- Welcome to "The 700 Club."
A battle is brewing in Congress
with potentiallycatastrophic consequences.
Senate Republicans insistthey will not support
raising the debt ceiling.
They say the Democrats mustpay the political price
for their out of control spending.
- In response, Democratsare taking a risky gambit.
What is it?
And cook this triggereconomic disaster for America?
CBN News Capitol Hill Correspondent,
Abigail Robertson has more.
- Democrats must convince10 Republican senators
to vote in favor of a bill
that funds the governmentthrough December.
But Republicans have made itclear they won't support it
with the current provision
that raises the debt ceiling included.
- The Democrats want togo it alone on spending,
they're gonna have to go it alone
on raising the debt ceiling.
- [Abigail] Republicans claim
the Democrats' recklessspending is to blame
for the debt ceiling crisis,so they should vote to raise it
on their own.
- My advice to this Democratic government,
the President, the House and the Senate,
don't play Russianroulette with our economy.
Step up and raise the debt ceiling
to cover all that you've beenengaged in all year long.
- [Abigail] But MajorityLeader Chuck Schumer
argues the debts we owe now
were accrued under GOP leadership.
- Republicans are trying a dine and dash
of historic proportion.
This debt that we are asking to be spent
is all Trump debt.
- [Abigail] A point senator,Rick Scott disputes.
- This suspension expired July 31st.
Everything that was done last year,
that was already taken care of
in the debt ceiling suspension.
So this is for what they're doing now.
- [Abigail] If the debtceiling isn't raised,
the U.S. will soon run outof cash to pay its bills,
which experts warn couldtrigger an economic catastrophe.
- We're going to have tomake structural changes
because this is going to catch up with.
- [Abigail] Members of bothparties criticized the House
for passing its continuing resolution,
after progressive Democratssuccessfully removed
$1 billion in fundingfor Israel's Iron Dome.
- It's really bad messaging overall
for the Democratic party,
who likes to say that they're pro-Israel.
- [Abigail] CBN News ChiefPolitical Analyst, David Brody,
warns this is dangerousterritory for Democrats.
- If there is indeed amajor attack on Israel
and there is no funding for the Iron Dome
and it's not fully functional, I mean,
this is a major riskfor the Democrat party
to have Ilhan Omar and AOC andothers trying to in essence,
put Israel at risk.
That is bad politically for Democrats.
- [Abigail] The bipartisan backlash
led House Majority Leader Steny Hoyer
to promise a vote on a standalone bill
by the end of the weekthat restores the funding.
- It is absolutely essential.
There were 4,400 rockets in 10 days
that rained down on Israel,
one of our closest allies and friends.
- Hoyer said he spoke with
Israel's Minister of ForeignAffairs and assured him
there is strong bipartisansupport for the Iron Dome
and the funding will be restored.
Reporting from Virginia,Abigail Robertson, CBN News.
- Well, let me underline thecatastrophic consequences
if the U.S. defaults on its obligation.
It's sort of a macro economic view
and a lot of people glaze overwhen you start talking this.
But if the U.S. government doesnot pay the regular payments
on the bonds, and there area lot of them out there,
it's $30 trillion we're talkingabout, it's a huge chunk.
And if it doesn't raise the debt ceiling
in order to accommodate that payment,
well, then the resultstruly are catastrophic.
Every single moneymarket fund in the world,
every single hedge fund, investment bank,
all of these depend on the stability
of the U.S. government bond structure
and they time thingsbased on those payments.
If that payment defaults,
then there's catastrophe in the markets.
It will make 2008 seem small.
We all went through that.
We all understand what happenswhen credit markets freeze.
Economic activity shuts down
and it takes a very longtime to recover from it.
So we should not do this.
We should not play brinkmanship with this.
At the same time, you justcan't continue printing money.
It's not good for the economy.
It's certainly not good for inflation.
It's certainly not good foranyone on a fixed income.
So you look at the inflationary forces
that have been unleashed withall the stimulus payments,
the unintended consequences of
you're actually incentivizingpeople not to work.
And that continuing on,that makes no sense.
At some point, we've gotto come to terms with
we're running a huge credit card balance
and we're running outof income to pay for it.
In other news, the FDA hasauthorized a third shot
of the Pfizer vaccinefor those at greater risk
of the Corona virus.
The CDC has to give its approval as well.
John Jessup has morefrom our CBN News Bureau
in Washington, John.
- That is right Gordon.
The FDA's decision paves the way
for millions of senior citizens
and others at high risk for COVID-19
to receive a third shot oncethe CDC gives the go-ahead.
As Mark Martin reports,
that announcement could come this week.
- The FDA authorization means
tens of millions of Americanswill now be eligible
for the third jab.
