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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 up, the value of the dollar could go down. individual mortgages, car loans, student loans, and a lot more could likely suffer significantly, becoming more significant. some financial analysts are even warning of a potential stock market crash. all of that could push the united states into another great recession. let s go straight to capitol hill. our congressional correspondent kate baldwin is j
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this scene played out across scandinavia earlier today. people pausing to remember the victims of that attack. as norway mourns we are hearing more from people who risked their lives to save others. our cnn s michael holmes caught up with one of them. it s not a huge boat. how many people did you put in here? the first round i believe it was 14. reporter: 14. yes. and then i had to address the oldest one and said you have to stay ashore. i promise i will come back and get you. they respected that. i said, sit down and wait. i went to the mainland. i went back again and they were agreed upon sitting there and i just waved to them like this and they waved back and we made a contact and got them in the boat. well, the clock is ticking on the debt limit crisis. there is no deal, if no deal by august 2nd, that means higher interest rates for you, a financial mess for the country, and the talks over the weekend, well, essentially they didn t go anywhere. so now republic