Debt showdown as Obama presses for a big plan
White House urges a sweeping deficit fix as Aug. 2 looms while Congress abandons talks for a bold deal. Senate and House seek fallback measures to avert default, with Obama warning of a financial Armageddon and potential Medicare age changes if taxes rise.
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Leaks Mark White House Debt Talks In Washington
Anonymous officials from both parties keep providing blow by blow accounts as six days of closed door negotiations over the debt ceiling spill into the public arena. White House aides limit on the record coverage while leaks and readouts grow, with President Obama and top lawmakers at the Cabinet Room amid an atmosphere of distrust and high stakes.
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