Politicians Scramble With One Week Left Before Debt Deadline05:44
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President Obama and House Speaker John Boehner both addressed the country on Tuesday. (AP)
President Obama and House Speaker John Boehner both addressed the country on Tuesday. (AP)

The countdown clocks on the cable news channels are now ticking down the minutes in the one week remaining before the U.S. government will no longer be able to pay its debt.

Conservatives in the House yesterday panned speaker John Boehner's plan, as did Standard & Poor's, which said it probably wouldn't be enough to avert a downgrade in the U.S. credit rating.

But a similar plan in the Senate may not have enough votes to pass.

Guest:

  • Rick Klein, senior Washington editor for ABC World News and host of ABC News' political webcast "Top Line"

This segment aired on July 26, 2011.

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