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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...

blame. the debt crisis, here you go. the deepening stalemate. president obama reaches out to a new player and the game is you. in norway, breivik's father wish his son would have killed himself rather than slaughter dozens of people. bp has a big turnaround. the company raked in more than $22 billion in profits for the quarter! the debt, minute-by-minute, the nation inches closer to the brink of twault. the countdown less than seven full days before the federal government runs out of money and unable to pay its bills. in washington a stark message is delivered between the pre...

and travelers squashed by major airlines. >> but first, to the desperate race against the clock to secure what president obama is calling america's national credit card. the country could face unprecedented default if congress is unable to agree on a deal to raise the nation's debt ceiling. failure to do so could downgrade america's debt rating and could be extremely damaging for global economy purposes. let's get all the angles. we've just learned the president will be addressing the nation later to. kate baldwin is up on capitol hill. first to you. what's the very latest, the think...

friend arnold schwarzenegger. >> can he no longer be fun with women in town. >> tom is a man who can make just about everything funny. tonight he sits down with me for a candid conversation about his battle with various addictions, his brain chemistry changes, cocaine, alcohol, and all those drugs and it didn't give me what i was looking for. >> the roller coaster life. >> i was getting married a bunch. >> tom arnold for the hour. this is piers morgan tonigh"pie" my special guest, tom arnold. tom, you've got a new dvd out, "tom arnold, that's my story and i'm sticking to it." what ...

eva, how are you? >> i'm good. how are you? >> lovely to have you in my studio. >> yeah, congrats on your show and all of this. this is beautiful. >> it certainly is -- oh, you mean the studio, yeah. >> they spent some money on you. >> yeah, spoil me, temporarily. i said, describe eva longoria in a way i can talk to her. they said, she's an actress, she's a business model, a nightclub owner, a philanthropist, a student. i mean, my god, woman, there's no end to your talents. >> i do a lot. when you put it like that. >> what's on your passport? >> what do you mean? >> occupation? what ...