Among them, senior citizensif they've had their last shot
at least six months ago,and those in high risk jobs
who are likely to getexposed to the virus,
for example, healthcare workers, teachers,
staff working at child daycares, grocery workers,
and people living in homelessshelters and prisons.
The CDC telling local andstate health officials
to hold off on giving the booster shot
until they've signed off,which could come by week's end.
- Hopefully, Director Walenskywill come out on Friday
and give those final recommendations
about who is at high risk
and who exactly should begetting these booster shots,
including those above the age of 65.
For everyone else, we just need more data,
people need to wait.
- [Mark] Some healthadvisers are questioning
the rationale for boostersand urging the CDC to wait
at least another month before signing off.
And those who got Modernaor Johnson & Johnson shots,
will have to wait a few more weeks
before the FDA can approvevaccine booster shots
for those vaccines, somethingDr. Anthony Fauci believes
will eventually get FDA backing.
- I believe the correct regimen
is gonna be two doses atfirst and a few months later,
a third dose.
For J&J, it will be the first dose
followed a few monthslater by the second dose.
- [Mark] Meanwhile, PresidentBiden is promising to buy
500 million doses of the Pfizer vaccine
to donate for distributionaround the world.
Mark Martin, CBN News.
- Thanks, Mark.
Healthcare in Africa isgetting a significant
boost to the tune of $18 million.
That's how much thecouple in our next story
is giving to Christian missionary doctors
serving on the continent.
Mark Gerson and hiswife, Rabbi Erica Gerson
believe deeply that they'refulfilling the Jewish command
to love the stranger by helping those
who serve Africa's most needy.
CBN's George Thomas hasmore on their efforts.
- [George] Spend timewith Mark and Erica Gerson
and you'll quickly discover
their passion for helpingthose less fortunate
is rooted in love.
- Love is always an action word.
When we commit to lovingsomebody or something,
it means that we have to dosomething to manifest that love.
- [George] Mark is a NewYork based entrepreneur
and philanthropist.
His wife, Erica is a Jewish rabbi.
The Gerson's say the deeplove for their faith,
compels them to giveaway millions of dollars
of their personal wealth each year
to fulfill their Jewishobligation to love the stranger.
- The Bible never tellsus to love our children
because it's something we willdo without the Bible's help.
We'll love our children,
even if nobody instructs us to do so.
Yet, the Bible tellsus to love the stranger
over and over again, three dozen times.
Because loving thestranger is not something
that comes naturally, it's notsomething that comes easily.
- [George] The Gerson'sare putting the practice
of loving the strangerby supporting the work
of African Christiansand missionary doctors
across the African continent.
- When we learned some 20 years ago
about the work of Christianmissionary doctors in Africa
and how they're sacrificing everything
in order to serve the poorby bringing healthcare
to those who otherwise wouldn't have it,
we said, this is what itmeans to love the stranger.
- This week, the couplepledged a record $18 million
along with matching funds
from the United Bank ofSwitzerland and others
to support the work ofAfrican Mission Healthcare,
which he co-founded 11 years ago.
- This gift of at least $20 million
and hopefully the matching grant
will make it much more than that,
is going to transform African healthcare.
It's going to enable usto build the systems,
the infrastructure, thehospitals that will treat
literally millions of patientsnow and into the future.
- [George] CBN and theGerson's have partnered
on several projects on thecontinent to provide quality,
compassionate care to patients.
African Mission Healthcaresays this latest gift
from Rabbi Erica and Mark Gerson
is the largest private gift ever
to Christian Medical Missions.
They firmly believe theBible verse in Malachi 3:10,
that when you help the stranger,
God will pour out his blessings.
- God says, test me.
I believe it's the only testthat God uses in the Bible
is this test me, give to charity he says,
and you will enjoy blessings yourself.
And it is so true.
No one has ever made a donationto serve the African poor
by supporting Christian missionaryphysicians and regretted.
It has been the blessing of our life.
It's been a blessing of Erica and my life
to be able to partnerwith these sacred people,
these doctors who are working in Africa
in the name of their Christianfaith to serve the poor.
And it's something that wealways want to do more of.
- [George] George Thomas, CBN News.
- Responding to thecommand to love others,
producing beautifulresults like this, Gordon.
- Well, congratulations to Mark and Erica.
What a wonderful gift,what a wonderful sentiment.
CBN and Operation Blessing
have been supportingAfrican Mission Healthcare
for years now.
And it's our pleasure topartner with Mark and Erica.
We've partnered on otherprojects in the past.
This is a wonderfulthing that they're doing.
If you want to find out more information
about African Mission Healthcareand this wonderful gift,
all you have to do is look to cbnnews.com.
