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Old 08-12-2011, 04:24 PM   #1
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Default Obama appeals for debt-limit compromise

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WASHINGTON (AP) - Republicans have muscled legislation to extend the government's borrowing authority and cutting spending through the House over solid Democratic opposition.

The 218-210 vote sets up a confrontation with the Democratic-controlled Senate and President Barack Obama,Günstig Pandora Schmuck, who say the GOP-written measure will die in the Senate. They say the bill would wreak economic havoc because it would force lawmakers to vote on another extension of the debt ceiling early next year,Buy Pandora Beads, in the heat of presidential and congressional campaigns.

Administration officials say Congress must find a compromise to raise the debt ceiling by Tuesday or the government will run out of cash to pay its bills. That could prompt an unprecedented federal default,Tiffany White, which could rattle the economy with shocks such as higher interest rates.

Copyright 2011 The Associated Press. All rights reserved. This material may not be published,Tiffany Schmuck Shop, broadcast,Pandora Beads, rewritten or redistributed.
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