Sunday, July 31, 2011

GOP, White House still working on debt deal

Washington – Key Republican Congressional figures and White House officials haven't given up hope of working something out before Tuesday's debt limit deadline.

According to negotiators who spoke on condition of anonymity due to the sensitivity of the talks, a deal is starting to take shape that would see a reduction of spending of $2.4 trillion in two stages, a plan to raise the debt limit by $2.4 trillion and require Congress to sent a balanced budget amendment to the states for ratification.

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