. >> joining me is congressman tom reid, first term republican from new york state. congressman, you guys a cult? >> oh, well first of all, thank you very much for the opportunity to be on here tonight with you mr. sharpton. >> thank you. >> what i would say is, no. we are serious as the freshman class member of the house of representatives, we are serious about getting our fiscal house in order so we can get this american economy going and bring certainty and confidence back it america and to the private sector. >> as you bring certainty back, you talk about in the balanced budget amendments that went through the house today, cutting $111 billion, is that right? in some of the expenditures you want cut for immediate spending cuts. you want to protect tax breaks for the rich and corporations, cuts up to 20% and social security and medicaid by 2021. i mean, how do you expect to restore balance with shared sacrifice when it seems the rich and corporations are giving up nothing. in fact, they are getting something. and you're cutting social security. you cut medicare. y

here is senator tom coburn. >> harry reid and mitch mcconnell are planning on putting $1.5 trillion worth of spending cuts. it doesn't do it. it doesn't fix the problem. i think the mcconnell plan is more of washington not taking responsibility for -- it's a great political plan, is takes the pressure off all the politicians, but allows us to pass a debt limit without making the hard choices that this country has to make. >> reporter: so senator coburn is not sold, but the question remains, where are the votes in the united states senate to get a bigger, boulder plan through to the president's desk for his signature, jon? jon: it so happens we swr a senator joining us that might be able to answer that question. thank you. jenna: lindsey graham serves on the judiciary committee. are you behind the mcconnell-reid plan. >> i can't imagine any plan passing through the senate and house that doesn't cut the debt. between now and next november you need to barrow or 10 trillion. i don't see any republican voting for a plan that doesn't cut the government at least equal to what you raise the debt

tom friedman is hitler. there you go. >> what harry reid said about the tea party -- >> if he could say hezbollah, i can say correct? >> you're 100% right, absolutely right. >> what about reid? i can read it for you. >> read it, will you. >> reid tweeted last night, boehner's plan is not a compromise, it was written for the tea party, not the american people. hmm. democrats will wil will not vot. and it was hashtagged -- >> i'm getting vaguely turned on. >> go ahead. >> first of all, you've got the senate majority leader, the tough democrat in the united states senate saying basically tea party folks are not really average americans, they're not the american people. then you've got tom friedman, the quintessential writer for "the new york times" going out, comparing tea party folks to radical islamic terrorists. so much for the new tone, number one. number two, the tea party -- >> can i take notes? >> yes, kimberly, please. the tea party stands for three things -- constitutionally limited government, fiscal responsibility, and free markets. i can see where you think those are radical ideas and off the wall,

. >> as you've heard, senator reid's having his colleagues that cut cap and balance will be, quote, disposed of, but gang of six member oklahoma republican senator tom coburn believes president obama's threat to veto the bill is hollow. >> the fact is, is you can't solve our problem unless you do what cut, cap and balance wants to do. so it doesn't matter what the polls are. we've got to fix our country. and this is the only viable plan right now that will do that. and i will bet you a porterhouse steak if it lands on his desk he'll sign this puppy. >>> meanwhile the spokesman for john boehner is shooting downtalk of a possible compromise, telling nbc news, quote, while we are keeping the lines of communication open, there is no deal and no progress to report. on the other ther side, jay car also dismissing those reports. >> the breaking news report that you all have probably received is incorrect. there is no deal, we are not close to a deal. we are obviously -- the president is in discussion with all the leaders of congress as well as other members, and exploring are the possibility of getting the biggest deal possible. >> the senate is scheduled

tom coburn will try to get $9 million in cuts in the next ten years. on the maul side, mitch mcconnell has gone back to kentucky is still having conversations with harry reidocratic leader about something that would essentially for all intents and purposes punt this for down the road. so, there really is the whole gamut still under discussion. >> option c could be something, again, that the s&p and others don't want to hear. give me 4 trillion or more. thank you. >>> breaking news that hour about an arrest in the investigation of that phone hacking scandal in great britain. we'll bring you a live report from london. we set our goals higher than anyone. perdue is the first and the only chicken company to have usda-process-verified programs for fresh all-natural chicken. [ joe ] we never have used steroids or hormones of any type, and always raised cage-free. we're trying to make a better chicken. and started earning loads of points. you got a weather balloon with points? yes i did. [ man ] points i could use for just about anything. ♪ ♪ there it is. [ man ] so i used mine to get a whole new perspective. ♪ [ male announcer ] the new citi thankyou premier car

