Obama administration tries to speed up deal to avert financial crisis

The White House reportedly hopes to resolve a standoff with Republicans over cutting the deficit and raising the debt ceiling in a few weeks — but the impasse in Congress only worsens. The White House believes that a deficit reduction deal must be reached in a matter of weeks to prevent a financial crisis, but an impasse in Congress deepened Thursday over the core tax and spending disputes that ...

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Source: Los Angeles Times

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