which i hope survives our compromised negotiation, will help families find affordable, quality, care and when you look at the mass for the vast majority of those ahead of those who are not returning to work, they are women you understand the circumstances. many of them question whethero r not it was going to be in person or via zoom and the question of whether or not they can find affordable daycare in any direction and the question whether they can afford it once they find it. and if we took that worry off of the family place, we said that we are going to make sure you have accessible, affordable, family care for your children, think of the relief that we would given the fact that many would return to the workplace. according to senator from kentucky, senator mcconnell, the hurt fam

>>> tonight, president biden slamming republicans for refusing to join democrats in raising the nation's debt ceiling, calling their actions hypocritical, dangerous, and disgraceful. congress facing a deadline of october 18th, two weeks from tonight, to increase the country's borrowing limit, or the nation could default on its debt for the first time in history. >>> facebook whistle-blower frances haugen testifying on capitol hill today, saying she is coming forward because she says facebook knows its platforms are used to spread hate and misinformation, but she alleges the company hides that evidence. >>> and is this the end of the covid pandemic? is the end in sight? new cases, hospitalizations, and deaths are all trending down. but what about the upcoming holiday season? we're going to get some answers from our very own dr. sanjay gupta. >>> first i want to bring in cnn senior political analyst kirsten powers and john avlon. mr. avalon, you are first. so the country is facing the potential of its first default in our history. republicans know this could be catastrophic, but they're still r

the senate side. because treasury secretary janet yellen was warning that if congress did not address the debt ceiling, the nation would default on its debt by october 18th. so now it is looking like that's not going to happen, but it's not a permanent solution. it's just a two-month delay on this. but i really think you guys laid it out perfectly. there is a divide between republicans and democrats in the senate how this was handled. both republicans and democrats mad at their own leaders for how they handled this. you played that clip from senator joe manchin. he is incredibly upset that senate majority lieder chuck schumer took to the senate floor to slam republicans on this for refusing to do this in a bipartisan way which has been done since 2011. he did not think that this is how politics should be working right now. you know manchin has always been an advocate for bipartisanship. as a moderate democrat. on the other hand, republicans such as ted cruz, rand paul, lindsey graham who are incredibly upset that senate minority leader mitch mcconnell cut a deal with schumer in the first place. mcconnell had orig

inflation, and we could easily end up with 3.5% tenure treasuries, which increases the cost of the national debtnd creates budget issues. dani: former treasury secretary steven mnuchin on the possibility of a 3.5%. department of energy saying they do not have plans to release those reserves yet. we also have the jobs report that will be key for investors to assess whether the abrupt decline in hiring in august was a blip or something with staying power. joining us is kiran ganesh, global head of investment communications, ubs wealth management. thank you for joining us this morning. all eyes on the jobs report later today. how would you characterize the risks going into the numbers? kiran: as i was with jobs reports, it is whether it is too hot or cold. investors will look at it on the risk side. a relatively weak month last month. if below expectations this month,, that could lead to concerns that the effect of the delta variant and weaker consumer confidence is weighing on the jobs market. if it comes in too hot, people may shift their focus away from tapering and maybe toward rate hikes. if i

under the new rules, fully vaccinated foreign nationals will be allowed to enter the u.s., regardless of the reason. >>> after weeks of partisan gridlock, the house has extended the nation's debtgh early december, avoiding economic catastrophe for now. president biden is expected to sign off on the short-term extension soon. >>> and he's lived long and prospered, and now he is going where no other 90-year-old has gone before. william shatner, or captain kirk from "star trek" is headed to space with blue origin, making him the oldest man to go. for more news download the cbs news app on your cell phone or connected tv. i'm tom hanson, cbs news, new york. ♪ >> announcer: this is the "cbs overnight news." >> good evening and thank you for joining us. we want to begin with the revelation tonight from a coroner in wyoming that gabby petito was strangled to death. the 22-year-old's body was found in wyoming more than three weeks ago, just days after her fiance, brian laundrie, disappeared. the coroner says petito's body had been exposed to the elements and wildlife for several weeks before she was found. he did not offer many details. he wouldn't say if she was buried. but in respon

