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President, Congress reach debt deal; vote expected today

Aug. 1, 2011

Late Sunday night, President Barack Obama announced a deal with Congressional leaders on a debt deal to avert a default on U.S. debt payments

Late Sunday night, President Barack Obama announced a deal with Congressional leaders on a debt deal to avert a default on U.S. debt payments. Congress is expected to vote on the deal, which includes spending cuts in exchange for raising the debt limit, sometime today.

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