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Economy: Budget/Debt Ceiling / Stock Market #998882

ABC Evening News for Friday, Jul 29, 2011
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(Studio: Diane Sawyer) The distress in the economy as chaos continues over the debt with worries about a recession outlined. [President OBAMA - says we could lose our AAA credit rating.]

(Studio: Bianna Golodryga) The drop in the stock market in response to the political stalemate over the budget examined. [Charles Schwab and Co. Liz Ann SONDERS†- comments on the confidence gap and lack of job growth; states the political game is maddening.] [In Massachusetts, small business owner Bill WEISSMAN†- says we have no idea where the economy is heading.]

(Studio: Diane Sawyer) The countdown to crisis clock shown.

(Washington: Jonathan Karl) The House passage of Speaker of the House John Boehner's budget bill after he caved in to the conservatives examined; details given about the role of Tea Party members in forcing Boehner to give in on a balanced budget amendment. [BOEHNER - says the House has acted; calls for something on the table from the Senate.] [Representative Jason CHAFFETZ†- says he cannot raise the debt ceiling.]

(Studio: Diane Sawyer) Report introduced.

(White House: Jake Tapper) The response of the White House to the stock market and fragile economy, concerns about House Republicans and "theoretical conversations" about negotiations reviewed.

(Studio: Diane Sawyer) What five ordinary Americans have to say about the debt crisis previewed.

Sawyer, Diane;
Golodryga, Bianna;
Karl, Jonathan;
Tapper, Jake

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