of the nation's largest banks ceo's explain the impact this could have on the u.s. economy. >> the ferry raise the debtthe safety of united states treasury securities. >> to put the pressure on lawmakers wednesday. president biden met with leaders of some of the nation's largest banks. it's about paying for what we owe and preventing a catastrophic event. the president blames republicans for putting the nation's financial health in jeopardy. raising the debt limit is usually bipartisan. if they don't want to do the job. just get out of the way. we'll take that he will do it for weeks. the treasury secretary has sounded the alarm that failure to raise the debt limit would disrupt medicare payments salaries for service members and social security checks into full will call into question. >> the full faith and credit of the united states. >> but senate republican leader mitch mcconnell says this is a crisis of democrats on making. these are the leadership skills of people who spent much doing nothing. and then complain. they're short on time. well, the u.s. has never failed to pay its bills. the treasury

for instance, he promised that he was elected president he would in the national debt in the first term. i observed that has not happened at the national debt has gone through the roof in his four years as president. and then costa and i talked, you remember what you said to me. >> well, bob, we had several conversations at the time about how we have to take trump seriously but i really think, bob woodward and i have discussed this, that interview in 2016 was a precursor to this book. in particular in terms of the method. when i approached woodward and we say hey, let's go talk to this candidate donald trump, he said let's just not going there with a fishing pole as reporters and try to get different soundbites. let's prepare, really prepare for the interview. he showed me some of these documents that is presented to other presidential candidates and president in the past and he said to me back in 2016 in february and march as we're getting ready, think about decisions, why do trump decide to run x how does he want to use power? if he achieves and wins the presidency, how would he wield

never looked to the -- lifted a finger to start the bipartisan discussions on how to raise the debt ceiling while addressing america's exploding national debt. they have insisted on one party rule all year from an unnecessary wasteful $2 trillion covid stimulus that didn't stimulate the economy or defeat the virus, to a national takeover the state and local elections, bailouts of bailing state and local governments, ignoring the humanitarian security crisis at the southern border, and the disastrous surrender to the taliban in afghanistan. house democrats have made it clear we are running the place, just sit down and shut up. the bottom line on the debt ceiling today, democrats alone have set fire to america's house and are now demanding republicans put it out for them. i urge treasury secretary yellen, who i respect and who has bipartisan credibility to do what the congressional democrats have not. engage with republicans on a reasonable framework of financial stability for our nation. there is precedent. secretary mnuchin certainly set that, reaching out repeatedly to democrat leadership on these issues. although it should be noted g

the debt ceiling. that is what mcconnell asked for three months, let democrats vote for. if they got out of the way as pretty much everyone has warned the first ever default on the national debt would be catastrophic for our economy and gravely harm americans across this country. again, we can avoid a debt ceiling crisis if republicans would just get out of the way. we are not ask them to vote yes just get out of the way. they house a message that provides for suspension of the debt ceiling until december of 2022. the senate will hold that vote tomorrow and once again every senator will face a choice. we can stop this republican manufactured debt ceiling crisis in its tracks or republicans can keep driving ever closer to the first default in american history. it's perfectly clear to everyone, everyone that democrats are working to prevent a default and republicans are deliberately likely to make it happen. republicans have been offered multiple opportunities to take a step back and de-escalate the crisis they have created. : : : >> allow a simple majority vote, exactly what happens in the early 2000 and what republicans have been citing and saying thae blocked it. what al

house gave final approval to a measure that temporarily raises the nation's debt limit. e vote came down along party lines with republicans voting no. they think democrats should take sole responsibility for raising the debt limit. the democrats argue more money is needed to pay for the trump administration's tax cuts as well as spending programs. the short-term fix will end in december, teeing up another fight to avoid a potential financial crisis. well, the nation's debt limit is just one of the many mounting issues facing president joe biden. from the pandemic to rising gas prices as well as supply chain disruptions. but perhaps most frustrating is democratic stalemate over his domestic agenda, and here's how the white house is handling it. take a listen. >> we don't get too glum around here. even if things look challenging, our view and his view is he was elected to continue to press forward and address the challenges the american people are facing. >>> well, and democrats will now have to decide how to address key priorities as they try to shrink the size of a social

