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Budget / Debt Ceiling #1002585

NBC Evening News for Thursday, Jul 14, 2011
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(Studio: Brian Williams) The human stampede in Dallas for federal housing assistance and the crowd lined up for jobs at an auto plant shown.

(White House: Kristen Welker) The showdown over a deal to raise the debt ceiling updated; photos shown from the White House meeting between President Obama and Congressional leaders; details given about a testy exchange between Obama and Representative Eric Cantor and warnings that the US credit rating could be downgraded. [Treasury Secretary Timothy GEITHNER – says we have no way to give Congress more time.] [From NBC 4, OBAMA – says now is the time to do what’s right by the country.] [Senator Charles SCHUMER†- states Cantor is the only person who has not made any concessions.] [CANTOR – says we don’t want to raise taxes.] [Speaker of the House John BOEHNER – defends Cantor.] [Senator Harry REID – says we have a few days to work this out.]

(Studio: Brian Williams) Report introduced.

(Washington: Tom Costello) What would happen if the US defaults on its debt examined. [Federal Reserve Board chairman Ben Bernanke – says it would be a severe financial shock with effects on the US and global economy.] [Former CBO director Douglas HOLTZ-EAKIN†- notes the impact on Social Security.] [CNBC’s Steve LIESMAN – says if they don’t act it could undermine confidence in the US.]

Williams, Brian;
Welker, Kristen;
Costello, Tom

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