We’re following two huge stories this morning – the debt fight here at home and the Rupert Murdoch scandal in Britain.
Let’s start in Washington, where House Speaker John Boehner will hold a vote on the Cut, Cap and Balance plan, which has absolutely zero chance of becoming law. At the White House, President Obama has no public events on his schedule and he’ll probably spend his day on the phone with members of Congress in search of a resolution in the debt fight. Bill Clinton says he’d turn to the Constitution, and use the 14th Amendment to raise the debt ceiling. And conservative Senator Tom Coburn of Oklahoma proposes a $9 trillion cut – more than twice what President Obama proposed.
In London, Rupert Murdoch, his son James, and former top lieutenant Rebekah Brooks all testify before Parliament today about the phone hacking scandal that threatens the Murdoch empire. Meanwhile, Bloomberg and CNBC were first to report that Murdoch may be replaced at the top of News Corp.