the washington post" talking about the debt ceiling fight. raising the debt ceiling today pays for yesterday's bills. specifically spending authorized when republicans were in power. the national debt grew exponentially during donald trump's presidency approaching world war ii lefrls at 128% of the gross domestic product. the national debt stands at about $28 trillion at this point and it rose by about 7.8 trillion under trump. jeff stein at "the post" wrote that. what do you have of this with mitch mcconnell saying it is not my problem. not the republicans' problem. our hands are clean and on the democrats' back when in fact raising the debt limit, right, suspending the debt limit would be to pay for the bills that built up over four years under donald trump. >> sure. this is very typical of mitch mcconnell and his uncaring position. the fact is that a large part of that debt was the $1.5 trillion in tax cut that is the republicans are totally focused on giving in their time and now it is time to make sure that our economy doesn't tank. they take no responsibility for it. it's very typical of the republicans. they don't give a rip. they take no responsibility and i think the

biden says raising the nation's debt limit isn't connected to the infrastructure bill or his build backagenda. >> if they changed the algorithm to be safer film make less money next at a bombshell testimony from a former facebook employee about how she says. >> the company profits over public health. >> in sports. the forty-niners got some good news regarding jimmy garoppolo's injury from yesterday's game sports% director jason dumas has an update and reaction fro >> i might have seen it. a facebook whistleblower went public on 60 minutes last night. she was the source of the wall street journal series of star stories exposing the company's awareness of internal research into the negative effects of facebook products. in an exclusive interview that aired yesterday, the former facebook employee reveals identity and what she saw happening inside the company. >> if they changed the algorithm to be safer make less money that they get the fortitude and the motivation to actually go put those regulations into place. >> speaking to 60 minutes. france's haugen said the social media platform is

. >> does the president still belief the build back better will not add a dime to the national debt. 't. >> why should americans believe. this because it won't. >> the simple truth is, no matter how hard you work, no matter how strong this economy grows, no matter how much more tax money comes to washington, it won't amount to a hill of beans if government won't curve its endless appetite to spend. >> bret: being here at the reagan library let us go into the library and listen to the soundbites, kimberly. there is knowingation on board now. manchin saying it's possible toward the end of the week for this his numbers 1.5 trillion seems like they are still a long way away. and they are stuck on saying it's not going to cost anything or add to the national debt that reagan clip is so apt. a theme of his. and it resonated with the public. who fundamentally understands for the most part government spending doesn't do a lot of gooded. this is where democrats made that error. they have been out there bragging how big this bill is going to be. how it's going to remedy everything. and claiming

everyone has warned, that a first -- as pretty much everyone has warned, a first ever default on the national debt would be catastrophic for our economy and grimly harm americans -- gravely harm americans across this country. we can avoid a debt ceiling crisis if republicans would just get out of the way. we are not asking them to vote yes, just get out of the way. the house may change -- house message provides for a suspension on the debt ceiling until december 2022. the senate will hold that vote tomorrow. once again, every senator will face a choice. we can stop this republican manufactured debt ceiling crisis in its tracks or republicans can keep driving our country ever closer to the first default in american history. it is perfectly clear to everyone, everyone, that democrats are working to prevent a default and republicans are deliberately making it more likely to happen. republicans have been offered multiple opportunities to take a step back and de-escalate the crisis they created, but each time the republican leader has chosen to escalate it instead. last week, i offered a commonsense pr

senate gridlock. >> the falling on the debt would lead to a self-inflicted wound that takes our economy over a cliff. >> reporter: specifically a debt default could drive the nation'sredit rating down and interest rates up, and it's all completely avoidable. norah, the two sides working together managed to raise the debt ceiling three times under president trump. >> o'donnell: you can hear the frustration building, nancy cordes, thank you. new details on a deadly shooting on an amtrak train in tucson, arizona. one federal agent killed, another in critical condition. the shooting broke out as the agents were searching for guns and drugs. cbs's jeff pegues has the latest. >> reporter: when the first barrage of shots were fired on the amtrak trainers onlooks, didn't know what was happening until they saw a k-9 officer run toward the gunman. sheen in one yelled, get out of there, get out of there. more gunfire. the officer backs off the train and runs for his life as the gunman fired again. the shootout continues with bullets ricocheting around tucson's downtown train depot. late today officials said it all started on the train with a confrontation between two d.e.a. a