tom, i'm sorry. i didn't do that one right, but i want to say this too, i think that probably there is more of a relationship in communication between harry reiditch mcconnell than a lot of people realize and you've seen whether you agree with what they're doing or not, in the last week they've been talking about, okay, what do we do if we do have to go to a fallback final plan? and they've been widely communicating and working. >> the tea party freshmen upon whom all of this is being laid really who say compromise is a dirty word, are they complicating the picture? >> well, when you're a new member, you have very strong feelings. i remember when i first came to the house, my attitude was i wanted it my way or not at all. and over the year, i found out that if you take that attitude, what you get is nothing. you got to be prepared to do some compromising. it's not a dirty word. it's part of the legislative process. when you've got in the senate 100 united states senators from different regions, different philosophies and backgrounds, you have to find some common ground. it's never easy, so i don't lay the blame on these new members. i do think

reid plan. this plan does not sell well with house republicans. a lot saying it's an abdication of responsibility, quote/unquote and even members of the united states senate including tom coburn which said it's a typical washington response that kicks the can downeolving the nation' fiscal problems. that's what's going on here in washington, d.c. as far as timing, dylan, the weekend of july 30th i'm told, that might be a weekend which you should cancel out your calendar and get ready to look at the fireworks near washington. that's the weekend the final deal would most likely go through the house of representatives. anything could happen until then. july 30th weekend could be it. final passage. thank you, luke. >>> away from the congressional two-step and to a real debt debate. the one has goes to the core of our functionality, our macrkets and political system. our next guest not only has a plan, you may not agree with everything he has to say, but you cannot say that this man wants to kick the can down the road or do any special favors for any special interests. i consider him ap true conservative. in the classical sense of what it means to be a conservative. you're

reid and a few minutes. we will also hear from republican senator tom colburn who is part of a bipartisan group of senators working on a debt reduction measure. but first, here's massachusetts senator john kerry on the floor and why he opposes the house republican bill. >> madame president obviously th well everybody in america is more than well aware that the date of august 2nd has passed coming at us. and also unfortunately well aware that the united states senate and the congress appear y to be stuck yet again that this moment in effect during the set we are debating a constitutional to amendment to balance the budget instead of balancing the budget mes i've heard from of sidesteps around here but this is what they call the message amendment.pretty mix and it's sending a pretty mixed message to america. here but, what we ought to be doing pie here is not trying to pass ao piece of paper that tells us to do what we know we ought to do. we ought to be doing it. what we ought to be doing is stopping the country fromt defaulting on debt that has already been obligated. in what people are refusing to do in the house

no and, tom couk coburn has a plan solve the debt crisis and most proposals on the table right now, he says, don't go far enough. >> harry reid mcconnell are planning on putting $1.5 trillion worth of spending cuts with it and that doesn't do it. it doesn't send -- fix the problem. and the mcconnell plan is more of washington not taking responsibility for -- it's a great political plan, and it takes the pressure off of all of the politicians and allows us to pass a debt limit without making the hard choices that the country has to make. jamie: and senator coburn will hold a news conference at 2:30 eastern time, claiming he'll announce a blueprint for cutting $9 trillion in red ink, while raising a trillion dollars, in new revenue. meanwhile, the tea party republicans eyeing an amendment to the constitution, as a solution to the debt problem. the house will vote tomorrow on the so-called cut, cap and balance plan. and it would allow a $2.4 trillion increase in the debt ceiling, but, only after an immediate $100 billion budget cut. republicans not thrilled about the increase debt limit, democrats claiming the budget cuts will b

