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Budget" Debt Ceiling / Politics / A Discussion #998048

CNN Evening News for Wednesday, Jul 20, 2011
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(Studio: Sanjay Gupta; Washington: Jessica Yellin) Breaking news on the budget crisis with no breakthrough for a deal between President Obama and Congress, why Obama is pushing for a bigger deal and how the dead-enders in Congress will not deal discussed.

(Studio: Sanjay Gupta) The views of Democrats and Republicans on taxes for the rich outlined. [Democrats Representatives Jan SCHAKOWSKY, Judy CHU, Senator Harry REID, OBAMA, Representative Sherrod BROWN, Senator Barbara BOXER, Representatived Ted DEUTCH, Nydia VELAZQUEZ - complain about the rich {"millionaiers and billionaires"} and taxes.] [Republicans Representatives Jeb HENSARLING, Michele BACHMANN, Speaker of the House John BOEHNER, Representatives Eric CANTOR, Peter ROSKAM, Cathy McMorris RODGERS†, Renee ELLMERS, Spencer Bachus, Senator Kay Bailey HUTCHISON - defend America's "job creators."] The big cuts called for by Republicans outlined on screen.

(Studio: Sanjay Gupta) Live discussion held with former New Jersey Governor Jon Corzine and Republican Carly Fiorina about the budget deficit and revenue suggestions. [FIORINA - criticizes the Democrats' tax plan; adds the deal on the table would solve the issue; calls for lowering tax rates and closing loopholes; agrees we have to raise the debt ceiling, but the president has to lead here with bipartisan support.] [CORZINE - suggests we are playing Russian roulette with the debt ceiling that would lead to a rise in interest rates; states the president has been leading and has been pushing for a grand bargain.]

Gupta, Sanjay;
Yellin, Jessica

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