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Need to Know News: Obama speaks on debt impasse while GOP considers bill changes; Apple now has more cash than U.S. govt
July 29th, 2011
11:56 AM ET

Need to Know News: Obama speaks on debt impasse while GOP considers bill changes; Apple now has more cash than U.S. govt

Each day, we here at "Piers Morgan Tonight" put together the news you need to know – from what happened last night to what will happen today.

For July 29, 2011 – GOP considers bill changes, Tropical Storm Don to bring much needed rain to Texas, Casey Anthony to appear in Hustler?

• Obama speaks on debt impasse as GOP considers bill changes: "Frustrated by continued delays in the House, President Barack Obama urged Senate members Friday to reach a deal to increase the country's debt ceiling. "We are almost out of time," he said. Republican leaders in the House pulled their plan back from consideration on Thursday when it became clear they did not have the votes to pass it. GOP leaders will try to bring Speaker John Boehner's bill to a vote again by the end of the day." Send your message to Congress

• Louise Mensch apologizes to Piers Morgan for hacking slur: "Conservative MP Louise Mensch has apologized to former Daily Mirror editor Piers Morgan for accusing him of "boasting" about hacking phones. She told the Commons select committee last week that Mr. Morgan had been "very open about his personal use of phone hacking" in his memoir 'The Insider.' But she now says she made a mistake and had misread a newspaper report about the book." Piers accepted Mensch's apology.

• Apple now has more cash than U.S. government: "Maybe the cash-strapped U.S. government should start selling iPads. According to the latest statement from the U.S. Treasury, the government had an operating cash balance Wednesday of $73.8 billion. That's still a lot of money, but it's less than what Steve Jobs has lying around. Tech juggernaut Apple had a whopping $76.2 billion in cash and marketable securities at the end of June, according to its last earnings report."

• Tropical Storm Don expected to bring much needed rain to Texas: "Tropical Storm Don set its sights on south Texas on Friday as it churned across the Gulf of Mexico, the National Hurricane Center said. The storm, which would bring much-needed rainfall to the parched state, is forecast to make landfall along the Texas coast late Friday night or early Saturday."

• Hustler offers Casey Anthony $500K: "If Larry Flynt has his way, Casey Anthony could reintroduce herself - nude - to America on the pages of Hustler magazine, and make well over $500,000 in the process. The pornography magnate told HLN's "Nancy Grace" show on Thursday night that talks are ongoing that could land Anthony on the pages of his magazine, weeks after a Florida jury acquitted her of murder in her 2-year-old daughter Caylee's death. Anthony's camp dismissed the report as 'nonsense.'"

*Photo Courtesy AFP/Getty Images

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soundoff (20 Responses)
  1. Shelly A.

    Piers:
    Your comments on last night's show made my day... should someone be sacked if we default. LOL
    Your perspective on things as well as your honesty in asking straight up questions makes my day. I will be a faithfull follower of your show from this point forward...thanks for providing a venue of humor through this challenging event.
    Shelly

    July 29, 2011 at 1:33 pm | Report abuse | Reply
  2. Oscar

    Piers, can you please ask the democrats why dont they tell the republicans either get the job done or dont get paid. and let them know also that the american people are getting ready for the next election and we are gonna vote their right wing tales out of office cause we are tired of the republican party and the tea party telling the democrats & american people its either our way or the highway. well we want them to hit the highway and never come back. why is it when they run the debt & deficit up its ok and its good for the country and when the democrats do it they are destroying our country. The REPUBLICANS must GO PERMANENTLY!

    July 29, 2011 at 4:54 pm | Report abuse | Reply
    • Larry

      Can you not see that the Senate debt timeline is political in and of itself? To not go along with House, to stop raising the debt limit, but to insure raising the limit again does not come up until after the 2012 election! Is it to protect the ass of those Senators and President coming up for election in 2012? Their plan is obvious: (1) raise revenue in 2011 and 2012, and (2) promise to make budget cuts after 2012. And cutting budgets is not the same as cutting spending. You have a winning program as long as you keep it fair and balanced! The fact is 2012 will spend more than in 2011! And the debt will go up in 2012, and thereafter! The legislature is not there to make backroom compromises, but to put it on the floor, in front of C-span, and debate it for all to see and learn! Reid say House bill bad (no explanations)! My bill good (no explanations)! Who is not compromising!

      July 29, 2011 at 10:24 pm | Report abuse | Reply
  3. Daniel

    Piers,
    Once again we have Millionaire Congressmen stealing nickles from the poor to protect the money they stole from the treasury and and gave to Billionaires. "They don't care about us" M. Jackson

    July 29, 2011 at 9:42 pm | Report abuse | Reply
    • Jerry Grey

      I agree with Daniel...they don't care either about how their infighting affects the rest of the world. Who will benefit
      by higher interest rates and a world wide recession? Some Republicans have forgotten what their democracy mantra means. Cutting assistance to social programs is just selfish and bad politics. A modest raise in taxes will help the U.S. – why not give it a try?

      July 30, 2011 at 1:43 pm | Report abuse | Reply
  4. Beverly

    If our elected officials can not make a decision on this crisis, they should step aside and let the "We the people" vote on it. In fact, they should all give up their salaries until this can be resolved since no one seems to be earning it anyway. Maybe if they do not have income they can finally see the issue from the perspective of the American people.

    July 29, 2011 at 9:47 pm | Report abuse | Reply
  5. Joe

    I was extremely disappointed in Piers' lack of objectivity and partisan comments last night. Very unprofessional. Walter Conkrite, the gold standard, would never have behaved in such a manner.

    July 30, 2011 at 9:21 am | Report abuse | Reply
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    Let me quess.... when all this comes to an end, I am betting that the poor middle class will take it in the
    shorts again. WHY is it they always go for us that live from paycheck to paycheck. Its so bad for us
    right now and now they want to get their money from us. God Help Us Lord.

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