Mark Zandi, chief economist for Moody's Analytics, says he thinks the deal being discussed 'should avoid' a downgrade.
White House economic adviser Gene Sperling says any deal to raise the debt ceiling will not bring in new revenue. "Nobody is talking about raising any revenues over the next year and a half. [Obama] has been pushing very hard to cut taxes with the payroll tax cut extension for next year."
Democratic Sen. Chuck Schumer sounded optimistic Sunday morning about a deal that would avert a fiscal crisis. "If there's a word that would right here that would sum up the mood, it would be relief. ... there is no final agreement... but default is far less of a possibility now than it was even a day ago."
Senate Majority Leader Mitch McConnell outlined the deal that's being discussed to raise the debt ceiling. "I'm very close to being able to recommend to my members that we have an agreement here that I'll be able to consider supporting."
(CNN)-It's early, and State of the Union is bringing you the best of the morning headlines to go with your cup of coffee.
This morning our guest host Gloria Borger will be bringing you the very latest on the debt ceiling negotiations, so be sure to watch our live interview with Senate Minority Leader Mitch McConnell at 9am ET.
(Updated at 5:00 p.m. ET Saturday)
The clock continues to tick down to the August 2nd deadline and with just days to go there’s still no deal on the debt ceiling. President Obama says the sides are not that far apart, but will they be able to finally find compromise? The Boehner plan passes the House, but will it be dead on arrival in the Senate? Where do they go from here and will they be able to find a plan to pass both the House and Senate?
First, guest host Gloria Borger will talk to Senate Minority Leader Mitch McConnell (R-KY) for the latest in the debt ceiling negotiations. We’ll also hear from Sen. Chuck Schumer (D-NY) with the view from the other side of the aisle.
The clock is still ticking, as we’re just days away from the August 2nd deadline. We still don’t have a deal on the debt, with each side scrambling for a last minute breakthrough. The tough part will be finding common ground that will allow passage in both the House and Senate. The debt will be a big focus this Sunday, as guest host Gloria Borger will talk to the key players involved in finding a solution.
GOP presidential candidate Tim Pawlenty says President Obama should "quit hiding in the basement" and reform Medicaid.
Plus: Watch Pawlenty sound off on same-sex marriage in the second part of our interview. Check it out here.
And don't forget, more of Candy's interview with Gov. Pawlenty will air next Sunday on State of the Union.
Also: Check out the second part of our interview with Sen. Feinstein, in which she talks about her bill to repeal the Defense of Marriage Act. It's available right here.