but in washington there appears to be movement on increasing the nation's debt limit. lawmakers have just 11 days to pass a debt limit increase. a default would likely trigger a recession and rattle the world's financial markets. chris pollone has more from capitol hill. >> reporter: good morning. if negotiations go well today, the senate could vote to increase the nation's debt limit, avoiding a financial crisis for at least a couple of months. the senate majority leader saying late last night that there still are some minor details to work out. >> we're making good progress. we're not there yet, but i hope we can come to an agreement tomorrow. >> i'm not going to vote for the ceiling increase. i'm just not. >> reporter: for weeks republicans have blocked democrats' attempts protesting the biden administration's future spending goals, including a $3.5 trillion social program and climate change bill by potentially defaulting on spending largely incurred during the trump administration. mitch mcconnell appears to let the debt limit raise with a simple majority, but with

mitch mcconnell has confirmed that he is floating two ideas to solve the nation's debt limit crisis. o he's concerned that manchin and sinema might gut the filibuster if there is thono deal on the d ceiling. manu, that makes sense. that's senator mcconnell's motivation for now wanting to participate in this process? >> that's what i was told from a senator who was in the room, closed door meeting that just wrapped up where mcconnell laid out these options about how to proceed amid the standoff that could potentially lead to first ever debt default in american history. both sides certainly don't want to be blamed for that. mcconnell now taking steps amid the standoff with democrats over the process for raising the debt limit and i'm told clearly he c conveyed that he's concerned there's immense pressure on manchin and sinema, the democratic is that rights who have refused to gut the rules. it requires 60 votes in the u.s. senate. most democrats want to lower that to 51. that would allow them to advance a debt ceiling increase by just democratic votes alone. now manchin and sinema held

biden calling on republicans to get out of the way and let democrats move ahead with raising the nation's debt ceiling. with a vote scheduled for tomorrow, the question is how will this play out on capitol hill? >>> plus n the fight over infrastructure, president biden tells progressives the cost of the $3.5 trillion reconciliation package needs to come down. the question is will democrats find a price tag that works for everyone? >>> and facebook, whatsapp, and instagram back online after being down for hours. a whistle employer is set to appear on capitol hill after accusing a t company of valuing profits over safety. the question is will we see congress regulate facebook? it's "way too early" for this. ♪♪ >>> good morning and welcome to "way too early," the show that has baseball game to watch tonight and it's already very nervous. i'm jonathan lemire on this tuesday, october 5th. eat less start with the news. senate majority leader chuck schumer has set up a vote tomorrow on a house bill that would raise the debt ceiling. it comes amid a standoff between democrats and republicans over spen

at the moment it's unclear, jake, because what we know is that this would essentially raise the national debtote will be approved by almost straight party lines, barely approved in the house but how they deal with that larger package extending the national debt limit potentially through next year's elections is uncertain because mitch mcconnell, the republican later in the senate says he'll not provide any republican votes next time to allow that process to move forward calling on democrats to use a separate process that would allow them to do it along straight party lines. it's uncertain whether democrats will ultimately have to go that route or they'll take other measures such as changing the senate's filibuster rules to do it on their own. all major decisions democrats face in the weeks ahead as uncertainty will continue to linger. >> manu speaker pelosi wrote a letter last night to her fellow democrats addressing the shrinking price tag on biden's big-ticket legislation. they need to shrink it down in order to get it through the senate. overwhelmingly, the guidance i'm receiving from memb

