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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...

Just as the tea party forced mainstream republicans into extreme territory before, they are doing it again. at this point, the only hurdle left to a bipartisan deal, the only obstacle in the way is the tea party. mr. speaker, it's time to forget the tea party and take the deal. >> welcome back to "hardball." that was new york senator chuck schumer today. senate democrats are trying to divide house republicans in this budget fight. speaker boehner's spokesman responded, quote, senator schumer is not part of the cr negotiations and he is making up fairy tales trying to derail serious discussions...

Mainstream republicans into extreme territory before, they are doing it again. at this point, the only hurdle left to a bipartisan deal, the only obstacle in the way is the tea party. mr. speaker, it's time to forget the tea party and take the deal. >> welcome back to "hardball." that was new york senator chuck schumer today. senate democrats are trying to divide house republicanss in this budget fight. speaker boehner's spokesman responded, quote, senator schumer is not part of the cr negotiations and he is making up fairy tales trying to derail serious discussions on funding the government a...

Schumer today. senate democrats are trying to divide house republicans in this budget fight. speaker boehner's spokesman responded, quote, senator schumer is not part of the cr negotiations and he is making up fairy tales trying to derail serious discussions on funding the government and cutting spending, because he believes his party would benefit from a government shutdown. at this point the house has passed a bill to fund the government through the end of the year while cutting spending. the senate has not. and senator schumer's inaccurate rants won't change that. that seems to be the stale...