hereby appoint the honorable tom udall, a senator from the state of new mexico, to perform the duties f the chair. signed: daniel k. inouye, president pro tempore. mr. reid: mr. president? the presiding officer: the majority leader recognized. mr. reid: following leader remarks, the senate will be in a period of morning business for one hour. the majority will control the first half, the republicans will control the second half. following morning business, i will be recognized. mr. president, h.r. 1938 is due for a second reading i'm told. the presiding officer: the clerk will report. the clerk: h.r. 1938, an act to direct the president to expedite the consideration and approval of the construction and operation of the keystone xl oil pipeline, and for other purposes. mr. reid: mr. president, i would object to any further proceedings at this time on this legislation. the presiding officer: objection having been heard, the bill will be placed on the calendar. mr. reid: i now ask unanimous consent on behalf of senator bingaman that his interns shannon simpson, brook jordi and tray dubrey be granted floor privileges during today's business. the presiding of

hereby appoint the honorable tom udall, a senator from the state of new mexico, to perform the duties of the chair. signed: daniel k. inouye, president pro tempore. mr. reid: mr. president? the presiding officer: the majority leader is recognized. mr. reid: following leader remarks, the senate will resume the motion to proceed to s. 1323, which is a bill to express the sense of the senate on shared sacrifice in the resulting budget deficit, with the time until 10:00 a.m. this morning equally divided and controlled between the two leaders or their designees. at 10:00 a.m. there will be a vote on the motion to invoke cloture on the motion to proceed to s. 1323. this could be the only vote of the day although there may be procedural matters that may arise. today the senate is calling on millionaires and billionaires to contribute to this country's effort to reduce our deficit. the poor, middle-class children and seniors have already been asked to make sacrifices to put our fiscal house in order. this legislation would reaffirm the senate's commitment to ensure the extremely wealthy are asked to make sacrifices. this principle that all americans should contri

reid before. senator jim demint, republican of south carolina talks about downgrade deals. quote, we've gone past the point of no return. we fully expect the u.s. will lose its aaa status. tom graves there, georgia. i agree with my friend, congressman jim jordan. washington wants a deal. america wants a solution. cut, cap and balance. long island, new york, rich, republican. you're on the air. >> caller: hi, i'd like to know when the senior citizens and medicare and medicaid recipients are also going to contribute to the solution? i don't hear anybody offering to have social security dropped just a little bit. or medicaid or medicare just a little bit. why aren't they contributing. >> host: describe a little bit. how much is the right amount to you? >> caller: how about cutting cost of living increase by 1% a year. so if, cost of living goes up 2.2%, we raise social security 1.2%. how about slowly reducing the medicare coverage from 80% by, let's say half a percent a year down to 75%? this way everybody contributes to the solution instead of only the wealthy. >> host: rich, are taxes and or revenues depending where you're sitting are they part of the story here? should they

hereby appoint the honorable tom udall, a senator from the state of new mexico, to perform the duties of the chair. signed: daniel k. inouye, president pro tempore. mr. reid: mr. president? the presiding officer: the majority leader is recognized. mr. reid: following any leader remarks, the senate will be in a period of morning business until 3:30 this afternoon. following that morning business, the senate will resume consideration of of the military construction-veterans affairs and related agencies appropriation bill. at 5: p.m., the senate will vote -- i'm sorry, will go to executive session to consider the nomination of j. paul oetken and at 5:30 there there be a roll call vote on confirmation of that nomination. h.r. 2018 is at the desk ask due for a second reading, i'm told. the presiding officer: the clerk will read the title of the bill for the second time. the clerk: h.r. 2018, an act to amend the federal water pollution control act to preserve the authority of each state to make determinations relating to the state's water quality standards and for other purposes. mr. reid: in order to object to any further proceedings, mr. president, with this

reid are coming up with is still going to be the thing that raises the debt ceiling. but this -- you know, one of the reasons the president endorsed this, conservative oklahoma senator tom coburn came out and endorsed it in the morning. two hours later the president did. the closest friend in the republican party the president has is tom coburn, ann. >> okay. now, at the same time, according to this new nbc news/"wall street journal" poll, while 55% of americans believe not raising the debt ceiling would be a, quote, real and serious problem, there doesn't seem to be a consensus on just exactly what washington should do, chuck. >> well, there isn't. now, when we presented them the two options that were being debated last week, the president's idea of this $4 trillion which is similar to gang of six, a $4 trillion mix of some tax hikes plus some cuts and reforms to entitlements like medicare and social security versus a cuts-only approach that house republicans were pitching, it was a landslide as far as what the public preferred. 58% preferring the president's vision on that front versus 36% on theirs. so this is a case where the president and the white house, they're s