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on this debate before it's too late. and a disturbing new study revealing a widening gap between minorities and the wealthiest americans in the wake of a devastating recession. i'm wolf blitzer here in the situation room. first to what many say is shaping up to be an economic disaster of nearly unprecedented proportions if congress doesn't break the deadlock and agree on a deal to raise the debt ceiling only six days from now. the white house warning today there's no more wiggle room and beyond that date, quote, we lose our capacity to borrow. if that happens, interest rates could go...

>> now, the plan does not address the debt ceiling. you see the debt clock there. it ticks down to august 2nd. that's when the u.s. could start defaulting on some of its bills. it could be a jumping-off point for a bigger deal. here are some of the highlights of the plan according to cnn senate forces, it shaves about $4 trillion off the debt load. rejiggers the tax load, cuts short-term spending by about $500 billion. it changes the entire budgeting process and it reforms social security. now, this plan is not to be confused with something you heard about yet, cut, cap and balance. ...

koulson quit the job in january, and was arrested last month. now, the prime minister is now in the mood to apologize. >> what the public expect is not pedestriany political point scoring, but -- [ jeering ] what they want is to solve the issue out once and for all, and it's in that spirit i commend this comment to the house. >> just yesterday rupert murdoch, his son james, and top british executive for news corp, rebekah brooks, were in front of the committee. of course, there's the prime minister, david cameron facing the single biggest crisis in his 15 months as prime minister. we...

emerges, or was there prior to that departure, you would have a different piece. but there's quite a -- that's an important point just to be clear about. >> my final question is it seems to me on the face of it that the news of the world was sacrificed in order to try to protect rebekah brooks' position at news international. in effect, rather than her being -- having her departure being announced, "the news of the world" was offered up as an alternative to try to deal with the whole thing. do you regret now making that decision? do you regret closing "the news of the world" to try a...

read the wall street if you go see fox movies, harper collins, if you watch american idol, you're a rupert murdoch customer. the murdochs both father and son have their work cut out for them. >> they have two different things in their testimony tomorrow. they got acknowledge responsibility. they have to say that what is completely obvious is that this wasn't abe ration, it was apparently thousands of people who were hacked and the idea they didn't know is propest rous. at the some time, they can't con fes to crimes. >> another twist a former news of the world reporter a man who blew ...