It's down to the wire at the White House this weekend as President Obama and congressional leaders meet to try to hammer out a deal to avert a global financial catastrophe: the U.S. government defaulting on its debts. With both sides still far apart, is either side willing to give on key issues? Will Republicans allow new taxes? Will Democrats agree to cuts in Social Security and Medicare?
In a "This Week" exclusive, we go inside the negotiations with White House Chief of Staff Bill Daley to ask whether a deal can be reached. And as new jobs numbers bring more terrible news for the economy, what can President Obama do to fix the stalled recovery? When will businesses start hiring again?
Then, the "This Week" roundtable breaks down the debt ceiling divide, the struggling economy and which Republican White House hopefuls can make the best case on fixing the economy. George Will, Democratic strategist Donna Brazile, Bloomberg's Al Hunt, and ABC News Senior Political Correspondent Jonathan Karl join Christiane Amanpour for the discussion.
Plus, she's just taken the helm of the International Monetary Fund, as it navigates through deeply troubled economic waters and in the wake of Dominique Strauss-Kahn's spectacular fall amid a shocking and now unraveling allegation of sexual assault. Newly elected IMF Managing Director and Chair Christine Lagarde sits down with Christiane Amanpour to discuss the grave risks posed by a possible U.S. default on its debts, and how she plans to restore the IMF's image after the DSK scandal.
Also, is the media too quick to rush to judgment? From DSK to Casey Anthony, big twists in two big cases have many asking if the media is tipping the scales of justice.
Meanwhile, Rupert Murdoch is shuttering his British tabloid, News of the World, amid criminal allegations and unethical reporting practices that victimized celebrities, grieving families and even the Royal family. Vanity Fair columnist and ADWEEK editorial director Michael Wolff (who also wrote "Murdoch: The Man Who Owns the News") will be debating the state of the media in this tabloid culture with NPR's Nina Totenberg and CourtTV founder Steve Brill.
Don't miss this packed hour.