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evening here in the nation's capital. just to underline the peril facing the united states economy, and the american people, democratic officials familiar with the president's speech expect him to say the country right now is, quote, in imminent threat of default. with only about one week left for democrats and republicans to agree on a deal to raise the debt ceiling. in a speech earlier today, the president alluded to the bitter political grid lock between both sides. >> are we a nation that asks only the middle class and the poor to bear the burden? after they've seen their jobs di...

do. nobody can get the support to get one of those through. do we have to look for just the possible? >> i think mission number one is to raise the debt ceiling. they cannot get away without doing that. saying they're going to downgrade you. but they left a bit of an out. if you raise the ceiling but give indication you're on the road to getting a deal, we'll keep you on credit watch negative but take you off and affirm your aaa rating if you get it done within a couple of months if we see that possibility. so that's -- that seems to me to be the fallback plan for congress. weather t...

jeanne, first question, is it time to simply say, let's go for the possible in washington? everybody has grand ideas about what they want to do. nobody, nobody can get the support to get one of those through. do we have to look for just the possible? >> i think the mission of everyone in congress is to absolutely raise the debt ceiling. they cannot get away without doing that. the s&p has been the strongest credit rating agency. they said, we're going to downgrade you if you don't come up with a plan. but they say f you raise the ceiling but give us indication that you're on the road...

says the reporter who blew the whistle on the uk hacking scandal has been sound dead. his name is john ford, he was found today in his london home. police are calling his death unexplained. this is important because we're going to have much more on this story, got a lot of questions for our correspondent in london, we'll bring that to you coming up. but i want to begin this hour with a warning. i want you to listen to a warning. this is a warning that i'm about to show you a video of 16 men being shot to death. i'm going give you a moment here right now to go ahead and get the kids o...

she shun the media spotlight or will she try to capitalize on her supposed fame? i'm wolf blitzer. you're in "the situation room." >> president obama back at the bully pulpit for the second time this week to make sure ameripay bill. he went before reporters to keep pushing raising the debt ceiling limit before the august 2 deadline. he seems to be softening his terms somewhat. let's go to the white house. our correspondent dan lothian has the very latest. >> he said it' time for law makers from both parties to make tough choices. he says he's been willing to put entitlement programs ...