The debt ceiling negotiations are looking more and more like a political game of chicken—but this endgame has huge real-world consequences. After the Congressional Budget Office made it known that Speaker Boehner’s plan won’t decrease the debt as much as he intended, the Speaker is back to the drawing board and adamantly appealing to members of his party. But members—notably of the Tea Party caucus—oppose his ideas as “too liberal!” With his back against the wall, where will Boehner turn? And how can Congress salvage this mess before the Aug. 2 deadline? We’ll get the latest from OMB Director Jack Lew, then turn to Huffington Post Media Group Editorial Director Howard Fineman. Plus, Chris plays Hardball with Sen. Jeanne Shaheen (D-NH) and Bruce Bartlett, Former Deputy Assistant Secretary of the Treasury under President George H. W. Bush.
Plus—the latest poll numbers show support for President Obama slipping in key battleground states. Republican Strategist John Feehery and Democratic Strategist Mike Feldman are here to break down the numbers and tell us what it means for 2012.
And did you see the story in the Washington Post about Michele Bachmann’s housing hypocrisy? Kimberly Kindy reports that the Congresswoman took out a home loan in 2008 that experts say was backed by Fannie Mae or Freddie Mac—the very federal agencies that she’s been a vocal critic of. msnbc Political Analyst and Mother Jones Washington Bureau Chief David Corn and Daily Beast & Newsweek Contributor Michelle Goldberg have the story tonight.