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  Debt deal: Obama, Hill leaders break through
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Last EditedCOSDem  Jul 31, 2011 09:01pm
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News DateMonday, August 1, 2011 03:00:00 AM UTC0:0
DescriptionFacing the imminent prospect of default, the White House and congressional leaders reached a debt ceiling deal that gives President Barack Obama greater certainty in managing the Treasury’s borrowing needs while making a joint commitment to major deficit reduction without any explicit concessions by the GOP on new tax revenues.

Obama announced the deal at 8:40 p.m. on live TV in the White House briefing room as Speaker John Boehner was simultaneously briefing his own Republican conference on the deal.
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