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Budget: Debt Ceiling / Bernanke / Negotiations / Obama Interview #997483

CBS Evening News for Wednesday, Jul 13, 2011
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(Studio: Russ Mitchell) The pressure on Congress and the president to reach a deal on the debt ceiling introduced.

(Washington: Nancy Cordes) The warning from Federal Reserve Board chairman Ben Bernanke to Congress about the need to raise the debt limit featured; details given of the math on the government's shortfall. [BERNANKE - says there would be significant cuts after August 2.] [Representative Nancy PELOSI - believes the US will pay its bills.] [Representative Louie GOHMERT†- questions the president's scare tactics.]

(Studio: Russ Mitchell) Report introduced.

(White House: Chip Reid) The budget negotiations between President Obama and Congressional leaders reviewed; photos from the negotiating session shown; a statement from Representative John Boehner quoted; details given about the breakdown of the "big deal."

(Studio: Russ Mitchell, Anthony Mason) Moody's threat to review America's credit rating discussed; Moody's statement on a default quoted.

(Studio: Russ Mitchell) Report introduced.

(White House: Scott Pelley) An excerpt from the CBS interview with Obama presented. [OBAMA - says a default would lead to: a rise in interest rates for everybody; comments on the meetings in which politics and ideological differences being set aside.]

Mitchell, Russ;
Cordes, Nancy;
Reid, Chip;
Anthony, Russ Mitchell,;
Pelley, Scott

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