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opportunity in the middle east. this hour, his vision for the region and the controversial way he's pushing the israelis and the palestinians to make peace. we want to welcome viewers in the united states and around the world. i'm wolf blitzer. you're in "the situation room." the financial power broker who bailed out countries is being baled out himself as he awaits trial on charges he sexually assaulted a hotel maid. dominique strauss-kahn denies the allegations that many people find shocking. but the former head of the international monetary fund has been tied to previous allegatio...

Assets to support their consumption like the ongoing budget deficit that we have, then i think it's a terrible idea. the notion that you can sell off the family jewels to continue to spend the way you are for a while longer. >> reporter: wolf, the treasury department says if the u.s. wanted to sell its gold there would need to be public input and oversight and wouldn't be tied to the debt issue. here is a question. who was coming and going from bin laden's compound in the months and years before his death? our sources now, we're getting new information. plus details of what caused panic on...

and president obama makes some high school students cry. this hour, the inspiring against the odds story that brought the commander in chief to their school. i'm wolf blitzer, you're in "the situation room." first this hour, the shrimping republican presidential field. we've seen prominent contenders opt out of the 2012 race in recent weeks, including former arkansas governor mike huckabee. say so long to the prospect with the biggest name, deepest pockets, and most outrageous remarks. that would be none other than donald trump. he announces an event to report the tv series, celebr...

Ceiling must be accompanied by huge deductions in outlays. lawmakers cast doubt on the progress made last night that was offered by vice president biden. >> the only way to ration until lee do this after all the negotiations i've been in is take one piece at a time. but nothing is agreed to until everything is agreed to. so i know it from us traits you when we come out here and we tell you what we will agree to. what we agreed to is tentative. it's a little bit like saying, look i'll agree you to drive you to work every day on condition that you pay for the gas. >> reporter: what the president...

Beginning of august? >> there certainly will be a lot of posturing. really what we're expecting to hear is where democrats stand in terms of this issue. they are going to be willing to make cuts but more likely in the billions, not the trillions that republicans would like. yesterday when president obama met with democrats, he reiterated and said, do not draw a line in the sand for our position. hold your ground. let's see what we can do right off the bat. what does he mean by that? there's a fiscal debt working commission being headed by joe biden that meets today at 3:30 p.m. both parties ha...