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country's coveted aaa credit rating could be compromised. the unpresence dented consequences for all of us. and why some lawmakers argue the looming august 2 deadline isn't the armageddon the president says it is. i'm wolf blitzer. you're in "the situation room." we're only five days away from what could lead to unprecedented default in the united states if the political sparring between our elected officials here in washington doesn't stop. and we can't emphasize enough how devastating the repercussions could be, not only here, but indeed around the world. interest rates could go up...

boehner's plan has now checked harry reed's. today those same bean counters are saying, yep, reed's numbers are wrong as well. but they also say that when it's all said and done, reed's deficit cutting trumps boehner's by, listen to this, more a trillion dollars. reed's plan, ten years, $2.2 trillion in net debt reduction. meantime boehner's plan $850 billion. again, six days until default. so what about the white house here? no debt meetings, not today, at least not publicly on the president's schedule. so let's go to washington, to jane small she's a congressional correspondent of ...

and some democrats are concerned that this is a, happening too late, and b, that it's possible the white house is agreeing to a deal stall essentially jam democrats into agreeing to something that does not go far enough on the issues that they care about, an they'll ultimately be in a position of either voting to agree with their president and raise the debt ceiling or risk default and untenable position in their view. >> untenable in their view. let's dig into the detail. what do we know about the framework that's being discussed and especially the parts that democrats don't like? >...

no one is speaking publicly about it, but i have been in touch with some democrats on the hill who are still very upset this evening after that meeting. the bottom line is they have heard these outlines of a possible framework of a deal. and some democrats are concerned that this is a, happening too late, and b, that it's possible the white house is agreeing to a deal that will essentially jam the democrats into agreeing to something that does not go far enough on the issues that they care about, and they'll ultimately be in a position of either voting to agree with their president a...

york. glad you're with outside this monday. it's july 18th. a lot going on. nice to see you as well. >> nice to see you. christine's still off, i guess. two more casualties in the uk hacking scandal leaving rupert murdock's empire reeling this morning. rebekah brooks arrested. reported friday she had resi resigned. she's been released on bail. it's not clear if she'll testify tomorrow. last night in a shock move that has left scotland yard for accepting almost $20,000 in hospitality from a private health clinic after he had yound yund gone surgery. that health clinic was represente...