today told republican senators to get out of the way after they threatened to block a vote on the nation's debt ceiling. the president's irritation comes as congress faces an october 18 deadline to allow for more barring to keep the government operating. traditionally a bipartisan effort, senator minority leader mitch mcconnell is refusing to help. president biden wants the public to understand the issue. >> let me be really clear. this is really important to know. raising the debt limit is about paying off our old debts. it has nothing to do with any new spending. >> last week treasury secretary janet yellen warned that missing the deadline would be the first time in history the u.s. failed to pay its bills, which could result in, quote, economicroe. >>> now, abortion, gun rights and religion, some of the nation's most controversial issues will face the u.s. supreme court on this first monday in october. nbc's jay gray has a closer look at the extraordinary docket as they gather in person for the first time since the covid outbreak began. >> reporter: as protesters and police gather outside fo

this vote would suspend the national debt limit, overcome the filibuster, require 60 votes to suspend the debt limit until the end of november. now, i have checked with democratic leadership sources who are not yet saying whether or not it will be delayed. a bit of drama, a bit of uncertainty. we have to monitor what happens in a matter of moments. this all came as a result of a shift from senator mitch mcconnell, the minority leader, chuck schumer, what he's suggesting is to raise the national debt limit, up until december, by a few hundred billion dollars. they would all vote to do just that, and/or if not, proposing a fast track process to allow for the debt ceiling to be increased by democratic votes alone. now, democrats have not seen this proposal, mitch mcconnell only made this case to his colleagues privately. and now it's up to democrats also to agree to this, and it would also be up to all 100 senators to agree for a quick vote. one senator can scudttle that agreement. it could be a bit of a shift, a change, potentially moving forward ending a default here. we'll see what ha

the national debt, the provincial disaster management. auto did not dare and did of god robbing to see what had happened on the ground and how many structure have collapsed. i did wake what felt as far away at the provincial capital went about a 168 kilometers away from road and other radio than aftershocks, of course continued. but so far, the dead goal is not significantly high. however, we shall find out at the rescue efforts and the recovery effort i've got to get underway. the 1st time the world health organizations recommending the widespread use of a malaria vaccine for children. it's been tested the job in 3 countries since 2019 malaria is the primary cause of childhood illness and death in sub saharan africa was more than 260000 deaths every year. i. some of you may know i started my career as a multi researcher, and i longed for the day that we would have an effective vaccine against this ancient and terrible diseases. and today is that day on historic day to day doubly tuesday commending the broad use of the world's 1st my lead

we are following several developing stories including a crucial deadline to raise the nation's debt ceiling. president biden is expected to speak next hour from the white house to urge congress to come together to take action and avoid defaulting on the nation's debt for the first time ever. >> the president is also heading to michigan tomorrow to rally support for his bipartisan infrastructure bill as well as the larger budget, sweeping social and climate spending package, negotiations are continuing somewhat between moderate democrats and progressives. they have gone home from capitol hill. on the overall price of the spending package, what's included in it, after the white house and democratic leadership failed to broker an agreement on a frap framework that both sides would sign on to in the democratic party, by the way. let's go to john harwood at the white house. we've heard, i had debbie dingle on last hour who publicly criticized the president's leadership saying she was disappointed to not know where the president stood on this until the end of the week. i wondered does the white h

won't add a single penny, not 1 cent, even though they have been contradicted many times, to the national debt. a huge lie. take a look. >> the president still believe build back better will not add a dime to the national debt? >> correct, it won't. >> why should americans believe this? >> because it won't. >> he wants to get more taxes, what does that -- the economy goes sour, a lot of things can happen. you're going to tell future generations, not even born yet, that they are not on the hook for this, is that all right all right? >> that's right, and hopefully you will report accurate information yourself. >> sean: oh, because it won't? paid liar jen psaki. after afghanistan, the border, the economy, the covid disaster, why would anyone in their right mind to take the biden administration at their word? joe biden promised to beat the virus, knowing brand-new, more contagious and dangerous variant of the delta variant is on the way, and while joe is attending a squeeze low, middle income americans in order to pay for his new green new deal, build back better plan, these same amg under record-

debt default. you're looking live on the left side of your screen at the house floor, with those members back for literally only a few hours to raise the nation's few weeks. as we go inside negotiations among democrats, the house speaker forecasting a critical few days ahead. our latest reporting on whether democrats are any closer to a deal on their party's domestic agenda. we're live with our hill team and a member of the progressive caucus, ready to go one on one with us. also, breaking this afternoon, those autopsy results in the at o