Debt Ceiling Update - Watch House Vote Live - Will it Happen?

George Wenschhof

CBS News is reporting President Obama is willing to accept a day day extension of debt ceiling to get compromise bill passed.

Latest on Boehner bill is it is becoming the latest version of the "Cut, Cap and Balance" bill which already failed in the Senate. In order for Boehner to get the Republican votes he needed, he agreed to the amendment which would require a balanced budget bill to be passed by Congress before the debt ceiling can be raised a second time. TheHill.com has more here.

The House vote is now expected to come shortly after 6:00 PM ET.

Visit msnbc.com for breaking news, world news, and news about the economy

This comes as Gallup.com releases latest poll showing Obama approval rating at lowest point in his presidency - 40%

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